Prague representatives and representatives of Czech Railways have signed a purchase agreement for the Žižkov Freight Station building and the surrounding land, reports E15.cz.
Prague bought a historic building with adjacent land, on which schools, parks and a new tram line will be built. Next year, the capital is preparing changes to the city master plan in the extensive brownfield, allowing other developers to build.
According to information from e15, the total price for the deal reached CZK 1.43 billion (€57.2 million).
Originally, the developer Sekyra Group had the right of pre-emption on these properties, however, the management of the metropolis concluded a cooperation agreement with Sekyra in recent weeks, where the developer waived the right in exchange for guarantees that it would be able to build on land near the station building.
Prague wants to build a multifunctional centre in a building as long as half of Wenceslas Square, including social spaces, restaurants, cafes, commercial spaces, apartments and other public amenities. Up to twenty thousand people could find housing in the new mainly residential district.
Žižkov freight station had been waiting for its transformation for more than twenty years when it ceased to serve its purpose and České dráhy started selling land around the track to several companies. A construction ban was issued on the entire area to prevent non-conceptual development, work has been underway to change the zoning plan since 2009. However, things moved only after 2020, all stakeholders agreed on the preservation and revitalisation of the historic building, and a concept for the development of the entire area was created. Prague then began to conclude planning contracts with developers (Central Group, Penta Real Estate, Finep, Geosan and others). These are crucial for the city since developers commit to financial and non-financial contributions to the city in value of almost CZK 2 billion (€80 million). The long-awaited changes to the spatial plan should occur just after the purchase of the station building by the capital, which will unblock the entire area after several decades.
