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Czech Republic Emulates Western Europe Property Trends

News Posted On: 16 May 2014

Czech Republic property news

The real-estate market in the Czech Republic is housing modern commercial spaces and small-sized warehouses as well as mining property constructions in Western Europe. Western European countries have popularized the concept of developing commercial centres that are easily accessible to locals and well placed in the heart of the city. The accessibility is beneficial not only to employees and business partners,but also to business-to-customer groups. These developmental trends have recently grown prevalent in the Czech Republic.

Czech commercial property - Western European styled office spaces

The Industrial Agency Chief of CBRE, Filip Kozak says that many Western European countries have been building compact commercial properties in well-connected areas for years now, but the demand for such properties has surfaced in the Czech Republic only recently. Trim office spaces which are easily accessible and well-connected are gathering a lot of demand and many such companies that are closely located create a synergy for business, he explains. CBRE has also been promoting the new-age commercial space offering projects that provide a platform for business activities, office space and showroom under a single roof.

In Western European countries, the concept of building such commercial spaces has been predominantly seen in small or medium-sized businesses. These generally trade automobile accessories, cars, furniture, bathroom fixtures, ceramics, and technological equipments. The flexibility of the layout gives these businesses the indulgence to use the warehouse space as a showroom to sell their products.

Construction goes underway in Letnany business hub

Cestlice has shown the development of projects on the sames lines as some of the Western European countries, although the transit accessibility to the locality near the D1 highway has negatively impacted the project. On the other hand, Letnany proves to be a viable location for commercial spaces with good accessibility. The location is well connected with the D8 highway, Prague Ring, D11 and D10, and the Letnany Metro transit. The Letnany business park can cater to a large employment pool. It is also closely placed to residential spaces. There are about 1500 newly developed apartments that are situated just across the park, while the construction of another 2,000 apartments is in the pipeline.

The business hub in Letnany has already begun to garner the attention of many interested parties. All in all the business park houses five commercial buildings. The letting space is nearly 26,000 square meters wide. The space will be rented out in units in the range 150 square meters-1500 square meters. The development of the Letnany business hub started with a 2,800 square meter building. The building will soon be constructed completely and is expected to be open by autumn, 2014.

The next building constructions are expected to begin by this year's end. A few mentionable business that are seeking to rent out a space in the Letnany business hub include one of the leading automatic glass repair service providers in the Czech Republic, a local paint vendor, a German manufacturer of health products and many others.

Written by Les Calvert of www.property-abroad.com - overseas property reporter

 

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