ICP Capital Partners is pleased to announce the successful acquisition of the Technopark real estate in Prague 5 at the border of Stodůlky and Jinonice. The exact acquisition price was not disclosed, but it is estimated at just over 10 million euros.

Type: Area: Acquisition:
Office 8,600 m2 May 2018

ICP Capital Partners identified the opportunity to acquire real estate under attractive conditions due to its unused potential. The building, after departure of the largest tenant, had a lower occupancy rate (about 65%) for the last two years. The objective of ICP is to achieve maximum occupancy through active asset management and targeted marketing – in particular by changing the strategy of focusing on small and medium-sized Czech companies that are expanding and looking for high-quality offices with good accessibility at an attractive price.

Technopark is an A class administrative building of 8.633 square meters. It was built in 2003 with a sufficient capacity of 153 parking spaces both outdoor and in the underground garage. Its technical parameters and stable low operating costs confirm the sophisticated design and use of high quality materials with great emphasis on the high quality of the work done. Large opening windows provide plenty of light, user comfort and offer very nice views of the surrounding greenery.

The building is located on the street Pekařská, 7 minutes walk from the metro station Nové Butovice in Prague 5. During the last few years a large number of apartment buildings have been built in  the area, which represent potential for possible conversion of a part of the ground floor to civic amenities / retail.

At the same time, the building is located near Rozvadovská spojka – the connector to D5 motorway. Its location is therefore an ideal location for headquarters or branch offices with a focus on Germany and Western Bohemia.

Marek Klaus, a partner at ICP Capital Partners, says: “The under-average occupancy of office space, the unused ground floor potential and the excellent technical condition of the building offer a lucrative opportunity with the potential for premium income realized through active asset management.”