Reico acquires M&S building on Wenceslas Sq

Another local buyers has snapped up a primish-looking building in Prague. Reico has announced that it purchased the building Marks & Spencer occupies on Wenceslas Square for a price that reflects a 7 or thereabouts yield. Reico reports that M&S leases 3,500 sqm of the 10,000 sqm building.

We won’t really know for a year or two whether these local investors have pulled a quick one on their foreign competitors — in other words, if the prices they’re paying make sense. There are still substantial risks involved in such transactions at the moment, including the fact that many retailers are reconsidering their overall strategies, and M&S has been known to pull out of locations in Prague before…


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