1 July, 2019
DTZ INVESTORS BUYS €130 MILLION PRAGUE OFFICE FOR SOUTH KOREAN INVESTOR
![](/media/263845/prague.jpg?crop=0,0.21646660510926438,0,0.034225915666358867&cropmode=percentage&width=730&height=365&rnd=132191673870670000)
DTZ Investors (European Asset Manager) and Mint Investments Group (Czech Asset Manager) have acquired the freehold interest in Main Point Pankrác, Prague for €130 million, representing a Net Initial Yield of 4.50% on behalf of a South Korean Investor.
The Main Pont Pankrác office building is located in Prague's Pankrác district. The property comprises 23,500 sq m of mixed use accommodation over 10 storeys and 406 parking spaces on three underground floors. Key tenants include McKinsey, Unipetrol and a subsidiary of BNP Paribas.
The property was developed in 2018 by leading developers, PSJ INVEST and designed by local architects, DAM architekti. The low-energy building has recently achieved a LEED Platinum certification through its incorporation of several high-profile sustainability features. One feature includes a specially designed facade using recently patented Japanese technologies, which removes smog and other pollutants from the surrounding air.
Tony Gibby, Director DTZ Investors, said: “We are delighted to have purchased such a high-quality property in Prague. The core income profile, quality of occupiers and specification of the building make it a rare asset in Central and Eastern Europe”.
David Peacock, DTZ Investors, said: “This asset is at the leading edge of environmental standards, making it a stand out property. Clearly its location, connectivity and the quality of the build has resulted in a number of exceptionally high-profile tenants relocating to the building”.
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