Prague 10 secures future of Mountain Hotel Ten on Černá hora

The City District of Prague 10 has taken steps to resolve the future of the Mountain Hotel Ten on Černá hora near Jánské Lázně, a facility that has long faced financial challenges and operational difficulties. Through its joint-stock company PRAHA 10 – Májetková, a. s., the district has arranged for the hotel to be leased to the sports club SK Slavia Praha, aiming to ensure continued use of the property while alleviating its economic burden.

The new lease agreement will run from 1 September 2025 to 31 May 2027, with SK Slavia Praha paying an annual rent of CZK 2 million excluding VAT. This arrangement marks a financial turnaround for the city district, which previously incurred significant losses from the hotel’s operation each year due to high running costs and declining technical conditions.

Earlier efforts to lease the property included a tender launched in August 2024, offering a minimum annual rent of CZK 1.99 million excluding VAT, which attracted no bids. Subsequent discussions led to an agreement with SK Slavia Praha, which committed to operating the hotel under commercially viable conditions.

Martin Valovič, Mayor of Prague 10, described the Mountain Hotel as a legacy property with historical value but noted its longstanding status as an economic burden. He expressed satisfaction with the new agreement, emphasizing that the facility remains accessible to local children and senior residents, who will continue to benefit from stays under the same financial and organisational terms as before.

The hotel, situated at a considerable distance from Prague, requires specialized operational expertise and significant upkeep. Under the new lease, SK Slavia Praha intends to invest around CZK 1 million into upgrading the building’s equipment and facilities to improve visitor comfort.

Jiří Vrba, Chairman of the Board of SK Slavia Praha, said that managing the Mountain Hotel offers an opportunity to expand the club’s activities for both members and the broader public. He highlighted existing collaborations with Prague 10 in areas such as senior sports and children’s camps and welcomed the chance to build on these partnerships through the new project.

Both Prague 10 and SK Slavia Praha indicated that further discussions are planned to explore the hotel’s long-term future. Their shared objective is to maintain public access to the Mountain Hotel for sports events, school trips, and recreational stays for seniors, while securing investments necessary for essential repairs and upgrades to the property.

Source: Prague 10

Garpa signs lease for logistics property in Lüneburg under construction

Garden furniture manufacturer Garpa will relocate its operations to a new logistics property being developed by Garbe Industrial in Lüneburg, Lower Saxony. The lease agreement was finalised while the facility is still under construction, just weeks after the topping-out ceremony.

Garpa, based in Escheburg near Hamburg, has leased the entire property, which offers approximately 20,200 square metres of space. The company plans to use the facility for storage, assembly, and repair of garden furniture. The lease is set to commence on 1 October 2025.

Maik Zeranski, Member of the Executive Board at Garbe Industrial, noted that securing a full lease during the construction phase reflects the quality of the project and the suitability of the chosen location. The investment volume for the property is around EUR 27 million.

The new logistics building is situated on a 33,000 square metre site in the Gewerbepark Ost, close to Lüneburg harbour and the Elbe canal. Garpa’s lease includes nearly 17,400 square metres of hall space, approximately 2,200 square metres of warehouse space, and about 600 square metres designated for offices. The facility will feature a narrow-aisle racking system, 17 dock levellers, and two ground-level sectional doors to support loading and unloading operations. Additionally, the site will provide parking for 55 cars and five trucks.

Maik Zeranski expressed confidence in Garpa as a tenant, noting that the company’s high-quality garden furniture aligns well with the nature of the property. Garpa, which has been in business for over 45 years, specialises in manufacturing and selling premium chairs, tables, loungers, and other outdoor furniture, produced in selected factories. The products will be stored and assembled at the Lüneburg site before being distributed to customers in Germany and neighbouring countries.

The location offers good transport connectivity via the B216 and B209 roads, linking Lüneburg to the A39 motorway and further connecting to Hamburg and other key routes along the A1 and A7 motorways. Garpa Managing Director Hauke Petersen stated that the company was attracted by both the strategic location and the high quality of the new facility, which meets the requirements for the firm’s anticipated growth. The move will see Garpa transferring its warehouse operations from Geesthacht to Lüneburg.

Sustainability features prominently in the design of the new logistics property. Plans include installing a rooftop photovoltaic system with a peak output of around 1.7 megawatts to generate renewable energy. Heating will be provided by air-source heat pumps instead of fossil fuels. Garbe Industrial aims to achieve certification for the building under the Gold Standard of the German Sustainable Building Council.

Panattoni expands into data centre development with senior appointments

Panattoni has announced the establishment of a new data centre development initiative spanning Europe, the UK, India, and the Middle East. The move includes the formation of a dedicated data centres team and the appointment of four experienced professionals to senior roles.

The new team will be led by Richard Wellbrock, who has been named Managing Director, Data Centres. Wellbrock has more than 25 years of real estate experience, including nearly two decades focused on data centre development. Previously, he served as Chief Commercial Officer at Colt Data Centre Services (DCS), where he was involved in delivering large-scale data centre campuses across Europe and Asia and contributed to the company’s growth from 100 megawatts to 1 gigawatt of capacity. His tenure included participation in a $1.5 billion joint venture with Mitsui.

Joining Wellbrock are Nick Parker as Head of Capital Deployment, John Belton as Head of Development, and Paul Terry as Infrastructure Director for the data centres business.

Nick Parker was formerly Global Senior Director of Asset Management at Colt DCS, overseeing more than €5 billion in capital deployment strategies and supporting transactions involving approximately 250 megawatts of capacity. He was also involved in structuring joint ventures and investment strategies in regions including India, Japan, and Europe.

John Belton, who brings around 40 years of experience in engineering and data centre development, previously served as Global Senior Director of Development at Colt DCS, managing a global development portfolio with a pipeline capable of delivering over 1 gigawatt of IT load.

Paul Terry, who held the role of Global Director of Development Infrastructure at Colt DCS, was responsible for overseeing infrastructure design and delivery, including utility and technology programs, from land acquisition through to project completion.

All four executives will be based in London and report to Robert Dobrzycki, CEO and co-owner of Panattoni Europe, UK, Middle East, and India.

Robert Dobrzycki commented that the company’s move into data centres represents an important step, noting the role of data centres as critical infrastructure for modern economies. He highlighted the extensive experience that the new team brings to Panattoni’s operations.

Richard Wellbrock said that Panattoni’s experience in large-scale development provides a strong foundation for the new data centre initiative. He expressed plans to expand the business across Europe, the UK, India, and the Middle East, with a focus on serving hyperscale operators, cloud providers, and enterprise customers.

Panattoni’s entry into the data centre sector builds on its experience in delivering over 23 million square metres of industrial and logistics space across Europe.

Sonar Real Estate takes over management of Düsseldorf office portfolio

Sonar Real Estate has taken over commercial property management responsibilities for three office buildings in Düsseldorf’s Medienhafen district. The properties, known as ALTO, LARGO, and FLOAT, collectively offer more than 88,000 square metres of rental space and are part of CPI Europe AG’s portfolio. These buildings were completed between 2018 and 2021.

ALTO, located at Kesselstrasse 3, comprises approximately 36,050 square metres of space, while LARGO at Kesselstrasse 5-7 provides around 21,700 square metres. FLOAT, situated at Kesselstrasse 1, offers about 30,350 square metres.

Sonar has managed lease operations for these properties since October 2022. The new mandate expands Sonar’s role to include commercial property management, covering lease administration, financial reporting, budget planning, and coordination of external service providers. Diemer GmbH Baumanagement continues to handle the technical property management aspects for the three buildings.

All three properties have achieved LEED Gold certification and feature modern technology, high ESG standards, and amenities such as fitness facilities, dining options, a welcome desk, and 24/7 security services.

Nick Puschkasch, Managing Partner at Sonar Real Estate, stated that the expanded mandate reflects the company’s approach to integrated management services and strengthens its presence in large institutional property mandates. He noted that Düsseldorf’s Medienhafen provides a favourable setting for premium office properties due to its urban environment, infrastructure, and a tenant base focused on sustainable industries.

Julian Kaup, Managing Director at Sonar, added that the company offers a range of asset management, property management, and development services, enabling clients to tailor solutions for their properties. He expressed satisfaction that the original lease management contract has grown into a broader property management engagement.

The ALTO and LARGO buildings, designed by slapa oberholz pszczulny | architekten, include a 16-storey tower and a six-storey structure, both located along the Rhine and built with flexible layouts accommodating various office concepts and event spaces. FLOAT, designed by architect Renzo Piano, consists of six interconnected building sections and adds a significant architectural element to the area.

Catella acquires two residential properties in Hanover for over EUR 50 million

Catella Investment Management GmbH (CIM), based in Berlin, has announced the acquisition of two newly completed residential buildings in Hanover, Germany. The transaction was conducted on behalf of an individual mandate and in cooperation with Catella Real Estate AG (CREAG), acting as the KVG platform for the Catella European Residential (CER) fund. CER, advised by CIM, currently holds real estate assets valued at approximately EUR 1.385 billion. The properties were acquired from PHI Kronsrode Grundstücks GmbH for a total price exceeding EUR 50 million.

The two buildings, situated in the Kronsrode development area of Hanover, comprise 154 residential units, including 102 privately financed apartments and 52 subsidised apartments. Additionally, the development features six commercial units and a daycare centre, with a total lettable area of around 12,060 square metres. The buildings, constructed to meet the KfW-55 energy efficiency standard, were completed by the end of 2024 and in the first quarter of 2025.

The project incorporates a comprehensive mobility concept, providing numerous bicycle parking spaces with e-bike charging facilities, 148 on-site car parking spaces, and convenient access to public transportation and car-sharing services.

Michael Keune, Managing Director of CIM, stated that the funds are investing in buildings offering efficient layouts within a green, family-friendly district that contributes to a high quality of life in the Hanover growth region.

Benjamin Rüther, Head of Fund Management Residential at CIM, highlighted the advantages of the Kronsrode project, citing its strong transport connections to the city centre and well-developed public infrastructure, which includes daycare centres, schools, restaurants, and local amenities. He added that the inclusion of social housing within the project supports social diversity and cohesion in the neighbourhood.

Kronsrode is located on the south-eastern edge of Hanover, with connections to major highways such as the A37 and A7, as well as the B6 and B65 federal roads. The development benefits from nearby subway stations, Stockholmer Allee and Krügerskamp, which provide residents with direct access to the city centre in approximately 20 minutes via subway line 6. Several supermarkets are also located within easy reach of the properties.

The development aligns closely with CER’s ESG strategy. Features such as double-shell masonry with cavity insulation and a district heating system contribute to reduced energy consumption. Additionally, sustainable and socially oriented mobility options, including car sharing and cycling infrastructure with e-bike charging stations, reflect the fund’s environmental and social commitments. Governance principles are also addressed through efforts to promote cultural diversity and inclusivity in both the management and use of the buildings.

Leadership change at Globalworth Poland as Artur Apostoł departs

Artur Apostoł, Managing Director – Real Estate Operations Poland at Globalworth, has announced his resignation after nearly nine years with the company. His departure will take effect at the beginning of August 2025, prompting organizational changes within Globalworth’s Polish operations.

Apostoł has been with Globalworth since the company began building its real estate portfolio in Poland, initially overseeing real estate operations and acquisitions. Over his tenure, he contributed to expanding the portfolio, which at its peak comprised 22 office and mixed-use investments totaling 620,000 sqm of gross leasable area and valued at EUR 1.65 billion. He was involved in significant acquisitions such as Skylight & Lumen and Spektrum Tower and helped develop Globalworth’s in-house management capabilities in Poland. Apostoł has nearly 20 years of experience in managing real estate investments across Central and Eastern Europe.

Dennis Selinas, CEO of Globalworth, thanked Apostoł for his contributions, highlighting his role in the company’s growth in Poland and wishing him success in his future endeavors.

Since 2020, Apostoł’s teams have overseen the leasing of more than 580,000 sqm of space and currently manage relationships with over 500 tenants. He also led modernization projects for properties including Lubicz Park and Warsaw Trade Tower, introduced the Ace of Space serviced office brand, and oversaw the launch of the Globalworth App for building users.

Reflecting on his time at Globalworth, Apostoł described his tenure as demanding yet rewarding, noting the development of a stable portfolio and the growth of the local team from a few individuals to over 150 employees. He confirmed he would remain available to the management team during a transition period after stepping down.

From 1 August 2025, Apostoł’s responsibilities will be assumed by Rafał Pomorski and Łukasz Duczkowski, both part of Globalworth’s Polish management team.

Pomorski, Managing Director – Finance & Operations Poland, has been with Globalworth since 2017, initially as CFO, and was appointed to his current role in 2021. His previous experience includes positions at Griffin Real Estate, MGPA, and PwC. He holds a master’s degree in economics from Maria Curie-Skłodowska University and is a member of the Association of Chartered Certified Accountants.

Duczkowski, who will become Managing Director – Real Estate Operations Poland, has been with Globalworth since 2018, leading investments and special projects. His background includes roles at Griffin Capital Partners, HSBC, and Colliers International. He is a graduate of the University of Gdańsk, Bydgoszcz University of Technology, and Warsaw University of Technology.

Pomorski commented that while Apostoł’s departure is significant for the team personally, the transition of responsibilities has been managed smoothly to maintain operational continuity.

Photo: Artur Apostoł

Rock Capital leases office space in Metropolitan Warszawa

Rock Capital, a Polish developer and investor focused on the retail park sector, has leased office space in the Metropolitan Warszawa building. The company’s new headquarters occupies 460 sq m on the first floor, offering views of the Grand Theatre and Moliera Street.

Rock Capital develops, commercialises, and sells retail parks in Poland. Its tenants include retailers such as Lidl, Rossmann, Biedronka, Sinsay, Media Expert, and Pepco. The company aims to create retail properties intended to serve local markets over the long term.

Joanna Kowalska-Szymczak, founder and CEO of EBRU Capital, which manages Metropolitan Warszawa, said Rock Capital’s decision reflects confidence in the building’s office environment.

The interior of Rock Capital’s new space was designed by BIT CREATIVE and Barnaba Grzelecki. Neo-Świat carried out the fit-out work. The office is part of a recently renovated floor featuring redesigned common areas and large glass entrances created by NOKE Architects. BNM – Real Estate Advisory advised Rock Capital during the negotiation of the seven-year lease, which was signed as a green lease agreement.

Jakub Linka, President of Rock Capital, said the choice of Metropolitan was driven by the building’s location, architectural quality, and functionality.

Metropolitan Warszawa, located at Plac Marszałka Józefa Piłsudskiego, offers 33,722 sq m of office space and 3,300 sq m of retail and service space. The building includes boutiques, a fitness club, and 441 underground parking spaces, with public parking and charging stations for electric vehicles. Facilities for cyclists are also available.

The property has received several certifications, including BREEAM Excellent for sustainability, the WELL Health-Safety Rating for safety measures, and a WiredScore Platinum rating for digital infrastructure.

KINGSTONE Real Estate names Harald Kraus to Advisory Board

KINGSTONE Real Estate, a Munich-based investment manager, has appointed Harald Kraus to its Advisory Board, effective 1 July 2025. Kraus, who recently retired from the management board of Sparkasse Rosenheim-Bad Aibling, will oversee matters related to banks and financial service providers on the Advisory Board.

Kraus has over 40 years of experience in banking and finance. Since 2014, he served on the management board of Sparkasse Rosenheim-Bad Aibling, where he was responsible for commercial lending, international business, proprietary trading, and managing the bank’s investment strategies. He stepped down from his role on 30 June 2025 and plans to continue working as an independent consultant. He has also held supervisory board positions at Bayerische Landesbrandversicherung AG, Bayerischer Versicherungsverband, and the housing association of the district of Rosenheim.

Dr. Tim Schomberg, CEO and co-founder of KINGSTONE Real Estate, said Kraus’s knowledge of institutional investors and real estate financing would be valuable for the Advisory Board, particularly in a changing market environment.

Commenting on his appointment, Kraus noted that, in addition to his banking career, he spent nearly nine years in senior management at Bio-Gate AG, a health technology company, where he served as CFO and helped prepare the company’s initial public offering. He said his background allows him to contribute perspectives from both banking and corporate sectors.

More than 20 regional banks, particularly savings and cooperative banks, are already among KINGSTONE Real Estate’s investors and clients. The company provides services including the structuring and management of proprietary real estate investments. The addition of Kraus to the Advisory Board is intended to support the firm’s strategy in this segment.

Accolade expands into South Bohemia with acquisition of GARBE Park České Budějovice

The investment group Accolade has expanded into the South Bohemian Region through the acquisition of GARBE Park České Budějovice from GARBE Industrial Real Estate. The transaction includes the completed and fully leased Hall 4, the newly constructed Hall 5, and development-ready land plots for future projects. The total value of the acquisition exceeds €100 million (approximately CZK 2.5 billion), making it one of the largest commercial real estate deals in the Czech Republic this year and the second-largest in the industrial segment.

GARBE Park České Budějovice, situated in Boršov nad Vltavou, began development in 2023. Once fully built, the park will cover roughly 490,000 square meters and offer over 230,000 square meters of rentable space, comprising logistics, manufacturing, office, and retail facilities. Construction is planned in two phases, with the first already underway and the second contingent on market demand. Accolade’s acquisition includes Halls 4 and 5, as well as land for further development, which will be undertaken by a joint venture between Accolade and GARBE.

Milan Kratina, CEO of Accolade, stated that the partnership with GARBE represents a significant milestone in the company’s strategy to expand regionally. He noted that the park in České Budějovice will become one of Accolade’s largest assets and emphasised the importance of investing in regional hubs to support economic development and create new opportunities.

Hall 4, covering nearly 20,000 square meters, is leased to manufacturing companies Taconova and HAUSER. Taconova, based in Switzerland, uses the facility for production and logistics related to heating, sanitary, and solar systems, while HAUSER operates supplementary storage for refrigeration units, including those supplied to the LIDL supermarket chain.

Hall 5, covering almost 30,000 square meters, was handed over earlier this year to NOBO AUTOMOTIVE, which manufactures seat sets for premium BMW vehicles at the site.

Both completed buildings have achieved BREEAM Excellent certification, reflecting a focus on sustainability. Features include systems for rainwater collection and reuse, green roofs and façades, heat pump-based heating, and energy-efficient LED lighting and heating controls.

Martin Polák, Managing Director of GARBE for Central and Eastern Europe, commented that GARBE Park České Budějovice demonstrates the company’s success in developing modern industrial parks attractive to both investors and tenants. He highlighted the park’s strong transport links, advanced infrastructure, and sustainability standards.

The first phase of the park will soon include two additional buildings. One will house a BILLA supermarket, serving both park employees and the public, while the other will be leased to TERA Systems and Gebrüder Weiss. Construction of two further buildings is scheduled for later this year, with approximately 160,000 square meters of land available for future development.

Accolade will assume asset management responsibilities for the entire park, while GARBE will continue providing property management services. Lukáš Répal, COO of Accolade, noted that the acquisition integrates well with Accolade’s portfolio and offers opportunities to apply the company’s asset management expertise across a diverse tenant mix.

Accolade received legal advice from Kinstellar, with TPA handling tax and financial due diligence, and Savills conducting technical due diligence. The seller, GARBE, was advised by CMS on legal matters, ASB on tax and financial advisory, and RotaGroup on technical due diligence.

GARBE Park České Budějovice benefits from a strategic location approximately two kilometres from the D3 motorway, providing connections from Prague through Tábor and České Budějovice to the Czech-Austrian border. The park is situated 90 kilometres from Linz, 300 kilometres from Munich, 400 kilometres from Budapest, and 500 kilometres from Berlin. It also lies just three kilometres from České Budějovice airport, further enhancing its accessibility.

Panattoni achieves WELL Gold certification for office space in Gliwice industrial facility

Panattoni has obtained WELL Certification at the Gold level for office space located within a build-to-suit (BTS) industrial project in Gliwice, Poland. The certification was awarded under the WELL v2 standard by the International WELL Building Institute (IWBI). This accomplishment marks one of the first instances in Europe where office space integrated into an industrial facility has received such recognition, highlighting how industrial real estate can meet the growing demand for healthier and more comfortable work environments.

The certified office covers approximately 3,600 square meters and is part of a research and development facility supporting a global automotive manufacturer in its work on conventional and advanced suspension systems. Panattoni noted that the project serves as a benchmark in the Polish market, particularly in the industrial sector where WELL Certifications remain rare. Achieving WELL Gold Certification required an integrated design approach, technical solutions, and close collaboration with the client.

Marek Foryński, Managing Director for BTS at Panattoni, stated that delivering a WELL Certified office within an industrial development demonstrates how tailored real estate solutions can address operational needs while also supporting employee well-being, employer branding, and talent attraction strategies.

The certification process focused on several health-related aspects, including ventilation systems that supply 30% more fresh air than typical standards, advanced water testing, moisture control measures, ergonomic workspace design, acoustic optimization, and natural lighting strategies. Emilia Dębowska, Head of Sustainability Europe at Panattoni, explained that achieving Gold Certification involved using low-emission materials, enhanced air filtration systems, rigorous water quality protocols, and biophilic design elements to promote both physical and mental well-being. She highlighted the critical role played by the client’s engagement and the expertise of WSP, the WELL Performance Testing Organisation, in achieving the certification.

Client collaboration was key to the project’s success, with active involvement in decisions related to thermal comfort, healthy food options, physical activity initiatives, and mental health support programs.

Each category evaluated during certification, such as air, water, nourishment, light, movement, thermal comfort, sound, materials, mental health, and community, contributes to advancing the United Nations Sustainable Development Goals. Ann Marie Aguilar, Senior Vice President for EMEA at IWBI, praised Panattoni’s achievement as a demonstration of commitment to creating workspaces that prioritise health and well-being.

WELL Certification is based on research into the relationship between building environments and the health of their occupants. The office space at Panattoni’s BTS facility in Gliwice underwent comprehensive testing and third-party evaluation to confirm compliance with WELL Gold standards.

This certification underscores Panattoni’s position as a leader in delivering modern industrial spaces that align with high standards of sustainability and employee well-being.

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