Prague rejects purchase of Jindřiška Tower due to high price

19
Oct
2023
News - Prague rejects purchase of Jindřiška Tower due to high price #city #Czech Republic #investment #Prague

by Property Forum | Investment

It would be an unfavourable purchase, Prague councillors agreed in the case of the Jindřiška Tower, for which the Prague Archbishopric is demanding CZK 100 million (€4 million). This is twice as much as an expert's opinion, according to newstream.cz which commented on the original CTK report. 


The capital will not buy the medieval Jindřiška Tower from the Prague archbishopric, Prague City Councillor Adam Zábranský said. The reasons for this are the high price the church wants for the building, the need for costly repairs and the long lease agreement, which the current tenant has until 2044. According to Zábranský, the entire Prague coalition, i.e. elected representatives from the political grouping Spolu (the political parties ODS, TOP 09 and KDU-ČSL), Piráti and STAN, agreed to reject the purchase.

The archbishopric is demanding CZK 100 million (€4 million) for the building, which the councillor said is about twice as much as the expert opinion, according to the ČTK. The archbishopric offered the Jindřiška Tower in the city centre for sale late last year because, according to the archbishop, it has no significance for the faithful and is primarily a tourist monument. It also wants to sell the Clara Futura hotel in Dolní Břežany for CZK 308 million (€12.5 million). The money the archbishopric would receive from the sale would go to the church's education system.

According to an earlier statement by the archbishopric, the tower requires repairs worth up to CZK 30 million (€1.2 million). Councillors will now instruct officials to draw up a document containing a resolution stating that the city is not interested in buying it. The document will then be discussed by Prague councillors. They will communicate their decision to the archbishopric. The sale of the tower is part of a streamlining of the church's management in view of the time when it will no longer receive a contribution from the state for its activities. The archbishopric originally offered the tower for sale for CZK 75 million (€3.042 million), but later increased the price.

The Jindřiška Tower on the border of the street of the same name and Senovážné Square in Prague 1 was originally the bell tower of the neighbouring church of St. Henry and St. Kunhuta. It is part of the Prague Monument Reserve, a UNESCO World Heritage Site. The late Gothic tower was built between 1472 and 1476.




Latest news


New leases

  • Intersport is set to expand its Romanian footprint by opening its largest store within the Iulius network at the Rivus urban regeneration project, which is under development in Cluj. Spanning more than 1,000 sqm, the new location will serve as a flagship store.
  • HS Hydro & Spa has leased space at Logicor Bucharest III Pallady, in a deal brokered by iO Partners.
  • Piața 9 will open its first Bakery P9 location in Bucharest, on a 200 sqm area located on the ground floor of Victoria Center office building. The deal was brokered by Colliers.

New appointments

  • PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
  • iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.
  • Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.


Latest news

News - Apsys stars two resi projects in central Wrocław
17
Mar
2026

Apsys stars two resi projects in central Wrocław

by Property Forum
Apsys Polska has kicked off the regeneration of a post-industrial site in central Wrocław with two residential projects - Nowa Stawowa and Ogrody Staromiejskie. Construction work began in early 2026, with completion planned for Q4 2027.
Read more >
News - Mattel signs lease for new logistics centre in Panattoni Business Park Most Joseph
17
Mar
2026

Mattel signs lease for new logistics centre in Panattoni Business Park Most Joseph

by Property Forum
Mattel, a leading global toy and family entertainment company, will become a new tenant at Panattoni Business Park Most Joseph.
Read more >
News - Panattoni to develop 38,000 sqm warehouse for Sellpy in Wrocław
17
Mar
2026

Panattoni to develop 38,000 sqm warehouse for Sellpy in Wrocław

by Property Forum
Panattoni has secured another tenant for its development in Lower Silesia – Wrocław Campus 2. Sellpy, a digital platform for secondhand and other products, will launch a distribution warehouse in Wrocław, occupying approximately 38,000 sqm.
Read more >


Property Forum ABOUT US

Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
Please send press releases to
newsdesk AT property-forum DOT eu
MORE >

CONTACT

NEWSLETTER

 

Property Forum © 2017 – 2026 | Terms & conditions | Privacy policy