Record Year At Cushman & Wakefield

16 Jan, 2007, Prague

Cushman & Wakefield Prague has registered a record year in 2006, with an annual turnover increase of 35%. Its staffing level has also increased: by almost one-third from 61 in December 2005 to 82 at the end of 2006.

The firm was also honoured as the Best Real Estate Agency of the Year 2006 in the Czech Republic, held annually by the prestigious Central and Eastern European real estate magazine, CiJ.

Cushman & Wakefield provides advice across spectrum of real estate services, including investment, valuation, agency, property management and market research. It is the leading service provider in the Central and Eastern European region.

Team highlights:

The industrial team traded 1.1 million square metres of land for commercial use and successfully completed 47 transactions last year. For example, they purchased 300,000 sqm of land on behalf of developer Prologis and leased 15,000 sqm of expansion space for a Globus central storage in P.D.C. Jirny .

The office team transacted over 40,000 sqm of office space and represented 17 occupiers during 2006. Over 5,000 sq m of modern office space was let in Nile House which was declared the best office development project in the Best of Realty and CiJ Awards competitions in 2005. An important transaction in 2006 was also the extension of the lease of 7,500 sq m on behalf of PriceWaterhouseCoopers at its offices in Praha 2.

The retail team is one of the most experienced teams on the Czech market. It was involved in leasing three out of the five shopping centres opened over the last twelve months – NovoPlaza in Praha 4, Prior Ostrava, and the third stage of the Letňany Shopping Centre.

The C&W team has contributed significantly to the enhancement of shopping zones in the centres of Prague and Brno; for 2006, notable examples include the opening of Zara and Reserve outlets in Brno.

The Capital Markets Group experienced significant growth in the number of transactions concluded during 2006. This included deals in all of the major commercial sectors (offices, shopping centres, retail warehousing and industrial schemes), for example, Hadovka Office Park, Budejovicka alej, Retail Warehouse Park Hana and Sanitas Ricany. In total, the team advised on transactions in excess of EUR 330 million throughout the year.

The property management section received eight new projects for management in 2006, including a portfolio of GE buildings in Slovakia.

Market research experts worked on 17 projects involving work in the Czech Republic and other European countries.

Last year the company also established a residential properties section focused on the sale of large-scale residential projects, land sales and acquisitions, and development consultancy.

“The Czech property market is aligned with the strong business climate and Cushman & Wakefield is delighted to be continuing its strong links with its core clients, as well as developing new business relationships,” says Jonathan Hallett, Partner and Managing Director at C&W in Prague.

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