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| Orco Property acquires BesNet Center in Prague Orco Property Group, a leading investor, developer and asset manager in the Central European real estate and hospitality market, announced the successful acquisition of BesNet Center – two Class B office buildings in Prague 4. The property was purchased from SFK Wing Investments Limited for the company's Endurance Fund Office Sub-fund. The total investment is app. EUR 20 million. The property represents partially refurbished Class B multi-functional office buildings comprising six office and storage buildings extending to 18,439 sqm of lettable area and has the sufficient car parking provision of almost 280 spaces. It is divided into 2 buildings - Alfa and Delta, additional storage and Class C office space is provided through 4 single level buildings. Located in a peripheral outer city office location in Prague 4, approximately 8 km to the city centre, it gives a great opportunity for future tenants providing direct access to the western and eastern districts of the city and the D1 highway to Brno and Vienna. Moreover, there is a metro extension planned in this area. The building was constructed in the 1950's with successive extensions over the last 30 years. The primary office building underwent a refurbishment during 1998 – 1999 while its inner equipment has been significantly upgraded during 2000 – 2006. The occupancy of the premises is already 90%. write your comments about the article :: © 2007 Construction News :: home page |