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News Release


Ernst & Young partners with Jones Lang LaSalle to solve their accommodation future

Prague, 22nd June 2009 – Jones Lang LaSalle today announced that its Tenant Representation team has been exclusively instructed by Ernst & Young, a global leader in assurance, advisory, tax, and transactions to provide strategic advice on their future office accommodation in Prague. The company is currently seated in Charles Square Centre in Prague 2 and its contract will terminate in the near future.

Aleš Novotný, Consultant at Jones Lang LaSalle, commented: “Ernst & Young turned to us with the request to look for new office space accommodation in Prague due to the termination of the contract for their current location. The area represents between 7,500 and 9,000 sq m, leaving enough room for possible savings and quality improvement, provided that the future rent is secured in the right building and the lease terms are negotiated by a professional advisor.”

In their search, the company will solely consider modern, grade A buildings, located in the wider centre of Prague, with easy access by metro and other public transport.

Petr Kareš, Head of Tenant Representation, Jones Lang LaSalle, says: “Given the current market conditions, we advise large companies seeking to extend their lease or relocate, to begin the project minimum 2 years in advance. Speculative development is slowing down and, hence, big occupiers also need to consider buildings made to suit. The management of Ernst & Young is well acquainted with the current market conditions and so we agreed to embark on the project reasonably in advance.”

Furthermore, the current economic climate gives a new voice to the green agenda, a policy that is certainly not new to Ernst & Young. “As part of Ernst & Young’s strategy to minimize the impact of its business operations on the environment, “Green Buildings” will be seriously considered when identifying new office premises. For this reason, we have asked Jones Lang LaSalle to include environmental parameters into the comparison analysis,” explains Petra Di Nicola, CSE Real Estate and Facilities Leader at Ernst & Young.

Aleš Novotný concludes by saying: “Ernst & Young has a clear vision of their office space and their comprehensive understanding of the current market conditions, together with Jones Lang LaSalle’s leading position on the market, makes this cooperation a perfect match.”