The Austrian company Immofinanz sold the Prague Airport Business Center to the investment fund Jet Industrial Lease (JET) of the Brno billionaire Igor Fait. This is according to today's press release of the law firm bpv Braun Partners, which advised on the sale, and the press release of Jet Investment. The parties did not disclose the value of the transaction. Billionaire Radovan Vítek is interested in taking over Immofinanz.
Despite the negative impact of the covid-19 pandemic on economic activity, the European commercial real estate market is on the verge of recovery. According to the analysis "EMEA Real Estate Market Outlook 2022" by CBRE, the expected volume of investments will return to pre-pandemic values by the end of 2022. This will also be reflected in the commercial real estate market in the Czech Republic.
Demand for commercial real estate in the country is still strong. The Czech market is established as highly sought after and provides investors with stable returns. It is well resistant to asset value fluctuations and supported by strong foreign and domestic capital.
The increase in new office space is the lowest in five years this year and the situation will be similar next year. The winner is a hybrid model combining work in the office and from home.
UBM Development Czechia, which completed and approved the Astrid Offices office building in Prague's Holešovice in May, sold it to the PORTIVA investment group. Both parties have decided not to disclose the amount of the transaction. The property, which has 4,300 m2 of office space and 440 m2 of retail space on the ground floor, is now fully leased. Since December, it has also become the headquarters of UBM Development Czechia, which has moved here from its offices in Liben.
CAPEXUS is one of the leading Czech companies engaged in the design, planning and implementation of modern and energy-efficient office space, as well as the revitalization of older buildings with commercial use. In connection with the pressure on decarbonisation and energy-efficient operation of commercial buildings, a high demand for modern and functional revitalizations is expected on the real estate market. Cooperation with CAPEXUS will make it possible to reach new customers on the real estate market, especially investors in office space and tenants themselves. The merger of the two companies has already been approved by the Office for the Protection of Competition.
The real estate division of the PPF Group has experience with the international company Hines from London and Moscow. PPF Real Estate is newly buying the New City office complex from Warsaw, thanks to which the company is expanding its operations to Poland. The value of the transaction was not disclosed after the agreement of both parties.
More than 40% of all office real estate on the domestic market is certified by one of the internationally recognized systems that confirm its sustainability: the British BREEAM or the American LEED. In this respect, the Czech Republic, together with other countries in the CEE region, ranks among the champions of the whole of Europe - the average is around 20%. Much has been written about the positive impact of certified buildings on the health and well-being of employees, minimizing environmental impacts and saving operating costs. However, one question remained unanswered: how is the certification of office buildings really reflected in their performance, ie prices per square meter of rented space and occupancy? CBRE, the world leader in commercial real estate services, is now providing the key answer. It is based on an analysis of almost 22,000 leases concluded in the last five years in 12 European countries, including the Czech Republic.
UMM Development Czechia executives Helmut Berghöfer (with the award plaque) and Josef Wiedermann (next to him on the right) accepted the award on the podium. The award was presented to them by a member of the expert jury Silvie Marešová (Colliers) and Tomáš Běhounek (law firm bnt - partner of the gala evening). Petr Čejka (Algon) - on the right next to J. Wiedermann - and Jan Sierocinski-Vanek (development manager of UBM Development Czechia) also came to the podium for the award. The award plaque will be placed on the facade of the Astrid Offices office building, where all offices and retail space on the ground floor are already rented. . The award was presented to them by a member of the expert jury Silvie Marešová (Colliers) and Tomáš Běhounek (law firm bnt - partner of the gala evening). Petr Čejka (Algon) - on the right next to J. Wiedermann - and Jan Sierocinski-Vanek (development manager of UBM Development Czechia) also came to the podium for the award. The award plaque will be placed on the facade of the Astrid Offices office building, where all offices and retail space on the ground floor are already leased.
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