News

Cushman & Wakefield teams have been awarded in 5 categories at the 2019 CIJ awards Czech Republic on Thursday 28 November 2019, held at Slovanský dům's Empire Hall. It is an outstanding result having the most awards of any.

Cushman & Wakefield was appointed the manager of the new Stromovka shopping centre that officially opened in Prague’s Letná quarter on Thursday 21 November 2019. Cushman & Wakefield has also prepared the shopping centre’s comprehensive marketing strategy and was partially involved in letting the premises.

The Galerie Butovice shopping centre in Prague’s Jinonice quarter is currently enjoying good times. The scheme’s footfall has been rising constantly ever since the centre’s principal reconstruction and extension in March 2018, which resulted in changes to tenant structure and a much more varied offer of the food court. The changes, which we facilitated for Cromwell Property Group, the co-owner and manager at the time with a massive support from the major shareholder York Capital Management, with our Retail Property Services and Retail Shopping Centre Releasing teams were crowned by a successful sale in October 2019 to Investika realitní fond, a Czech open fund. Galerie Butovice has come a long way over the last four years with 85% of retail space changed and 40 new tenants having opened their shops in the centre. The scheme’s overall performance improved greatly and its growth potential is not yet exhausted.

The Czech Republic made it to the Top 20 countries ranked by the most expensive retail street for the second time in Cushman & Wakefield’s annual Main Streets Across the World 2019 chart. It climbed to No.18 thanks to Na Příkopě, a street where the prime rental value is EUR 235 per sq m per month. The Czech Republic is the only country in the Central and Eastern European region to make it to the Top 20 this year (it appeared in the chart last year for the first time ever), confirming its reigning position on the Central European market.

Two retail projects we have been working on awarded in Best of Realty 2019 ceremony, in the category Shopping Centres.

Shopping is not just about making a purchase anymore, it’s about visiting a destination and enjoying a unique experience. Physical retail is very much alive – but it is undergoing a significant and rapid evolution. People will continue to shop in the traditional sense, but there is no doubt that parts of the European retail market will face growing challenges.

Cushman & Wakefield announced that the firm was named the world’s top commercial real estate advisor and consultant for the second consecutive year by Euromoney’s 2019 Real Estate Survey. Cushman & Wakefield was also named the top advisor and consultant in Central and Eastern Europe and several individual countries including the Czech Republic. 

Twenty-eight¹  out of the total of 80 brands that tapped the market in the Central and Eastern European region²  in 2018 chose the Czech Republic as their destination. As a result, the number of new brands coming to the country remained the same as in the previous year. Poland is a close second with 26 new international brands having opened their first shops there last year. The figures come from the latest comparison prepared by Cushman & Wakefield, which monitors and compares data in the real estate sector across the region. This enables the company to provide a full picture of the developments on the Central European market.

​As shopping centre markets reach maturity in most European countries, there will be growing polarisation between successful prime schemes and struggling secondary sites which are having to diversify to survive, according to new research from Cushman & Wakefield.

Cushman & Wakefield enjoyed an outstanding evening of success at the HOF Awards 2019.