On November 26, 2021, Colliers announced that it had assisted WPP with the co-location of twelve of its agencies to a new 16,000 square meters office space in Prague.
According to Colliers, approximately 12,000 WPP employees have moved into seven floors of a functionalist palace after extensive reconstruction. WPP now occupies two-thirds of the building owned by investment group CPI Property Group and the lease contract is signed for a period of 18 years.
“The project management of the fit-out was managed by Colliers Czech Republic who also provided technical supervision, cost management, and health & safety supervision services,” said Colliers Czech Republic Senior Project Manager David Arneil. “The construction involved a local and international team working together during the COVID epidemic. The building is also a heritage-protected monument with the same level of protection as the Prague castle which added another dimension to a project which already had challenging time and cost targets.”
Colliers also informed that through this move Prague joins other office campuses that WPP has opened in London, Amsterdam, Madrid, Bucharest, and Milan. The relocation of agencies from the WPP network to a common headquarters is part of a global strategy to create an inspiring working environment and to facilitate networking and sharing of expertise between agencies.