CENTRAL GROUP is the biggest builder and investor in new housing construction in the Czech Republic. For this year alone, the company has earmarked 3 billion CZK for new acquisitions in various locations around Prague. We are looking for land and brownfields to construct at least 100 apartments or at least 20 single-family homes in one location. But the big interest is in bigger plots (and brownfields) and projects.
When it comes to apartments, we buy land exclusively in Prague. For single-family homes, the outskirts of Prague (Prague-East and Prague-West) are also attractive locations. CENTRAL GROUP does not buy land in other areas. For purchasing land that is mixed in character, the primary condition is that it must serve a residential function.
For land with zoning permission or the building permit already issued, the sales contract can be immediately closed and the purchase price immediately paid. For land where the zoning permission has not been issued, a sales agreement can be closed with an advance immediately deposited. After closing the sales agreement, CENTRAL GROUP will manage all the architectural, design and engineering work needed for issuing the zoning permission at its own cost. Once the zoning permission comes into force, the actual sales contract will be closed and the balance of the total purchase price will be immediately paid.
The company itself manages and pays for all matters related to developing the land (studies, projects, engineering work, geometric plans, etc.). It also manages all legal paperwork (contracts and deeds) and pays all the fees related to the work of the notary. It also pays all the fees for entering the deed of ownership in the Land Registry and for the official notarization of signatures.
CENTRAL GROUP is an investor and developer, not a real estate broker. It buys all land for building its own new apartments and single-family homes. The company uses escrow for the maximum legal security of both contractual parties.