In the first round of the electronic auction last September, no one was interested in the palace and the current one the tenant did not exercise his pre-emptive right and did not submit a purchase offer within the set deadline. The Office therefore announced another auction. The auction started on March 7 at 10:00 and lasted until 12:00 on Wednesday. By March 4, by midnight, those interested had to pay a deposit of 20 million crowns. The minimum price increase was 200,000 crowns.

The only one interested?

The bail was paid by only one candidate, but he did not make any bids during the auction either. “The Office for Representation of the State in Property Matters will therefore, in accordance with the contract it took over together with the building from the then Road Administration, contact the existing tenant (Broadway Palace) again to submit bids of the minimum announced price,” the office said. According to the ÚZSVM, the Office will announce another round of electronic auction if it does not show interest in the palace.

“The Broadway Palace complex is not only a unique investment opportunity, but also a sale with the highest announced minimum price in the almost twenty-year history of our office. I believe in us for this an exceptional property in the center of Prague will be found in an electronic auction to find the final owner, “

The functionalist building, which lies between Na Příkopě and Celetná streets, consists of three interconnected tracts and dates from the 1930s. The house is one of the largest functionalist new buildings in the historic center of Prague. The building first served the needs of Italian insurance companies and part of the complex had apartments. After 1980, the building was adapted for administrative purposes. A cinema with the most modern projection and sound equipment was opened in the basement of the building in 1938.

In 2016, the ÚZSVM took over the complex from the then Railway and Transport Administration. In accordance with the law of the UZSVM first the building was offered to other state institutions, but none of them showed interest in it. Therefore, the office is looking for a new owner through an electronic auction. The state has received the highest amount of 790 million crowns so far from the sale of the area on náměstí Republiky in Prague and the sale of the Prague area of ​​U půjčovny, which was sold for 355.1 million crowns after 100 bids.