WPP lands new giant Prague base 

WPP has acquired a new 175,000 sq ft headquarters in Prague.  The advertising firm has agreed the deal at CPI Property Group’s Bubenská 1. It will be occupied by its brands including GroupM, Wavemaker, Mediacom, Mindshare, Y&R, Wunderman, Geometry, Kantar, Ogilvy, and JWT.  It is understood to have a signed a 15-year lease at a rent of around £15 per sq ft. The heritage-protected building will undergo extensive reconstruction and will be ready for occupation in 2021.  WPP is also in the process establishing its new London base at the FT’s headquarters at 1 Southwark Bridge, SE1 and is agreeing a sale-and-leaseback deal with M&G. WPP was advised by James Andrew International and EMCRE. CPI was advised by Cushman & Wakefield.  To send feedback, e-mail david.hatcher@egi.co.uk or tweet @hatcherdavid or @estatesgazette