A single key unlocks the taste of the finer things - EPG GPI

A single key unlocks the taste of the finer things

Eva Vaňousová, EPD’s leasing manager, hopes to have the Palladium Offices nearly, if not totally, occupied by the time they open next year.


EPD provides corporate office solutions at náměstí Republiky’s historical Habsburg barracks

Eva Vaňousová, EPD’s leasing manager, hopes to have the Palladium Offices nearly, if not totally, occupied by the time they open next year.

The word “palladium” embodies the need to work well, balanced with the finer things in life.

It’s a term that was unearthed by Prague’s European Property Development (EPD), says Leasing Manager Eva Vaňousová, after several painstaking months of market research, focus groups and careful deliberation.

EPD’s náměstí Republiky and Na Poříčí Palladium Offices are the city’s newest concept in turnkey office solutions. When it’s completed next fall, Palladium will contain more than 19,500 square meters (209,898 square feet) of every retail and technological convenience imaginable to the harried 21st-century corporate denizen, from dry-cleaning services and travel agencies to a bank and post office. EPD, according to Vaňousová, hopes to have the building nearly, if not totally, occupied by the time it opens.

The Prague Post recently had a chance to sit with Vaňousová at EPD’s stylish headquarters near the city center. We asked her about EPD’s aggressive marketing campaign and what companies wishing to establish themselves at the prestigious New Town address might expect to find when they move in next year.

The Prague Post: What is Palladium’s present tenancy status? How full are you at this stage, and is everything proceeding according to schedule?

Eva Vaňousová: We have just started a marketing campaign. Everything is going very much according to plan, and we fully expect to be almost 70 percent let by the time fall 2007 rolls around. As you might expect, the building speaks for itself. There are few places in Prague’s center that can match Palladium’s architecture, central location, overall comfort and access. … Palladium has it all under one roof.


TPP: Which specific industry sectors might find it advantageous to base themselves at Palladium? Are there any particular ones EPD has been focusing its marketing efforts on?

EV: Our targets really cover a wide spectrum: law firms, financial consultants, people who wish to be closer to the Prague Stock Exchange, manufacturers, hardware companies — industries that are very time-sensitive and who don’t have time to busy themselves with more troubling infrastructure issues. For example, we have direct access off the highway from the airport, one of the fastest point-to-point connections between Ruzyně and the center.


TPP: Will EPD be offering specialized terms to tenants who sign earlier? Are there advantages for a tenant who moves quickly?

EV: Each case is specific, and every tenant has particular needs. At this time, tenants have their choice of office location and size.


TPP: Your marketing material speaks of the “open concept,” American-style work environments that companies can expect to find on floors three, four and five. Can Palladium’s offices be modified for those tenants who desire more private or more enclosed spaces, for example?

EV: Yes, of course. Our specs can be shifted according to the wishes and needs of each client. Walls have the capacity to be configured in such a way to create secluded spaces for senior management, and private offices can be set apart from the main shop floors, on an ad hoc basis. For example, the smallest room can be 12 square meters. That’s already been prefigured into Palladium’s layout.


TPP: EPD has partnered up with three agents on the leasing side of this project — CB Richard Ellis, CPB and King Sturge. What is the specific expertise that these various colleagues bring to the table, and are there any specific market segments they will be focusing on for Palladium exclusively?

EV: The relationships we have with our agents can best be described as teamwork. We meet with them regularly and are in frequent contact. CB Richard Ellis has excellent international links, for instance, and brings this international experience that has been very helpful in extending EPD’s reach to places not typically considered among brokers who deal exclusively in more European or local markets. We are presently in discussions with a prospective tenant from Japan in the manufacturing sector. These are some of the advantages that come about by working with agents.


TPP: What can you say of the competition?

EV: Of course, as in every industry, there are competitors. While there are other addresses close to the center that might also be of interest to companies, it’s clear that Prague has been waiting for something like Palladium for a very long time. It’s our belief that prospective tenants would be hard-pressed to find a location that combines the beauty of Palladium’s historical space … prestigious address, stylish design, overall modern technical specifications … and the fact that we have an on-site property management office [European Property Management, a division of European Property Group], which is very rare.


TPP: Describe some of the other services that a tenant can expect to find.

EV: The multipurpose Palladium project will offer first-class office space, 900 parking places, but also an opportunity for shopping and dining in more than 200 shops and restaurants, a broad variety of attractive opportunities for leisure and entertainment. Numerous other services will also be available in the complex, such as a bank, post office, makeup and hair stylist, dry-cleaning, shoe repair and photo development.


TPP: Were there any interesting finds from Prague’s past during the excavation phase?

EV: In fact, yes. There were some outstanding archaeological discoveries — for example, the base of a Roman pillar was discovered, which will be preserved and exposed for public viewing in the retail part of interior of the complex. Also, some of the site’s historical buildings — barracks and riding hall — have been restored and provide stylish architecture. For example, our Na Poříčí entrance makes extensive use of the old Habsburg stables, which is an example of how we made significant improvements to what was already there.


TPP: So how is Palladium best described in one sentence?

EV: Palladium is a comfortable and professional work environment that allows you to focus on what you do best — your business. When it comes to all the rest, please leave it to us.


By Adam Daniel Mezei

For The Prague Post

November 15th, 2006 issue