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…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s