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New open market price benchmark in Czech history set by Pařížská 26 transaction

Jones Lang LaSalle´s Capital Market team represented FIM Group in the sale of the exclusive Pařížská 26 property to Česká Pojištovna a.s. The transaction represents the highest per square metre price ever achieved in the Czech Republic on the open market.

Located on the most prominent street in Prague, Pařížská 26 is an elegant historical building from the turn of the 20th century that carefully combines its historic nature with latest technologies and high quality specifications. The asset offers more than 1,800 sqm of high-standard offices, luxury commercial units and a single penthouse apartment on the top floor. The property is fully leased to tenants such as Banque Privée Edmond de Rothschild Europe, Energetický a průmyslový holding and high profile retailers, Loro Piana and Rimowa. Full renovation of Pařížská 26 was completed in 2010.

Massimiliano Monferini at FIM Group, comments: „Acquiring real estate in Pařížská Street is a dream for many developers and I am glad that we had a chance to leave our signature on one of the architectural gems of Prague’s Secession period. From the very beginning, we have stressed the quality of this project. Since we reached the set goal, we decided that it was the right time to obtain returns from our investment,”

Dušan Šťastník, at Capital Markets at Jones Lang LaSalle, adds: “We are delighted to close this transaction and deliver record pricing for our client. The interest raised proves that investors believe in the continued  performance of the street and its micro location.”

About FIM Group:

The company FIM Group stands at the head of a group of real estate and investment companies operating in the area of real estate for more than 50 years. Besides its home Italy, the company also started operating in Prague in 1998, and in the long term, it focuses on reconstructions and building of luxury residential and commercial projects in the historical centre of the city.