Star Capital Investments acquires Lighthouse Towers in Prague's Holešovice
Star Capital Investments has acquired the grade A office building, Lighthouse Towers, in Prague 7’s thriving Holešovice district. The seller was Deka Immobilien. The property comprises two stand-alone buildings joined at the underground parking level, where 360 parking spaces are provided. The smaller of the two, building B, is four storeys high and offers 6,500 sqm of lettable area, including the property’s canteen and café. The taller of the two, building A, is an impressive 19 storeys high and this landmark, BREEAM certified, office building offers almost 21,000 sqm of lettable area. Situated on the banks of the Vltava, it commands spectacular panoramic views over Prague. The main office tenants in the property include ČD Cargo, Accenture, Pharmaceutical Research Associates, LMC and PharmaSwiss.
Fraser Watson, Director of Investment Advisory at Savills CZ&SK, says: “It was with great pleasure that we worked with our client, Star Capital Investments, to advise them on the purchase of the Lighthouse Towers office building. The property is well positioned in the rapidly growing office market of Holešovice and we are confident that our client can continue to build and develop on the strong management undertaken by Deka in their long ownership period. We would like to take this opportunity to recognise and appreciate the efforts of all professionals involved in making this transaction happen.”
Stuart Jordan, Managing Director of Savills CZ&SR, adds: “Congratulations to Star Capital Investments not just on the acquisition of an excellent asset with value add potential, but on a highly successful 2019 in which we have had the pleasure of undertaking four investment transactions with them.”
Josef Malíř, Executive Director of Star Capital Investments, commets: “We are delighted to have successfully acquired Lighthouse Towers. It represents an excellent opportunity for us to continue in our promise to shareholders and investors to deliver added value, as we further strengthen our real estate investment platform. With some more leasing to be undertaken to reach full occupancy, we welcome the opportunity to continue in dialogue with tenants, as we strive to maintain the strength of covenant existing in the building currently.”