ARTICLES LABELLED WITH TAG Czech Republic

Upvest from Komerční banka Group together with the American real estate firm Lincoln Property Company has bought the Zirkon office centre in Prague 8 from Českomoravská nemovitostní (ČMN). The price of the transaction has not been disclosed.

Industrial developer Panattoni is buying a huge brownfield on the site of the former Barbora Mine from the current owner Asental. The company intends to build a modern industrial park of hundreds of thousands of square metres on the site of the former coal mining site. The price of the transaction has not been disclosed, Seznamzprávy.cz reports.

AFI Europe Czech Republic, a developer that has been focusing on the construction of rental housing in recent years, has already achieved 50% occupancy in its two newly completed buildings: the AFI Home Karlín at the corner of Thámova and Pernerova streets and the first phase of AFI Home Kolbenova in Vysočanská street.

UDI Group is finishing the first hall of its new Logistics Centre Přehýšov near the D5 motorway close to Plzeň. A total of three halls with a total area of 130,000 sqm will be built here. The developer plans to invest a total of CZK 3.2 billion (€130.5 million) here. 

The largest transaction on the Czech office market this year took place in Prague. A listed building in one of Prague's most expensive streets, Na Příkopě, was bought from Commerzbank Group by Trinity Bank. The price of the transaction has not been officially disclosed, but it is likely to exceed CZK 2 billion (€82 million), making it this year's largest transaction on the office building market, writes online daily newstream.cz.

Trigema Group is expanding its portfolio of ski resorts. After the ski resorts Monínec in Central Bohemia and Samota near Železná Ruda in Šumava, it is heading to the Krkonoše Mountains, where it is buying the ski resort in Rokytnice nad Jizerou. The price was not specified, but Trigema intends to invest CZK 1.3 billion (€53.4 million) in the area, mainly in the Horní Domky and Studenov parts, writes online daily newstream.cz.

More and more companies are considering expanding into Czech regions, but a lack of suitable office space is preventing them from doing so. In regions outside of Prague or Brno, there is not only a shortage of modern space for rent, but also a lack of flex operators. Those types of businesses could benefit from the growing interest of international companies in the Hub & Spoke or Flex & Core model, reports Colliers. 

Accolade Group continues to expand its activities in the Karlovy Vary region and is directing another investment of billions of crowns to the region. In cooperation with developer Panattoni, it is currently continuing to prepare a brand-new industrial complex in Okrouhla (Cheb East) with an estimated value of CZK 2 billion (€81 million) and a planned area of 80,000 sqm, of which 60,000 will be taken over by the first tenant, the American tyre manufacturer Goodyear, at the beginning of next year. In addition to this project, Accolade owns two other parks in Cheb, with the area of all three projects expected to reach almost 600,000 sqm in the future. 

Savills has prepared an overview of how the real estate market should react to the changing age structure of the global population. This study carried out as part of Savills Impacts programme, is about the prediction of residential supply and related services and hybrid working models. The fact that many Western countries are some of the fastest ‘ageing’ in the world isn’t news. In 10 years' time, the largest proportion of the Czech Republic’s population will be between 50 and 59 years old. Other countries in CEE are in a similar position. In Germany, Austria, Italy or France, the dominant age group will be 60 to 69. Meanwhile, at the other end of the scale, many African nations are seeing increases in their youthful populations. 

UBM Development Czechia has completed the rough construction of the Timber Prague project of wooden apartment buildings, which are being built as part of the Arcus City residential complex in Prague-Reporyje. These modern chamber buildings made of solid CLT panels express the first multi-storey apartment buildings made of wood in the modern history of the capital city. They comprise a total of 62 units with layouts from 1 + kk to 4 + kk, ranging in size from 39 sqm to 110 sqm and each of them has its own cellar, parking space in the underground garages and a balcony, terrace or front garden. To date, a quarter of the apartments have been sold. The project is being built to BREEAM Excellent standard.