From the building of the department store Prior in Prague 12, there will be a new multifunctional building

Prague - A new multifunctional building will be built from the Prior department store in Prague 12, where there will be a supermarket, offices, or municipal apartments. The reconstruction will be carried out by the company BAK. This was reported by Petra Svobodová, spokesperson for Prague 12, to ČTK. The municipality announced the public tender back in 2020. Currently, the building is only partially utilized and is not in good condition.

"I am pleased that after three years of effort, it was possible to advance the concession procedure to the signing of the concession agreement," said the deputy mayor of Prague 12, Petr Šula (TOP 09). "A number of meetings with interested parties in the concession took place; it was necessary to thoroughly prepare the contracts, business and financial models, and also potential compensations in case of any failure," he added.

In the newly constructed building, in addition to the supermarket, there will be two floors of additional shops, one floor for offices or practices, and four floors of municipal apartments. The concessionaire will have the right to purchase a part of the land and subsequently sell commercial units and apartments to third parties.

The municipality will receive an annual rent, which will be at least ten million crowns after the building is completed. After the concession period ends, the multifunctional building will also be handed over for free.

The Prior building at Sofijské Square was built in the late 1980s and is owned by the capital city of Prague, permanently entrusted to the administration of the municipality. In 2007, the leadership of Prague 12 planned to use the building as a new town hall, but that was built on Generála Šišky Street. Currently, most of the spaces are empty, and with the exception of the reconstructed passage on the ground floor, the technical background remains original. The town hall does not have the funds for the reconstruction, so it decided to find a partner.