EXCELLENT CONDITION AND UNTAPPED POTENTIAL

“In addition to the excellent technical condition and great location, the building has untapped potential. It can bring above-standard return on investment.”

Marcel Hrošovský, Investment Analyst

Thanks to then untapped potential of the Technopark property on the border of Prague’s Stodůlky and Jinonice districts, we were able to acquire the building under attractive conditions. In September 2021, we sold the property as a stabilized asset to Gemini eye clinic which will convert a part of the building for their purposes while ICP will continue to provide asset management.

„At the time of the acquisition, the building was only about 65 percent occupied after the largest tenant had left. We managed to increase occupancy significantly and even during the COVID pandemic we were able to keep occupancy north of 80 percent. We are currently planning a reconstruction of sanitary facilities as well as other investments to improve the quality of services for our tenants,” describes Marcel Hrošovský.

To the delight of the tenants, ICP has already replaced the local cafeteria operator and installed a charging station for plug-in hybrids and electric cars.

Technopark is a class-A office building with  92,925 sq ft GLA. It was built in 2003 with a capacity of 153 parking spaces both outdoor and in the underground garage. Its technical parameters and consistently low operating costs attest to the well-thought-out design and use of high-quality materials with an emphasis on dilligence and precision. Large, openable windows provide plenty of natural light and offer pleasant views of the surrounding greenery.

The building is located in Pekařská Street in Prague 5, a 7-minute walk from Nové Butovice metro station. In the immediate vicinity, a large number of apartment buildings have sprung up recently, the ground floor spaces of which are perfect for shops and other services ensuring a wide array of amenities in the neighbourhood. At the same time, the nearby Rozvadovská junction provides a speedy connection between the city centre and the D5 motorway, creating an ideal location for companies focused on Germany and West Bohemia.