LaSalle begin construction on new retail and office project on Na Příkopě street in Prague

by   CIJ News iDesk III
2022-09-01   07:14
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LaSalle Investment Management (LaSalle), one of the world's leading real estate investment managers, has started the construction of the 100YARDS project at the prestigious address of Prague's Na Příkopě avenue. Thanks to the connection of three neighboring buildings on the street, a world-class multi-purpose complex will be created here, which will offer first-class retail and office space. Work on the reconstruction of the complex, whose history dates back to the 19th century, is already underway, and the opening of 100YARDS is scheduled for the second half of 2024. The design of the project was created by the architectural Studio acht under the leadership of Václav Hlaváček, and the company Gleeds was entrusted with its management.

The name of the project was inspired by the total length of the facades of three connected buildings: the houses with the addresses Na Příkopě 23, 25 and 27. It is, according to the optics of the imperial measuring system, exactly 100 yards, which is the equivalent of roughly 91 meters. At the same time, the length of the facade connected in this way represents roughly 10% of the total length of Na Příkopě street. This means that upon completion, the project will offer the longest continuous display area in the iconic shopping grade location offered by a single landlord.

The project is characterized by the use of environmentally friendly technologies and high standards of well-being, from the beginning of its creation to the start of operation. These elements include a system for limiting light pollution, support for the use of renewable sources of electricity through orders for energy from green sources, or intelligent metering systems and control of electricity consumption. A rainwater collection solution will also be installed in the building, which will be used to water the greenery there. An advanced drinking water management system will then enable savings of up to a third in its consumption.

Sustainable approaches are already reflected in the construction process of 100YARDS itself. The project is created with the use of low-emission materials, there is also the reuse of original building materials, which contributes to the reduction of carbon emissions in the life cycle of the building. Upon completion, LaSalle will submit the project for evaluation under the LEED® accreditation system with the goal of achieving the Gold level.

The reconstruction also takes into account the historical value of the entire location and preserves elements of the classicist facade, which underlines the premium character of the property.

From a rental perspective, 100YARDS will provide exceptional opportunities. Three floors of first-class retail space will be available here, of which two are above ground and one is underground. The total area for retail will be 3,600 square meters. It will offer the possibility of flexible layout and facilities of up to 1,000 square meters per unit. Thanks to this, the project becomes an ideal destination for flagship domestic stores of the most important global brands. Cushman & Wakefield became the exclusive agent for the lease of 100YARDS retail space.

The project will also offer 3,500 square meters of premium offices across three floors. Here, future tenants can use both their flexible layouts and 300 square meters of open space on the terraces or in the courtyard with greenery, which provide a pleasant environment for work and meetings in the outdoor background. The office rental will be covered by JLL in exclusive representation.

By combining three historic buildings on one of the most prestigious boutique streets in Central Europe, the 100YARDS project will contribute significantly to the future development of Prague's business center.

Hagen Knaupp, LaSalle Investment Management's Director of Asset Management for Continental Europe, said: “100YARDS will become a new premium shopping and office destination situated at one of the most prestigious commercial addresses in Central Europe. The location in the very heart of the metropolis, which is visited by millions of visitors every year, provides an unrivaled opportunity for the presentation of world brands. Thanks to the fact that the project will bring one of the longest display areas in the high street retail segment in Prague, we have a unique opportunity to transform the surrounding environment through it and increase its attractiveness for local residents and foreign visitors. 100YARDS will also include offices with the potential to be among the most desirable in the city, which have been designed and built according to the latest technical and sustainable standards - to become a pleasant environment for tenants and their employees."

Václav Hlaváček, head architect of Studio acht, added: "The implementation of a project connecting three buildings in such an important and prestigious location is a welcome challenge for us. The result of the reconstruction will be a functional, at the same time sustainable retail and office center meeting high standards and providing flexible layouts. Tenants here will be able to use modern sales and office concepts with high-quality work facilities - all behind a faithfully preserved historic facade."