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CZECH REPUBLIC HB Reavis sells Prague plot for “record” sum

Land acquisitions
Slovakian real estate group HB Reavis has sold the site of the now demolished Transgas complex in central Prague to Czech developer PSN for CZK 870 mln (app. EUR 72 mln), which it claims is a record sum for such transactions.

In 2014 HB Reavis bought the 1970s brutalist office complex on Vinohradská near Wencelas Square from energy conglomerate ČEZ for around CZK 250 mln. After the failure of a subsequent campaign to list it as a historic monument, it was demolished in 2019 to make way for the Nová Vinohradská 8 development planned by HB Reavis. The 23,000 sqm project designed by the Jakub Cígler architectural studio was originally scheduled for completion this year.

HB Reavis, which has been reported to be pulling out of activities in Prague and much of the Czech market (with the exception of its HubHub office concept), has stated that it will continue to focus on projects elsewhere, such as its 53,000 sqm Nová Zvonařka city-building development in Brno. The company has also just revealed that it has received planning consent for its 123,000 sqm One Waterloo mixed-use project in London.

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schedule 18 May 2021

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schedule 18 May 2021
Opr./edited by NN

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schedule 18 May 2021
Opr./edited by NN

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schedule 18 May 2021
Opr./edited by NN

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schedule 18 May 2021
Opr./edited by NN

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schedule 17 May 2021

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schedule 17 May 2021
Opr./edited by NN

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schedule 14 May 2021
Opr./edited by NN

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schedule 14 May 2021

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schedule 14 May 2021
Opr./edited by NN

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schedule 14 May 2021
Opr./edited by NN

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schedule 14 May 2021
Opr./edited by NN

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