The Czech government plans to offload a historic palace at Náměstí Republiky in Prague 1. Located between the Palladium shopping center and the Czech National Bank headquarters, the palace has been valued at CZK 750m, according to a government-ordered appraisal. JLL’s Dušan Šťastník told Hospodářské noviny he thinks the valuation is roughly appropriate. The government will have to decide whether to invest the proceeds of the sale into building new headquarters or into repairing existing properties it owns.
Kateřina Arajmu, the head of the government’s property management agency (ÚZSVM), told the paper that a new energy-efficient building for 450 to 600 employees is possible for CZK 500m.
ÚZSVM and labor office staff have already moved out of the building, and employees of the City of Brandýs look likely to follow if the decision to sell is confirmed. The latter group would move to a tax office building in Prague 3-Žižkov, while tax office employees would move in with Prague 7’s municipal office employees at the district hall building on Kapitána Jaroše street.
