Českomoravská Nemovitostní (ČMN) has acquired the building that serves as headquarters of international company Nestlé, adding it to its real estate portfolio. The transaction was worth hundreds of millions of Czech korunas; the parties decided not to disclose the exact figures. ČMN has bought the modern building with a glass façade from CPI, a real estate company owned by Radovan Vítek. CPI bought the building from Sekyra Group, another prominent Czech developer, for CZK 651 million in 2008.

“After closing this transaction, the value of our real estates exceeded one billion Czech korunas. This is a fantastic result of our sustained efforts and, at the same time, a great commitment to our co-investors, who have helped us finance the transaction,” said Radek Stacha, Vice-Chairmen of the Board, ČMN.

With more than 8,000 square metres, the U-shaped building with 5 floors above the ground and 2 floors under the ground is located on the industrial site of a former chocolate factory Orion in Prague 4. Since 2006, it has been used by Nestlé Czech Republic. Along with offices for 350 employees and a view to a spacious atrium full of greenery, the premises also include a conference and training centre, a large outdoor terrace, a canteen, a factory store and utility rooms.

ČMN is a real estate holding focusing on purchasing and holding commercial real estates in the Czech Republic. In this segment, it focuses particularly on office buildings, which are regarded as predictable and consistent in terms of generating rental income.