Prague to get more office space

Several projects should be completed in 2017

Very few office complexes were completed in Prague in 2016, and the number should be five times larger this year. The largest of the new projects is Main Point Pankrác in Prague 4, from domestic developer PSJ Invest.

Main Point Pankrác should be finished in the third quarter of 2017 and has seen strong interest from prospective tenants, according to PSJ Invest. Work on the unique facade should start in the coming months and the developer is working with the tenants on the interior space.

Also underway in the Pankrác area is project from Austrian developer S+B Gruppe, which bought the City Deco and City Element projects from financially troubled developer ECM in 2014.

S + B has renamed City Element to Trimaran. The building should be completed in the last quarter of 2017. The building will offer offices and conference space. From overhead, the buidling is shaped like the letter E and has design elements reminiscent of a ship, such as rounded windows and balconies that look like decks. It will have more that 18,000 square meters of commercial space including a 4,500 sqm conference center. The building aims to get at least LEED Gold certification.

Another of the projects that should be completed this year is Butterfly in Prague's Karlín district. It offers 23,105 sqm of rentable area. The building with a green wall facade was designed by David Chisholm from CMC architects. The two buildings from overhead look like a butterfly, which gives the complex its name. Also in Karlín is Rustonka near metro Invalidovna, It will have 38,000 sqm including 2,400 sqm of retail space. It is located near a former machine works.

Prague 5 has several projects such as Mechanica, a set of three office buildings with a total of 33,500 sqm of office and retail space. Two of the buildings are new and one is a former aircraft engine factory, which is a protected landmark. All three buildings are pre-certified as LEED Gold low-energy designs. The first tenants should move in during the fall of 2017. Penta is the developer. Johnson & Johnson and Schindler CZ are among the tenants. Some 7,000 sqm of office space is still available. The complex has a plaza and a footbridge to the Jinonice metro stop.

Real estate consultancies said that last year saw a lot of demand for office space and little new supply, and that 2017 should be successful for developers.

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