WorkLounge has completed the acquisition of the City Point office building in Pankrac, Prague 4. It is taking over the building from the investment company Amundi Czech Republic, which previously owned the building. Mint Investments Group was the investment advisor to Amundi. Representatives of Savills, Cushman & Wakefield, and Havel & Partners also participated in the transaction. The value of the transaction is c. €18.6m.
The newly acquired City Point location offers a wide range of benefits, including an impressive 8,750m2 of space, with 500m2 dedicated to coworking. The office space is classified as Category A. They also offer 120 parking spaces and modern amenities such as a fitness centre and retail space with excellent transport links and a wide range of shops and services nearby.
WorkLounge has already laid out plans for the coming weeks to months to strengthen connections and benefits for existing and new members in the new shared space. These include the addition of smaller offices, relaxation zones, comprehensive services, a friendly and inspiring atmosphere, and all the other benefits of serviced offices.
Lubomír Silhavy, CEO of WorkLounge, said: "This acquisition represents the latest addition to our private real estate portfolio and will soon become the new home of our sixth branch of WorkLounge, a family-owned chain of serviced office and co-working spaces based in Prague. Our goal is to create a cutting-edge, modern and sustainable office environment for our clients within WorkLounge and beyond."
Stuart Jordan, CEO Savills Central and Eastern Europe, which represented WorkLounge in this acquisition, added: “The addition of City Point to the portfolio secures further coworking options for WorkLonge clients in the important business submarket of Pankrác. The depth of corporate and private occupiers in the immediate surroundings are testament to the continuing popularity of the submarket, whilst the addition of WorkLounge to the existing amenity base in City Point will be an attractive option for existing and new clientele.”