CZECH REPUBLIC HB Reavis sells Prague plot for “record” sum
Land acquisitionsschedule 20 April 2021
The Slovak developer had been planning to build the Nová Vinohradská 8 on the site
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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 pul
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