News

Former ČKD Plant in Prague 9 has a new owner

Former factory building in Prague Vysočany has recently changed the owner. The 10,000sq m property belonging to the Star Group company portfolio has been sold to a Swiss private investor, who plans to renovate the industrial object and to make it a modern building serving for art purposes. During the property sale, the Star Group company was represented by an investment team from the real estate consultancy firm, 108 AGENCY.

The former factory dating from the First Republic is currently a five-floor building with a one-floor underground. The building was long used as a home to the sprawling ČKD iron works. At present, the new property owner plans to completely revitalize the object and start a museum also including a private gallery. Besides other modernisation steps there is also a plan to introduce the new technical elements reflecting higher energy savings and environmental friendliness.

„We are pleased that the property has got an owner whose intention is a complex growth of the place. We also believe the residents in the vicinity of the building will appreciate the interesting museum project as well“, said Ing. Marek Votava from the 108 AGENCY Investment Department. The property is situated in the urban area of Vysočany-Prague 9, in Kolbenova street. All civic facilities as well as metro station Kolbenova (B line) are in a walking distance from the building. The neighborhood is an upcoming area for residential, office and retail developments.

Star Group Ltd. is a joint venture of investors with broad expertise in the international real estate development. Thanks to the combination of the companies' resources, extensive experience and creative thinking of all members, the group has successfully placed itself among the leaders on the real estate market. In the Czech Republic, the Star Group´s development is represented mainly by premium residential projects. It is also a reason why the group decided to sell the property in Prague Vysočany to focus more on a current residential development, which includes among others the successful Nové Chabry scheme.

The new property owner is a private investor of Czech origin living in Switzerland.