Representatives of Prague signed an agreement on the purchase of the Komerční banka building on Wenceslas Square
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Representatives of Prague signed an agreement on the purchase of the Komerční banka building on Wenceslas Square


6/21/2024

Hundreds of employees of the City Hall will permanently move into the large building at 42 Wenceslas Square in 2028 at the latest. Prague. The purchase of the building for a total of CZK 3.542 billion was negotiated by the City of Prague with its current owner, Komerční banka, which owns it through its subsidiary VN 42, s.r.o. On Friday, 21 June 2024, the agreement was confirmed by the signing of a contract by the Mayor of the Capital City of Prague. Bohuslav Svoboda, Chairman of the Board of Directors and CEO of Komerční banka Jan Juchelka and Jitka Haubová, member of the Board of Directors of Komerční banka. The signing ceremony was also attended by the Director of the Municipality of the Capital City of Prague. Martin Kubelka.

In September 2023, Komerční banka decided to pursue the sale of its company VN 42, which owns the Komerční banka building on Wenceslas Square and leases it to Komerční banka and other tenants. On 12 March 2024, Komerční banka, through Knight Frank, spol. s r.o., invited interested parties to submit offers for the purchase of VN 42.

The purchase price consists of two parts, firstly, an amount corresponding to the value of the property according to an expert's report of CZK 3.32 billion, and secondly, an amount corresponding to the other assets and liabilities of the company being sold, the final amount of which will be determined by an expert's report prepared according to the company's financial statements as at 30 June 2024. In total, the City of Prague should pay for the building an amount exceeding CZK 3.542 billion.