Penta has started demolition work on the former custom house building at Masarykovo railway station in the center of Prague. The developer is clearing the plot to be able to build office buildings there as part of the redevelopment of the whole area, Penta’s spokesman, Martin Danko, told ČTK. He said that the building was used for storage by Czech Railways, which owns the land. Discussions about the sale of the land are still underway. Penta and Czech Railways have not come to an agreement over the price. Penta has an option to buy the land. It is the majority shareholder of the Masaryk Station Development company, which was established to steer the redevelopment of the area. Czech Railways hold a 34-percent stake in the company.
Penta said in May, that it wants to buy 15,000 sqm of land for CZK 400m. The Czech transport minister, Antonín Prachař, now claims that the conditions of the contract signed in 2003 must be checked again. Penta plans to build in three locations around the Masaryk station. The first location is opposite the Florentinum office building along Na Florenci street, where it is now clearing the plot.
