Savills News

Savills closes sale of Green Tower, Prague

Savills has advised on the sale of Green Tower, an office asset located in Prague, to a Czech private investor, for an undisclosed price.

Green Tower, originally developed by VGP, is an office asset comprising ca. 3,600 sq m of office and retail premises. It is located in the vicinity of two metro stations in a large residential area of Lužiny and Stodůlky. Green Tower enjoys full occupation, accommodating tenants such as Mountfield, ABRA and MK Keramika.

“This was an excellent transaction for both parties and for the purchaser to acquire a fully leased commercial asset that has benefitted from persistent tenant demand. The sale is reflective of core-plus opportunities increasingly being sought by private investors, attracted by secure income streams, future rental growth and properly managed assets within strengthening Prague districts,” says Vojtěch Wolf, Investment Analyst, Savills Czech Republic.

Savills investment department in the Czech and Slovak Republics was established in autumn 2017 under Stuart Jordan’s leadership. In just over a year, the advisory firm has cemented a leading place on the investment advisory scene, focusing on detailed, valued added transaction management to both private and corporate clients.

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