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Prague, 27th May 2014 — JLL´s Capital Market team represented an institutional global investor in the disposal of Burzovní palác, a 10,000 sqm office and retail building located in the Prague Central Business District. The building is multi-leased to a range of national and international tenants and has been the home of Prague Bourse since reopening after a hiatus caused by the second world war and communist regime up until 1993. The building also boasts tenants including Regus, Česká pošta, Zara, Aeroflot and Ewopharma. The transaction was in the region of €27m.
Stuart Jordan, Head of Capital Markets at JLL, commented: “The transaction confirms the continued strong international interest that remains in centrally located commercial real estate in the capital. Driven by the weight of capital looking for insulated investment opportunities and an element of price arbitrage against alternative capital city locations, we expect the disposal will be indicative of further CBD transactions to occur in 2014.”
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