Key Transaction in Prague 7

CA Immo, a key player in European commercial real estate, has successfully completed the sale of its Visionary office property located in Holešovice, Prague 7. This transaction underscores the dynamic nature of the Prague office market, particularly in vibrant inner-city districts like Holešovice, which continues to attract both tenants and investors.

Visionary Building Details

The Visionary building boasts approximately 25,500 sqm of gross lettable area, making it a substantial property in the Prague 7 landscape. At the time of sale, the building demonstrated strong performance with a 93% occupancy rate, including signed leases scheduled to commence in the future. This high occupancy level reflects the continued demand for quality office environments in well-connected Prague locations. The property also generated an annualized gross rental income of around €4.3 million.

Alignment with Investment Strategy

CA Immo stated that the sale aligns with its long-term investment strategy, which emphasizes focusing on large, Class A office properties situated in prime inner-city locations. This strategic move by a major property holder can signal shifts in portfolio focus within the market.

What This Means for Businesses Seeking Office Space in Prague

While the Visionary building itself has changed hands, this sale is indicative of the broader health and activity in the Prague office market. High occupancy rates in properties like Visionary suggest robust demand for Class A office space, particularly in accessible and popular districts like Holešovice. Businesses looking to rent office space in Prague should note that investor confidence remains high, potentially leading to continued development or repositioning of assets under new ownership. Staying informed about such transactions can provide insights into market availability and pricing trends in key Prague submarkets like Prague 7.

Advisory Roles

In facilitating this sale, CA Immo was advised by CBRE on commercial aspects and Dentons provided legal counsel.

Source: property-forum.eu