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  • Coworking gains popularity in the CEE region

    The increased interest of global corporations in coworking spaces was a notable trend that impacted on the office markets of the four largest capital cities in Central and Eastern Europe (CEE) in 2018. The total flexible office stock of Budapest, Moscow, Prague and Warsaw stands at 286,000 sq m, accounting for approximately 1% of the combined office market of these cities (29.9 million sq m). Demand generated by coworking operators in 2018 made up 5% of the overall office take-up in the CEE capital cities. 
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  • Cushman & Wakefield collects trio of prizes at HOF Awards 2019

    The company picked up a total of three awards at the gala event, reflecting an exceptionally strong year for the company. Not only did it win the Project Management and Property Management Company categories, but it excelled by winning the Retail Real Estate prize as well. 
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  • Palác Špork changes ownership, purchased by Generali

    Cushman & Wakefield assisted Generali Real Estate in the acquisition of Palác Špork, a unique scheme in Prague 1. The seller is SEBRE, a.s. The price remains undisclosed. The agreement was signed on 11 March. 
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  • Global Real Estate Investment Volumes Reach Record High

    Real estate transaction volumes in 2018 were the strongest on record reaching US$1.75 trillion; a 4% year-on-year (y/y) growth and surpassing previous highs of US$1.68 trillion in 2017, according to new data from the 2019 Global Investment Atlas report.
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  • Don Giovanni, one of Prague’s largest hotels, is changing owners

    Cushman & Wakefield in collaboration with Hodges Ward & Elliott represented Mornington Capital, an international hotel investment fund manager in the sale of Prague’s iconic Don Giovanni Hotel in Prague. The deal was signed on 20 February (price undisclosed). The new owner is a leading family-owned fund from Scandinavia. Czech-based Czech Inn Hotels remains the hotel’s operator. 
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  • Myslbek newly managed by Cushman & Wakefield

    Cushman & Wakefield has become the new property manager for Myslbek, the iconic multi-purpose building owned by AEW. As part of Cushman & Wakefield’s international collaboration, its Polish office has become the manager of two major shopping and office centres in Poland, Klif in Gdynia, Klif House of Fashion and Klif Tower in Warsaw from the same owners. Both offices assume their property management duties in February 2019. 
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  • Cushman & Wakefield issues historically first chart of the top office building owners and developers

    • CPI Group is the largest owner of office space in sq m in the Czech Republic while Penta Investments has been the most active developer in the last 10 years  • Czech investors own 65% of the domestic office market  • CPI Group a CTP Invest will closely compete for the position of the largest domestic owner in 2020, the latter currently being the leader in the regions  Cushman & Wakefield has mapped the office property market in detail and made a chart of the largest owners and the most active developers of office buildings in the main markets of the Czech Republic*. At this point, there is 4.23 million sq m of office space in the Czech Republic. CPI Group is the biggest owner with 22 properties taking up 5% of the total area. The three biggest office owners in Prague control about 15% of the entire market. Penta Investments has been the most active developer over the course of the last ten years. 
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  • Investments in commercial properties will exceed EUR 2.8 billion this year. Czech investors account for 65%.

    According to Cushman & Wakefield, the total amount invested in commercial real properties will exceed EUR 2.8 billion in 2018. The year’s biggest transaction is the sale of CTP’s three industrial parks to Deka Immobilien, a leading German investor, for EUR 460 million. The market has been the most active in the fourth quarter when approximately a half of the total annual volume of investments has been transacted. Czech investors have invested almost EUR 2 billion, accounting for 65% of investments in the Czech Republic. Of the total investment volume, 60% has been invested in Prague and the rest in the regions. Cushman & Wakefield expects the market to remain highly active next year, with the value of the assets also growing. The greatest part of transactions in 2019 will be attributable to offices, with several major transactions being in the pipeline. In terms of capital structure, Asian capital will assert itself strongly alongside Czech and Western capital. 
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  • Czech investors changing the ownership of Forum Poprad in Slovakia

    Multi Corporation and GEMO HOLDING have sold the Forum Poprad shopping centre in Poprad, Slovakia. The asset has been acquired by the real estate fund of ZFP Investments and MAT Corporation, part of the DBK group. The sellers have been advised by the real estate services provider Cushman & Wakefield. The transaction closed on 7th December 2018. 
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  • CEE hotel market experience growing appetite and diversity of investors. Innovative concepts for new generation of travellers set the new trends.

    • CEE* hotel sector to reach EUR 800m by the end of 2018, the lack of premium asset being the biggest challenge. This may soon change with owners realizing it is the right time to sell and harvest investments.  • Diversity of buyers’ origin is growing with 67% of total volume being cross-border investment. Interest from institutional and listed investors rapidly increases.  • Only 42% of room stock within the CEE capitals is branded, international brands see opportunities in the market.  • CEE market delivers new hotel concepts to answer the needs of millennials  • 3-4-star hotels account for nearly 60% of new supply. 
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  • Forum Nová Karolina changed its owner

    Meyer Bergman, the investment manager specialized in urban mixed-use real estate, has sold Forum Nová Karolina shopping centre in Ostrava, Czech Republic to REICO, Česká spořitelna's real estate fund manager. Cushman & Wakefield advised Meyer Bergman on the disposal of Forum Nová Karolina. 
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  • Cushman & Wakefiled recognized for it outstanding results at CIJ awards 2018

    Cushman & Wakefield teams have been awarded in 5 categories at the 2018 CIJ awards Czech Republic on Thursday 29 November 2018, held at Prague Marriott hotel. It is an outstanding result having the most awards of any including: 

    • Best Retail Power Broker 
    • Best Capital Markets 
    • Best Project Management 
    • Best Property Management 
    • Cushman & Wakefield was also involved in the Best Transaction of the Year, awarded to be NEPI for the acquisition of Forum Ústí 
    The CIJ Awards Czech Republic events are the longest-running commercial property awards to recognize and celebrate projects, companies, individual teams as well as transactions that excelled in performance. 
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  • Shortage of prime investment product causing a decrease in overall transaction volume in CEE.

    In the first three quarters of 2018 the total investment volume in six CEE countries (Poland, the Czech Republic, Slovakia, Hungary, Romania and Russia) reached EUR 8.9bn. The CEE investment market is still very attractive to institutional investors, a shortage of prime product being the biggest challenge. Investment activity in Poland exceeded the value recorded for the whole of 2017 and is expected to reach a record high of EUR 6bn by the year’s end. Sustainable and solid performance was recorded in Hungary and Slovakia with volumes hitting those in 2017, whereas Russia, the Czech Republic and Romania are expected to close the year at lower investment volumes, slightly below the 2017 levels.  Q4 2018 is expected to be the most active period in terms of investment activity, with a promising pipeline. If all planned transactions are closed as expected, the total investment volume in the six countries of the region will reach approximately EUR 13bn, less than the previous year’s EUR 15.3bn. 
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  • Czech Republic makes it into the Top 20 world’s most expensive retail streets for the first time. Hong Kong’s Causeway Bay returns to the top.

    • The Czech Republic has made it into the top 20 world’s most expensive retail streets for the first time. With rents of EUR 230 per sq m per month, Prague’s Na Příkopě Street is at No. 19, leaping three positions up from the last year.  • New York’s Upper 5th Avenue slips to second after significant rental decrease  • London’s New Bond Street is the most expensive European city and third globally  • The 30th edition of the global report shows new trends in the changing retail sector 
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  • Cushman & Wakefield’s Latest Blockchain Report Shares Insight on Implications for Real Estate Industry

    Cushman & Wakefield today released insights on how blockchain, the $945 million-dollar technology underlying cryptocurrencies, will impact the commercial real estate sector around the globe.
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  • European Office Rents Grow for Eighth Consecutive Quarter

    European offices have recorded eight quarters of continuous rental growth by achieving a 0.7% increase in Q3 2018, according to Cushman & Wakefield’s latest DNA of Real Estate report.

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