Prague: important train stations have already been claimed by developers

Prague - There is great interest in Prague’s train stations and adjacent lands among developers. According to a statement from Czech Railways, contracts with strategic partners have already been signed at all important stations. They intend to invest billions of euros in the development of railway properties, with significant transformations expected particularly at Smíchov, Žižkov, and Masaryk stations.
"Prague is essentially being dismantled, the interest in Prague’s railway real estate is enormous," said Karel Tabery, director of Czech Railways' real estate projects department, at the recent Czech Real 2008 conference. Most projects are handled by the railways through joint ventures with partners from development companies. In addition to financing new constructions, they will also restore the current railway buildings.
Among the most interesting projects is the planned revitalization of Smíchov Station. It will be financed by Sekyra Group within the framework of the joint venture Smíchov Station Development. As stated by the company’s executive director Leoš Anderle, Sekyra plans to invest up to 600 million euros (approximately 15 billion CZK) in construction in Smíchov over the next ten to 15 years.
A new urban quarter with retail or office space of 400,000 square meters is expected to arise in Smíchov. The project will also include apartments.
Sekyra will also build a new quarter in the area of the Žižkov freight station, where it plans to invest 500 million euros (12.5 billion CZK). According to Tabery, Žižkov is exceptional in that it is the only so-called brownfield among Prague's stations, meaning it is an unused industrial and warehouse area where railway transport will likely be completely discontinued.
On the other hand, Masaryk Station in downtown Prague will gain significance, as it awaits major changes. The revitalization will be handled by ING Real Estate Development. The platforms will be shortened, expanding the space for passenger processing, for example. As a replacement, the first currently unused postal track will also be put into operation for regular service. The dilapidated dispatch building will be the first to be reconstructed.
At the same time, a lucrative plot will be created at "Masaryčka", which the railways plan to acquire with ING by eliminating a derelict track along Na Florenci street. "However, it's not easy to resolve," Tabery pointed out. The cancellation of even an unused track can take up to 1.5 years in administrative proceedings.
There is also a rarity planned in the revitalization of Masaryk Station. A technical railway museum will be created in the empty buildings of the old depot. Paradoxically, however, it will not be connected to the tracks, so the exhibits will have to be transported here by crane.
Another station renewal and commercial space construction project is being prepared in Holešovice; however, preparatory works are complicated by unresolved property relations. For example, the tracks lie on city land, while the city uses railway land, and the dispatch building is on the land of third parties. A joint venture of all concerned parties is expected to resolve the situation.
The main station is a separate chapter, where a modern transport and commercial center is planned. The reconstruction, which is expected to be completed in 2011, has been taken over by the company Grandi Stazioni. However, according to Tabery, the work is running behind schedule due to unexpected defects. "Contract amendments are being prepared to improve the contractual position of Czech Railways," Tabery said.
Complete transformations are also expected for several out-of-Prague stations. Allegedly grand development projects are being prepared in České Budějovice, and upgrades await stations in Karlovy Vary, Teplice, and Chomutov. Fewer projects are underway in Moravia, where the state funded reconstructions over the past 20 years.

Prague stations with planned development projects

Station
Braník
Bubny*
Dejvice
Holešovice
Krč
main station
Masaryk Station
Smíchov
Krč
Žižkov
Horní Počernice

*former land of SŽDC
source: ČD