3Things: Port7 leasing, Coloseum listed, and the bridge crisis

Published: 20. 07. 2022

Port7 one-third leased
Skanska has completed the superstructure at its Prague 7 – Holešovice project Port7. Crucially, the company claims that with less than a year to go before completion, roughly one-third of the 35,800 sqm of office and retail space has already been leased. Designed by the DAM.Architekti studio, the three buildings now under construction will be served by two floors of underground parking, along with multiple modes of public transportation. Future tenants include Klinika Oční, Direct and ScottWeber Workspace. Completion is planned for Q2 2023.

Coloseum listing served tepid
The pizzeria network Coloseum Holding finally managed to go public this week. Having put 425,000 existing and new shares on sale for CZK 246 and CZK 304 each, it ended up selling just 162,000 of them for CZK 246. The lukewarm demand for reflects uncertainty surrounding the entire F&B sector following two years of pandemic devastation. The Coloseum sold the shares on Prague’s alternative Start bourse. The sold shares represent 18.8% of the company, which intends to use the CZK 212 million it raised to pay down its debts and build Caffe Pascucci branded coffee shops. Founder Jan Mužátko now owns 66.6% of the company, while Wood & Co.’s share diluted to just 15.6%. The group owns nine restaurants, the food wholesaler Pragogastro, Občanska plovárna in Prague and Pivovar Národní.

Troubled bridges over water
Official statistics list 3,329 of the 18,000 bridges in the Czech Republic as being in “poor” or “disastrous” condition. Measured on a scale of 1 to 7, 62 of them get the worst possible ranking (7). The daily Pravo writes that four years ago, around 100 got a ‘7’ ranking, so things are slowly improving. “Each year, around 70 bridges are repaired,” ŘSD’s spokesman told the newspaper (ŘSD builds and maintains Czechia’s highways and motorways). The weirdest aspect for many of the smaller bridges is that not only are they in poor condition, but there’s not even any agreement on who owns them. The collapse of the Troja footbridge in 2017 revealed the shocking state of bridges in the Czech Republic. The scandal resulted in a huge rush of inspections and investments. In Prague alone, the Liben bridge and the Barrandov bridge are undergoing massive, multi-year reconstruction projects.

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