CPI bought Živnostenská banka building

CPI has completed purchase of the former Živnostenská banka building in Prague city centre at Na Příkopě street. It paid UniCredit bank over CZK 890 million. Compared to modern office buildings Živnobanka building has a distinctive charm which stems from its unique location and historical value. Companies have shown long-term interest in this property. Its central location and diversity of infrastructure is a unique combination for small as well as large companies,” said Zdeněk Havelka, CEO of CPI Group. The former Živnostenská banka building was built between 1894 and 1896. The building consists of three parts with a total area of over 19,000 sqm. Last year CPI Group concluded acquisitions worth more than CZK 16 billion. The purchased properties include for example office buildings bought from PPF with the dominant tenant Česká pojišťovna, a complex of retail parks in the Czech Republic and Slovakia, Olympia centre in Teplice and Mladá Boleslav, industrial complex Lozorno in Slovakia, City Park shopping centre Jihlava and others.

The firm also invested in development projects. It completed admin and hotel complex CPI City Center in Ústí nad Labem in spring. It started reconstruction of Gomel hotel in České Budějovice, construction of another multi-purpose complex called CPI City Center Olomouc and commercial premises in Trutnov and Beroun. CPI´s prepared projects include COPA Centre at Národní street in Prague, retail real estate in the regions or reconstruction of the Ostrava Clarion Hotel and completion of its congress centre. The company owns 12,600 rental flats, 500,000 sqm of retail space, about 200,000 sqm of offices and 18 hotels in the Czech Republic.