News Article Brno Czech Republic Pardubice Penta Real Estate Prague PSN residential
by Property Forum | Residential

According to 2023 reports, PSN has booked 23 purchase contracts with a total value of over CZK 1.3 billion (€52 million). The largest part is represented by 15 apartment buildings.

PSN reconstructs the purchased buildings and then sells or rents the residential units. Most of them are located in the Prague districts of Vinohrady, Nusle, Břevnov, Smíchov, Podolí, Krč and Žižkov. The company also bought buildings in Brno and Pardubice. Altogether, there are 425 apartments with a usable area of ​​around 20,000 sqm. The renovations that PSN is currently completing include, among others, the BackYard Dejvice and Bydleni Na Výšinách projects.

The BackYard Dejvice project in Prague 6 is an example of an apartment building from the 1930s, which underwent a complete transformation that emphasizes the preservation of historical elements. Behind the house, PSN built a common courtyard with greenery. The reconstruction of an Art Nouveau house from the 1920s in Prague 7 is nearing completion.

PSN is also working on the reconstruction of three townhouses on Seifertova Street, near the company headquarters. This year, over 60 apartments with layouts of 1+kk to 3+kk and sizes from 32 to 160 sqm, intended for rental housing, will be completed here. Several non-residential units will allow space for shops and service facilities.

In 2024, the company wants to spend more than CZK 1 billion (€40 million) on new acquisitions. The PSN company has been engaged in residential renovations for over 30 years. Currently, it is working on the conversion of the Koh-i-noor factory site in Prague's Vršovice, on the transformation of the Innogy site in Brno, or preparing the construction of a mixed-use building on the former Transgas site in the centre of Prague in Vinohrady, on which it is collaborating with Penta Real Estate. PSN is currently implementing Vanguard Prague - the revitalization of the original factory into 150 lofts, and the new building Ahoj Vanguard in the neighbourhood with 94 apartments.