Ideastav buys land for new Prague 5 residential scheme

The developer Ideastav has acquired land from Premium Imobilien in Prague's 5th district it will use for the construction of a luxury residential project. JLL brokered the deal, which will result in the creation of 28 new apartments with 42 parking places. The units will be completed to a high standard and be built into a cascade structure that's placed into a natural slope allowing for unobstructed views of the surroundings and the use of large windows. Work is due for completion on the project in June 2020. "The successful realization of the sale of land went through a multi-round tender," said Pavol Bak, head of the Small & Medium Investment division of JLL. "Thanks to this we were able to filter the best offers for the seller but also the client capable of completion the entire transaction quickly and smoothly."