Clifford Chance

Clifford Chance advises on acquisition of Churchill Square office complex

Clifford Chance Real Estate team advised Corporate Finance House Group (CFH) in a joint venture with Českomoravská Nemovitostní (ČMN) on acquisition of Churchill Square office from Penta Real Estate. The value of over CZK 4 billion made this the largest Real Estate office transaction of 2020 in the Czech Republic.

Churchill Square office complex is located near the Prague main train station. The brownfield area near the main train station transformed rapidly since 2017 when Penta Real Estate started with a construction of two office buildings and when SUDOP started with the development of residential building one year later. One of the office buildings is currently a headquarters of Deloitte and a main part of the second one is occupied by Fortuna Entertainment Group. Also, number of services and retails operate in the ground floor of the complex.

This is a fourth investment in Prague area since 2016 for CFH, whose strategy is to expand on the Prague Real Estate market in the long term. The transaction is preceded by a number of acquisitions on which CFH and ČMN cooperated.

The Clifford Chance team was led by Prague Real Estate Partner Emil Holub and Counsel Milan Rákosník, supported primarily by Associates Josef Lysoněk and Tereza Řehořová.