3.8 million EUR
A masterpiece of the Czech brutalist architecture of 70´ used to be one of few department stores that offered a full range of consumer products during the Communist era in the Czech Republic. Although Kotva enjoys a premium location in the historical centre of Prague, the property, unfortunately, failed to adapt to changes in the Czech retail market and suffered from relatively high vacancy. However, Kotva has definitely got potential that has not been used to the full in the long run, and that will be unfolded by its new owner – Generali Real Estate. The Czech National Heritage Institute has already supported the refurbishment idea.
During Kotva´s selling process Arcadis team assisted Generali Real Estate with Technical Due Diligence, whose aim was to identify the 28,000-sqm property´s current technical status, reveal the defects and estimate costs for their removal.