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News Release

Prague

The office building on Roztylská was sold for 240 million crowns. Chodov is growing in popularity.

A 9,000 sqm office building on Roztylská street in Prague was aquired by Vinton Development for CZK 240 mln (app EUR 9.4 mln) from PSN.


JLL helped with the sale of an office building in Chodov, Prague. The project on Roztylská with an area of over 9,000 sqm was sold at the purchase price of 240 million crowns. Vinton Development was the buyer and PSN the seller.  It is the highest transaction ever provided by S&MI (Small & Medium Investments) department under the leadership of Pavol Bak.

Currently, 95% of offices are rented in the building, with most of them occupied by small and medium tenants.

The interior of the building, thanks to renovations from 2000 and 2008, is in a very good technical condition. It offers a variable use and a perfect connection to the transport infrastructure with immediate access to D1 highway and metro C. An area of 25,000 sqm with 80 parking spaces is part of the nine-story building.

"We were pleased with the successful realization of the Roztylská building after nine months of intensive negotiations. The vendor has taken advantage of the market situation and has benefited from the rich experience of revitalizing and successfully managing office buildings. On the other hand, the buyer has the opportunity to concentrate on another object that fits into his long-term strategy," said Pavol Bak, Head of Small & Medium Investment JLL.

The Prague district of Chodov in the south-east of Prague is currently very popular among investors and a number of significant Czech and international companies have their offices there. This is, among other things, the result of the construction of many modern office buildings and administrative complexes in the area in recent years, including The Park and Prague Gate projects, offering the highest quality office space.