ARTICLES LABELLED WITH TAG Czech Republic

P3 has signed a deal with FM Logistic to be the first occupier at its new park in Lovosice, close to the borders with Germany and Poland in the north of the Czech Republic. The French logistics company is already a well-established P3 customer, with build-to-suit warehouses at P3 Prague D11 park and on two P3 parks in Poland completed earlier this year. It also occupies space on P3 parks in Romania.

The total floorspace in shopping centres across Europe increased by 1.17 million sqm to 160.8 million sqm at the midpoint of 2017, according to Cushman & Wakefield. Since the beginning of 2017, a total of 57,850 sqm of new shopping centre space has been completed in the Czech Republic. The figure includes the extension of IGY České Budějovice by 9,250 sqm, an extension of the Chodov Centre by 35,000 sqm and the newly built Central Jablonec with a floor space of 13,600 sqm. This represents a 67% growth over the previous year. However, the market will deliver markedly less shopping centre space next year. According to current information, just one shopping centre will be completed – the Géčko in Ostrava. By contrast, several major projects will open after 2019.

JLL’s valuation department, under the leadership of Ján Zibura MRICS and Petr Strýček, has valued the portfolio of the largest owner of apartments for rent in the Czech Republic, RESIDOMO.

CBRE Global Investors, on behalf of clients, has acquired a logistics/light industrial portfolio in Plzen, Bohemia, Western Czech Republic from Stage Capital in an off market transaction.

Established in 2011 by Martina Bartek and Michaela Semanova, who will join Savills as directors, SB Property Services has 25 staff managing a portfolio of commercial properties comprising 185,000 sqm with a value of over €400 million. Clients include Commerz Real and Czech fund management company REICO (an investment company of Czech bank Ceska sporitelna). Among the Class A properties managed are Charles Square Center, the Melantrich Building, Rohan Business Center and the Trianon office building.

Stage Capital has sold a 151,000 sqm portfolio of Czech logistics assets to CBRE Global Investors for €125 million. The portfolio includes four standing assets and development land with planning permission for one more asset.

A new concept of modern living for students and young professionals in Brno has opened its doors. DOMEQ offers 159 rooms and apartments for 309 residents. It is located in Ponávka Business Park and a part of the residency will be allocated specifically to students and interns from the local firms in the area. On behalf of CTP, the building will be run by the agency Foreigners.cz.

Investment flows into the CEE-6 region’s commercial real estate markets rose 12% y-o-y in the first nine months of 2017. The €7.6 billion closed deal total coupled with a still full pipeline of deals under consideration suggests that the annual cycle high of €12.2 billion invested last year is likely to be matched or overhauled. Substantial growth in Czech and Bulgarian volumes were the drivers of the momentum in the January-September 2017 period, says Colliers International in its latest report.

CTP Group, Allianz Group and ING Bank have signed a new €160 million syndicate loan for the financing of a portfolio of industrial properties in the Czech Republic. This loan serves both to refinance existing loans from a group of CEE banks and to finance new projects which have been completed in 2017. The refinancing with Allianz and ING is part of CTP´s ongoing strategy to extend its network of financing partners, including seeking partners outside the CEE region.

At the end of Q3 2017, the vacancy rate in the Czech industrial market reached 3.6%. Vacancy in Prague fell below the country average to the level of 2.8%. The Industrial Research Forum has released the final industrial market figures for Q3 2017.