Penta has leased more than 75 percent of Aviatica, the first office building in the developer’s Waltrovka project, underway near the Jinonice metro station in Prague 5. Penta said it expects that only 17 percent of the 27,000 sqm building will still be vacant by the end of the year. Oracle will occupy 10,000 sqm at Aviatica. Sberbank has also signed on, as has Schneider Electric, AstraZeneca and AB Facility. The fast pace of leasing allowed Penta to expedite construction of the project’s other two office buildings, Mechanica and Dynamica, which will add an additional 51,000 sqm to the location.
A square with shops and services will be part of the project’s residential component, while a refurbished historical industrial building preserved from the original Walter air engines manufacturing plant may host a school or a healthcare facility. The first apartment buildings are scheduled for completion in fall 2016. The overall investment into the redevelopment of the vast brownfield Penta acquired from Irish Red Group is expected to hit CZK 5bn.
