• Capabilities: Financial Institutions

Albatros

Prague, Czech Republic - The building of the former Albatros publishing house, located in the center of Prague, is changing its owner. Situated on the corner of Národní Třída and Na Perštýně street, Albatross was built in the late 1960s by architects Stanislav France, Luděk Hanf and Jan Nováček. The building experienced his first major renovation in the 1990s and has undergone extensive reconstruction in recent years, completed recently in Q4/2019. Eight floors out of ten were subsequently rented to the Spaces coworking company. Although the building may contain the latest stylish office space in Prague, the place itself is indelibly recorded in history as the scene of the key events of the Velvet Revolution and a symbol of the fall of Communism in Czechoslovakia.

4500 m2

Leasable area

10

Number of aboveground floors

Technical Due Diligence (TDD) and Monitoring of reconstruction works have been carried out for our clients FID, with the intent to buy an existing office building. This TDD project in particular consisted of a review of the actual buildings technical state including a cost estimation of identified defects and designs of their removal.

This particular TDD assignment comprised site review, assessment of its current condition from the various points of view such as architectonical, constructional, static, MEP, fire safety and external façade checking.  All of these were reported including a photo documentation.

All identified defects were assessed as per their seriousness and were being added with a qualified investment costs estimation for their removal. TDD also covered a building review from legal point of view (building conformity with valid construction standards). This is being provided by creating a summary and analyses of the most important issued permits including identification of possible neglects or related risks.

As the next phase after TDD completion the regular monitoring of the refurbishment works has been provided for the several months until the transaction closing in 12/2019.

The Arcadis team was led by Head of Financial Institutions, Jan Podzimek, and by Senior Technical Manager David Urban and other professionals of Arcadis’ expert team. Jan Podzimek and his team advised on technical matters and aspects of the local market during the transaction. Arcadis provided detailed Technical Due Diligence (TDD), regular Construction Monitoring and other related support during the transaction.




 ,,From our point of view, it was a specific project of a partial reconstruction of the former Children's Book House in the center of Prague, where it was especially important to professionally inform the client about the ongoing state of construction work and to present suggestions for an overall improvement of construction quality. We congratulate FID on the successful closing of this exceptional acquisition,´´ notes David Urban, Senior Technical Manager.



Outcomes

4500 m2

Leasable area

10

Number of aboveground floors

2

Number of underground floors

Questions about this project

Ing. Jan Podzimek

Head of Financial Institutions +420 607 170 521 Ask me a question
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