The Czech Finance Ministry plans to auction off a historical building on náměstí Republiky in Prague 1. The ministry hopes to get at least CZK 750m for the property, which is located next to the Palladium shopping center and Hybernia theater. The building has been occupied until now by state administrators. The government is expected to decide whether to auction the property off today.
Deputy Finance Minister Ondřej Závodský told ČTK the money from the auction would go toward building new administrative offices for 1,500 state employees. He argues that the building they currently use will require tens of millions in renovations. The auction is expected to raise strong interest from investors, as the building offers potential for a mix of office and retail space.
