The residential district of Waltrovka with the administrative buildings Aviatica, Dynamica and Mechanica, the administrative buildings Florentinum and Churchill – those are just some of the projects from Penta Real Estate’s portfolio in the Czech Republic.

Petr Palička, director of Penta Real Estate, briefly assessed the year 2020 for us.

The end of the year is approaching and with it a period of reviews. What was this year like for your company?

It was actually quite good. We managed to complete buildings that we planned – Maison Ořechovka, Churchill, and received a planning permit for Nusle Brewery whereby we approached commencement of the development. I believe we were doing quite well all year except for certain exceptions caused by the coronavirus.

To what extent did you have to change your plans due to the pandemic?

The coronavirus naturally has a negative influence. Firstly, spring brought an overall slowdown – the situation took us all by surprise, we weren’t used to working online, administrative processes stopped for a while and it took some time before everything got back to normality again. And then, the pandemic had a relatively significant influence on the administrative market as it was negotiations with new tenants that primarily slowed things down. The question is, how long will it take but it certainly did have an impact on this year’s results…

How are individual projects currently progressing?

The administrative building SmíchOFF is finished and represents a typical example of what I was talking about. We get quite a few interested clients who like the premises but hesitate with final decision. They don’t reject it but they say they cannot make any decisions at the moment… So far, we have about 40% of the building unoccupied – three storeys. Waltrovka – in the original location – is completed, all the apartments are sold and the only thing we still own there is the nursery school. We are currently negotiating its sale to the city district of Prague 5. We are preparing construction of Waltrovka III, an area situated between the completed part and ČSOB. We have a planning permit and the relocation of a sewage system and other ground work is currently in progress there. As for the Churchill building, we are negotiating a purchase with a client and I believe that we will then conclude the transaction before the end of this year. We are building Maison Ořechovka; the first phase has undergone final building approval and the second should be completed in about half a year’s time. We have, so far, sold about 50% of the apartments. Another relatively interesting project with about one hundred apartments is the Victoria Palace project in Vítězné Square in Prague 6. We have already held a planning permit for two years but it was opposed by a local activist. The settlement is hopefully heading to the end and we will therefore be able to commence. Otherwise we are preparing different issues associated with Masaryčka and amongst others both architectural and urban tenders and competitions. We have plenty of work.

Projects in preparation also include the new district that is being developed in the brownfield of Nusle Brewery. At what phase is the preparation?

We have a planning permit for the northern part and the process for a building permit is in progress; as for the southern part – it is the one with a listed building and adjacent buildings – the process for a planning permit is in progress. The complex will comprise approximately 450 apartments and some commercial premises – shops, cafés, services and perhaps also atypical offices. The construction is to proceed in two phases. The timing will depend on the sale. By the way, we have recently launched the sale of the first phase. The buildings should also be interesting from an architectural point of view. The northern part was prepared by the studio CHYBIK + KRISTOF, whilst the southern one, the one with the reconstructed historical building of the brewery, is by David Chisholm and CMC Architects.

You have recently announced that the original plans in the Masaryčka project will be changed. What are they to involve and how will to influence the overall image of the area?

There are certain specific modifications. When we nowadays speak of Masaryčka, we think of two buildings that should be built in Na Florenci Street. There we have a planning permit and have applied for a building permit. This project developed in accordance with various technical observations, possibly in accordance with the results of participation until they got to the stage for which the planning permit applies. A change of outline plan is subject to change in another part of the project and it is impossible to clearly predict as to what it will look like at the end. Moreover, we agreed with the council that a public international urban-architectural tender will be held within the framework of this change and we would like to announce this next January or February. This should lead to a solution for the rear part of the area, which is mostly situated in Prague 8. We will stem from a concept, especially the transportation part, designed by Zaha Hadid. There, I mainly refer to the construction of a square and roads situated on the boundary of Prague 1, 2, 3 and 8, which must reflect the current situation, whether it is about the ownership of the plots – part is owned by ČSAD, which is also building there, or the agreement with the council for a new development according to which there should be at least 40 % of apartments. This will, no doubt, also influence urbanism of the area.

You are also planning to announce the urban-architectural tender for the landscaping of the area between Havlíčkova, V celnici and Na Florenci Streets within the vicinity of a station building.

The aim is to complete this square, or rather the public area, so that it gives a pleasant impression. Many buildings are, however, clearly determined there, whether they are those existing ones, for instance underground exits, or those that need to be built there in accordance with a planning permit. It is be an open tender, which will probably be announced before the end of this year. Anyone interested can enter.

In the past issue of Development News, we published an article by Tomáš Kadeřábek from the Association of Developers regarding development taxation. Do you have a suggestion as to how to allocate the money transparently so that it goes where necessary?

A methodology or recommendation for city districts on how developer’s contribution for development should be calculated is currently being prepared at Prague Council under the lead of architect Hlaváček. The methodology takes into account different aspects, for instance whether it is a location for which the outline plan presumes development or whether the outline plan has to be changed due to development. Deep discussions are held on this topic; individual city districts require different issues from the developers – requirements for square meterage, contribution, allowances for schools and nursery schools, infrastructure and others. Hardly anyone is aware of the fact that huge sums from taxes paid for residential development go towards public budgets. This is, for instance, done through VAT and with the present-day prices, it is basically CZK 1 million from every apartment. City districts also complain that building activities progress in their areas and that they have to invest in infrastructure, etc., but that they don’t get anything directly from development projects. And that is why they want developers to contribute to one thing or another. This arises the question as to whether it would be just to transfer part of the taxes collected back to the budget of the city district – or at least the city – and use these for costs that arise due to development activities. The only income that goes to the budget of a city district from development is currently the property tax, which is quite low in our country. Nevertheless, this is a matter that applies to the budget allocation of taxes, which is beyond the competence of the capital city.

What is the situation in Slovakia from this point of view? Is it similar?

Approximately two years ago, they introduced charges that stem from the overall area of newly built apartments. But that doesn’t solve the funding of infrastructure either. It is basically a new tax.

You have mentioned co-operation with the council. How does it proceed?

I would definitely like to acknowledge and appreciate the positive development at Prague Council with regards to politicians and office workers’ approach to our business. This is mainly evident from co-operation in the area of planning when dealing with individual changes or when organizing urban tenders. It is a transparent process, which leads to a particular result, though it does not eventually need to be positive for us. What is important is that things are developing and are not just stagnating, which is a significant change compared with previous administration. For instance, changes to the outline plan took too long or were not discussed at all. The council’s approach has changed considerably and they represent a respectable partner for discussion. We can only be pleased about that.

AK

Ing. arch. Jana Mastíková graduated, in 2012, from architecture and urbanism at the Faculty of Architecture at VUT in Brno. Since 2014, she has worked in the LOXIA studio where she worked her way up to the post of chief architect.

LOXIA has been in operation for a quarter of a century and their portfolio includes almost two hundred realizations of various types of projects, from family houses, housing blocks and polyfunctional buildings through reconstruction of historical buildings, construction of civic amenities to industrial and public premises.

Why LOXIA?

LOXIA means a curve in Latin. For one thing, it sounds lovely but I also think that it bears a bit of a secret. A curve is something of grace and elegance from a freely drawn line yet it has a mathematical and logical justification. The name represents that which LOXIA tries for: thought-out, functioning yet free and creative architecture.

Can you briefly introduce the studio?

LOXIA comprises architects and engineers. There are 50 of us there. It is a functioning formation of creative and technically skilled people. We don’t only want to design buildings and look at nice visualisations. We primarily want to build. And this cannot be done without technical knowledge, without searching optimal solutions and sometimes without compromise. That means that the architects and engineers at LOXIA are some kind of joined hands that create architecture and construct buildings together.

Isn’t it sometimes a bit lively between the two parties?

I am an architect and the engineer is my partner, sometimes as opponent. We respect our field’s philosophy. Architects can be creative but there must still be some rational basis to it. And that is why we have engineers, in order not to let our imagination run riot, in order not to promise our clients, developers and investors some pipe dream instead of reality. We work for people who keep their feet on ground and who expect the same from us. We can have our heads in the clouds but there must be some connecting line between the clouds and the ground.

You install modern technologies in your projects. However, the economy is eventually what plays the main role. How do you manage to persuade the client which is the right direction?

With regards to the fact that the approval process usually takes between five to ten years in our country, we are already designing for the future. The technologies we now plan in our projects can be obsolete when it is completed. We, therefore, look at it from different points of view: We do have an investor and a client, but then there are people who are actually going to live or work in the building. If the investor wants to build cheaply, the maintenance and consequence upkeep will then be more costly. We are trying to find some balance between the two. Engineers make sure that the construction is optimal from a technical and economic point of view and we, the architects, make sure it fulfils the required function and can still be beautiful. Technology development progresses incredibly quickly. The projects that are nowadays being built were drawn up some 10 years ago when no one, for instance, expected such a boom in the field of electric cars. So, we are trying to retrospectively implement various smart solutions, equipment for the utilization of grey water, photovoltaic and others. The building is alive so we cannot just draw it now and then completely shut it away from new development. There are always new materials, new technologies, new economic conditions to come up with. There are many buildings that we designed as brick ones. However, it eventually needed to be redesigned, for instance from monolithic concrete, due to a lack of qualified labour. The process simply never ends.

With regards to lengthy approval processes, it is impossible to change some projects much, especially within the state and public sectors. Technologies installed there are already past their prime at the time of their final building approval. Isn’t that a shame?

Some projects are luckier than others. We, for instance, have one lucky one – the new town hall for Prague 12 – Modřany. The population of this Prague district is 60,000 people, just like Kladno or mostly where they have interesting town halls. It was an enormous task but it will really be a very lucky and happy building! Prague 12 tendered a design and build project, which prevented lengthy delays. We started working on the project at the end of 2016, now it is under construction and is to be inaugurated in April 2021. It is a miracle, because under Czech conditions, a building has to be built within five years! For me, it represents the symbol of a genuine public building, which is wonderful. Modřany is a very specific city district – on one side, there are villas and family houses and on the other side is a housing development. We were trying to create something that would somehow join the two different worlds together. We have managed to include all the attributes that the building of a town hall should have and act as its symbol. A clock, a tower, a gathering area, a ceremonial hall, an entrance hall across two storeys… We have managed to include all that within a relatively tight budget. The council of Prague 12 decided to build an austere, yet elegant, functional and a sort of monumental building and I think that it is a good thing.

Where do you see the genius?

I say the townhall comes with a tower but it’s actually not there. In the past, town halls had towers because the clocks needed to be visible from all directions. People didn’t wear watches and had to look out from their windows to see the time. We naturally have the clock but it is basically only indicated in a line that is to be lit – and the tower will thus stand out. I like that, putting such niceties into a project…

Can you mention other projects you are working on?

This year, we have achieved final building approval on the Chateau Troja project situated within the immediate vicinity of Troja chateau. The project comprises housing blocks, a mix of reconstruction and newly constructed buildings. It is the top standard housing where a new complex emerged within an area of a former lordly manner. Several buildings from the 17^th century were preserved but were in a disastrous condition after the 2002 floods. LOXIA attended to this project over the long term, since 2007. The project got both planning and building permits and then actually ‘fell asleep’. When I joined the company in 2014, it was revived after the previous crisis. So, I spent a relatively long time with the project in the second half of its life. It is remarkable that someone mustered the courage to put both resources and time into it. And it is the reason why the preserved Baroque sights, where some needed to be completely taken apart and reassembled, are to remain here for future generations. But it would be impossible to only preserve the sights and not build anything new as the new partially finances the revitalization of the old. Another very nice housing project is in Smíchov, in the mouth of the railway bridge by Strakonická Street. The aim is to build a part of the street there. It is extremely interesting. Once again, we are under the scrutiny of conservationists as Smíchov is a protected heritage zone. We are only building one relatively large building there. We decided to analyse Smíchov’s blocks of flats, their proportions, resulting in the dividing of the long building into five. That means that we are actually coming up with five buildings, five different façades. Sort of 5in1 with services within its parterre.

Would you like to mention another project?

Yes, I would. We are preparing a nursery school in Modřany. When I went there for the first time, the plot looked like a jungle. I thought to myself that we should retain it. That it is a mysterious garden… We placed the nursery there in such a way as to retain as much vegetation as possible, so that the building blends well with the jungle. It will be a kind of an ecological nursery, sensitively embedded amongst the trees, with animals grazing on the roof. It will simply be different…

What is it like when you see the building finished as per your project?

Architects come up with something, the engineers build it and someone lives there. We (architects and engineers) will probably be forgotten but people will continue living there – and the building will either keep them happy or annoy them. I myself go to see our projects. I just sit down and watch the people function there. Today, it is also possible to follow it on social network. There are already several thousand people living in Suomi Hloubětín and when you follow their discussions, you understand things. It’s not that I would be going there asking them physically.

Nowadays, architects don’t only deal with just the building but mostly also with comprehensive preparation of the area. Can you see some sort of progress from this point of view?

I think it improved incredibly. I have been involved in architectural studios for 10 years. At that time, they didn’t deal with public areas and we would probably find it difficult to persuade an investor to invest their money into some park as it creates added value. Today, this comes as standard. And that is a good thing because the town needs to be cultivated… We try to do so and I think that we also paid attention to it in the past. Urbanism always needs to be at the start: To decide where to place the structures. The façade and windows can be fixed but if you positioned the building wrongly, one would overshadow the other, an entrance would be put somewhere where no one would ever enter… how would it actually work? It is like opening a baker’s in a place where nobody goes… Poor baker! I find these the functional attributes of a city and public area. What the buildings look like is also important but it is secondary. As we work on relatively large complexes, we always consider the positioning of the building primary as it is invariable. If it is placed badly, it’s wrong.

So, it is not only about ‘designing a building’…

It is necessary to analyse the market and the environment. You must take into consideration whether the building is primarily intended for families with children or whether it is rather to serve workaholics who only come there to spend the night. That is what the concept is then adjusted to: A family with children will appreciate an inner block with playground where everybody meets, children have a trampoline, parents join in the barbeque and the whole place works as a community. But a housing block situated somewhere in the centre, near Anděl within the vicinity of the underground, will be attractive for people who are always on the go. Those won’t have barbeques in the garden. Those will pop over the street to a garden grill. They live in a slightly different way and we often discuss this with the investors. There is a relatively high number of foreign investors in the Prague market. They hire a local architect so that he discloses the local life to them – that is where his added value lies as each nation comes with their own specifics. There is no universal cookbook of a residential project that would work all over the world.

How do you prepare the projects when you want to beat the competition?

Most of what we now design is in BIM, which I consider revolutionary in design, just as it was when we moved from a draft board to computer. The townhall in Modřany, for instance, is in BIM, basically from documentation all the way to the planning permit. We have already been through several projects designed in BIM. It is a very sophisticated method. It allows you to define various details, properties and information so the investor and/or the user knows exactly where everything is to be and what it is to look like. You can’t miss anything in BIM…

You come from Pardubice, studied in Brno and now work in Prague… Can you see certain differences?

I think that, in comparison with Brno, Prague is a metropolis. I studied in Brno because the local school and people who taught there then made a better impression on me. I like functionalism that pervades everything in Brno but I always wanted to work in Prague. I wanted to do that ‘big urbanism’. I like versatility and I am glad that there is no project we would be afraid getting into in LOXIA!

Arnošt Wagner

A new trend in newly-built mountain apartments is emerging. These projects are defined by their high-quality architecture and boutique character.

They are situated in ‚forgotten‘ locations, forming a natural part of their village surroundings and are within walking distance of all the services a client may need. In addition to year-round sports and relaxation opportunities, they also provide their new owners with privacy and real peace of mind, a luxury which is rarely found in popular domestic destinations nowadays. It is these principles on which the Abertamy Platz project is based.

The project is located in Abertamy, a town in the midst of the mystical Ore Mountains (Krušné hory), which were recently listed as a UNESCO site for their uniqueness and rich history. The town is situated at the foot of the Plešivec mountain, with its modern ski area and trail park, and on the ‘Ore Mountains Highway’, an extensive cross-country skiing and cycling trail. On a renovated, picturesque square, stands a corner building, formerly operated as the legendary Uran hotel. The current owner, Residence Abertamy s.r.o., plans an extensive reconstruction here in the spring of next year to restore to the square and to the building their original charm and pride, but in a contemporary fashion. The Abertamy Platz project will offer 17 apartments, from studios to generously-apportioned, terraced duplexes. The amenities will include a sauna, bicycle and ski storage rooms, a lift to the basement, private parking in the courtyard and optional professional management of apartments with above-standard yields of 6–8%. The icing on the cake is the planned restaurant on the ground floor, which the locals are already looking forward to.

PR

How do we perceive this year at Colliers Czech Republic? According to Tewfik Sabongui, Colliers Managing Partner, the start of 2020 was filled with huge expectations, continuing our course in growing our business.

“In February, COVID-19 felt like a distant threat, something we believed was going to be contained in Asia. We were moving ahead with planning our MIPIM event and everything else. Little did we know. Like everyone else, overnight, we had to completely rethink our strategic approach,” explains Tewfik Sabongui and continues: “Colliers Czech was among the very first in our industry who allowed its people to work from home. A model which has always been supported, yet never fully tested, at least not to the required scale. They say, in every crisis, there are opportunities, and we had to tackle them. Instantly, all our teams were fully operational remotely. We conducted global and European surveys. We made it our priority to share the latest responses from all across the globe with clients. The past eight months are still a relatively short period to define clear trends, especially facing the start of the second pandemic wave, but certain things have been redefined, and will stay with us. Many meetings, negotiations and presentations can be done online, but the lack of physical contact is unthinkable. The feedback from a global survey answered by employees confirms the majority of us need to come to an ‘office’. It helps us be more productive, creative and engaged. So, will the office become obsolete, as many predict? Absolutely not! Occupiers may start looking for more flexibility, new solutions of how space is designed. Yet, an office will always be a destination where people come to socialize, work and be productive,” says Tewfik.

Office-single-point

Despite the difficult period, the Office Agency has been co-operating with interesting clients. “One of the new Czech market entrants has been Wrike, initially starting out with a few people. We found an immediate solution by providing flexible space in Business_link. Subsequently, we helped Wrike prepare a long-term plan for its gradual growth in the new building in DOCK IN Four, Prague 8, with a total area of almost 5,000 sq m,” says Petr Žalský, Head of the Office Agency.

With Colliers’ support, the world coffee producer, JDE, relocated from Smíchov to Skanska’s new ultra-modern Parkview building in Pankrác. The multinational pharmacists Alcon chose BB Centrum and its newly reconstructed building B in Prague 4. “For Fortinet, we recently expanded the office space in the Explora building in Nové Butovice area. We also secured modern offices in the Aspira office center for Mercedes-Benz Parts Logistics Eastern Europe. The company is very satisfied with both the new working environment and the location,” says Petr.

“We are especially proud of our work done for Mercedes-Benz,” highlights Lukáš Litera, Director of Building Consultancy, and adds: “The process started with a detailed workplace analysis steered by Colliers workplace advisory. An outcome of this exercise helped our architects design a space fulfilling all the employees’ needs.”

“All the clients above have used all three, or a combination of the related services we provide at Colliers: Design & Build, Project Management and WPA. And it was a pleasure to work with such important companies,” explains Petr.

Changing workplace

“This year, WPA assisted more than 10 clients during the last 12 months with the implementation of new ways of working. We helped companies such as Alcon, SAP, ZF Engineering, Clifford Chance, Edwards Lifesciences, Ferring, Mercedes-Benz Logistics Parts EE or HERO to re-desig their premises,” says Jana Vlková, Head of WPA.

A major long-term project of the WPA team is coming to life this year – UniCredit Bank is implementing its Smart Office at Filadelfie in Prague with Colliers’ complex assistance. This started with an analysis of ways of working, teams’ work requirements, completing with full assistance in change management communication.

Tomáš Drábek, Director of Retail and Private Banking at UniCredit Bank said about the project: “Our new Smart Office at UniCredit is interesting in the way it makes one feel at home.”

Property management

“The fight against a new challenge – the coronavirus pandemic fundamentally affected our activities in terms of financial planning, operational settings and technical measures that had to be applied to individual buildings,” says Matyáš Procházka, REMS, Director of the Property Management Department, and adds: “For this reason, we are very pleased that, despite objectively complicated circumstances, we managed to expand the portfolio of managed buildings by two interesting objects in the centre of Prague – the Albatros on Národní třída and the historic Spálená 21 building. The FID investment group proves that their owner, for whom we have also managed Slovanský dům, its flagship project for the fourth year in a row, is satisfied with our services and is expanding our scope of co-operation.”

Investment market: prediction

The Investment team are especially proud of this year’s Technology Park Brno deal. “We sold a 20,000 sq m manufacturing unit in Most on behalf of local developers to an international buyer,” says Andy Thompson, Head of Investment for CR and SR, and continues: “We also brokered the sale of the 25,700 sq m Grade A City West office building to CMN. Whilst investment volumes have cooled off, a number of off-market transactions are on-going. We anticipate that there may be more sales of distressed assets in 2021 across Europe as some sectors – especially parts of the hospitality and retail sectors – struggle as a result of the impact of Covid and the subsequent reduced demand from consumers.”

Valuation and advisory services

“This year will be another successful year with estimated valuations of approximately 150 properties from the office, I&L, retail and residential sectors, with value over EUR 7.5 billion,” says Vendula Maršová, Head of Valuations.

The team, amongst many other instructions, provides regular valuations for ČS nemovitostní fond, the largest mutual fund in the CR, managed by REICO investiční společnost České spořitelny, a.s. REICO’s sub-portfolio consists
of seven properties across three different countries totaling 166,200 sq m of gross leasable area and value in excess of EUR 500 mil. The team has three senior valuers, with the addition of another RICS qualified member this year.

Industrial & logistics

Colliers I&L team have been working with many end users including manufacturers, e-commerce and developers. The year 2020 has been challenging with massive disruptions in supply chains worldwide.

“We teamed up with a specialized company integrating Building management systems with the clients’ own internal systems. Having full data and power over the whole facility is helping to cut down on power usage, thus implementing savings,” explains Harry Bannatyne, Partner and Head of I&L.

“Our team has worked alongside over 20 clients this year with more deals ongoing throughout 2020. One deal we extremely value is helping Faurecia renegotiate (22,000 sqm) and expand their Czech operations (12,000 sq m) to ensure they received the best terms possible, mitigating risks where necessary. The Faurecia deal cements the great location of Nýřany and the trust of an International player successfully expanding its operations there.”

Informed decisions

In addition to our regular market reports, the Czech and CEE research teams were tracking trends impacting the real estate sector as a result of COVID-19. “So far, this year we carried out numerous online and in person meetings and presentations with clients to help them navigate these challenging times,” says Kevin Turpin, Head of CEE Research.

“This crisis was a good test for Colliers to show what the company and its people are made of, and I’m very proud of what I’ve seen. With expected changes in the pace of transactions and various speculations, we are still heading for another great year ahead of us. We are working with our clients, being supported by a great research team, providing the newest data and analytics to assist them in making the right decisions,” concludes Tewfik Sabongui.

Katarína Karmažinová / photo: Colliers international

Passerinvest Group belongs amongst the largest Czech development companies even though they are – with regards to their main operation in Prague 4 – actually a local developer and investor.

We were talking to Lenka Preslová, Business Manager at Passerinvest Group, a.s., about the supply of offices in Prague and demand for them as well as what the company is planning.

How do you see current supply and demand in Prague 4, which was and still is, attractive to your company?

The Prague 4 location – in our case I speak of the BB Centrum – does not lose its popularity even some years later. It is based on a stable foundation so I am convinced that it will retain this in future. It comes with an excellent availability of civic amenities and access to all services, which has become one of the most important criteria when selecting new offices. With regards to the fact that these things do not come up at once but are developed over the long term, the already established locations will always be an advantage over the newly developed or solitaire projects. New demands for premises are still coming even though we do note some decline due to the COVID-19 pandemic. The often-mentioned scenario regarding reduction of number of premises by companies does not show much yet but some optimization of the size of the premises will no doubt come up. there are also companies who are doing extremely well in these times and are looking at expansion. The currently reduced activity in the market is primarily caused by sitting tight and companies’ cautious approach to making strategic decisions whereby they tend to postpone them till later, once the situation calms down. With regards to supply, we have noted an increase in the volume of premises for lease. Based on the latest data from real estate agencies in Prague, the volume of premises for lease is nearing the 100,000 sq m level. The question is whether this segment will find suitable clients and to what extent it is to represent competition for the classic lease.

Where do you see the added value of the administrative buildings in the BB Centrum?

Administrative buildings in the market are now very comparable with their technical quality and specifications, so it is necessary to look for added value of a different character. With regards to the BB Centrum, it is, no doubt, its versatility of useful functions, a broad scale of services and civic amenities. BB Centrum today represents a fully-
-fledged modern city district, which we want to continue developing and improving. If I was to mention a particular advantage for tenants, it would be its large number and versatility of buildings, which allows us to provide various types of offices – from the smallest starting at 100 sq m in prime buildings to premises of several thousand square metres in modern glazed buildings. As lessor, we become long-term partners for companies and thanks to our portfolio of buildings, we can also respond flexibly and provide tenants with adequate premises, for instance for expansion, or to help them deal with reductions. We are aware of the fact that client’s requirements might change in time – especially in these times when added value no doubt gains on more and more significance.

What type of offices do your clients prefer?

We have all encountered terms such as activity-based workplace or agile workplace. However, the prevailing trend for our clients remains the combination of open and enclosed offices. With the emphases put on communal areas, mostly in the form of a common kitchen and with it associated seating areas intended for non-formal gathering of employees. What has also come to the fore in recent years are shared working places whereby the company establishes a smaller number of working places than the number of employees as they account for the fact that not all employees are continually present in the offices at the same time. And if they are, they can, for instance, use seating areas in relaxation zones. An interesting and more and more popular trend is also the trend of the utilization of mobile and flexible equipment, which can be easily relocated in case the premises need to be reorganized, without the need for reconstruction.

You have recently realized the comprehensive revitalization of the B building, which already has its first tenant. What is evident at first sight is the atrium that is open to the general public. How does it work at the BB Centrum with public areas and offer of services?

Public areas represent an important part of our approach to urban planning, where we develop an area comprehensibly as a whole and don’t only deal with individual buildings separately. That is the only way to create meaningful development projects that bring added value to both people and the city. Working environment does not only mean the area of the office anymore but also its immediate surrounding areas. That might represent an important factor for companies, for instance when gaining new employees. After repurchasing the buildings, working with public areas within the BB Centrum is easier for us and we are also happy for the positive feedback we get from those users who really appreciate the services provided within the complex. The last additions to the complex include the new Ellen G. White Square in front of the B building and the newly created inner block in this building, which is open to the public and complemented with water features, greenery and benches. The comprehensive reconstruction of Želetavská Street and the adjoining pavements and parterres on the ground floor will be completed before the end of the year.

Are you preparing some new projects in Prague next year and in years to come?

Our current project is the Residence Oliva, which is just prior to commencement. It is a prime residential building with 72 apartments situated within the location of the BB Centrum. We are pleased that there is a residential project ahead of us after all the administrative buildings. There is still significant demand for quality housing in the market and the lack of apartments in Prague has been a long-standing topic. I am also glad that we managed to fulfil our vision of the BB Centrum as not only a commercial complex as we also continue developing its other functions. During next year, we are planning the commencement of the development of the project Nové Roztyly, which is situated within the immediate vicinity of the Roztyly underground station and within the neighbourhood of Krčský Forest and which has been planned and anticipated for a long time. This area of an unutilized brownfield has been awaiting its premier for some time now. In future, there will be a new district with excellent transport access and with a broad scale of various functions such as housing, offices, shops, services and other civic amenities, including a nursery school and various sports grounds. After all, we have already managed to cultivate the four-hectare park with natural sports grounds, which now serves the general public. In the summer, we organised free of charge yoga lessons and early-evening runs through Krčský Forest.

What would you now recommend as the best offer from amongst your projects?

I firmly believe that all our projects may be included within the highest category from within a particular segment but the imaginary icing on the cake would be administrative premises, which are available within one of our iconic buildings – in Filadelfie. Since its completion in 2010, it was always nearly fully leased so opportunities for new tenants were limited. It hasn’t lost its exceptionality over the years and still offers exclusive and representative premises. The timeless architecture creates, in connection with amazing views, a unique combination. Moreover, we also decided to carry out an extensive facelift lobby for the main reception, which will now offer a pleasant environment in compliance with the latest design trends, including various types of seating and secluded places for meetings and gatherings.

PR