Penta Real Estate has sold the Rezidence Dvorce project in Prague 4, which includes 60 flats, to Velska Holding. The reason, according to Penta, is that it is preparing for large-scale development projects in the capital around Florence, the main railway station, the former freight station Žižkov and Vítězné náměstí and is optimising its portfolio with the sale. Penta did not specify the price of the transaction. Earlier this month, Penta announced the sale of coworking offices in Prague 2 to Scott.Weber Workspace with a similar rationale.
The Rezidence Dvorce project includes 60 flats and retail space, situated on a nearly 5,500 sqm plot of land below the slope of Kavčí hory in a residential development on the corner of Dvorecká and Pod Pekařkou streets. “We are selling only to have enough capacity for our key projects,” said Penta Real Estate’s residential sales director David Musil.
Velska Holding has so far focused on construction in the nearby Pankrác area, and recently acquired a plot of land with real estate near the future Olbrachtova metro station at auction. “With its location, size and style, the Dvorce project fits perfectly into our holding’s concept of focusing primarily on high-end projects. We have successfully developed the Tetris Office Building, Pankrác Prime and 4U Living in Prague 4,” said Oleg Čeremisin, owner of Velska Holding.
Penta announced the sale of the BASE co-working centre in Prague 2 to Scott.Weber Workspace, a company that operates flexible offices, co-working and event spaces, on 4 December. The building near Prague’s main railway station has 2,200 sqm of space, up to eight meeting rooms of various sizes, 25 offices, a training room and a community zone for up to 100 people. At any one time, 300 people can work in the space. The companies did not want to comment on the price of the transaction, but according to a CTK source it did not exceed CZK 100 million.
Penta Real Estate plans to continue building a new district around its newly opened Masarycka office building, which took more than two and a half years to build and cost CZK 2.5 billion. At the end of October, Penta bought ČSAD Praha Holding, which owns the Florenc bus station and adjacent land. In mid-November, it bought the long-unused land in Florenc, in the vicinity of the Prague main line, from ČD for almost CZK 244 million. However, the amount may still increase depending on the outcome of the zoning plan change currently under discussion.
Penta Real Estate is also preparing the construction of the so-called fourth quadrant on Vítězné náměstí in Prague’s Dejvice district, which will fill the last undeveloped quarter of the area. The building should contain commercial space and apartments. The company is also planning the Mocca residential project in Prague’s Vysočany district.
Source: Penta Real Estate and CTK
