ARTICLES LABELLED WITH TAG Czech Republic

Cushman & Wakefield has taken over the management of a portfolio of three shopping centres and one retail park in the Czech Republic. Hungarian investment group Adventum Group bought this portfolio from Tesco last year in a unique transaction involving 18 retail projects across the CEE region. Cushman & Wakefield assisted its long-standing client Tesco in the sale and is now managing and exclusively leasing 50,000 sqm of retail in the Czech Republic space for Adventum.

The energy group Premier Energy has bought new projects in Romania with a capacity of approximately 41 megawatts, for which it paid €13 million. After completing all acquisitions and planned developments there, it will own or manage 700 megawatts of renewable energy, Pavel Zuna, a spokesman for Emma Capital, Premier Energy's parent company, told E15.

VGP has acquired a new tenant for its newly prepared technology park in Ústí nad Labem, situated in the northern part of the Czech Republic at a 90-kilometre distance from Prague. The new tenant in Hall A at VGP Park Ústí nad Labem City is Bosal, a company from the automotive industry.

The second half of 2022 has brought 33,000 sqm of office space to the Brno office stock up to the final of 664,400 sqm. There were five new office buildings that were completed and six more are under construction now. At this moment, Ostrava has only one project under construction with the completion scheduled for 2023, says the Regional Research Forum in its latest report on H2 2022.

The UDI Group has acquired an industrial site in Brno in January, which it will operate for the time being while preparing for future redevelopment. At the moment, the plan is to build offices and hotel-type accommodations. If the city changes the zoning plan, as it seeks to do, the developer's final project may change to reflect this.  Construction would be done in phases, with the first phase to begin within two years. The developer announced the acquisition without disclosing the transaction price.

Victoria's Secret's first "real" Czech store - so far an outlet has only operated at Prague's airport - is to open in Prague’s Westfield Chodov shopping centre in May this year, Cushman & Wakefield announced.

International logistics and transport company Emons is significantly expanding its network of logistics centres in the Czech Republic. As of February 2023, it will open its new logistics centre in Ostředek, close to the D1 motorway. Advised by Savills Czech Republic and Slovakia, it has leased over 6,000 sqm of warehouse space at Sázava Logistics Park, which was built by development and investment company UDI Group.

YIT has completed the Koti Libeň residential project in Prague 8, which includes 140 apartments, two studios and one commercial space. The last apartment is currently available for purchase. YIT announced that new residents will be able to move in in the second quarter of this year.

The Roztyly Plaza office building in Prague 11 has progressed to the above-ground construction phase. Completion is planned for 2024, yet more than half of the offices are already leased, developer Passerinvest announced.

A 44% higher demand for offices in Prague was recorded year-on-year in Q4 2022. Renegotiations accounted for 58%, the remaining transactions included new leases, expansions, and subleases. By 2025, an additional 400,000 sqm of new office space, currently in different stages of preparation, is due to come online in Prague, says JLL.