Czech Post is planning to sell the historic Benedictine monastery in Prague 5 in an electronic auction. The asking price is CZK 420m. The state-owned company used the 19th-century monastery as a depository for the Post Office Museum and decided to offload it as redundant. The museum collection will be relocated to property that Czech Post has on Ortenovo Square in Prague 7. The monastery is located in a popular residential area of upper Smíchov, near Sacré Coeur Park and the Nový Smíchov shopping center. It has the potential to be refurbished into residential units or a hotel, says Alexander Rafajlovič of the Cushman & Wakefield investment team.
