Passerinvest Group as an exemplary positive builder

/v /přidal

Passerinvest Group is a Czech investment and construction company founded in 1991 by Radim Passer. The company’s main project is Brumlovka in Prague 4, where they turned an originally unattractive and neglected brownfield into a fully-fledged modern and pleasant part of the city.

Eduard Forejt, who has been working at Passerinvest Group since 2018 and is the Director of Business Development, spoke with us about the current situation in the real estate market and the company’s plans.

We can start on a more general note – how is Passerinvest Group doing in the market? 

It has two dimensions. One is Passerinvest Group (hereinafter Passerivest) the investor and the other Passerinvest the builder. The first covers the buildings we own, manage and develop. Currently, this represents approximately 250 000 sq m of rental premises. In Brumlovka alone, we own 10 out of 12 administrative buildings. We continue to develop Brumlovka, so we are preparing several projects for construction. There we come to the second dimension, which represents Passerinvest as a builder. Unfortunately, the circumstances affecting the economics of projects have changed fundamentally in recent years, especially in the area of financing, which is directly connected to interest rates that are still increasing or have been increasing in the European market. But it is not the only area where the economy of buildings has changed negatively. When simplified, the calculations are affected by four parameters – acquisition value, construction costs, then there are software costs, which also include the financial ones, and the sales value determined by the so-called yield. These parameters determine what potential profit you can take into account. However, since there was an unprecedented deterioration of all parameters, we find ourselves in a situation where it is irresponsible to commence construction of new administrative buildings.

And what is actually new in Passerinvest?

I don’t know if it is completely new, but there are two directions I would like to talk about. The first direction refers to our initiatives through which we try to shed light on socially important topics in a very transparent manner. When you look up the www.republikabohatsi.cz website, the videos and other materials will inform you more about the motorway initiative or the development of buildings for a richer country. For example, the data for the second initiative (development of buildings for a richer country) describe beautifully the fundamental importance of construction for the well-being of all citizens of the Czech Republic. That is also why our main motto states: “When your neighbour builds, you also get rich.” For instance, almost 76% from every invested crown goes, thanks to multiplication, to the state budget, that means that every one thousand-crown note invested in the construction of buildings ‘enriches’ the state by CZK 760 . And these are the funds that the state will use, for instance, for teacher or policemen’s salaries or for anything else that our society needs. Moreover, construction generates new jobs, not only during the construction phase, but also after its completion. That is one part.

And the other one? 

I will give Brumlovka as an example. Passerinvest has been developing it for 25 years. There we show how the city interacts. Brumlovka is distinctly administrative, but it is built in an area whose surroundings actually form the largest residential part of the city. Historically, there was a lot of housing, but little space for work, which forced people to commute far for work. The first facilities built within the brownfield were offices creating much-needed jobs with public areas. The offices were gradually complemented with shops and eventually with a nursery school, a school, etc. The area started to become a fully-fledged area, if not an above-standard part of the city. Urban planning was formerly set by the architect Aulík, and we still stick to his concept. We show that the city has the ability to function in that interaction, that a new sub-centre of the city district can also be created. We have reached the point where we are building more apartments because, according to our calculations, there is a lack of new buildings in the immediate vicinity – especially when it comes to rental apartments. We currently have two new buildings planned in Brumlovka. One has already been issued with a building permit and will include around 66 rental apartments. We are now specifying what such a rental apartment should look like in order to complement the structure of the given location. We are aware that we are part of a larger entirety and create some kind of added value for others. So, with a bit of exaggeration, I say, for instance, that today we have the largest swimming pool in Prague 4, because our water features are used a lot by children during the summer – and not only by them. If you keep a close eye on what is going on around you, you’ll realize that the water features could use deck chairs for people to relax, so we have added them there. It is a kind of unintentional participatory process. But to make it clear, Brumlovka is not there only for people from nearby offices. Those who work there are not there at weekends or in the evenings. Still, Brumlovka is widely used for various accompanying programmes, dance and travel clubs, running with Puma, etc. We simply support all activities that shape the local community and show that if you approach the locality as a whole and with a certain vision, it is possible. 

So, Brumlovka can serve as a manual of city-forming elements… 

I think it can and on top of that, it was based on a brownfield – originally, there were landfills, broken garages, etc., so the acquisition value started at zero. I believe that it is a nice example of how to execute a fully-fledged revitalization of the city. With such projects, you must not deal only with houses, but with the entire territory, and this has definitely turned out well in Brumlovka, judging by the reactions of foreign visitors who come there to check it out and absorb our approaches to the revitalization of the city. We don’t keep our experience to ourselves. We try to educate others and cooperate a lot with schools, professional public, etc. We don’t stop even when there is an economic struggle today and inflation pushes us to higher price levels. But we don’t want to compromise on the quality of construction, and our example shows that it can be done. The good thing is that we are not alone and we are sincerely pleased that there are more responsible developers in the Prague market thinking about the territory in a long-term perspective. We logically transfer our experience and corporate DNA to other projects. For instance, we are now finishing the Roztyly Plaza project, and people wonder why we build parks first and then build buildings. I say that this is simply a kind of Passerinvest’s fundament to first create a location and not wait for construction. Of course, it is important to say that our financial situation allows us to do this. If this were not the case, we would probably have to do it differently, but our projects definitely work and will work with the connection to their surroundings and the creation of quality public space. 

Sorry, you said revitalization, don’t you mean recycling?  

I don’t like to use the word recycling for Brumlovka as it is a very different discipline. Recycling is a state where one out-of-date function is replaced by a new one with a higher value. At that moment, you may have to buy functional, though aging apartments or some other space that is still usable in order to demolish it and build a new building.  

What does the Roztyly Plaza project actually look like?  

We are still building it, but it is already beautiful, the whole figure can already be seen, and the facade is gradually being clothed in its final appearance. But that is, of course, a subjective view, even though it is a view of someone who has been dealing with administrative buildings for a long time. However, the project is being created in the neighbourhood of an already existing leisure park with outdoor fitness and workout elements, pump tracks, a children’s playground, etc. The community that is already being formed there is discovering that what we present in the plan will really be built in an appropriate quality. This is also why the visualizations of Roztyly Plaza are a very faithful representation of what is actually being created there. It is a kind of DNA of Passerinvest and Mr. Passer, who pays attention to the quality of user space as well as to the aesthetic level, because both components are simply inextricably linked. The users can perceive it, even if they often can’t define it. It is like when you feel nice in some place and you don’t know exactly why. 

Is there anything that currently surprises you or catches you unawares during construction?

I wouldn’t say that there is anything that would catch me unawares, but our assumptions, which I talked about in the first part of the interview, are being unpleasantly confirmed. The reality is that for the first time, I am encountering a situation when we – like Passerinvest – have a building permit, but we are not starting construction because it would be irresponsible to do so from an economic point of view. The market is not yet ready to accept higher rental prices, just as there has been no correction in the other parameters of the construction economy. Every builder has an inner desire to build, so we do everything we can to resolve the individual aspects of price formation to such an extent that we can build as soon as possible.  

Arnošt Wagner

Photo: Passerinvest Group archive

Higher visual comfort = higher employee performance!

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The topic of savings in commercial buildings now represents one of the top priorities of all operators of commercial buildings. But in fact, saving costs in operations also make it possible to achieve better comfort and higher employee performance. 

Visual comfort goes hand in hand with ‘non-invasive’ lighting control, without the need for complex reconstructions. It can be achieved by a simple installation of lights with wireless control and utilization of natural sunlight in the building during the day. Commercial buildings are usually more than 50% glazed. Employees don’t need to worry about setting the lighting intensity withing the working area. Everything is done on their behalf by a wireless lighting control system, which is additionally installed without the need for cabling with illuminance sensors and presence monitoring at the workplace. 

Hybrid work has changed offices

Offices are developing by pushing the boundaries between work, living and co-living, which requires a radical examination of traditional office lighting installations, this being especially due to the upswing of hybrid work. Wireless lighting control has proven to play a really huge role in providing flexible, highly attractive administrative premises that offer superior user experience, less energy waste and better employee well-being and productivity. Combined with daylight and occupancy detection, intelligent lighting control can save significant amount of energy in offices by ensuring that the right light is used when necessary. These systems can be easily controlled by switches, sensors or mobile applications. 

Example No. 1: Donaldson Filtration Solutions offices, Kadaň

The need to replace cassette strip lights (which are no longer available for sale in the EU) came only 15 years after the start of operation. It involved 600 sq m of offices (two open space areas with a corridor + 10 offices, two meeting rooms) and car park and loading area lighting that was secured by street lighting. 196 lamps were replaced with a retrofit completion of the original Synergis Lighting_Control wiring with lighting automation and control of office lighting: 

  • The light from the windows was used because the building was 50% glazed.
  • Dimming was controlled in accordance with daily increase in light. 
  • The seven-fold increase in the price of electricity brought about the need to reduce the seven-fold higher costs of the original lighting. 

The nominal consumption was reduced by around 58% in exchange for 196 LED recessed PROLUMIA Pro-Office DALI lighting fixtures with UGR<16 with the best visual comfort in the market.and additional consumption was reduced to 120 installed LED lighting fixtures by another 40% thanks to automated control using the Synergis Lighting_Control by Casambi technology. Dimming was set using light and presence sensors that regulate the performance of the lighting fixtures. The automation of lighting schedules was set in accordance with the presence of people in the 50% glazed offices. 

And the result?

The qualified estimate of savings using active control was around CZK 425,000 per year, while the acquisition costs for this ‘retrofit’ control system were around CZK 380,000.

After adding up the savings, Donaldson Kadaň came close to the original lighting costs with a huge shift in employee visual comfort and increased employee performance thanks to the extremely low lighting factor of the lighting fixtures under UGR<16. 

Example No. 2: Control room of the hydroelectrical power station Střekov – ČEZ Renewable resources: 

It was expected for the lighting comfort to improve when the colour temperature of the lighting changed during the day. The lighting of the control room with 24/7 operation was replaced by fully automatic controllable lights in accordance with the circadian rhythm depending on the time of day for better visual comfort with PROLUMIA Pro-Office TW (tunable white) lights. Autonomous control of the circadian rhythm and dimming was set up using the Synergis Lighting_Control.

Industrial premises are one of the more complex types of buildings to light. Energy consumption for lighting industrial facilities, especially industrial warehouses and storage areas, belongs to the highest ones (46 kWh/sq m per year), therefore it is very important to reduce operation and maintenance costs when the energy savings are being increased. Production halls are premises that can mostly operate 24/7, which means that energy-saving lighting fixtures and more efficient use of daylight are beneficial not only for energy saving, but also for improving visual conditions and the overall well-being of employees.  

Example No. 3: Production premises of Jakob Müller AG – Czech Republic 

After 15 years of operation, the company needed to replace their strip lighting with approximately 200 PROLUMIA Retrofit II LED lights. There they used incident light from skylights measured by wireless motion/light sensors with optics used in high-altitudes. Autonomous zonal Lighting_Control of individual workplaces was modified using lighting dimming according to shifts and the needs of individual production departments from the warehouse, welding room to quality control of all production areas in accordance with the set Luxes in workplaces came to 200 to 750 Luxes. 

 

Thanks to this change, 77% of the original costs are saved during daily operation. 

Advantages of the Synergis solution for building operations: 

  • energy efficiency and sustainability, 
  • data and connectivity, occupancy control, 
  • no need for Internet connection for daily operation, 
  • reduction of operating costs, 
  • wireless emergency lighting with automatic testing and reporting, 
  • trouble-free installation, easy way of being put into operation.

What to say in conclusion?

Today’s modern office and industrial buildings need a different approach to lighting; it should be flexible, adaptable to changing functions and user preferences, and energy efficient. Lighting is the largest endpoint of electricity consumption in European offices accounting for 40% of all electricity consumption. Intelligent lighting control can save up to 60% of energy in offices when combined with daylight, while occupancy detection can save up to 44% in comparison with an installation without sensors.

What is also important is the functionality for the end user; a recent study states that 33% of office workers said that they would like to adjust their ceiling and desk lighting to the level of incoming daylight. Giving workers individual control over lighting, which is also required by green building certification schemes such as LEED and BREEAM, can easily be achieved by installing the wireless Synergis Light_Control in all, even already existing buildings. 

Richard Jílek, Photo: Synergis archive 

ANTRACIT strengthens its position, taking on more projects

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The portfolio of the ANTRACIT Property Development Group ranges from logistics and manufacturing to administrative projects in the Czech Republic and Slovakia.

Continued revitalisation of the Ostrava centre

The residential and office project Multifunction House VÁCLAV will be built in the historical centre of Ostrava. Rescue archaeological research is currently underway, and construction will begin in early 2024. Another project is ANTRACIT Lívia comprising smart wooden houses built in the District of Moravská Ostrava and Přívoz. Finally, from September 2023, the visitors will have a chance to use the ANTRACIT PorubkaPoint known as a HANGAR Ostrava climbing centre. The ANTRACIT Pilsen brownfield project (rental and warehouse premises) is underway near the main Pilsen railway station. Reconstruction and construction work will start in 2024. Another project, ANTRACIT Ústí nad Labem brownfield area will offer a total of eight premises intended for manufacturing, warehousing, and/or offices. The complex is currently being revitalized.

Development boom in Slovakia

The ANTRACIT Spot project in Žilina will be handed over to a gymnastics and parkour academy for children and teens at the end of January 2024. For the second stage of the ANTRACIT Senec project documentation for EIA and zoning proceedings is being finalized, and construction will start at the end of 2024. The project ANTRACIT Prešov is in its final stage of being connected to the underground utilities. The premises are suitable for warehouses, showrooms, and/or shops. 

More at www.antracitproperty.eu.

Modern facility management is loaded with technology

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There are many different things one can see behind the ‘modern facility management’ term. Some see it as a not really ‘sexy’ field that deals with buildings, premises, and security. 

However, modern facility management has become quite ‘sexy’ in recent years due to new technologies. The flourishing of IoT and robotics and all the technological innovations that have already been here but started to make even more sense with the energy crisis vindicate it. 

IoT helps savings and efficiency 

Technologies can not only save costs, but they also serve as a great tool in the decision-making process of business management. Thanks to them, management is always well aware of what is happening anywhere within their buildings or premises and can thus decide how to set up further processes based on relevant data. Keeping a good track and having the possibility to actively influence the efficiency of individual workplaces is often priceless. 

Systems and sensors interconnected within the IoT system contribute to savings and efficiency significantly. There is no need to send workers to take readings and have the necessary data only once a month or a year. IoT and remote readings give you real-time data and you can also see the trend at times when reading would otherwise not be possible. This is how OKIN Facility revealed for some clients, for instance, the operation of equipment in production even when there was no production in process. Modifications and in some cases automation of processes allow one to do a lot, which saves money and time. In some cases, the system can, for instance, alert you to increased values and the worker can decide himself what to do next. At other times, the system can be set automatically. If any value is exceeded, a message (alarm) is generated or pre-set automated procedures occur. 

The OKIN Facility has the advantage of having their own system, which can also be connected to the client’s system, so there is no need for the client to purchase an additional system. The biggest advantage, however, is the possibility of connecting different types of sensors and detectors into one system. Sensors and detectors usually have their own applications, which usually cannot be interconnected. This is not the case here.

A case study from retail with a specific solution

The following business case from a retail area can document the use of IoT in practice. The customer manages an extensive network of branches and was looking for an efficient and comprehensive solution for the supervision and control of their operations. The main challenges were to monitor the quality of goods storage and energy consumption in individual branches, measure the temperature within the area in order to optimize heating (and thus reduce costs), centralize the control of light advertising in order to eliminate unnecessary waste, and at the same time increase user comfort. The aim was to ensure that all branches are managed centrally and in real-time, which would lead to better control over the operations, cost savings and overall efficiency gains.  

OKIN Facility and their partners delivered a complete solution to their client. From the initial analysis and mapping of the state of the branches through suitable hardware for fitting existing energy meters, temperature sensors for refrigerators and stores and devices for turning on and off light advertising to its physical installation on site. These devices are operated using batteries with a multi-year lifespan and thanks to advanced LP WAN networks, such as LoRaWAN from ČRA. 

The brain of the entire solution is SARAhub’s own cloud platform, which collects data from all devices and sensors, displays detailed information, history, trends and, above all, enables timely and automated response to emerging situations using user-defined scenarios. The advantage is the combination of different agendas within one environment and further expansion possibilities. 

The next logical step is to use the collected data for ESG reporting, expand the functionality by counting people in the store, footfall analysis, or monitoring the filling of waste containers in selected locations in order to optimize waste collection.  

Robots (and cobots) save costs and manpower

It is not only energy efficiency, but also, for instance, cleaning whose process is also performed using robots. Sometimes, they are also called cobots, because they still need some kind of cooperation with people. But even they can take care of much more efficient cleaning, because they can clean for hours with the same quality and without getting tired. Similarly, they can handle cleaning in warehouses and halls where they need neither heat nor light. That is where further efficiency is achieved due to energy savings, because the lights would otherwise stay on all night during cleaning time. The most effective combination of working and charging time and an appropriately selected robot for a specific environment and surface is not only about choosing the brand of the robot, but about real knowledge of technologies and their possibilities (each manufacturer and model is different) as well as the cleaning process in specific clients’ operations.

Today’s robots know how to learn, their software and their flexibility are constantly being improved for even more perfect cleaning and better assistance. They can’t do everything yet, but they can already do a lot. In the same way, human labour force (on which facility management is based) can spend more time on jobs that are more complicated and robots cannot handle yet. At OKIN Facility, these technologies and innovations are dealt with by a special department with people who understand both technology and facility management and provide clients with further efficiency and added value.

Technology represents an important help in this field – and not only there. It is just a matter of how best to use them and adapt the whole process for it to be really efficient and make it possible to work in more places at the same time and with a more significant use of human labour force and skill, because the rest can be helped with by technology. 

Ing. Tomáš Polák

Photo: OKIN Facility archive

Liget will offer smart apartments with a view of Bratislava Castle

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Just as Prague looked out for the unique Fragment by Trigema, Bratislava is enjoying a new dominant feature of a development construction. 

VSD Development is completing Liget, a high-rise apartment building with an ambitious goal – to take the Slovak housing market to a new level with its architecture, design, location and also comfort, which will be fundamentally supported by smart technologies. Famous Slovak personalities and businessmen are already hanging about the luxury apartments. They probably don’t want to miss the opportunity to be present at a prestigious project that stands out on the map of Slovak development projects. 

North American style and a dreamt-of maisonette

When presenting new projects, no developer usually spares superlatives. What did VSD Development do then to make Liget different and live up to its motto of ‘a new history of housing’?

The modern high-rise building is situated on the edge of the Janko Kráľ Park in Petržalka district, Bratislava. It was designed by an experienced architect Ľubomír Závodný and members of the DZ Architekti office. The glass design is complemented by at first sight inconspicuous balconies, which make them look like high-rise apartment buildings from North America. 

Liget is deliberately not presented as a project for a wider range of interested parties, but as highly premium housing. Luxury breathes on the residents as soon as they enter. “The lobby is entered through a revolving door. Inside, you find a gentleman in a jacket who will show you into the building, which should resemble a hotel style. There will be an electronic turnstile installed there. It will close after 10 p.m., but will open for you as the owner,” explained Peter Marhula, CEO at VSD Development, to the Slovak online blog YIM.BA. The residents (for instance businessmen) will be able to plan and organize meetings in the premises adjacent to the lobby.

The beautiful apartments, of which there will be 90, are already to welcome their demanding residents this year. The two to four-room residences are designed in three variants of colours and materials used. But the real hidden treasure is the maisonette apartment situated on the 15th and 16th floor with a perfect view of the historic centre of the capital and even the Bratislava Castle. The largest and most luxurious apartment is, nevertheless, the 700 sq m penthouse on the top floor.

Equipment for maximum comfort 

The demanding character of the housing unit solutions corresponds with the demanding clientele. Desired comfort is created by connecting high-quality design, equipment and technology. And it is the technologies that the apartments and the whole house are really loaded with. Ceiling cooling, floor heating, heat recovery, electric shading and in the best apartments even their private internal lift.

The technologies themselves would not be enough if their operation was difficult and complicated for the residents. The developer also kept that in mind and decided to upgrade the intelligent system. The functions of the apartment are largely controlled automatically. Control elements are minimal and do not detract from the refined design. The residents can get by with only one stylish button in each room, or else, they have an overview of the household in one mobile application. 

Automatic fixscreens will prevent overheating and secure privacy 

The interesting feature of the building is the different structural heights of the floors, which range from 2.6 to 3.5 m. The combination with large glazed surfaces looks perfect, but can cause overheating of the interiors. That is why the developer opted for so-called fixscreens, external wind tight shutters that fit the glazed facades perfectly. Despite the shading, they let in enough daylight and at the same prevent one to see in through them. 

Fixscreens represent a good example of how technology can be further improved by its smart automation. The shutters will be self-operated, always according to the current internal temperature. In the summer, they will effectively prevent overheating, in the winter, on the contrary, they will not prevent the heat gain from the glazed surfaces to heat the interior favourably. The shutters close automatically at the desired hour in order to prevent nosy parkers from looking into the lit rooms.

Smart apartments as standard

The apartments will be fitted with automatic shading and other smart functions at their base level and these will be secured by the Loxone system. The rooms will self-regulate the temperature according to their residents’ requirements through the aforementioned shutters and, above all, automatic floor heating. The investor did not have to buy additional temperature sensors, because the internal climate, including humidity, is measured by the aforementioned button (so-called touch) with a built-in sensor.

The unobtrusive presence sensors on the ceiling allowed for lighting automation. Safety functions have also been added to eliminate damage in the event of accidents. A water leak, for instance from a washing machine, is recognized by the water leak detector and the owner receives an immediate notification wherever he is. 

And the remote access from the application is yet another essential benefit. Having your own property ‘in your pocket’ when at work or on holiday is even more important when it comes to luxury apartments. All you need is one application instead of having several different ones for heating, lights, shading… Everything is clearly laid out in one place. Indeed, Loxone is based on connecting individual technologies.

The added value for the developer also pleased Peter Marhula. “In order to satisfy the requirements of the most demanding clients, it is necessary to ensure a high level of living comfort. Liget is therefore technologically loaded and outstrips other competitors in Bratislava. Intelligent wiring ensures practically autonomous operation of the apartment unit – automation is superior to manual functions,” explains the CEO at VSD Development. The Loxone system can be expanded with additional technologies and functions according to the owners’ requirements at any time.

Smart residence with Loxone 

What developers mostly appreciate is the fact that the smart system increases the value and attractiveness of the entire project. Automated buildings provide tenants with inimitable comfort. Thanks to smart energy management, the building achieves essential operational savings. The above-standard building protection is also important. The developer can reduce the initial investment by replacing the individual control systems with one universal one, which also controls

Pavel Lískovec, Loxone, Branch Manager CZ

Premium properties resist market volatility

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Unique locations, exclusivity and specific architecture – these are the factors that belong, according to Marek Unčovský from Avant Financial Group, among the most important in terms of development. 

Together we talked about the investment portfolio focused on premium real estate and the activities and opportunities the group pursues in the market.

Your group focuses, among other things, on investments in the development of premium real estate. Why do you think it is worth investing in such properties? 

The charm of premium real estate lies primarily in their resistance to market volatility. An exceptional project simply always finds its buyer. After all, we were able to see that for ourselves many times in history – unlike other commodities, the value of premium real estate resisted market fluctuations significantly better. The uniqueness of the project, which is usually characterized by a specific location, connection to its character, distinctive architecture and privacy, is also important to us.

Which specific development projects are you currently working on?  

We invest in real estate through the Nemomax qualified investors’ fund (Nemomax investment fund with variable capital, a. s.), which has focused on investing in the development of premium real estate since 2017. At the end of July this year, the value of their assets reached CZK 892 million and is building a very respectable portfolio. The fund’s successful projects include, for instance, the reconstructed First Republic villa Rokoska located at the foot of the slope above Troja, Prague. They have also built modern apartment buildings within the VIVA Vrchlabí project. As for the upcoming projects, I would like to mention the Na Karmeli Residence, which will offer, in the future, premium apartments in the middle of the historic centre of Mladá Boleslav. The newest project that is being prepared is the VIVA Lipno project situated on the bank of a popular South Bohemian dam, which is undergoing preparatory work and obtaining necessary documentation. It combines exclusivity, a unique location, unique architecture and privacy. It is also exceptional for blending in with the surrounding nature, as the individual objects were designed to evoke the natural part of the surrounding forest cover and to be environmentally friendly and energy efficient. 

Apart from development, you are also engaged in financial services. Who are they aimed at?  

The investment company AVANT, which has had a strong name in the market for the past 17 years has been included in our portfolio since 2021. The company specializes in the establishment, management and administration of funds of qualified investors. We provide experienced investors with interesting investment opportunities, for instance in sectors such as the development of residences and commercial real estate, logistics and industrial sites. And it is thanks to the activities of the investment company AVANT that we have gained valuable know-how on how to connect the investment and business sectors. Now, we intend to use this experience within the holding company Avant Financial Group.  

What in particular do you offer? 

We help entrepreneurs in different ways. First of all, we offer them equity financing, or buying out their project. Our third service is strategic management and acquisition of strategic partners. That helps projects that thematically do not fall into our area of focus, but we still see growth potential in them. We will evaluate the opportunity and connect these entrepreneurs with investors or other partners from within the AVANT ecosystem who will help them develop their company. We provide our clients with strategic management in such fundamental projects. 

I see your group is doing well despite the recession. What economic results does it achieve?  

At Avant Financial Group, we maintain stable growth. Over the past year, we managed to achieve a profit of CZK 110 million and increase our capital to CZK 328 million. The assets of our group reached the threshold of CZK 1.35 billion. The growth of Avant Financial Group is based on a set strategy that we have followed since the company was founded – to focus on premium and unique projects with growth potential. Despite the current macroeconomic situation, we see that we have chosen the right direction and we are glad that our investors and partners trust us in this regard. 

International Group ANTRACIT strengthens its position, taking on more projects

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The portfolio of the ANTRACIT Development Group ranges from logistics and manufacturing to administrative projects in the Czech Republic and Slovakia, which it develops on its own land.

Continued revitalization of the Ostrava centre

The residential and office project Multifunction House VÁCLAV will be built in the historical centre of Ostrava. Rescue archaeological research is currently underway, and construction will begin in 2024. Another project is ANTRACIT Lívia comprising smart wooden houses built in the District of Moravská Ostrava and Přívoz. Finally, from September 2023, the visitors will have a chance to use the ANTRACIT PorubkaPoint known as a HANGAR Ostrava climbing centre.

A future for brownfields

The ANTRACIT Pilsen brownfield project (rental and warehouse premises) is underway near the main Pilsen railway station. Reconstruction and construction work will start in 2024. Another project, ANTRACIT Ústí nad Labem brownfield area will offer a total of eight premises intended for manufacturing, warehousing, and/or offices. The complex is currently being revitalized.

Development boom in Slovakia

The ANTRACIT Spot project in Žilina will be handed over to a gymnastics and parkour academy for children and teens at the end of January 2024. For the second stage of the ANTRACIT Senec project, with an area of 20,000 sqm, documentation for EIA and zoning proceedings is being finalised, and construction will start at the end of 2024. The project ANTRACIT Prešov is in its final stage of being connected to the underground utilities. The premises are suitable for warehouses, showrooms, and/or shops. 

Individual client solutions

“The ANTRACIT Spot and ANTRACIT PorubkaPoint projects are good examples of our ability to provide complete development services, from finding an appropriate site to the actual construction and maintenance of the building or facility,” says Tomáš Kosa, CEO of the ANTRACIT Development Group. 

More at www.antracitproperty.eu

Residential complex Bohdalec Quartet

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JRD has long been one of the leading developers in the field of sustainable construction and approach to healthy and ecological housing. 

One of their most recently implemented projects is the residential complex Bohdalec Quartet in U Plynárny Street in Michle, Prague, offering 183 residential units. As is a good practice when it comes to JRD, we can find the latest technologies from the TZB field, guaranteeing healthy and ecological operation of the entire facility, in the Bohdalec Quartet residential complex as well.  

JRD puts emphasis on healthy housing and the related healthy indoor environment, which is already legislatively prescribed in terms of ventilation of living quarters, for instance ČSN 15665/Z1. The central air-conditioning system, which uses roof-mounted central units with integrated noise dampers in connection with intelligent variable flow regulators, so called SMART boxes, was designed for this project in cooperation with ATREA, a long-term partner of JRD in the area of design and implementation of apartment buildings with regards to air-conditioning equipment with heat recovery.

The main asset of the air-conditioning units installed at the Bohdalec Quartet residential complex is already evident from their name – DUPLEX Silent. The low noise level of these ventilation units is absolutely essential, both due to the acoustic power emitted by the casing into the surroundings as well as the acoustic power radiated into the air-conditioning pipeline. With regards to its design, the latter one is already solved within the unit. This eliminates the complex way of fitting large silencers into the pipe distribution, where it is often limited by space options. Variable air flow regulators (VAV regulators), which monitor the correct amount of ventilated air in individual housing units, represent an indispensable part of the entire air-conditioning system. The high technological standard of JRD also uses air quality sensors in this system, which monitor the correct concentration of CO2 in the apartments and thus guarantee their residents an undisturbed stay in a healthy environment without the need for intervention.  

Our services increase the value of real estate

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The team of the Savills office in Prague offers comprehensive services in the field of commercial real estate and helps clients with their decision making and strategies on a daily basis.

The Property Management Department offers a wide range of activities, from consulting and marketing strategies and management of all types of real estate to financial reporting, regular maintenance and hiring of employees. Ing. Igor Gacek, Head of Property Management, told us more about it. 

Savills manages all types of real estate, from administrative buildings to multi-functional projects and shopping centres. Which of these segments forms the basis of your portfolio? 

Savills currently manages about 700 000 sq m of commercial premises. The majority of them are logistics and administrative buildings, each with a share of approximately 35%. The others are multifunctional buildings with retail and administrative premises located within the building. The remaining over 10% comprises ‘all the other’ premises, that is production premises, showrooms, residential buildings and independent retail. We manage a wide spectrum of buildings for various clients – from foreign funds to domestic funds to private investors or owners.

Do you focus on providing services in individual buildings or in entire portfolios? 

Savills is open to all clients and we approach each property individually. When it comes to portfolios, it is a matter of course to set uniform processes according to clients’ requirements. So, it is a combination of both. 

Do you focus on a long-term strategy, or rather on specific services and industry-focused consulting? 

We look at the buildings through the owner’s lens and are a kind of oilcan within the owner – tenants or suppliers mechanism. The benefit of the services provided by Savills lies not only in the high-quality management of the entrusted real estate, but also in the fact that we try to increase its value with our services, either by increasing the yield or by efficient management and setting up services in order to suit each and individual property. The advantage of the company is the ability to provide comprehensive services, not just administration. We provide project management, ESG services, which are becoming more and more important in the real estate world, valuations and investments. Having a reliable partner of a high professional level, who would be able to provide all these services, is important to all clients. 

What is happening to the industrial land market?

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Changes in energy strategy are unexpectedly reflected in real estate, which is why renewable energy investors have become interested in vacant land again.

They share the market with only those industrial developers who have secured non-bank financing. This is because players in the market without this strength are discouraged from investing in land by the challenging economic situation.

The rise in interest rates last year slowed down investments by some industrial developers in buying new sites. On the other hand, P3 Logistic Parks, thanks to the backing of its shareholder, plans to buy tens of thousands of square meters of space in the Czech Republic this year. 

P3 is particularly looking for sites with a designation for light production and logistics use, which are easily accessible by transport. The developer is ready to buy land for future construction, and also existing buildings that are either vacant or occupied by tenants. 

The drive for energy self-sufficiency and the demand for warehouses and production halls complement each other and are not in competition. For example, industrial developers are already preparing the roofs of buildings to be fitted with solar panels, so it can be said that a win-win solution is possible.

Three questions for the P3

Industrial developer P3 Logistic Parks is investing in new properties and is interested in acquiring land and existing parks in attractive locations. 

This year, the company plans to expand its Czech portfolio by tens of thousands of square metres. Ondřej Vodička, who is in charge of acquisitions at P3, reveals further plans.

Shortage of storage space has been an issue in the Czech Republic for several years. Additionally, we are also dealing with high inflation. Why is P3 going to buy now?

We manage 87 warehouses in 16 parks in the Czech Republic and their occupancy rate is more than 97%. We are currently building in three parks, and we still have 177,000 sq m of space in two of them. We simply need more new sites for our further development. While much of the market is slowing down under the weight of challenges in securing bank finance, P3 is ready to invest and can afford to, thanks to our financially strong shareholder. 

What types of properties are you interested in? For plots of land or for entire industrial parks?

We are ready to buy not only land for future development, but also existing buildings – either empty or occupied. This is an opportunity for owners who want to access their capital which is currently tied up in real estate, by releasing it in a sale & leaseback transaction. We’re focused on plots of around 50,000 sq m, or at least 30,000 sq m in the case of Brno and Prague. According to the zoning plan, they must have a designation for light production and logistics use. We are not only interested in land with good quality soil, so brownfield sites are also an option for us. 

What is the key to site selection?

Accessibility is crucial, both in terms of employment and especially transport. Equally, our parks are close to motorways and expressways, so proximity to transport networks is key. Traditionally, the greatest interest in industrial parks is in the vicinity of large cities, which is why we are definitely looking at Prague and Brno, but also South Bohemia and, in future, regions in the Karlovy Vary Region may also be interesting. Generally speaking, we invest where the opportunities are.