On the site of the former Transgas building, Penta and PSN will build a residential apartment building

Prague - Penta Real Estate, together with the development company PSN, will build a predominantly residential building on the site of the former Transgas building at the beginning of Vinohradská Street in Prague. To prepare and implement the project on one of the most valuable plots in the capital, the companies have created a joint venture. The new building could begin construction in 2024. Penta and PSN announced this in a press release.

Both developers are currently completing a study in collaboration with the architectural studio Jakub Cígler architects, which had already worked on the project for the previous owners. PSN purchased the plot from HB Reavis last year for 870 million CZK.

According to Pavel Streblov, the director of Penta Real Estate for commercial construction, the concept of the originally purely administrative complex will fundamentally change. "We definitely want to maintain the character of the location. Vinohrady is predominantly a residential area, so we want to prepare a project together with PSN that will be primarily residential with only a smaller part of the project dedicated to offices and commercial units on the ground floor," he stated.

"This is one of the most interesting and valuable plots in the center of Prague, in the immediate vicinity of the National Museum. I am confident that in conjunction with Penta Real Estate, we will enrich Vinohradská Street with a useful, modern, and architecturally very high-quality building,” added Max Skala from PSN.

There was a complex of three buildings on the site until 2019, built between 1972 and 1978 in the brutalist style primarily for the Gas Management Center Transgas and the federal Ministry of Fuels and Energy. Subsequently, the building was owned by ČEZ, which sold it to the developer HB Reavis, the Slovak billionaire Ivan Chrenek. During his ownership, the building was demolished in 2020. The plot was then purchased by PSN from HB Reavis in 2021.

PSN has been operating on the Czech market since 1991, originally as the Prague Property Management. It owns properties in Prague, Pardubice, and Hradec Králové. Among the most famous properties are the Dancing House, the Fashion House on Wenceslas Square, or the Dlážděná Palace.