Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
Fenix shopping centre Prague Fenix shopping centre Prague

Stories

Fénix shopping centre – A Phoenix Reborn from Ashes

Successful redevelopment of Fénix Shopping Centre in Prague.

1 The Opportunity

Fénix is a small shopping centre with 12,400 sq m of GLA located on the Vysocanska metro station, Prague 9. Prior to Cushman & Wakefield´s involvement, it didn't a have very good reputation with low footfall, vacant units and retailers reluctant to open their stores there.

Our team identified the major problem – very unbalanced footfall. The only strong area was on the -1st floor between the entrance to the metro station and the Billa supermarket. The rest of the -1st floor and majority of the ground floor had low footfall.


Peter Hakun Peter Hakun

"The redevelopment plan brought major success. It caused a significant change in tenants´ perception of Fénix as well as in the performance of the mall."

- Peter Hakun

2 Chapter - Solution - Fénix shopping centre

Cushman & Wakefield came up with the idea of enlarging the Billa supermarket and changing its layout in order to improve the distribution of footfall within the mall. Our leasing team proposed the solution supported by income calculations to give our client confidence to proceed with the idea and develop it further.

The solution eventually included:

  • new positioning of Fénix shopping centre – as a convenience centre – and bringing new tenants that correspond with the positioning
  • implementing a new marketing strategy including rebranding and new identity
  • changing the layout of the Billa supermarket
  • shifting the main entrance from Freyova street closer to the bus stops
  • changing layouts or locations of all anchor tenants
  • new extended foodcourt
  • complex refurbishment of the passages (ceilings, floorings, shopfronts)

The execution of the whole project was phased and marked by several milestones:

  • August 2017: new entrance opening
  • March 2018: new foodcourt opening
  • September 2018: new Billa opening

3 The Result

The redevelopment plan brought major success. It caused a significant change in tenants´ perception of Fénix as well as in the performance of the mall.

From 2013 to 2018, footfall increased by 17.7% and turnover increased by 57.5%.

We managed to turn Fénix into a successful and well performing convenience centre and for the very first time since the initial opening in 2008, it reached 100% occupancy.


Related News

HOF awards, eagel
Cushman & Wakefield recognized as the Best Real Estate Agency in CEE/SEE in HOF Awards 2023

In this year’s HOF Awards, Cushman & Wakefield was awarded the Best of the Best CEE/SEE Real Estate Agency, proving its market leading position in providing the best-in-class agency leasing services.

02/05/2023

office, fit out, interior design
Czech Republic’s office fit out costs have grown by 10% year-on-year and remain among the highest in CEE

In the CEE region, Prague placed the second (almost at level with the first Poland) in terms of the price of fitting out an office.

11/04/2023

Brno, Castle, day
Uncertainty on the Brno office market

The majority of office tenants in Brno have long been international shared service centres and technology companies, but over the last decade, the interest of these types of companies to locate their headquarters here has gradually cooled.

01/03/2023

Ceremony, award, gala evening, consultants
Cushman & Wakefield recognized as the Best Capital Markets Agency at ThePrime Real Estate Gala

Cushman & Wakefield was recognized as the Best Capital Markets Agency at the Prime Real Estate Gala.

16/02/2023

warehouse, industrial, truck
Czechia remains the best manufacturing destination in Europe and No.5 globally

The Czech Republic came fifth in this year’s ranking of countries with the best conditions for the manufacturing sector, the highest position among all European countries. Czechia’s advantages include a low rate of risk combined with low operating costs.

24/08/2021

Industrial, auto manufacturing
Manufacturing Risk Index

The Czech Republic is the best manufacturing destination in Europe. It also has an excellent position for recovery after the coronavirus crisis.

02/07/2020

Related Insights

Czech Republic, Prague, Old Town Square, High Street
MarketBeat • Insights

Czech Republic MarketBeat

Cushman & Wakefield MarketBeat reports analyse quarterly Czech Republic commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.
Marie Baláčová • 11/05/2023
Prague, Czech Republic
Research • Economy

Czech Real Estate Market View

A regular update on the commercial real estate market in Czech Republic.
Marie Baláčová • 27/04/2023
C&W Lobby
Research • Office

Office Fit Out Cost Guide

An office fit out refers to the process of designing and constructing an office space to meet the specific needs of the occupier. This can include everything from furniture and equipment to mechanical and electrical systems.
Thomas Moore • 29/03/2023
Research, graph, table, data
MarketBeat • Insights

CEE MarketBeats

Cushman & Wakefield MarketBeat reports analyse quarterly commercial real estate activity in the CEE region (Czech Republic, Hungary, Poland, Romania, and Slovakia) across office, retail, industrial and hospitality real estate sectors including supply, demand and pricing trends at the market and submarket levels.
Marie Baláčová • 07/03/2023
woman, reception, tv
Insights • Economy

5-minute Real Estate Market Snapshot

Explore our 5-minute Real Estate Market Snapshot, a video overview of the commercial real estate market developments presenting the key trends in real estate investment, logistics, office and retail sectors.

09/02/2023
Women Hotel City
Insights • Hospitality

The Hotel Investment Scene in CEE

Welcome to our third edition of the joint Cushman & Wakefield–CMS report on the Hotel Investment scene in CEE: Overcoming the Pandemic & Bridging the Financial Gap.
Bořivoj Vokřínek • 01/07/2021

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
Save settings