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Prague, 17th December 2013 – The Capital Markets team of Jones Lang LaSalle has advised CBRE Global Investors on the successful sale of Tančící dům, also commonly referred to as the ’Dancing Building’ or ‘Fred and Ginger’, located on the bank of the River Vltava in central Prague. The iconic building designed by Frank Gehry and Vlado Milunic, was purchased by Mr Václav Skala, a well-known real estate investor and art collector, for a consideration of CZK 360m.
The property is located in central Prague and comprises approximately 4,000 sqm of office and retail space. CBRE Global Investors CEE will remain as one of the tenants.
Stuart Jordan, Head of Capital Markets Czech Republic at Jones Lang LaSalle commented: “The competitive disposal process of one the most iconic buildings in Central Europe, if not Europe as a whole, cements the fact that iconic commercial buildings with rich architectural heritage will always generate an extraordinary interest level against more standard commercial stock.”
Commenting on the transaction, Martin Sabelko, Managing Director of CBRE Global Investors CEE said: “We are very pleased with the sale of the Dancing Building as it clearly demonstrates the liquidity of our assets. The Dancing Building is a modern and well-located building, qualities that we as a business recognise and hence why CBRE Global Investors CEE has chosen to remain as a tenant after the change of ownership.”
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