CPI Europe AG Completes Sale of Prague Historic Building

CPI Europe AG has announced the sale of a historic building located at Na Příkopě 14 in Prague. The property, under CPI Europe's ownership since 2006, is a significant mixed-use office and retail space with 17,200 sqm of lettable area. Before the sale, CPI Europe enhanced the tenant mix, refurbished the building, and secured an LEED Platinum certification for its sustainability and quality standards.

Previously, the retail area hosted Hamleys and The Playground. A new flagship store for a fashion retailer is expected in autumn. Other tenants include the law firm White & Case and a Lidl supermarket. Pavel Mechura, Executive Board member, highlighted the property’s transformation into a lucrative investment opportunity.

The sale, over €100 million, marks CPI Europe's second large transaction in April. Proceeds will reduce debt and fund new developments, including expanding STOP SHOP retail parks in Central and Eastern Europe.