Prague City Council approved a plan to refurbish Hall No. 4 at the Prague Market in Holešovice district. The former Exchange building, which enjoys protection as a historic monument, is currently abandoned due to its bad condition. The total refurbishment, estimated to cost approximately CZK 200 million, will restore the the original historic look of the building and convert it into a restaurant.
The Exchange was built in 1895 in the neo-renaissance style. The building is in a critical condition, which prevents its use. Its refurbishment, which is planned to take approximately 2 years, is expected to cost around CZK 200 million. As part of the project, modern extensions to the building are to be removed as they pose a threat to the building due to their disturbed static. Besides extensive construction works, the building is to undergo detailed restoration.
The original function, which earned the building its name - “The Exchange” - is no longer relevant on the premises of the Market. However, after the refurbishment, the building will serve another of its historic purposes, which is to host a restaurant. The generously sized exchange floor illuminated by fourteen tall windows and decorated with the coats of arms of Czech towns that were represented on the exchange, will newly serve as a restaurant with approximately 300 seats. An outdoor seating, which has historically been part of the restaurant, will offer additional 150 seats.
The entire Prague Market premises are slated for a total refurbishment, with the Exchange being the first step. Further investments will follow, including revitalization of public spaces, repairs of the entrances, installation of new utility lines, and refurbishment of other buildings.