Visionary is an A-class office building, completed in April 2018, which has 23,000 sqm of gross leasable area. Located in Prague 7, one of the most dynamically developing districts in Prague, the building is currently around 91% occupied with tenants such as Accenture, Business Link and WMC/ACTUM Digital on an average lease term of more than seven years. During the sales process, CA Immo was advised by Clifford Chance (legal), E&Y (tax, financial) and Obermeyer Helika (technical). Legal advisers for Skanska was Dentons. The transaction was closed when the contract was signed.
According to Václav Jonáš, managing director of CA Immo in the Czech Republic: "Visionary office building exactly fits our expansion strategy plans in Prague and is a great addition our high quality Prague portfolio. We are fully convinced of the potential of the location and highly appreciate the forward thinking, the vision that Skanska Property applied during the development of this outstanding product. Equally important for us was the impressive leasing success of Visionary, reaching more than 90% leased status at completion, which is for us a clear proof that the building is attractive to various types of tenants."
Alexandra Tomášková, Managing Director of commercial development business in the Czech Republic says: "With the Visionary project, we kick-started the development of this part of Prague 7, which - although it offers great potential - has been somewhat overlooked from the aspect of the construction of modern office buildings. We secured attractive tenants for Visionary, and the building was virtually fully occupied several months before its completion in April 2018. We were also pleased by the interest of several leading real estate investment firms. By the acquisition of Visionary, CA Immo as a powerful corporate investor has confirmed that Holešovice is booming, and it has all the prerequisites to become a sought-after business hub."
Visionary is located along the left bank of the Vltava river in Prague 7. As is the case with Karlín (Prague 8), the Holešovice district is quickly becoming a hub of development for new offices and apartments. Visionary is the first completed top modern office project in the immediate vicinity of the Nádraží Holešovice subway and train station.
The building is expected to receive LEED Platinum and WELL Core & Shell certifications (first in the Czech Republic), which monitors factors that affect people's health and wellbeing (e.g. quality of air, water and access to a source of light) and focuses on personal comfort, access to healthy food and the effect of buildings on physical and mental health.
The common areas and retail spaces of the building offer a range of services not only to its tenants but also to the local community. The building comes with a garden, and people will have access to amenities such as a multifunctional sports area. In addition, many other services are directly located in the building, such as a doctor‘s clinic, pharmacy, kindergarten, a restaurant and a self-service laundry; a running track is also provided on the rooftop. Moreover, shared e-car and bike facilities are available for tenants. A mobile app connects all the services in the building and its surrounding area.
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and UK. Skanska develops commercial properties in selected home markets in Poland, Czech Republic, Romania and Hungary, while the residential development is active in Prague and Warsaw. Skanska also offers services in public-private partnerships. In 2017, Skanska had sales of SEK 37 billion and about 16,000 employees in its European operations.
More information can be found at: www.skanska.com/property
About CA Immo
CA Immo specialises in office properties in Central European capitals. The company was founded in 1987 and operates today in the core markets of Austria, Germany, Poland, Hungary, Czech Republic and Romania. CA Immo is listed on the Vienna Stock Exchange and included in the ATX index and holds property assets of around € 3.8 billion.
CA Immo in Prague
The Prague asset portfolio, which accounted for approximately 7% of the total portfolio of CA Immo as at 31 March 2018, consists of four office buildings, including the River City Prague properties Danube House, Amazon Court and Nile House. The book value of the investment portfolio comprising around 106,100 sqm was approximately € 267 m as at 31 March 2018, the occupancy rate stood at 98%.
For further information please contact:
Petra Machartová, Skanska Commercial Development
Tel: +420 603 587 928, e-mail: email@example.com
CA Immo Real Estate Management Czech Republic s.r.o.
M: +420 739 058 951
Crest Communications a. s.
M: +420 731 613 606