Office building after complete reconstruction, Prague, Czech Republic

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Office building after complete reconstruction, Prague, Czech Republic

15,254,000 €
2,284 € /m²
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  • Total area
    6,678 m²
  • Yield
    6.1%
  • Rental rate (m²/month)
    12 €
  • Built in 
    1970
Details
Property parameters
  • Leasable area: 6,678 m²
  • Land area: 2,236 m²
  • Number of parking lots: 63
  • 10-floor building
Financial performance
  • Annual income: 928,509 €
Tenants
  • Occupancy: 90 %
Property status
  • Most recent total renovation: 2017
Transaction costs
  • Broker: 2.0%

Ten-storey office building in excellent condition. A complete reconstruction was carried out, the building does not require any additional investments.

Description

Office space ranges from 15 m² to 600 m². All offices are equipped with air conditioning, each floor has a kitchen and a toilet.

The building has two elevators and underground parking for 63 cars.

In 2017, the sunscreen was replaced and and the facade of the building was completely renovated.

Financial performance

The cost of the property is 389,000,000 CZK/ 15,254,000 €.

The absolute annual income is 23,678,760 CZK/928,509 €.

The current yield is 6,1%.

Tenants

Office building is currently occupied by 90%.

Transaction costs

Brokerage fee is 2%.

Location

The property is located in Prague 3 characterized by a large number of Art Nouveau apartment buildings, major buildings, parks, restaurants and cafes. The area has good transport links.

The property is located on one of the key arteries of the city, near the tram station and all major infrastructural facilities.

Prague is the capital of the Czech Republic with the population of more than 1.28 million people.

The city is the main political, economic and cultural center of the Czech Republic and a major tourist center of Europe. The historical center of Prague is listed as a UNESCO World Heritage Site. The number of tourists in Prague in 2017 exceeded 10 million people.

From the branches of industry in Prague machine building (machine-tool building, transport, electrical engineering), chemical, textile, clothing, printing, food industry are developed.

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