Orco holds groundbreaking ceremony of Radio Free Europe project today at 13:00 CET. Delivery of the project is expected within 2 and 1/2 years.
Our view:
Radio Free Europe is one of leading Orco’s projects in Prague and concerns development of new headquarters with 15-year lease of 22,000 sqm and an option to extend the lease for another 30 years. Annual rental is set at USD 5.4m or EUR 20.5/sqm/month what is over 20% more than regular rent in class-A properties in Prague.