The end of the year was in a rush in the field of investment in commercial real estate and confirmed both the dominance of Prague and Czech investors
Prague, 7 th of January 2020 - The volume of investment in commercial property in Prague approached 80% of all Czechtransactions last year. Even though they reached a total volume of €1.2 billion. The end of the year was relatively hectic. For example German investment company Deka Immobilien sold the Lighthouse Towers administrative complex in Prague's Holešovice to Czech firm Star Capital Investments just a few days before the arrival of the new year. According to CBRE, the world leader in commercial real estate services, there were more than twenty running negotiations in the last calendar month that will be closed during this year. Transaction volume in commercial real estate in 2020 will reach in the Czech Republic €3 billion. And office buildings will be once again the most demanded.
The sale of Ligthouse Towers confirms the fact that local investors were the most active in the Czech market. Czech capital had around 40% of the total volume. Followed by South Korean investors with almost a 20% share and Germans with 10%.
Lighthouse is a high quality office building with more than 27 000 sqm . The main tenants include companies, such as ČD Cargo, LMC or PharmaSwiss. Deka were one of the first international institutional groups to recognize the potential of the district back in 2007 and we are pleased to have had the opportunity to manage this investment on their behalf and to advise them on their disposal.
The Lighthouse complex offers top standard, attractive design and a splendid view over river Vltava and Prague panorama. There is a restaurant Lighthouse Coffee, public canteen, snack bar, tobacco shop, pharmacy and medical clinic in the house. The advantage for the tenants and their partners is the fully equipped conference spaces. There is a courtyard in between the two buildings of Lighthouse, which offers a nice leisure area with tables and chairs with connection to park and green stripe along the river with benches and volleyball court. Transport accessibility is very good by tramlines from metro stations.