Clifford Chance

Clifford Chance advises CBRE Global Investors on the acquisition of the largest shopping centre in the Czech Republic

Clifford Chance's real estate team have advised long-standing client CBRE Global Investors on the acquisition of shopping centre OC Letňany from Tesco, on behalf of a separate account client of CBRE.

OC Letňany, the largest shopping centre in the Czech Republic with 160 units and comprising 63,478 sq m of retail and 3,551 sq m of office space, offers visitors stores from well-known global brands, such as C&A, H&M, Zara and Marks & Spencer. The centre, anchored by a recently modernised Tesco hypermarket, also provides a multiplex cinema, food court and 3,200 parking spaces. Tesco will continue to operate its hypermarket in Letňany, its flagship store in Czech Republic, on a long-term lease.

The transaction was led by partner Emil Holub, supported by real estate associates Aneta Disman, Michal Pivarči and Milan Rákosník. Partner Miloš Felgr advised on the financing aspects of the transaction, supported by associate Dominik Vojta. The team in Prague also coordinated the advice of colleagues from Clifford Chance's Frankfurt, Luxembourg and Amsterdam offices.