TheWrap: Wag the dog

CA Immo sold the 42,300-sqm Kavci Hory Office Park in Prague's Pankrac submarket to Conseq at what it is calling book value. The property company says the move is in line with its strategy to concentrate capital on prime inner-city Class A assets. The property generated €7.7m in annual rental income with 96% occupancy and nearly four years' weighted average unexpired lease term. "With this sale, we take advantage of market liquidity to free up capital for alternative allocation options, and monetize future profits where only limited further value creation exists under our business model," said CEO Keegan Viscius. CBRE acted as commercial advisor, Dentons as legal advisor to CA Immo in this sale process.

Savills carried out the technical due diligence and ESG advisory for REICO EAM in its acquisition of Palladium. The work included EU taxonomy compliance verification, carbon footprint calculation, CRREM analysis and Climate Vulnerability Risk Assessment. The above-standard scope evaluated long-term asset resilience in Prague's city center complex. Palladium's sale is one of 11 major retail transactions to conclude during 2025, adding up to a total of 31% of the overall commercial real estate investment volume, according to Savills. Palladium alone accounts for roughly 20% of this volume. Other significant retail transactions this year include OC Flora, Myslbek, and Máj Národní.

Fidurock expanded its portfolio of Czech retail parks to 14 with the acquisition of Arkáda Prostějov. It paid over CZK 500 million for the property, whose oldest section dates back to 2002. The 11,000-sqm Olomouc region property draws more than one million annual visitors with a mix of 35 tenants—including Lidl, Dr. Max, and Sportisimo. BDCG sold the asset as part of a shift in its core investment strategy.

Prague developers delivered just 26,300 sqm of new office space in 2025—the weakest annual completion volume in a decade. It's little surprise then that vacancy dropped to 6.45% as gross leasing demand reached 429,300 sqm through Q3. That puts it on track for another 500,000+ sqm year, writes Colliers. It adds that net absorption of 224,700 sqm matches 2017's record-setting pace. Two-thirds of the office stock is currently held by domestic capital. Colliers anticipates rapid rental growth ahead, with 244,200 sqm under construction across 17 buildings.

Fidurock expanded its portfolio of Czech retail parks to 14 with the acquisition of Arkáda Prostějov. It paid over CZK 500 million for the property, whose oldest section dates back to 2002. The 11,000-sqm Olomouc region property draws more than one million annual visitors with a mix of 35 tenants—including Lidl, Dr. Max, and Sportisimo. BDCG sold the asset as part of a shift in its core investment strategy.

Prague Deputy Mayor Petr Hlaváček expects the Metropolitan Plan to reach city council approval in spring 2026—the current territorial plan expires in 2028. The new framework incorporates roughly 75% of district-level feedback from 2018 consultations and enables development of 350,000 residential units, including 70,000 municipal apartments, primarily on major brownfield sites. Planning agreements will mandate infrastructure delivery when developers exceed baseline density thresholds.

Star Group secured a building permit for Proxima Chabry—147 apartments that will expand the 12-year-old Nové Chabry development in Prague 8. Designed by Ian Bryan Architects, the project features smaller units (1+kk, 2+kk) with oversized balconies, terraces, or gardens. Thirty percent of the flats sold within the first month, leaving 82 units currently available. The location's value will rise once construction of planned tram lines connect the area to the Ládví and Kobylisy metro stations.

JTRE's River Park extension in Bratislava secured its building permit. It means the developer will be able to add 153 premium Danube-facing residences, 10,000 sqm of sustainable office space and 1,500 sqm of retail across five buildings. Designed by GFI studio to complement Erick van Egeraat's original concept, the development features 733 underground parking spaces and a 2,600-sqm square with nearly 40 mature trees. Sales and construction launch in 2026.

In a move sure to make new friends in a sceptical Czechia, Brussels has mandated that new apartment buildings should make room for at least two bicycle parking spaces per flat. Whatever the size of the unit, mind you. For residential towers exceeding 100 units, that could add hundreds of thousands of crowns to the price tag of each unit. Oddly, pram storage requirements have vanished from regulations...just like Europe's ageing population. "Bicycles instead of cars, single households, absence of facilities for parents with prams—it doesn't sound like a compelling argument for starting a family," says ČKAIT chairman Robert Špalek. He warns that EU member states have until May 29, 2026 to transpose the directive into national law.

Panattoni secured planning for a 46,500-sqm hall at Business Park Ostrov North, putting it on track to complete in March 2027. It's to be occupied by ZF Aftermarket, which already operates out of the location in a 57,400 sqm fall. Panattoni is expanding the hall for the investor Accolade, the project calls for fossil-fuel-free heating via heat pumps, expanded EV charging and 98.7% construction waste recycling. This brownfield transformation represents one of Czech Republic's largest industrial site rehabilitations.

ČEZ ESCO and CTP commissioned 5.5 MW of rooftop solar across CTPark Brno and CTPark Brno South—South Moravia's largest installation spanning 86,000 sqm generating 5.2 GWh annually. That's how much 1,500 households would consume. The 3-MWp Blučina facility for Inventec represents the region's largest rooftop corporate system producing 2.8 GWh, while Černovické terasy installations serve Wistron, Honeywell and Hitachi with 2.3 GWh output. The partnership expands CTP's portfolio to nine ČEZ ESCO solar projects totaling 12.3 MW across Czech Republic.