CPI Europe sells landmark property in Central Prague

CPI Europe has completed the disposal of a historic property located at Na Příkopě 14 in Prague, Czech Republic.

Na Prikope 14, Prague

The asset, which has been owned by the company since 2006, is one of the most prominent mixed-use office and retail buildings in Prague’s historic city centre, offering approximately 17,200 m2 of total lettable space. The sale was achieved on favourable market terms following CPI Europe’s strategic enhancement of the tenant mix, refurbishment of the building and optimisation of its overall potential.

The retail component was previously occupied by Hamleys and later by The Playground, which ceased trading earlier this year. The space is set to welcome a new flagship store for a leading international fashion brand this autumn. Other occupiers include law firm White & Case and a Lidl supermarket. The building meets high standards of sustainability and quality, underscored by its LEED Platinum certification.

Pavel Mechura, Executive Board member of CPI Europe, commented: “The story of Na Příkopě 14 demonstrates how active management can create an attractive property for those seeking a long-term and conservative investment opportunity. With this sale, we have completed the investment cycle for this property.”

The disposal of Na Příkopě 14 marked CPI Europe’s second transaction exceeding €100 mln completed in April. Proceeds from the sale will be used to support debt reduction and reinvestment into new projects, with a particular focus on expanding the Stop Shop retail park portfolio across Central and Eastern Europe.

CPI Europe is currently developing four retail parks in Croatia and plans further developments in Serbia, Hungary and Croatia during the 2027–2028 period.