Broadway Palace will be put up for sale in Prague for 1 billion crowns

The Czech Republic will hold an auction for the sale of the Broadway Palace in Prague. The starting price is 1 billion crowns. The electronic auction will start on September 14th and end on September 16th. Built in the 1930s, Broadway Palace is one of the largest functionalist constructions in the historical centre of Prague.

The Office of State Representation in Property Matters (ÚZSVM) took over the Broadway Palace complex in 2016 from the then State Administration of Railways and Traffic. As prescribed by law, ÚZSVM initially offered the palace to other government agencies, but none of them showed any particular interest in this building. Therefore, the state is now looking for a new owner of the Palace.

“This sale is completely unique, even in terms of the announced amount. This is the auction with the highest minimum price in the history of ÚZSVM,” the Office said. According to the agency, the largest amount (790 million crowns) was received from the sale of a complex on Republic Square in Prague. The complex “U půjčovny” was sold for 355.1 million crowns among 100 bids submitted for the auction.

The Broadway Palace is located in the centre of the Czech capital between Na Příkopě and Celetná streets. It consists of three interconnected passages. There are shops, restaurants and offices apart from the Broadway Theater. The total area of ​​the complex is over 8.3 thousand square meters (5375 sq. meters of office space and about 3000 sq. meters of retail space). The building was first served by Italian savings banks, part of the complex also housed apartments. In 1938, a cinema was opened in the basement, and now its premises are used by the theatre. After 1980, the building was adapted for administrative purposes.

“I believe that the Broadway Palace complex will soon find a new owner who can restore this cultural monument to its former glory and breathe new life into it. This is a unique investment opportunity in a profitable part of Prague,” ZSVM said.

Source: ceskenoviny.cz


Related articles

  • A man in the Czech Republic took a saleswoman hostage in a store by

    The police negotiated in the centre of the city of České Budějovice with a man who took a saleswoman in a tobacco shop hostage. At about 4:00 pm, the police managed to free the woman. The central square of the city of Přemysla Otakara II is now partially closed, the traffic stopped.

  • The thunderstorm again led to destruction in the affected regions by

    In tornado-hit villages, a storm today tore seventy tarps from dilapidated houses that protected them from further damage. The heavy rains have also caused damage to the area affected by the tornado, albeit incomparable with the disaster of the previous week.

  • 10,539 people infected with COVID-19 died in the Czech Republic in 2020 by

    According to the Czech Statistical Office (ČSÚ), COVID-19 was the second most common cause of death in 2020. 10,539 people died because of it, which is equal to over 8% of the total number of deaths. Ischemic heart disease remains in the first place (19,171 deaths), the third place is taken by cerebrovascular diseases (4,196). In general, cardiovascular diseases account for 30% of all deaths in the republic.

  • Hurricane in Czech Republic left 145,000 homes without electricity by

    Due to an overnight thunderstorm and hurricane, around 145,000 households in the Czech Republic were left without electricity on the morning of June 30. The most common cause of accidents is falling trees and branches on power lines.

  • Czech Ministry of Health has banned trips to Russia and Tunisia by

    The Ministry of Health has banned travelling from the Czech Republic to Russia from July 1 due to the spread of coronavirus delta mutations. From July 5, it will also be impossible to travel to Tunisia, which is one of the most popular Czech destinations for the summer holidays.

  • Hundreds of Prague citizens queued in front of the new Primark store by

    With a year delay caused by the covid-19, Irish fashion chain Primark opened a store on Wenceslas Square at 9:00 am today. Before 8 am, a queue began to form in front of the store. Primark employees created corridors on the sidewalk. The opening was accompanied by The Queen's song "We Are the Champions". No incident happened at the event.
     

Facebook comments

Ristorante Casa de Carli

Authentic Italian cuisine in Prague

The James Joyce Irish Pub

Best Irish Pub in Prague

Pražské Benátky

Enjoy Prague from a different view

Legans Law Office s.r.o.

We help you to master Czech bureaucracy.

Ing. Kristina Krčmářová -...

Certified Czech tax advisor with fluency in English.

Sauna Central - RELAXATION...

Sauna in the city centre of Prague.

Green Fox Academy

Become a software developer in Prague


PragueMonitor.com

Prague’s # 1 source for Czech news in English…


CitySpy.cz

Digital lifestyle magazine platform promoting life in Prague.