Apartment building

Prague 1, Nové Město

Key investment criteria

• gross floor area 1,796 sq. m.
• net leaseable area 1,540 sq. m.
• current yield 3.67% p.a.
• some units are currently rented short-term, some long-term
  
• potential to increase the leasable area by an extension, study to increase by approx. 190 sq. m. the net rentable area
• sale in the form of a transfer of a property (share deal)

Property description

• building built in 1920
• complete reconstruction in 1996–1997, then regular maintenance and partial modifications
• 4 above-ground floors, basement, and an attic
• brick structure (wall thickness 45–60 cm), gable roof with dormers and skylights
• wooden Euro windows
• stone staircase, exterior sandstone cladding 
• floors: parquet, tiles, granite
  
• basement: cellars, boiler room, office, corridor, cleaning, and storage
• ground floor: entrance hall, hall, staircase, shop, restaurant, and 2 apartments accessible from the courtyard
• 1st-5th floors: apartments, corridors, stairs
• balcony overlooking the southwest-facing paved courtyard with flower beds
• elevator (capacity 750 kg)
  
• apartments on the ground floor boast air-conditioning and underfloor heating
• central gas heating and DHW heating (2 x Vaillant boilers from 2020)
• master key, chip access system, thick wooden front door
• cable and satellite TV distribution, Vodafone Internet

Location
An excellent area right in the center of New Town, on a one-way side street leading to Wenceslas Square. Within a short walking distance is the Muzeum transfer station (lines A and C) or the Karlovo náměstí station (line B), tram stops, the Main Railway Station, and complete civic amenities.

Gross area 1,796 m2, net leaseable area 1,540 m2, built-up area 478 m2, plot 478 m2.