Penta Real Estate has acquired a major piece of land above the Florenc metro station that lies along the Magistral road in central Prague. Penta will pay CZK 243 million for the plot, but the final price will go up, depending on what ends up being allowed to be built during the planning process. It’s the latest piece of the vast jigsaw puzzle of land the developer is assembling Masaryk station on one end to Pernerova street in Prague 8. Penta recently concluded a deal with ČSAD Praha to acquire the Florenc bus station along with the land at the southern vestibule of the Florenc station on which an Albert store currently stands.
Penta’s new piece of land is currently a huge construction site, as workers are repairing the underground roof of the Florenc metro station. That’s a public infrastructure investment, but the developer would have to pay for the structure that would bridge that roof. The land is part of a complex urban planning process whose principles were decided two years ago through an international architectural competition. Unit Architekti, A69 – Architekti and Marko&Placemakers won that competition with a bid that Prague’s city assembly approved last year.
“We recently completed the first phase of construction around the Masaryk station,” said Penta’s Pavel Streblov. “We’d like to continue building in the direction of Florenc according to the intentions of the urbanistic competition from 2021 and connect the city with Karlín…A large portion of the recently acquired land will become property of the city once the streets and public spaces are built.”
