PRESS RELEASES
8.4.2010 - Red Group Completes Re-leasing of Nagano Park
Red Group has managed to successfully conclude enegotiations with existing tenants for prolonging their leases in Nagano Park. Occupancy of the 26,000 m2 Nagano
Park in Prague 3 exceeds 90%. The area's advanced telecommunications infrastructure and the presence of a data centre on site attract mainly high-tech occupiers. The telecommunications sector accounts for the highest proportion of take up in Nagano Park with over 15,000 m2 (60 %).
“In the tenant favoured market of today and a general slump in office demand, the ability to retain our tenants is a clear sign of the occupiers’ satisfaction with the Nagano premises,” said Seth Marks, Head of Leasing in Red Group. “Nagano Park, a veteran of the Prague office market, represents a proven formula of representative and cost effective office solutions with high standard technical attributes.” Over the last nine months a combination of lease renegotiations, including fixed term prolongation and expansion totaling 12,673 m2 of offices and data centre have been agreed with Nagano tenants. In addition Red Group has leased a further 1,350 m2 of office space to the harmaceutical company Sandoz. The development benefits from its long-established presence in the commercial part of Prague 3, which will in the upcoming years experience further significant residential and commercial development.
Park in Prague 3 exceeds 90%. The area's advanced telecommunications infrastructure and the presence of a data centre on site attract mainly high-tech occupiers. The telecommunications sector accounts for the highest proportion of take up in Nagano Park with over 15,000 m2 (60 %).
“In the tenant favoured market of today and a general slump in office demand, the ability to retain our tenants is a clear sign of the occupiers’ satisfaction with the Nagano premises,” said Seth Marks, Head of Leasing in Red Group. “Nagano Park, a veteran of the Prague office market, represents a proven formula of representative and cost effective office solutions with high standard technical attributes.” Over the last nine months a combination of lease renegotiations, including fixed term prolongation and expansion totaling 12,673 m2 of offices and data centre have been agreed with Nagano tenants. In addition Red Group has leased a further 1,350 m2 of office space to the harmaceutical company Sandoz. The development benefits from its long-established presence in the commercial part of Prague 3, which will in the upcoming years experience further significant residential and commercial development.
3.3.2010 - Residence Hermitage Defies Recession in Residential Market
Within 12 months of launching sales, all 22 flats in Residence Hermitage have been sold. Red Group’s first residential development was a high-end CZK 245 mln reconstruction of an Art Noveau property, formerly a printing house, located on the corner of Svobodova and Na Děkance streets in Prague 2. The same building is also home to the four-star Park Inn Prague hotel and a Tesco Expres convenience store. Sales prices maintained their pre-crisis value.
“Given the difficult economic climate, the past year was challenging for the local residential market, but we remained confident about the success of our project. A unique location, the historic character of the property and the benefits of added-value services associated with a modern hotel next door proved to be a successful mix of attributes,” said Seth Marks, Head of Sales and Leasing in Red Group.
Flat sizes in Residence Hermitage range from 2-room flats to a large 6-room penthouse, varying in size from 55 sqm to 220 sqm. Prices started at approximately CZK 79,000/m2, including parking, storage and a kitchen with appliances. Most flats include either a balcony or terrace and first floor units have direct access to private gardens. The majority of flats have been handed over to the new owners and the first residents have already moved in. The property is located in the immediate neighbourhood of the Vyšehrad Cathedral and Emauzy Monastery. It is easily accessible, with first rate public transport connections to the centre of Prague.
“Given the difficult economic climate, the past year was challenging for the local residential market, but we remained confident about the success of our project. A unique location, the historic character of the property and the benefits of added-value services associated with a modern hotel next door proved to be a successful mix of attributes,” said Seth Marks, Head of Sales and Leasing in Red Group.
Flat sizes in Residence Hermitage range from 2-room flats to a large 6-room penthouse, varying in size from 55 sqm to 220 sqm. Prices started at approximately CZK 79,000/m2, including parking, storage and a kitchen with appliances. Most flats include either a balcony or terrace and first floor units have direct access to private gardens. The majority of flats have been handed over to the new owners and the first residents have already moved in. The property is located in the immediate neighbourhood of the Vyšehrad Cathedral and Emauzy Monastery. It is easily accessible, with first rate public transport connections to the centre of Prague.
10.12.2009 - Red Group Appoints New Managing Director
Investor and property developer Red Group is pleased to announce the appointment of Charles Peake (47) to the position of Managing Director. Charles will strengthen the existing management team of founding director Barry Cullen, Frank Nourse, Financial Director, Richard Ness, Investment Director and Colin Glover, Development Director.
4.8.2009 - Park Inn Ostrava Celebrates Successful First Year
Since its launch almost one year ago Park Inn Ostrava has become the city’s leading hotel destination and reports growing demand for accommodation and conference facilities. Despite the difficult market conditions, the monthly occupancy reaches 60%, with July being the best month so far. Czech guests remain the strongest client group, but overall visitors from abroad now represent nearly two thirds of the hotel’s clientele, with 32 different nationalities to date.
8.4.2009 - Residence Hermitage Creates Desirable Living in Vyšehrad
Prague, 8th April, 2009 - The investor and developer Red Group has entered the Prague residential market for the first time with 22 luxury apartments created in a historic property in Prague 2, near Vyšehrad. The newly completed high quality reconstruction of an Art Noveau property, formerly a printing house, is located on the corner of Svobodova and Na Děkance streets and is also home to the recently opened four-star Park Inn Prague hotel. This exclusive residential project - Residence Hermitage - is aimed at a customer base seeking modern living, but within a historic district of Prague.
"Currently two thirds of the flats in Residence Hermitage are sold and will be handed-over to their new owners next month. A unique location, historic character of the property and the benefits of added-value services associated with a modern hotel next door proved to be a successful mix of attributes, which shows that there is an existing healthy demand for unique projects on the market.” said Seth Marks, Head of Sales & Leasing in Red Group. Designed by Prague-based award winning architects Iain Bryan, the 22 apartments, including two luxury penthouses, boast of high ceilings and large windows and maintain a historic ambience throughout. Arranged over five floors of the property, most flats include either a balcony or terrace and first floor units have direct access to private gardens.
Prices start at approximately CZK 5,000,000 and include parking, storage and a kitchen with appliances. Sizes range from 2-room flats to large 6-room penthouses, varying in size from 55 sqm to 220 sqm. Potential buyers have the opportunity to view standards on site.
"Currently two thirds of the flats in Residence Hermitage are sold and will be handed-over to their new owners next month. A unique location, historic character of the property and the benefits of added-value services associated with a modern hotel next door proved to be a successful mix of attributes, which shows that there is an existing healthy demand for unique projects on the market.” said Seth Marks, Head of Sales & Leasing in Red Group. Designed by Prague-based award winning architects Iain Bryan, the 22 apartments, including two luxury penthouses, boast of high ceilings and large windows and maintain a historic ambience throughout. Arranged over five floors of the property, most flats include either a balcony or terrace and first floor units have direct access to private gardens.
Prices start at approximately CZK 5,000,000 and include parking, storage and a kitchen with appliances. Sizes range from 2-room flats to large 6-room penthouses, varying in size from 55 sqm to 220 sqm. Potential buyers have the opportunity to view standards on site.
30.3.2009 - Restored Printing House Unveils a New Four Star Hotel
Red Group completed conversion of a historic landmark building in Prague 2 into a four star Park Inn Prague hotel, facilitating the Prague premier of the Park Inn brand. The CZK 700 million reconstruction of the former printing house dating back to 1907 took a little over one year and follows up on previous cooperation between the hotel brand operator The Rezidor Hotel Group and the Irish developer. Last year Rezidor launched the Park Inn brand on the Czech market with Park Inn Ostrava, adding another strong-performer to their well-established Radisson Blu Prague hotel.
24.3.2009 - The Orchard Emerging as Ostrava’s New Financial Centre
Red Group has signed new lease agreements with two leading Czech financial institutions for Ostrava’s major new office development – The Orchard. The new tenants - Komerční Banka and Česká Spořitelna -will take occupation of a substantial part of the 12,000 sqm A-Class office building, which is the last of the three Orchard buildings on Hornopolni street.
3.9.2008 - The Orchard Offices in Ostrava in Demand
Ostrava, 3rd September, 2008 – Two months after opening the second phase of The Orchard office complex on Hornopolní street in Ostrava, the investor and developer Red Group has
signed lease contracts for nearly half of the 12,000 sqm five-storey office building. The successful letting progress on the first two Orchard buildings confirmed the investor’s
expectations for strong demand for high quality office space and services in the Ostrava region. Remaining space in the building is currently under negotiations with potential
tenants.
signed lease contracts for nearly half of the 12,000 sqm five-storey office building. The successful letting progress on the first two Orchard buildings confirmed the investor’s
expectations for strong demand for high quality office space and services in the Ostrava region. Remaining space in the building is currently under negotiations with potential
tenants.
14.7.2008 - Relocation of Walter Engines Ushers in New Era in Prague 5 Development
Property developer Red Group announced the successful relocation of tenant Walter Engines to new industrial facilities in Letnany in Prague 9 and the historical Waltrovka site in Jinonice is now ready for a massive redevelopment into a mixed use area. The 20-hectare site in Prague 5 should become one of the most exciting mixed-use developments in the city. Walter Engines moves to new 20,000 sqm industrial space at Letov Industrial Estate on a long-term lease with Red Group. U.S. aircraft engine manufacturer General Electrics Aviation purchased the assets of Walter Engines in August last year.
2.7.2008 - Second Phase of The Orchard Complex Succeeds Fully Leased Building 1
Construction of the 12,000 sqm five-storey office building of The Orchard complex on Hornopolní street in Ostrava has been completed, and the developer Red Group opened the doors of the second phase to new tenants. After the first building achieved fully leased status, opening the second building marks another successful milestone in the Ostrava development.
13.11.2007 - Red Group and Radisson To Create New Destination
Red Group has signed a third management agreement with The Rezidor Hotel Group that will operate the Radisson brand in a stunning historical building in the centre of Brno. Radisson Brno will reawaken the past glory of an original hotel building, currently known as Palác Padowetz. In addition to Red Group’s current hotel projects in Prague (Park Inn Prague), Ostrava (Park Inn Ostrava) and Brno (Radisson Brno), the company is actively pursuing further sites in regional cities with the intention to develop over 1,000 new hotel rooms for the Park Inn and Radisson brands over the next 2-3 years.
30.5.2007 - Topping-off Ceremony Marks a Milestone In The Orchard Construction
Four months after breaking ground on the first building of the Orchard complex in Ostrava, a topping-off ceremony marks the halfway point in the construction of the 12,000 m2 of offices that will be available to tenants from the beginning of October.
7.2.2007 - The Orchard Office and Hotel Complex Will Grow in 2007
Property development company Red Group has launched construction of The Orchard office and hotel complex that will, by the end of this year, transform the former rundown site on Hornopolni street in the centre of Ostrava into a modern and vibrant working and living environment.
News
1.8.2011 - Q5 Waltrovka Offices - LEED Gold standard
We are pleased to announce that Phase 1 of Q5 Waltrovka Offices has been precertified to LEED Gold standard.
LEED (Leadership in Energy & Environmental Design) is an internationally recognized certification system for buildings. The aim of the certification is to objectively distinguish buildings that correspond to modern standards of environmental protection such as energy efficiency, recycling & waste management initiatives and the use of environmentally friendly materials.
This precertification formally recognizes that Q5 Waltrovka Offices has committed to incorporating globally recognised green features that will ensure comfort and efficiency for end occupiers.
24.5.2011 - New Management Team at Red Group
After a period of consolidation and restructuring, investor and developer Red Group has entered an exciting new phase in its development. An entirely new management structure has been put in place to strengthen and drive forward Red Group’s activities.
Heading the team, Richard Ness (37) has become the new Managing Director responsible for overall operations of the company. With over 14 years in the Czech property market and 9 years at Red Group, Richard has an intimate understanding of the Czech property market. „As the market returns we believe we are in an ideal position to take advantage of the opportunities which will arise,“ said Ness.
Yvetta Nekvasilová, an experienced architect, has been promoted to Development Director responsible for the planning and development of all future projects. Iain Fanthorpe and Seth Marks have also been appointed to Directors. Iain takes charge of investor relations and Red Group’s existing asset portfolio. Seth continues to head the Leasing and Sales Team with a strong focus of expanding Red Group‘s tenant base and overseeing client relations.
Red Group’s founder Barry Cullen remains in active strategic control whilst Frank Nourse, who remains a shareholder in the group, has set up his own new company Pierwood Capital (www.pierwoodcapital.com).
9.5.2010 - Red Group Relay Team in the 16th Volkswagen Prague Marathon
Red Group entered this year’s 16th Volkswagen Prague Marathon with a four-person corporate relay team and in a combined effort covered the full marathon's 42.195 kilometers. This year’s running event that took place on Sunday, 9th May attracted 308 corporate teams. Red Group runners managed to finish the four relay legs in 3 hours 31 minutes, placing a very respectable 85th place.
8.4.2010 - Red Group Completes Re-leasing of Nagano Park
Red Group has managed to successfully conclude renegotiations with existing tenants for prolonging their leases in Nagano Park. Occupancy of the 26,000 m2 Nagano Park in Prague 3 exceeds 90%. The area's advanced telecommunications infrastructure and the presence of a data centre on site attract mainly high-tech occupiers. The telecommunications sector accounts for the highest proportion of take up in Nagano Park with over 15,000 m2 (60 %). Over the last nine months a combination of lease renegotiations, including fixed term prolongation and expansion totaling 12,673 m2 of offices and data centre have been agreed with Nagano tenants. In addition Red Group has leased a further 1,350 m2 of office space to the pharmaceutical company Sandoz.
3.3.2010 - Residence Hermitage Defies Recession in Residential Market
Within 12 months of launching sales, all 22 flats in Residence Hermitage have been sold. Red Group’s first residential development was a high-end CZK 245 mln reconstruction of an Art Noveau property, formerly a printing house, located on the corner of Svobodova and Na Děkance streets in Prague 2. The same building is also home to the four-star Park Inn Prague hotel and a Tesco Expres convenience store. Sales prices maintained their pre-crisis value.
16.12.2009 - Red Group Joined the Czech Green Building Council
Red Group has joined the Czech Green Building Council (CzGBC) as one of its founding partners. This nonprofit organization promotes energy-efficient and environmentally friendly buildings and strives to raise awareness of sustainable development. The Council is an associated member of the World Green Building Council. As one of the founding members of CZGBC, Red Group intents to remain appraised of latest developments in sustainable design and engineering and to utilize consultants experienced in the design and engineering of sustainable projects. Red Group finds important to consider the impact of sustainable development on its tenants/owners and more specifically on their day-to-day running costs. It is necessary to regard sustainable design and engineering within realistic commercial restraints on overall project feasibility and to realize the impact of sustainable development on the exit value of the company‘s investment products.
10.12.2009 - Red Group Appoints New Managing Director
Red Group is pleased to announce the appointment of Charles Peake (47) to the position of Managing Director. Charles will strengthen the existing management team of founding director Barry Cullen, Frank Nourse, Financial Director, Richard Ness, Investment Director and Colin Glover, Development Director. Charles Peake reinforces the management team and is responsible for business operations of the company, future project developments and driving forward financing requirements.
4.12.2009 - Children Afternoon with Mikuláš in Nagano Park
Nagano Park Office Complex organized in cooperation with Catering Melodie a traditional Mikuláš party for children and their parents. Parents enjoyed refreshments while children were rewarded with sweets handed out by Mikuláš, devil and angel. Photos from the event are available for viewing in section „About us“.
4.11.2009 - Tesco Expres – New Red Group Tenant
In November a new Tesco Expres convenience store is opening its doors, as a new Red Group tenant, in the Park Inn Prague hotel property in Prague 2. New owners residing in Residence Hermitage can now shop locally for every day essentials seven days a week from early morning until late night hours (6-22hrs).
10.9.2009 - Thirsty Thursday in RBG Restaurant
The real estate community was hosted by Red Group in the first post-summer Thirsty Thursday event. The social evening took place in RBG Bar & Grill restaurant in the Park Inn Prague hotel and was attended by nearly a hundred property agents and consultants. Guests enjoyed a buffet with RBG specialties, wine tasting and plenty of drinks. The evening was topped off with a prize draw for accommodation in Park Inn hotels and a free dinner for two in the RBG restaurant as winning prizes. RBG Bar & Grill is a new restaurant venue serving high quality steaks, gourmet burgers, grilled seafood and a variety of salads.
4.8.2009 - Park Inn Ostrava Celebrates Successful First Year
Since its launch almost one year ago Park Inn Ostrava has become the city’s leading hotel destination and reports growing demand for accommodation and conference facilities. Despite the difficult market conditions, the monthly occupancy reaches 60%, with July being the best month so far. Czech guests remain the strongest client group, but overall visitors from abroad now represent nearly two thirds of the hotel’s clientele, with 32 different nationalities to date.
9.7.2009 - Kindergarten Completed Reconstruction Thanks to Half a Million From Red Group
Children from the Čs. exil kindergarten in the Ostrava district of Poruba can now enjoy a newly completed relaxation zone, which includes a play area, ceramic workshop, infrasauna, and a music therapy room. The project designed to improve the school environment for children with special needs attending the kindergarten had to be postponed for a number of years until the CZK 500,000 donation was made by Red Group – developer and investor of the Park Inn Ostrava hotel. The cheque was handed over to headmaster Dana Schönová after a charity auction of a Park Inn-inspired designer dress by fashion designer Tatiana Kovaříková organized at the occasion of the Grand Opening of the Park Inn Ostrava hotel on 23rd October, 2008.
16.6.2009 - Park Inn Ostrava Hotel Wins 2 Prestigious Regional Awards: Stavba Moravskoslezského kraje 2008 and Dům roku 2008
Red Group, developer and investor of the four-star Park Inn Ostrava, is pleased to announce that its hotel project was selected as the „Best Building 2008 (Dům roku 2008) by a special committee appointed by the Ostrava city council. The committee acknowledged the following winning criteria: “improvement and cultivation of the formerly dilapidated location near the city centre, significant upgrade of the previously stagnating Ostrava hotel industry, and introduction of new international standards to the local environment. Furthermore, the superb architectural design and construction quality with a unique attention to detail.”
In addition the hotel was also chosen as the winner of its category (Stavba občanské vybavenosti) in the well established „Best Project of the Moravan-Silesian Region 2008“award competition (Stavba Moravskoslezského kraje 2008).
The two new awards follow up on the success from last year, when Park Inn Ostrava Won „Best CEE Hotel Development 2008“ awarded by Construction & Investment Journal (CiJ).
In addition the hotel was also chosen as the winner of its category (Stavba občanské vybavenosti) in the well established „Best Project of the Moravan-Silesian Region 2008“award competition (Stavba Moravskoslezského kraje 2008).
The two new awards follow up on the success from last year, when Park Inn Ostrava Won „Best CEE Hotel Development 2008“ awarded by Construction & Investment Journal (CiJ).
16.6.2009 - Honourable Mention for The Orchard
The Orchard office complex obtained the Honourable Mention Award in the 15th Annual „Best Building 2008“ (Dům Roku 2008) competition organized by The City of Ostrava. The committee awarded the Orchard for introducing a new standard for office environment in aesthetically and technically meticulous buildings, which significantly improve the surrounding location and together with the neighbouring Park Inn Ostrava hotel create a multifunctional centre residing next to a large housing complex.
4.6.2009 - The 3rd Annual Orchard & Park Inn Ostrava Golf Tournament
The 3rd Annual Orchard & Park Inn Ostrava Golf Tournament was held at the newly open Ostravice Golf Course. Nearly 50 golfers tackled the changing weather and challenging landscape of the golf course. Prizes (stableford scoring) were awarded in three categories: category 0-18 HCP was won by Richard Ness from Red Group, the first place in 18,1 – 36 HCP went to Petr Sondel from Interiér Říčany and the winner of 37 – 54 HCP was Michal Tepper from agency Sting. Aspiring golfers practiced basics of the game in a golf academy led by a former PGA player Adrian Hubert. Later on the golf day continued with a summer party in Bamboo restaurant in the Park Inn hotel, where guests enjoyed live music and a rich buffet.
21.5.2009 - Grand Opening of the New Park Inn Prague Hotel
The Rezidor Hotel Group, one of the largest hotel companies in the world, and Red Group, the investor and developer, officially opened a flagship hotel for the Park Inn brand and a signature restaurant RBG Bar & Grill. Keynote speakers of the evening included Frank Nourse, finance and legal director with developer Red Group, Jacques Dubois, the senior vice president and chief operating officer for the Rezidor Hotel Group, as well as current General Manager Miroslav Forejtek and the pre-opening General Manager Thomas Stene. The host for the event was Czech actor Jaroslav Plesl who presented some hotel history. The highlight was a performance by Petr Čadek and Tatiana Vilhelmová that was staged to offer an opportunity to show off some of the hotel premises. The hotel’s signature restaurant, RBG Bar & Grill led by Chef Milos Fojt, prepared a varied menu for the evening that offered a cold and warm buffet.
8.4.2009 - Residence Hermitage Creates Desirable Living in Vyšehrad
Red Group has entered the Prague residential market for the first time with 22 luxury apartments created in a historic property in Prague 2, near Vyšehrad. The newly completed high quality reconstruction of an Art Noveau property, formerly a printing house, is located on the corner of Svobodova and Na Děkance streets and is also home to the recently opened four-star Park Inn Prague hotel. This exclusive residential project - Residence Hermitage - is aimed at a customer base seeking modern living, but within a historic district of Prague. Prices start at approximately CZK 5,000,000 and include parking, storage and a kitchen with appliances. Sizes range from 2-room flats to large 6-room penthouses, varying in size from 55 sqm to 220 sqm. Currently two thirds of the flats in Residence Hermitage are sold and will be handed-over to their new owners next month. Potential buyers have the opportunity to view standards on site.
30.3.2009 - Restored Printing House Unveils a New Four Star Hotel
Conversion of a historic landmark building in Svobodova street 1 into a four star Park Inn Prague hotel has been completed. The hotel facilitating the Prague premier of the Park Inn brand. The CZK 700 million reconstruction of the former printing house dating back to 1907 took a little over one year and follows up on previous cooperation between the hotel brand operator The Rezidor Hotel Group and Red Group. Ideally located, close to the riverside and the UNESCO protected Vysehrad site, the new Park Inn Prague combines Art Noveau elegance and modern design, refined to create a pleasant hospitality experience. Featuring 210 rooms and suites, a number of them with balconies, landscaped courtyard garden, and a rooftop fitness facility, the property provides an enjoyable stay for business and leisure guests alike. Five meeting rooms with 400m2 of conference space and the hotel’s signature restaurant RBG Bar & Grill, complete the setting.
24.3.2009 - The Orchard Emerging as Ostrava’s New Financial Centre
Red Group has signed new lease agreements with two leading Czech financial institutions for Ostrava’s major new office development – The Orchard. The new tenants - Komerční Banka and Česká Spořitelna -will take occupation of a substantial part of the 12,000 sqm A-Class office building, which is the last of the three Orchard buildings on Hornopolni street.
“The Orchard has been selected as the preferred business address by companies that represent major players in the financial arena, which is great recognition of the quality and high standard of our project,” said Seth Marks, Head of Leasing at Red Group. Half of the current Orchard tenants represent companies from the financial sector, including HSBC, Immorent, Home Credit and Acctus Consulting. “Despite the current economic climate, Red Group has managed to sign lease agreements for over 6,000 sqm of offices since the beginning of the year,” said Marks. “The first building is now fully leased and only 20% of offices in the second building remain available.”
20.1.2009 - Residence Hermitage in top 10 residential projects of 2008
Residence Hermitage has been selected by the prestigious Estate magazine as one of the Top 10 Residential Projects of 2008. Real estate specialists acknowledged the high standard of living the project provides and appreciated the apparent outstanding quality of reconstruction. Access to services of the neighbouring four star Park Inn Prague hotel was considered a significant added value, setting apart from other projects.
13.11.2008 - Park Inn Ostrava Wins Best CEE Hotel Development 2008
The recently opened four-star Park Inn Ostrava won the regional award for the „Best CEE Hotel Development 2008“ awarded by Construction & Investment Journal (CiJ). In tight competition of 24 nominated hotels, the jury acknowledged excellent quality of the product as well as the positive impact Red Group’s hotel development is having on the city of Ostrava. Being the largest hotel bearing an international brand in the Moravian - Silesian region, Park Inn Ostrava offers a total of 185 guest rooms and suites and 6 meeting rooms, including a congress hall for 220 people.
23.10.2008 - Grand Opening of the Park Inn Ostrava Hotel
On Thursday, 23rd October, Red Group together with The Rezidor Hotel Group celebrated the opening of the hotel in grand style with an outdoor event for the public, featuring a concert of the band Krystof and fireworks. The evening party, complete with a fashion show, charity auction of a Park Inn- inspired designer dress, and appearances from heroes from the Beijing Olympics, was enjoyed by well over 300 guests. The Park Inn dress by fashion designer Tatiana Kovaříková was auctioned for CZK 500,000 and the winning bidder – Red Group - donated the amount to Mateřská škola Ostrava Poruba for special needs children.
3.9.2008 - The Orchard Offices in Ostrava in Demand
Two months after opening the second phase of The Orchard
office complex on Hornopolní street in Ostrava, we have signed lease contracts for nearly half of the 12,000 sqm five-storey office building. The successful letting progress on the first two Orchard buildings confirmed our expectations for strong demand for high quality office space and services in the Ostrava region. One entire floor in the second building was leased in June to Tieto Enator, and another significant tenant – OKD Doprava (part of New World Resources Transportation BV) – will transfer its headquarters to The Orchard in the Autumn. In addition to Tieto Enator’s expansion into the neighbouring Building 2, another original tenant – Home Credit International – also expanded and will open in the Orchard a development centre of more than 100 people.
office complex on Hornopolní street in Ostrava, we have signed lease contracts for nearly half of the 12,000 sqm five-storey office building. The successful letting progress on the first two Orchard buildings confirmed our expectations for strong demand for high quality office space and services in the Ostrava region. One entire floor in the second building was leased in June to Tieto Enator, and another significant tenant – OKD Doprava (part of New World Resources Transportation BV) – will transfer its headquarters to The Orchard in the Autumn. In addition to Tieto Enator’s expansion into the neighbouring Building 2, another original tenant – Home Credit International – also expanded and will open in the Orchard a development centre of more than 100 people.
12.8.2008 - Red Group formally handed Park Inn Ostrava over to the operator
The Four star hotel Park Inn Ostrava was handed over to the operator, the worldwide hotel company The Rezidor Hotel Group. Park Inn Ostrava officially opened its door to the public on 12th August. For more information about Park Inn Ostrava and bookings visit www.ostrava.parkinn.cz
31.7.2008 - Red Group Celebrates Park Inn Ostrava Opening
Red Group celebrated opening of its first hotel project – Park Inn Ostrava - in the brand colourful style. The four star hotel, which is a part of The Orchard complex, officially opens its door to public on 12th August. The Park Inn brand makes its debut in the Czech market and it is also the first internationally branded hotel in Ostrava. The hotel features 185 rooms and a conference centre.
14.7.2008 - Relocation of Walter Engines Ushers in New Era in Prague 5 Development
Property developer Red Group announced the successful relocation of tenant Walter Engines to new industrial facilities in Letnany in Prague 9 and the historical Waltrovka site in Jinonice is now ready for a massive redevelopment into a mixed use area. The 20-hectare site in Prague 5 should become one of the most exciting mixed-use developments in the city. Walter Engines moves to new 20,000 sqm industrial space at Letov Industrial Estate on a long-term lease with Red Group. U.S. aircraft engine manufacturer General Electrics Aviation purchased the assets of Walter Engines in August last year.
2.7.2008 - Second Phase of The Orchard Complex Succeeds
Construction of the 12,000 sqm five-storey office building of The Orchard complex on Hornopolní street in Ostrava has been completed, and the developer Red Group opened the doors of the second phase to new tenants. After the first building achieved fully leased status, opening the second building marks another successful milestone in the Ostrava development.
1.7.2008 - The Orchard website newly updated
Newly updated The Orchard website went live this week. Please visit www.theorchard.cz to find out the latest project news, all about office space, construction progress, photogallery and useful information about the City of Ostrava. The project´s brochure and floor plans are available for download.
26.6.2008 - The Orchard Golf Tournament
The 2nd Annual Orchard Golf Tournament took place in the Šilheřovice Golf Course on 26th June. Even though the tournament had to be cut short due to a downpour, there was a festive atmosphere for the afternoon barbecue party -complete with live music, cocktails and entertainment. The tournament was won by Radim Děcký from Nova-Auto Leasing. 2nd place went to Jaroslav Havel from Havel & Holásek and Marko Jovanovič from the real estate agency Six Real earned 3rd place. Non-golfers learned the basics in the golf academy and tried their hand at riding Segway scooters.
17.4.2008 - Red Group Boosts Its Team
Red Group is reinforcing its growth by appointing three new key members to its team. Petr Hartmann has assumed the position of Chief Financial Officer, Iain Fanthorpe has become the new Associate Director for Investment and Valuation and Seth H. Marks is the Head of the Sales and Leasing Department.
13.11.2007 - Red Group and Radisson To Create New Destination in Brno
Real estate developer Red Group has signed a third management agreement with The Rezidor Hotel Group that will operate the Radisson brand in a stunning historical building in the centre of Brno. Radisson Brno will reawaken the past glory of an original hotel building, currently known as Palác Padowetz. In addition to Red Group’s current hotel projects in Prague (Park Inn Prague), Ostrava (Park Inn Ostrava) and Brno (Radisson Brno), the company is actively pursuing further sites in regional cities with the intention to develop over 1,000 new hotel rooms for the Park Inn and Radisson brands over the next 2-3 years.
17.10.2007 - The First Building in The Orchard in Ostrava Opens – More Green for the City
Eight months after breaking ground on the first building of the Orchard office and hotel complex in central Ostrava, the real estate developer Red Group opens 12,000 sqm of offices.
At the Grand Opening the developer donated 100 trees to the city. The trees will be planted and add greenery in locations that will determined by the city district.
At the Grand Opening the developer donated 100 trees to the city. The trees will be planted and add greenery in locations that will determined by the city district.
Almost 70 % of office space has already been leased out. First tenants include prestigious names – HSBC and TietoEnator. Construction works on the second phase commenced in the beginning of September and foundation of the third office building is also in place.
After full completion the Orchard complex will consist of four seven-storey buildings providing a total lettable area of 47,000 sqm and 800 car parking spaces. The Orchard project stretches beyond the usual Grade A office space, as it is the first complex in Ostrava to provide a full range of business to business and life-style services.
15.10.2007 - TietoEnator Makes A Move for The Orchard
TietoEnator, one of the largest IT services providers in Europe and the largest IT company in Moravian-Silesian region, has signed a lease for 1,800 sqm of office space.
The business support centre will occupy the entire second floor of the building and create nearly 150 new jobs. Currently TietoEnator Czech has over 1000 employees in Ostrava, most of them are university graduates with IT education.
TietoEnator is active in close to 30 countries and the company’s shares are listed on the HEX Helsinki Exchanges and Stockholmsborsen. Annual net sales amount to EUR 1.60 bln.
4.9.2007 - Park Inn Enters the Czech Market With Red Group
Red Group announced the signing of two management agreements with The Rezidor Hotel Group to operate hotels being developed by Red Group in Prague 2 and central Ostrava. One of the fastest growing hotel companies in the world will trade the hotels under the Park Inn banner that will make its debut in the Czech market as a full service mid-market sister brand to one of the leading hotels in Prague, Radisson SAS.
The Park Inn Prague will be situated in the impressive historic building of a former printing house on Svobodova Street in close proximitz to the Vysehrad castle and will become a flagship propertz in Eastern Europe.
The Park Inn Ostrava is set to become the first internationally branded hotel in Ostrava. The hotel will be a part of the Orchard office adn hotel development currently under way on Hornopolni street.
Red Group will cooperate with Rezidor in searching for other potential locations in the Czech Republic.
27.8.2007 - HSBC Places New Call Center in The Orchard in Ostrava
Red Group and one of the world's largest banking and financial services organizations, HSBC, have signed a lease for office space in The Orchard complex. The key tenant in the first building will launch a call center for Central Europe.
Construction of The Orchard development commenced in February this year. The first building with 12,000 m2 will open in October. Works on the second building will commence in the beginning of September.
19.5.2007 - Construction completion of The Orchard ahead of schedule
Construction of the first phase of the office and hotel complex The Orchard, which commenced in the beginning of this year, will be completed ahead of schedule. The first administrative building with 12,000 m2 of offices will be available from 1st October this year.
The Orchard development consists of three seven-storey office buildings providing lettable area of 36,000 m2, a business hotel with 185 rooms of international standard, and a conference center, complemented by restaurants and a health and fitness centre. Total investment amount is EUR 50 million.