Českomoravská nemovitostní (ČMN) has completed its acquisition of Churchill Square office complex above Prague’s main train station. To do so, it bought out the remaining 50% share from its Lebanese partner CFH. The two bought the building together from Penta Real Estate at the end of 2020. It’s the latest in a long string of deals where local investors have used the lack of foreign investors in the market to snap up key real estate assets.

the deal consisted of a cash payment of 19 million euros, with ČMN assuming €24 million in debt, or 25 percent of the loan that the partners took out to make the initial purchase possible. The transaction is based on a €170 million valuation of the property. Equates to CZK 4.3 billion at current exchange rates, whereas the building was bought off a valuation of CZK 4 billion. “We are financing the acquisition through a combination of our own cash, corporate bonds, and bank loans,” ČMN’s Vice Chairman Josef Eim.

ČMN and Lebanese CFH originally shared the property equally, but ČMN bought out one-quarter of the asset a year ago. With the takeover completed, Eim says Churchill “is a strategic and long-term investment for us. We don’t have any exit plans in the short or medium term.”

On Monday, 22 January 2024, the Turnov beer hall in our Churchill II building will be open for business. And we are already looking forward to their delicious lunch menus, regular menu and last but not least their honest craft beer from the heart of Bohemian Paradise.
There are more than 3,000 of you working in the Churchill I & II building. That's why we're delighted to have this top restaurant in our retail space, which will keep you full and hydrated on weekdays and weekends.
In addition, you can use it for corporate or private events. And also for catering.

If you're looking to whet your appetite now, check out www.turnovskapivnice.cz to see what's good for lunch next week. Also follow the news on the IG profile @TurnovskaPivniceChurchill.

We wish you a good appetite.

First a street, now a memorial plaque. Heroes must be remembered!
Two years ago, a street named after Major General Josef Duda was created in the centre of Prague near the Main Railway Station. This year, on 15 September 2023, a commemorative plaque was unveiled on the Churchill Building to commemorate this distinguished Czechoslovak airman who made a significant contribution to the success of our, British and Allied RAF airmen in the Battle of Britain.
"It is a great honour and pleasure for me to participate in the unveiling of the memorial plaque to Josef Duda today. Today's times often lack heroes, and therefore it is very important to be aware of the past, to appreciate and remember the heroes of our recent history," said Josef Eim, Vice-Chairman of the Board of Directors of the investment company ČMN, one of the initiators of the memorial plaque.
We would like to thank all those who attended, especially the representatives of the General Staff of the Army of the Czech Republic, the commanders of the 533rd Battalion of unmanned systems of General Josef Duda from Prostějov, representatives of the Prague diplomatic corps, the Prague 2 Municipality, the General's family and the citizens of Prague.

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