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Articles - Office space

Petr Narwa: The pandemic has disrupted the income of real estate investors

Petr Narwa, Head of Transaction & Consulting Services at Prochazka & Partners, who has long been involved in commercial real estate and investment services, answered the interview. What does Petr say about the current situation in the market, where tenants are currently trying to save as much as possible and where the pandemic has disrupted the income of real estate investors?

Moderan: Commercial real estate managers are also digitizing in the Czech Republic and Slovakia

Currently, there is a clear trend for commercial property managers to realize the need for digital tools for professional property management. Although Excel has historically been sufficient, there are now more appropriate tools available that are based on specific needs. Moderan, which was founded in 2015 in Estonia, announces its official expansion into the Czech Republic and Slovakia.

Wilsons will move into The Flow Building in the second half of this year

The independent law firm Wilsons has signed a lease for 800 square meters of office space in The Flow Building. The building on Wenceslas Square, which was built by the development company Flow East, is one of the most impressive examples of modern sustainable architecture in Prague. Wilsons will move to its new premises in a highly sought-after project in the third quarter of 2021.

IMMOFINANZ comes with an offer of flexible offices in the myhive Palmovka building

IMMOFINANZ is introducing new flexible services for its tenants in the Czech Republic under the myhive brand. It offers companies and individuals customized office products that give them a flexible choice of four options according to their current work needs and rental time. Top offices in the modern myhive concept will bring individual solutions that meet the needs ranging from small offices for one person to large corporate offices. The total leasable area in the Palmovka myhive building is 21,500 square meters.

Investors' appetite for acquisitions remains high

According to the latest Savills report, the volume of commercial real estate investments in the Czech Republic in the second half of 2020 amounted to € 797 million, with 60% (ie € 478 million) of these investments related to Prague real estate.

The first tenants report to Masaryčka by Zaha Hadid

23 thousand square meters of offices and almost five thousand square meters of shops at a price of 25 to 30 euros per meter. Penta has opened an offer of premises in the upcoming Masaryčka complex and the first applicants are already applying.

New Work concept comes with a franchise

According to JLL, the demand for flexible spaces will increase by 300% due to Covid-19. The needs of clients have changed significantly and flexibility and other services are the main criteria according to which the client chooses today. Landlords and investors need to adapt their concepts accordingly. New Work - one of the leading flexible office operators in Central and Eastern Europe - is launching its franchise concept in response to these needs.

Weber-Stephen has leased premises in The Flow Building

Weber-Stephen Products, LLC (Weber), a leader in the production of innovative and high-performance barbecue products, has signed a lease for 1,200 square meters of office space in The Flow Building on Prague's Wenceslas Square. The Flow Building by the developer Flow East is one of the most distinctive buildings in Prague and the demand for space in the building, which is an example of technologically advanced and modern architecture, is high. Furnishing offices for Weber is scheduled for May this year, and the company will move to the new facility by September 2021.
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