Central Group buys 8,000 sqm site in Prague 3 from PSN

Central Group buys 8,000 sqm site in Prague 3 from PSN

Published at: 2017-07-11 11:32 | Author: CIJ Journal
Central Group further strengthened its presence in the popular residential district Prague 3-Žižkov through the acquisition of two office buildings on a 8,000 sqm site along Olšanská street. Pražská správa nemovitostí (PSN) sold the asset for an undisclosed price. The two existing office buildings with 15,000 sqm of class B space boost Central Group’s portfolio to 140,000 sqm of office, warehouse and production space in several locations around Prague. The acquisition is in line with the developer’s strategy to expand its portfolio of office and warehouse properties, which it plans to operate and lease before redeveloping into residential. This is the developer’s second acquisition along Olšanská street this year. In March, it bought the Cetin headquarters from PPF. The new site is across the street from Central Group’s Residence Garden Towers, next to Parukářka park.

Similar Stories:

Anchor Group investing €9.5m in Pallady Towers
The Turkish real estate developer Anchor Grup will be investing €9.5m in the Pallady Tow  »
Mall Group's Hungarian e-shop investigated for tax evasion
Hospodářské Noviny reports that Czech owned Hungarian internet store Mall.hu is being i  »
Impact building 630 apartments in Bucharest
Impact Developer & Contractor, owned by Gheorghe Iaciu, will break ground on a new res  »
Bryan Wilson among the personalities nominated for ‘Best Leadership of the Year‘ title
Bryan Wilson, one of the co-founders and partner at the Prague-based law company Wilsons,  »
The price of renting in Prague skyrocketed over the first half of 2017 in imitation of the   »
The developer Penta has rolled out new residential projects in Prague’s 4th and 6th dist   »
The largest industrial investments completed between January and June included: BTS projec   »
In fact, some have become so desperate that they’re tackling some of the city’s large   »