About project

Mechanica phase consists of three buildings, two of them - Mechanica 1 and Mechanica 2 are new buildings, in case of Walter building it will concern a complete refurbishment of the former factory headquarters, while all important architectural elements of the original industrial architecture will remain. Construction of Mechanica phase was commenced in April 2016 and it welcomed its first tenants in September 2017.

History

Waltrovka complex is located on the site of a former Walter Motors factory founded by Josef Walter in 1911. Car production in the factory started in 1913, and it included a number of successful generations of cars and engines of Walter brand. The biggest production boom happened between the world wars, when the factory produced various types of aircraft engines. After second world war the factory was nationalized and renamed to Motorlet. Until 1989 the factory produced a number of licensed Russian engines, but also engines of own production. In those days the factory employed over 1,500 people. In 1995 the company returned to its former name Walter a.s.. However it did not mean at the same time the return to its boom days and glory. Unfortunately the factory did not manage to be self-sufficient from the production and financial perspectives. In 2005 Irish development company Red Group bought Waltrovka with the idea of developing a large office and residential complex. There were partial demolition works carried out on the Waltrovka site and the historical building M3 was refurbished for office use. However further development plans of Red Group have not been realized and in September 2012 the whole Waltrovka complex was purchased by Penta Investments with the aim to revitalize this extensive area and to create a new modern city district in this dynamically developing part of Prague.

Developer

The developer of the project is the Czech-Slovak investment group Penta Investments, which was founded in 1994, focusing on investments in private equity and real estate. In real estate development Penta has been active since 2005 and currently realizes its projects in the Czech Republic, Slovakia and Poland. In Prague Penta successfully completed the administrative buildings Florentinum and Aviatica, which both have received numerous awards from the real estate experts and has proved very popular among its tenants including Penta itself. Penta has the ambition to build on its successfully completed projects and with the help of currently planned large-scale projects to become a leader in the quality real estate development in the office and residential sectors.


www.pentainvestments.com