ARTICLES LABELLED WITH TAG Czech Republic

Passerinvest Group a.s. has entered into an off-market agreement with the investor Simona Otavova for the purchase of the building housing the general headquarters of the state-funded organization Road and Motorway Directorate of the Czech Republic (Ředitelství silnic a dálnic ČR – ŘSD). The value of the transaction was not disclosed. The change of ownership was announced today by Passerinvest.

According to the land registry, Microsoft has acquired a large seven-hectare plot of land in Prague's Klíčov district from CPI Property Group. The price of the transaction is CZK 1.5 billion, according to the purchase contract filed with the land registry, reports Seznamzpravy.cz.

500 flats will be built on the site of a medical device factory. This is what the KKCG group is announcing after its move to a two-and-a-half-hectare brownfield site in Modřany, Prague. The new acquisition was reported by the daily E15.

The Prague Public Transport Company (DPP) has signed an agreement with investors from CPI Property Group and Karlín Group and together they will build the Nové Holešovice district in Prague 7. Information about the billion-dollar project was reported by the daily E15. 

The modern, developer-led warehouse stock in the Czech Republic has almost reached 10 million sqm and it may surpass 11 million within a year. A record amount of space was under construction as it has reached a 103% increase compared to Q1 2021. Gross take-up (including renegotiations) also grew in Q1 2022. This quarter also marks the end of the decline in the vacancy rate after almost two years. A total of 175,300 sqm of modern industrial premises is available for immediate occupation. The Industrial Research Forum has announced industrial market figures for Q1 2022.

The Prague office building Parkview currently owned by Deka Immobilien is now 100% leased. The nine-story building developed and finished in 2020 by Skanska in the Pankrác district will house the software company JetSoft and the research technology company Lucid, Skanska, the original developer of the building, announced today.

VGP has gradually leased over 49,000 sqm of warehouse space in its VGP Park Olomouc to Hella Autotechnik Nova. The first contract was signed last November. It has now signed another contract with the concern for space that is still under construction. The transaction was announced today by VGP.

PSN is expanding its team. Radek Hlaváček has joined PSN as Director of Projects. He will be responsible for managing projects in various stages of preparation and construction, including strategic planning and analysis of investment plans, the company reports.

Prime rent in the first quarter of 2022 increased again and is in the range of €24.00-24.50 per sqm per month in the city centre. In addition to rents, rising construction prices are still reflected in offers of allowances for office build-outs or other incentives. The Prague Research Forum published the office market figures for Q1 2022.

As the pandemic forced many of us to shift a work-from-home routine, some people predicted that “the office is a dead concept” and that it will never return. I would agree that the office as we knew it is actually really dead, but the “new office” is here and all of us need to adapt to it, writes Petr Florián, Associate Director, Office Leasing at Avison Young in the Czech Republic for Property Forum in an opinion piece.