EP Real Estate (EPRE) from the EP Corporate Group, controlled by Daniel Křetínský, has won the Bellevue Palace on Prague’s Smetana Embankment in a tender, announced the company’s spokesman Daniel Častvaj today. Křetínský’s company won the tender, which was organised by the insolvency administrator of Francesco, a company belonging to the portfolio of Arca Capital, which is in insolvency. The spokesman did not disclose how much EPRE paid for the palace. According to Seznam Zprávy.cz, it was CZK 411 million.
“As can be seen from the holding’s headquarters in Pařížská Street, we have a soft spot for places with genius loci. The Bellevue Palace is undoubtedly such a place, which can be proved, for example, by the fact that Oskar Kokoschka created unique paintings of Prague in his studio in this building. Jiří Trnka also had a studio in the house,” said Jiří Nováček, CEO of EP Real Estate.
The three-winged house is located by the Vltava River with a view of the Charles Bridge and Hradčany. It houses, among other things, the Bellevue restaurant and under the roof of the house were painting studios. “We were impressed by the place, but at the same time we were concerned about the neglected and even dilapidated state of the building. We would like to bring it back to life in a multifunctional form – especially by creating extraordinary residences, but also by restoring commercial functions in the parterre,” Nováček said.
The house was built in the mid-19th century to a design by architect Konstantin Mráček in the Dutch Neo-Renaissance style.
EP Real Estate is primarily preparing the EPH Group’s real estate assets for subsequent transformation. Acquisition opportunities are not limited to the transformation of the original operations. EP Corporate Group holds 56 percent of EP Real Estate as of 1 January 2023. The remaining 44 percent is controlled by J&T Capital Partners founder Patrik Tkáč. EP Real Estate controls approximately 520,000 sqm of land in Prague and Brno, making it one of the largest landowners in the Czech Republic.
Source: EP Real Estate and CTK
Photo: Arca Capital
