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News Release

Prague

Rohan Business Centre has a new developer who will begin construction on a speculative basis

Karimpol Group purchased project Rohan Business Centre from ČSAD Holding with the assistance of Jones Lang LaSalle


Prague, 2nd August 2010 - Jones Lang LaSalle is pleased to announce the completion of an investment transaction between the buyer Karimpol Group and the company ČSAD Holding, who sold the project Rohan Business Centre. We are further pleased to announce that the project was started on a speculative basis. Jones Lang LaSalle was instructed by the new developer Karimpol Group as the exclusive leasing agent.

“It is comforting to see that our expectation, which we presented at the first press conference of Rohan BC last year became a reality. At that time we expected Rohan BC to start on a speculative basis, provided that we had stable demand. Considering the fact that Karimpol Group completed the purchase transaction and the construction of this development has just started, we can gladly confirm that the new administrative building Rohan BC will be delivered onto the market March 2012 at the latest. On top of this, it is necessary to highlight that Rohan BC would be the first speculative development started during 2010, showing a positive sign to the market and verifying the investors’ confidence in the healthy Prague office market,” explained Eduard Forejt, Head of Office Agency at Jones Lang LaSalle.

Martin Prokeš from Karimpol Group added: “Karimpol Group has always been very active on the Prague office market and we continue to see this market as a good and stable opportunity for us. Our last development in Prague - Diamond Point was completed and successfully leased 3 years ago and we want to continue our successful developments in Prague. Rohan BC is an ideal opportunity for us to be active on a stagnating market from the newly delivered supply point of view. Thanks to the diligently prepared project documentation and the arranged construction permit by the seller, we do not have to spend additional time on redrawing and other planning works. The speculative development of this 8,500 sq m office project is the first of our planned investments on the Prague office market.” 

Rohan Business Centre is located in the already established administrative part of Karlín in Prague, found on the right bank of the river. The building is situated walking distance from the metro station B – Křižíkova and adjacent tram stops operating on Sokolovská street. The important traffic spot, metro Florenc (junction for lines B and C, bus station) and also border of the right city centre is in the distance of only one stop by metro. It is also reachable by car directly from the main Rohanské nábřeží leading to Prague’s magistrale. Apart from having its own restaurant on the ground floor, there are other services in close vicinity, namely shops, banks, a post office, hotels, conference rooms, restaurants and a petrol station.