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Nemo takes over Nestlé HQ

Nathan North 20 May 2020

Nathan North

Deputy editor

+48 22 356 25 22

Nathan is responsible for the English section of the magazine. Nathan was born in Manchester in the UK and completed a master’s degree in philosophy at the University of London. As well being responsible for editing the English section of ‘Eurobuild CEE’ magazine, he also contributes news from around Central Europe and articles on the investment and industrial markets and on architecture. In his free time he likes playing piano, drawing and cooking.

Nemo takes over Nestlé HQ
Mezi Vodami 31 contains around 10,000 sqm of useable space

CZECH REPUBLIC The Nemo real estate fund has acquired the Mezi Vodami 31 office building in Modřany in Prague 12.

The 10,000 sqm building houses the head office of Nestlé in the Czech Republic. It was developed for Nestlé on the site of the former Orion chocolate factory in 2006 by Sekyra, which sold the property to CPI Property Group in 2010 for CZK 651 mln (EUR 22 mln). CPI later sold the building for an undisclosed sum to Českomoravská Nemovitostní (ČMN) in 2018. ČMN is also the founder of the Nemo fund, which is managed by Liechtenstein-based Independent Fund Management (IFM). The fund is focused on Czech assets that have long-term sustainable rental income potential. The addition of Mezi Vodami 31 to the fund brings its value up to CZK 1.3 bln (app. EUR 47.37 mln).

“Our fund prioritises the quality of owned properties over their quantity. The goal is to have a highly diversified portfolio of quality premium real estate occupied by creditworthy tenants with whom long-term leases have been concluded. A modern office building like Mezi Vodami 31, where a new long-term contract has been signed, fits perfectly into the fund’s strategy,” comments Josef Eim, the vice-chairman of ČMN.

Mezi Vodami 31 is a glass U-shaped building with five above-ground and two underground floors.

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