Skanska sells office building in Prague, Czech Republic, for EUR 50M, about SEK 480M
Skanska has sold the office building Five in Prague, Czech Republic, to a real estate fund managed by TRIUVA Kapitalverwaltungsgesellschaft for EUR 50M, about SEK 480M. The transaction will be recorded by Skanska Commercial Development Europe in the second quarter 2017, with the transfer of the property scheduled for the fourth quarter 2017.
Five, which offers a total leasable area of 14,400 square meters, was commissioned for use in April 2017 and is already 100 percent leased.
The office building is located near Anděl, one of the busiest and most desirable office and retail destinations in Prague 5, in close vicinity to Riverview – one of Skanska’s former office developments in the city.
Five enjoys superb public transport connectivity thanks to its proximity to both, Anděl’s metro and tram junction and Smichov Railway Station. Being situated towards the Vltava River, the property brings unique views of the historical city center, Prague Castle and Vyšehrad Fortress. Five is equipped with numerous green solutions and is expected to receive LEED Platinum certification.
Skanska is one of the leading developers and construction companies in Europe. Outside the Nordics, the company has its European operations in building construction and civil engineering located in Poland, the Czech Republic, Slovakia and the UK. Skanska develops commercial properties in select local markets in Poland, the Czech Republic, Romania and Hungary, and residential developments in Prague and Warsaw. Skanska also offers services in public private partnerships. In 2016, Skanska had sales of SEK 36 billion and about 16,500 employees in its European operations.