BB CENTRUM HEADING FOR FURTHER BOOM

It is standard practice to put up a building, selling it and immediately turning attention to another scheme. Unlike the other developers on both the domestic and foreign markets, Passerinvest Group is a Czech company that have been involved in the development of BB Centrum continuously since 1992. With the potential for growth at least until 2011, the site is going through a further phase in the development now. Under construction these days, Building BETA will offer about 18,000 sqm for lease. Although due for completion next spring, the BETA has already attracted the first tenants. This can be illustrated by the Hacienda Mexicana restaurant/cafe, which will be on the first above-ground storey, and Goodyear company, with a 900-sqm office area leased out to them on a preliminary basis. In addition, the end of this year will see beginning of the Building GAMMA construction. Comprised of three underground and ten above-ground storeys, this building situated immediately next to the D1 Motorway will become a dominant feature of BB Centrum. Building GAMMA will provide an area of about 30,000 sqm for lease, with office space in particular. It is the 13-sqm Building E that will be erected immediately next to the approach ramp to the trunk road towards Prague’s centre. The plan envisages retail outlets and a conference room on the ground floor to serve not only for the tenants of BB Centrum. What else is under preparation these days is the general redevelopment and conversion of Nová Brumlovka into a unique sports centre of the new generation. All the premises that have been developed within the BB Centrum scheme are leased out these days, except for 20% of the space in Building ALPHA, which was completed last year. Most recently, British Telecom and ČEZ have been included in the list of its tenants since this September and July respectively. In view of this, they are immediate neighbours of the major companies such as Microsoft, Czech Puma Dassler, EDS, Setuza, Salve Group, and D.S.Leasing, together with the developer of the scheme, Passerinvest Group. All the other buildings that have been completed are fully occupied on a long-term basis, with lease contracts concluded with large multinational companies in particular. Owing to these big names, BB Centrum is a prestigious address.

What is of vital importance in successful development of BB Centrum is accurate information concerning the structure and requirements of the people that work there. This explains why Passerinvest Group is the only developer on the Czech market to conduct regular surveys on the tenants/staff’s satisfaction. Not surprisingly, each of the new developments offers increased retail areas tailored to the exactly defined needs of the BB Centrum’s people. One need only think of the latest survey carried out by Passerinvest Group this May, which revealed requirements for a stylish restaurant. Unlike the existing cafeterias, the required restaurant should be a perfect setting for business meetings. In addition, the services in demand include a relatively small supermarket, a cash dispenser, a tobacconist’s, a post office and a video shop. The priorities identified by the tenants and their staff will naturally influence also the mix of services provided by the proposed sports centre known as Nová Brumlovka, which has met with great interest.

Radim Passer, Chairman of the Board, Passerinvest Group, commented: “There is still a considerable demand from large companies, which require high-quality office facilities situated in a prime site out of the centre, and Prague 4 undoubtedly has these qualities. Judging by the views and presentations of the facilities organised by our company, we can say that the demand is quite big, and BB Centrum has acquired a very good name on the market. Of course, we are aware of competition from other projects, however, BB Centrum fares very well, attracting good and, last but not least, credible tenants. The majority of the premises developed by our company was leased out even before the final inspection proceedings. The construction of Building BETA began without any preliminary lease contracts either, and we do believe that the great bulk of the premises will be leased out before the final inspection too,” said Radim Passer.