Tristan Capital Partners, a pan-European real estate investment fund, has announced three new lease agreements in their recently refurbished Praha City Center office building. The new tenants are leasing a combined 3,000 square metres of the 16,000 square metre property.
According to the latest report by Colliers International, during the first half of 2016, some 12,000 square metres of modern office space were completed in Prague. An additional 20,300 square metres is expected to follow during the second half, which will lead to 2016 being the “leanest” year in terms of development completions since 1992, with a total of only 32,300 square metres of completed offices.
Tchibo Prague has held the topping out ceremony of the first its distribution centre in Panattoni Park Cheb, which will serve online customers from the CEE region and the southern part of Germany. Currently, the total rentable area has reached 39,000 sqm which will be shortly extended to 73,000 sqm. After completion, the premises will become the second largest logistics hall ever constructed in the territory of the Czech Republic after the distribution centre of Amazon in Dobrovíz. The Tchibo distribution centre shall start its operation by the end of this year. The second phase of the project will be completed in the middle of next year.
Neinver, a Spanish developer, investor, property and fund manager, has decided to enter the Czech market, the eighth market in which the company has a presence. Neinver has partnered with The Prague Outlet to forge a joint venture launching Prague The Style Outlets, the first premium outlet centre in the Czech Republic. Neinver will be in charge of leasing, retail and property management. The joint venture is financed by PPF Bank.
Student accommodation has become popular among investors in some Western European cities, but there is an almost complete lack of this investment product in the CEE region. Colliers International has released a recently conducted research analysis that explores the current status of student housing in the Czech Republic and the future prospects of this sector that could attract both domestic and foreign investors.
Atrium European Real Estate Limited, an owner and manager of shopping centres and retail real estate in Central and Eastern Europe, has announced its results for the second quarter and six months ended 30 June 2016.
Investment into Central and Eastern European (CEE) countries (excluding Russia) for H1 2016 registered a substantial increase (59%) compared to same period of last year, surpassing €5 billion. Expectations are that for the entire year, investment volumes will reach and exceed the record volumes of 2015 with all CEE countries expected to perform strongly, says CBRE.
Gross take-up on the Czech Republic industrial market reached 349,300 sqm showing an increase of 11% on the Q1 2016 figures. The Industrial Research Forum has announced its final industrial market figures for Q2 2016.
According to Cushman & Wakefield, robust commercial real estate investment activity in the core Central European markets of Poland, the Czech Republic, Slovakia, Hungary and Romania continued in the second quarter of 2016 and reached EUR 2.6 billion, a 56% increase on Q1. This has pushed volumes over the last twelve months to EUR 9.3 billion, close to 2007 record levels.
Kraków's Nowe Czyżyny centre will be home to a new brand from the sports segment. The Newbridge leasing department has signed a lease agreement with 4F. In recent weeks, Monnari, Triumph and W.Kruk have also debuted in the facility, while Empik is preparing to open a store.
ROCKWOOL is expanding its office space in the Nowy Rynek D building, developed by Skanska in Poznań. In 2020, a competence centre was established on an area of 6,000 sqm. Now, the company has decided to lease additional 900 sqm.
Primark has opened the doors of its fourth shop in Poland for the first time in Katowice's Silesia City Center. The store occupies more than 3,600 sqm of retail space.
New appointments
Tezenis brand has joined the tenants of Galeria Warmińska. This is the first showroom of this Italian brand in Olsztyn in Poland. The new boutique occupies an area of approximately 190 sqm.
Anna Trębicka will be responsible for the integration of all CBRE business lines in the Łódź region in Poland, as well as the development and proper functioning of the Łódź branch.
108 Agency announced the appointment of Petr Jílek as the new Head of Property Management for the Czech Republic.
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