Penta, a Central European investment group, commenced the construction of its Florentinum project after receiving an area planning permit in December.
The project has been introduced to public at a press conference today.
The new administrative building with a retail arcade, piazza and garden will be built between the Na Florenci and Na Poříčí streets, replacing the former Rudé Právo building, whose demolition is now being completed.
Penta bought the project in January 2010, will invest a total of EUR 200 million and plans to complete it in the 4th quarter of 2013. The Florentinum shall offer the largest office area under one roof on the Czech real estate market – 49,000 gross square metres of highest quality office space on 9 floors.
In September 2011, the project has obtained the LEED Gold pre-certification for its energy-saving technologies and high-quality of building materials. Its central location and great accessibility make it a unique proposition which will no doubt enjoy an exceptional position on the real estate market. Penta is currently negotiating pre-leases with a number of potential office and retail tenants.
Both the tenants and the public will also benefit from other spaces within the building – a retail arcade connecting the Na Poříčí and Na Florenci streets, a piazza with restaurants and cafés and a renewed Des Fours Palace garden. The retail area, totalling 7,500 sq m, shall offer a comprehensive array of everyday services such as a supermarket, chemist, pharmacy, and
restaurants.
“Our goal is to improve the appearance of the entire area around the Florenc bus station. The area has been a commercial centre since the 14th Century and we want to bring this reputation back with the Florentinum project. I am convinced that this part of Prague 1 has significant potential and that thanks to Florentinum, commercial and social life worthy of a centre of capital city will return to it,” said Petr Palička, Director at Penta’s Czech Real Estate Division.
“The Florentinum project is a fascinating opportunity for an architect to build a bold, elegant and timeless building. For me personally, the most important aspect is the creation of new cityscapes in the very centre of Prague – a piazza and a garden. These two public spaces in a long-neglected area will now have a positive impact on the city’s physiognomy,” said Jakub Cigler, the project’s architect and a partner at Cigler Marani Architects.
About Florentinum:
- Florentinum is Penta’s first real estate development in the Czech Republic (it already owns 11 real estate projects in Slovakia)
- Penta will invest a total of EUR 200 million into the project
- Completion is planned for Q4 2013
- Penta purchased the Česká typografie facility (former Rudého Právo daily buildings) from Austria’s S+B CEE Beteiligungsverwaltungs in January 2010 and plans to develop it into the largest office building in Prague, the Florentinum
The project will include:
- 49,000 gross square meters of offices on 9 floors – with efficient and flexible layout options
- 7,500 sq m of retail space offering a comprehensive array of everyday services (supermarket, chemist, pharmacy, restaurants, cafés, client centres, showrooms)
- Public space on the piazza and within the renewed Des Fours Palace garden
- The project obtained the LEED Gold pre-certification
- The building is designed by Cigler Marani Architects