Orco Property Group has bought the administrative building Skoda Palace in the sixth district of Prague from an undisclosed foreign investor, and plans to reconstruct the entire property as A Class office space. Skoda Palace is an administrative building dating back to 1991, which is currently occupied by the Skoda company. Total area of the building is approximately 14,000 m[sup]2[/sup]. The investment is estimated at EUR 19 mln and was partially financed by a bank loan.
Orco Property Group has bought the administrative building Skoda Palace in the sixth district of Prague from an undisclosed foreign investor, and plans to reconstruct the entire property as A Class office space. Skoda Palace is an administrative building dating back to 1991, which is currently occupied by the Skoda company. Total area of the building is approximately 14,000 m2. The investment is estimated at EUR 19 mln and was partially financed by a bank loan.
