German developer Hochtief said that construction work is starting on the Trianon complex in Prague's fourth district in the second quarter of 2007, as final planning permission has now been granted. The office complex was previously sold to Hamburg-based Union Investment Real Estate, which also owns a 49% stake in Hochtief's Technopark Pekarska project, as well as a 49% stake in Danube House in Prague.
German developer Hochtief said that construction work is starting on the Trianon complex in Prague's fourth district in the second quarter of 2007, as final planning permission has now been granted. The office complex was previously sold to Hamburg-based Union Investment Real Estate, which also owns a 49% stake in Hochtief's Technopark Pekarska project, as well as a 49% stake in Danube House in Prague.
The office/retail complex, which will have a gross floor area of approximately 23,000 m2, will be completed by December 2008. 'Prague 4 is one of the key office markets in the Czech capital. At 3% it has the lowest vacancy rate of the city's four main submarkets, so success for Trianon is assured,' said board member Frank Billand. The upper storeys, comprising 18,500 m2, are for office use, while the ground floor will feature retail outlets and a restaurant. There will also be underground parking for 298 cars plus eight spaces for visitors.
