Českomoravská Nemovitostní acquires full ownership of Churchill Square office complex

Investment group Českomoravská Nemovitostní (ČMN) has solidified its presence in Prague’s premium office market, becoming the 100% owner of the Churchill Square office complex. Located near Prague’s Main Railway Station, the property boasts a total market value exceeding CZK 4 billion.

ČMN completed the acquisition in November 2024 by purchasing the remaining 25% stake from Corporate Finance House Group for CZK 1 billion. This transaction marks the conclusion of an agreement originally established in 2020 when the two entities jointly acquired the complex from Penta Real Estate. ČMN had already increased its stake in December 2023, and this latest purchase secures its full ownership.

Churchill Square, awarded the Best of Realty in 2019, offers 33,000 square meters of state-of-the-art office space with capacity for 3,000 occupants. With an impressive 98% occupancy rate—well above the Prague office market average—the complex has attracted major tenants, including Fortuna and Deloitte.

The building’s LEED Gold certification further underscores its appeal, meeting the growing demand for sustainable, high-quality office spaces in Prague.

“This unique transaction during the COVID-19 pandemic highlights our ability to identify and invest in premium office spaces in Prague,” said Josef Eim, Vice Chairman of the Board at ČMN. “The Prague office market continues to see increasing demand for modern, sustainable buildings that align with the highest tenant requirements. These are precisely the properties we aim to include in our portfolio.”

ČMN is emerging as a significant player in Prague’s commercial real estate sector. Alongside Churchill Square, its portfolio includes notable properties such as the Blox, City West C1 and C2, Václavské náměstí 62, and the Crystal office buildings. The group’s commitment to high-occupancy, premium spaces reflects its strategic focus on stability and long-term growth.

By completing the Churchill Square acquisition, ČMN not only consolidates its position in Prague’s competitive office market but also reinforces its reputation as a leader in managing and investing in top-tier commercial real estate.