Knapp

You are not just buying a property. But a piece of history, not only a space between walls where people once lived.

Sokolovská 129/50, Praha 8 / Karlín

History of the publishing house in Karlín

It was in 1866 when Mamert Knapp and his associate established the company Mikuláš a Knapp bookshop, printing office, lithography, publishing house and bindery in Karlín. Mamert Knapp died in 1896.

His sons, František (1874-1919) and Václav (1875 - 1941), took his place in the company. In 1903 they bought their own house at the then Královská (now Sokolovská) street no. 129/500. They also bought new book-printing machines and tried to achieve the best possible results in colour reproduction. They were successful and the company achieved the finest three-color book printing.

Location

The property we offer is plot no. 74 with an area of 561 m² a three-storey building with an attic and a basement, i.e. apartment building, with a total useable floor area of 1500 m², including the basement and attic. The property is located at Sokolovská 129/50, 186 00, Praha 8 - Karlín. The property is listed as the Certificate of Title (LV) no. 38, for cadastral territory 730955 Karlín, Prague municipality, registered with the Cadastral Office for the capital city of Prague (copy of the respective Certificate of Title no. 566, cadastral territory Nové Město, Prague municipality, is attached to this offer).

The property is located in a heritage protected area in Prague 8 - Karlín, near Karlínské náměstí.  Building no. 129 is built as a terraced house, similar to the surrounding buildings in the area of nowadays mostly administrative and residential buildings. The location of this part of Prague is suitable both for accommodation and commercial use (offices, shops, services, etc.) as well as for residential living. From the point of view of residential living and business activities it belongs to one of the most and consistently desired parts of Prague thanks to its location, close to the centre of the capital, similar buildings in the surrounding area and good civic amenities. Florenc and Križíkova metro stations are within 500 meters (7 minutes walking distance), the city centre of Náměstí Republiky is 1.5 km away. The tram stop is less than 100 m.

The house was built around 1830. It is currently divided into several parts: apartments, shops, offices, storage, cellars and attics. Most parts are rented out. The highest value in relation to rental income is provided by apartments, shops and offices. The other parts will have added value in the future (after reconstruction), especially as there is the potential to build more floors.

The residential part of the house consists of five apartments with the disposition of one studio, 2kk, 3kk, 4kk and 4kk. Some apartments are rented, some are used by the current owners. The commercial parts of the house are currently being rented by a printing office, a leather haberdashery, a shop selling air conditioning systems and a photo studio. Offices on the 2nd floor are rented under market terms. Cellars are not used for the time being. Most of the space in the attic is available, in part serving as a storage space.

 

The current annual rental yield is CZK 1,250,000. The lower yield is affected by the fact that the maximum market terms in the rental market of residential and commercial premises are not achieved in the lease of some parts of the building. The potential yield from the annual lease amounts to CZK 2,000,000.

Main information & SWOT analysis

The analysis describes and identifies the character of the property in terms of market supply and demand
  • Strengths

    • strong potential for construction in the location

    • significant potential of growth of space on the land plot in the future

    • excellent transport accessibility by public transport, trams, metro Křižíkova 500 m, metro Florenc 350 m

    • wider centre of Prague (Prague 1, Náměstí Republiky, distance 1.5 km)

    • the area with the second highest average appreciation of the price per square metre of building plots in the past five years

  • Opportunities

    • more effective rental yield in the case of a suitable reconstruction, e.g. offices

    • the price of the building plot can be expected to keep growing in the area

    • this site has a very strong development potential

    • if chosen an appropriate model, setting and reaching the target group, it is possible to expect an increase in rental yield up to CZK 275 per m² in the yield area per month

    • possibility to build a loft for accommodation or office space

    • due to the surrounding area there is a potential possibility to increase the number of floors

  • Weaknesses

    • area with a high traffic load, especially trams in Sokolovská street

    • higher noise level

    • hard to park in the area (only in the surrounding streets, or in the paid car park in the vicinity)

  • Threats

    • sandstone subsoil

    • construction and technical condition of the building

    • when considering any future construction or major reconstruction of the property there is a higher risk associated not only with the consent of the neighbouring owners but also with the consent of the building authority

For the above reasons, after analysing the current situation on the real estate market and considering the further development of the real estate market, we can say:

Ask for the list of rooms in the property Sokolovská 129/50, Praha 8 ― Karlín here >

The property in numbers

5%

average annual appreciation of the plot price (cadastral office Karlín) over the last ten years
 

7,5%

future growth potential of 1 m² / year of the plot (cadastral office Karlín)


CZK 50,000 per m² 

current real market price for 1 m² of plot land (cadastral office Karlín)


CZK 100,000 per m²

current average selling price for m² of rental income (flats, offices)


CZK 1,250,244

current yearly rental income (CZK 104,187 / month)


CZK 2,000,000

potential annual rental yield from the current property


CZK 275 per m²

current rental yield from 1 m² of useful floor area

 

CZK 500 per m²

future potential rental yield of a commercial space per 1 m² of useful floor area

SWOT analysis conclusion:

Potential of growth of the price of the land in the locality, high building variability, 100% built-up area of the plot, potential to immediately achieve more effective monthly and annual yields, long-term and consistent interest in such type of real estate in Prague 8 - Karlín, perfect location almost midway between metro stops Florenc and Křižíkova and many other advantages assure us of the uniqueness of this offer.

»Do not hesitate and contact me straight away. I appreciate your time.«

Martin Donát

CEO and Head of the Board

Tel.: +420 212 812 500
E-Mail: martin.donat@general-reality.cz

Ask for complete information in printed version

 

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