Avenium Residence, Prague, Czech Republic

Details last updated/reviewed Project Status:  Released : February 2009

Development Details

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• 20% capital growth predicted.
• Best location within Holešovice, one of the fastest growing areas in Prague.

Holesovice, Prague 7 area is a one-off area in Prague. It is near the centre and unlike some other sprawling areas for redevelopment, Prague 7 is being completely redeveloped...much of the work will be completed within 2 years and virtually all by 2012. This whole project has been masterminded and is being scrutinised by Prague's major and the potential for the area is vast. It is at a very early stage of it's development cycle and presents a classic investment opportunity.

Avenium Residence is an excellent investment opportunity in the fastest growing area of Prague 7 – Holešovice. The Prague property market is growing rapidly and Prague 7 is likely to see some of the highest growth rates in the city over the next couple of years. A huge regeneration effort is turning this area into a new business district; it is also located right next to the city centre and a wide range of local amenities, such as the luxury Prague Marina on the Vltava River water front.

The Avenium Residence development is located on the left bank of the Vltava River, next to Libeňský Most Bridge, only a five-minute drive from the established business district of Karlin.

One of the key features of this development is that it is situated right next to one of the biggest residential and commercial developments in Prague; the J&T Tower City development, which will offer 95,000 square metres of floor space on 40 storeys.

The Lighthouse Tower office block, which was completed in 2004, is also located two blocks away from Avenium Residence.

As a result, this relatively small, 125-unit development will attract well-paid professionals, such as mid-level managers and foreigners looking to live in a fast-growing business and commercial area.

The two biggest shopping malls in Prague, The Shopping Centre Letňany and Centrum Černý Most are also only a few minutes’ drive away.

Apart from the park on Ortenovo Square, a few blocks to the north-west that boasts a children’s playground, one of biggest parks in Prague, Stromovka, is only a few minutes from Avenium Residence.

Holešovice can be compared to Shoreditch in London, although it is actually much closer to the city centre at just 2.5 kilometres. Like Shoreditch, Holešovice is fast becoming not only the new business district of Prague but also the funky place for Prague’s young and hip.