The auction of the Broadway Palace in the centre of Prague has ended successfully, with the bidder offering a starting price, reports E15.cz.
This marks the most profitable sale ever made by the Office for Representation of the State in Property Matters (ÚZSVM). The Property Office will now offer the current tenant of the property to match the offered price. If the tenant fails to do so, the palace will be acquired by the winner of the auction, said Tereza Frančová, spokesperson at ÚZSVM.
Two bidders applied for the ninth round of the auction of the Broadway Palace, a modernist building between Na Příkopě and Celetná streets. Only one of them made a bid, offering the starting price of CZK 878 million (€36 million) 17 minutes before the end of the auction. According to the ÚZSVM, the winner of the auction is a legal entity from Prague, but it did not disclose it.
The tenant of the property has a pre-emptive right based on a contract. "It can apply its pre-emptive right within three months of the delivery of the appeal. If it fails to do so, the ÚZSVM will conclude a contract with the winner of the electronic auction," said Frančová.
Photo source: cs.wikipedia.org/wiki/Pal%C3%A1c_Broadway
Author: Palickap
