CA Immo starts construction of two premium office buildings in Prague top location
• Mississippi House and Missouri Park to complete River City Prague office complex in the Prague Karlín district
• Both Class-A-office buildings will offer a total of 20,750 m2 of leasable space; CA Immo is investing around € 66 m total investment volume
• The construction has started in September, with expected completion in the 1st half of 2021
• The buildings will meet highest sustainability standards (LEED platinum) as well as offer tenant health and wellbeing features
• Expansion of the nearly fully occupied CA Immo portfolio (occupancy of more than 95%)
CA Immo has begun the construction of two premium office properties in the River City Prague complex, which is located in the sought-after Prague Karlín district. Mississippi House and Missouri Park will complete the attractive office complex, which currently includes three high-quality Class-A- office buildings (Amazon Court, Nile House and Danube House). Both of the new buildings were designed by Danish architectural studio Schmidt Hammer Lassen and will pursue the high architectural standard of the ensemble. The erection will follow highest sustainability standards (LEED platinum); Mississippi House and Missouri Park will offer a total of 20,750 m2 of leasable space (Mississippi House 13,380 m2 and Missouri Park 7,370 m2). The construction has already begun and is scheduled for completion in the 1st half of 2021. CA Immo will be investing a total of around € 66 m.
Andreas Quint, CEO of CA Immo: "The River City Prague is located close to the city center in the sought-after Karlin district of Prague directly on the Vltava River, an absolute top location. We are delighted that construction can now go ahead on our two plots on the banks of the river and thus complete this high-quality office ensemble. In view of the very high occupancy rate of our Prague property portfolio, the strong demand for office space and the correspondingly dynamic price development at the location, this proprietary development is an important strategic addition to our portfolio in the core market Prague. The demand for the new space is already extremely brisk shortly after the start of construction; in future we will be able to offer space upgrades to both new tenants and existing tenants with expansion plans."
Mississippi and Missouri will each have eight floors and two underground parking levels (a total of 230 parking spaces). Bicycle parking spaces and showers are also planned. Among other things, the architectural concept includes landscaped terrace loggias, light-flooded, flexibly usable office space and representative entrance areas. The high energy efficiency of the buildings is ensured inter alia by intelligent lighting and temperature control, CO2 monitoring, waste recycling, rainwater harvesting and heat pumps. The quality of the location is also exceptional: the direct location on the Vltava River with a view of Prague Castle, surrounded by green spaces and a quiet pedestrian zone, make the location unique. Restaurants and cafés as well as a good connection to the bicycle network (bicycle and footpath on the river bank) further increase the attractiveness. The Karlin district of Prague is a dynamically growing, established business district with very good infrastructure and connectivity.
CA Immo Czech Republic
The Czech asset portfolio of CA Immo consists of five office buildings in Prague, including the River City Prague properties Danube House, Amazon Court and Nile House, Kavčí Hory Office Park as well as the recently acquired Visionary office building. The book value of the Czech investment portfolio is approx. € 361 m (around 8% of total CA Immo portfolio by book value); the properties are nearly fully let (95.3% occupancy rate as at 30 June 2019). All CA Immo office buildings in Prague have been awarded LEED or DGNB sustainability certification.
Images of Mississippi House and Missouri Park can be downloaded here.