PPF strengthens Prague office holdings with Telehouse acquisition

PPF Real Estate has agreed to acquire the Telehouse office complex in Prague’s Dejvice district, adding more than 21,000 sqm of leasable space to its property holdings in the Czech capital. The asset is being purchased from an investor group that includes BPD Development and Engine Prague Development, linked to Radek Pokorný.

Completed in 2019, Telehouse has maintained a high occupancy level and accommodates businesses from several sectors, including technology, telecommunications, healthcare and pharmaceuticals. The diversified occupier base provides PPF with an established income-producing asset rather than additional development exposure.

The property is situated in Prague 6, close to PPF Group’s headquarters and PPF Real Estate’s offices. Dejvice is an established business and residential area with strong public transport connections and relatively convenient access to Václav Havel Airport, factors that have supported office demand in this part of the city.

PPF Real Estate chairman Robert Ševela said the acquisition fits the company’s strategy of targeting established commercial properties in European locations where it sees potential for long-term value creation. The proximity to the group’s existing Prague operations also gives Telehouse particular strategic relevance within its local portfolio.

The transaction comes as investment demand in European office markets remains increasingly concentrated on modern, well-leased properties in established locations. Buildings with stable occupiers and limited immediate capital expenditure requirements are generally better positioned to attract institutional capital than older offices facing substantial refurbishment or energy-performance upgrades.

Financial terms have not been disclosed. The acquisition has yet to complete and remains conditional on the required regulatory clearances and customary transaction conditions.