Central Group further strengthened its presence in the popular residential district Prague 3-Žižkov through the acquisition of two office buildings on a 8,000 sqm site along Olšanská street. Pražská správa nemovitostí (PSN) sold the asset for an undisclosed price. The two existing office buildings with 15,000 sqm of class B space boost Central Group’s portfolio to 140,000 sqm of office, warehouse and production space in several locations around Prague. The acquisition is in line with the developer’s strategy to expand its portfolio of office and warehouse properties, which it plans to operate and lease before redeveloping into residential. This is the developer’s second acquisition along Olšanská street this year. In March, it bought the Cetin headquarters from PPF. The new site is across the street from Central Group’s Residence Garden Towers, next to Parukářka park.
