PASSERINVEST GROUP, the investment company and Czech builder behind the creation of BB Centrum (Brumlovka) in Prague 4, invested more than a quarter billion crowns in the modification and construction of the public space in 2020 and the first half of 2021. The amount of CZK 275 million crowns, without any state or other subsidies, was used for, among other things, repairs to Želetavska Street, the construction of the new Náměstí Ellen G. Whiteové, the installation of the moving sculpture “Brouk” (Beetle) and the reconstruction of Balance Club Brumlovka. In this way, the company is fulfilling its philosophy to build a sustainable, and environmentally- and user-friendly environment, which has been part of the company’s DNA from the very beginning.
At the beginning of the year, it seemed that many coworking centers or shared offices could not survive the measures associated with the Covid-19 pandemic. It was on shared workspaces, whose philosophy is based on meeting, personal communication and cooperation, that the constraints fell very hard. However, as the results of the June analysis of the consulting company BNP Paribas Real Estate show, this spring most of the operators of coworking and serviced offices felt a new wave of interest.
Preparations for another large project of the Passerinvest development group took almost fifteen years. After the BB Center in Michel, it will start developing a second location in Prague's Roztyly. So far, the plans cover about half the area of BB Centrum, but even there, developer Radim Passer has been buying more land on an ongoing basis.
Building B in Prague’s BB Centrum has acquired another tenant. This March, ABInBev, the largest brewer in the world, owning brands such as Stella Artois, Leffe and Corona, headquartered its global shared service centre here on an area of more than 7400 m2. The owner and manager of the building is the Passerinvest concern.
The activity of real estate investors fell to the lowest values since 2013 in the first quarter of this year. The owners changed their commercial (and residential) buildings for EUR 310 million. Rather than the effects of covid measures, the result was affected by the lack of quality real estate to buy.
The PASSERINVEST Group concluded a significant transaction, which will evidently be one of the largest real estate deals of the year, with the sale of the Nová Karolina Park office building in the centre of Ostrava. The investment group RT TORAX Group became the new owner.
Administrative Building B in BB Centrum in Prague 4 won first place in the prestigious real estate competition CIJ Awards Czech Republic 2021, and was awarded in the Best Legacy (Redevelopment) Development category. The complete revitalization of the building and its surroundings, thanks to which it was again included among the Prague administrative buildings of category A, was completed in mid-2020. The CIJ Awards competition, which annually recognizes the most significant achievements and personalities in development
BB Centrum will welcome a new retail tenant in the spring of this year - the company bikero.cz. The number one in the domestic market with cycling and sports equipment will rent retail space of 274 m2 leading to the main Vyskočilova street on the ground floor of the newly renovated office building B. Attractive location on the main road in the heart of BB Centrum and in the catchment area near important arteries, was one of the decisive criteria for bikero in selecting the location for the new unit. The owner of the building is the development company Passerinvest Group.
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