In 2017 Redevco acquired the distinctive neo-renaissance and secession-style City Palais building in the heart of Prague. The 7,482 m2 retail property, located in the bustling “Golden Cross” district, was purchased for more than €40 million from a group of private investors.
The asset is excellently situated in the city’s main pedestrianised shopping precinct. Well-served by public transport links, the location attracts a daily footfall of 150,000 people, making it one of the most frequented pedestrian shopping destinations in Central Europe.
City Palais offer a fantastic opportunity to create a prestigious flagship store or experience of some sort in a super prime location. The passed few years it was the home to special pop-up exhibition “Gallery of Steel Figures”.
With our specialist team, highly experienced in creating inner-city retail destinations, we will work with the municipality to preserve the important heritage of this listed property while at the same time give it a new, modern purpose.
The City Palais is an extraordinary building designed by renowned Czech architect Matěj Blecha and the famous sculptor Celda Klouček, and consists of six floors above ground and two underground floors with a complete floor area of 7,482 sqm. The spaciousness of the property and its unique allure outside as well as inside, makes it perfectly suitable for a retail brand to create a marvellous retail experience.
Core / Core +
40+ million EUR