European real estate fund manager Doughty Hanson & Co has sold its Nove Butovice business park in Prague to Czech and Slovak Property Fund BV for EUR 89.5 mln. The site, acquired and developed by Doughty Hanson in 2001, comprises three office buildings with 27,000 m[sup]2[/sup] of space. The site has also been granted construction permit for an additional 7,100 m[sup]2[/sup] office premise. Multi-national tenants of the park include German insurer Allianz, luxury carmaker BMW and computer firm Siemens.
European real estate fund manager Doughty Hanson & Co has sold its Nove Butovice business park in Prague to Czech and Slovak Property Fund BV for EUR 89.5 mln. The site, acquired and developed by Doughty Hanson in 2001, comprises three office buildings with 27,000 m2 of space. The site has also been granted construction permit for an additional 7,100 m2 office premise. Multi-national tenants of the park include German insurer Allianz, luxury carmaker BMW and computer firm Siemens.
Doughty Hanson & Co said it will maintain its presence in the region by retaining a neighbouring plot of land and renewing planning permission for an additional 30,000 m2 office-lead project known as Metronom. 'We were among the first pan-European real estate investors operating in the Czech Republic and we are pleased to have delivered an institutional-quality product that satisfies the demands of leading international tenant, ' Doughty Hanson & Co Real Estate's principal Kevin Grundy said.
