The challenge
Arcadis tasked with technical due diligence of a prime office building in Prague.
The solution
360° analysis of new administrative complex from all technical aspects.
The Impact
The Czech investor acquired building in a very good technical state without any major investments required in a few years to come.
16,200 m²
Total area
2 billion CZK
The amount of the transaction
225
Parking spaces
The challenge
Blox office building, designed by DAM Architekti, Prague based architectural studio and completed in 2015, was a subject of off-market transaction in 2019. The 16,200-sqm Blox located in Dejvická street in Prague 6 is occupied by two blue-chip tenants Amazon and CertiCon. In the transaction, Arcadis was representing the investor providing him with technical due diligence of the BREEAM Outstanding certified property.
Besides A-class office space, Blox has been offering A-class retail premises as well. The building has got seven personal lifts, openable windows, independent air-conditioning and external shutter control. Thanks to untypically narrow high windows complemented by embossed dark grey cladding, the façade creates an impression of being covered by a bar code. Blox´s interior meets all requirements for modern offices according to international standards.
The solution
Technical due diligence (TDD) done for the future buyer of the property comprised of site review, assessment of various aspects of current condition such as architectonical, constructional, static, MEP, fire safety and external façade check. All identified shortcomings were rated per their seriousness and estimated in terms of investment cost for their fix or removal. TDD also included a building review from legal perspective, meaning conformity with valid construction standards.
Arcadis appreciates another successful acquisition with CMN, documenting a long-term open relationship based on mutual trust and given by many previous completed projects.
The impact
Czech real estate holding Českomoravská Nemovitostní (ČMN) acquired Blox in September 2019. In cooperation with Arcadis, ČMN had also bought Crystal office building in Prague 3 and property in Wenceslas Square No. 62 in Prague 1 before. Three transactions in a row document long-term business relationship based on mutual trust and quality services delivered in all projects.
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