Zeitgeist Asset Management has begun converting the office building at Táborská 31 in Prague 4, Nusle, into a student residence with 394 beds. The company, which acquired the 1960s building in 2020, considered a change of use from the outset. The conversion is designed around a circular approach, retaining as many existing materials and structural elements as possible. The architectural concept was developed by studio arkhe D&B s.r.o., with SIS Construction a.s. serving as general contractor. Completion is expected at the end of 2027, with the first residents moving in in February 2028.
"Already at acquisition we were working with the scenario that we would sooner or later convert the building to a different type of use. Through negotiations with office tenants it became increasingly clear that a Grade B building would not meet their growing requirements over the long term. We therefore began preparing conversion scenarios and considered several options. We chose student housing partly because it is a segment we understand and have extensive experience with," said Peter Noack, CEO of Zeitgeist Asset Management.
The Prague student accommodation market has seen persistent demand outstrip supply, with modern residences typically fully booked at the start of each academic year and reservations taken up to six months in advance. "Demand from students is enormous and supply is far from able to respond to it. Táborská 31 is an example of how older office buildings can be used to address a real housing shortage while also creating an asset with a sustainably long-term yield," added Michal Nečas, managing director of Zeitgeist Asset Management.
The residence will offer single and double rooms as well as studio and one-bedroom apartments, with a number of accessible rooms included. The project targets BREEAM Refurbishment and Fit Out certification at Very Good level. Reused elements will include glass blocks, furniture and a fire sprinkler roller shutter. The concept also incorporates energy-efficient technologies, indoor greenery, fast digital connectivity and shared services.
Architect Marek Hinke, lead architect at studio arkhe, described the design approach: "Clean colours combining white and wood create a calm environment suited to both study and rest, while colour accents ranging from beige and grey through to green and brown give the spaces freshness and the project a visual identity. The communal areas, including the reception, study room, social room, dining room and shared kitchens on each floor, are creative and varied." The shared facilities will also include a yoga room and a gym.
Zeitgeist Asset Management manages assets valued at €1.2 billion and operates in the Czech Republic, Poland, Hungary and Germany.
