Czech office market: The most significant transaction of the year

FMnewsroom – office market. The former headquarters of Komerční Banka in Prague’s Příkopy is changing hands. Trinity Bank bought the building from a fund from the Commerzbank group. The bank will open the building to clients and the public – reports.

Trinity Bank bought the building in the most prestigious street in Prague from the fund HausInvest by Commerz Real. The Commerz Real Investmentgesellschaft fund acquired the building at Na Příkopě 33 from the Société Générale group, the owner of Komerční Banka, in 2017.

The price was not published, but Newstream claims to have information from a source from the real estate market saying it exceeded two billion crowns. The deal thus belongs to this year’s largest transactions in the commercial real estate sector and is the largest transaction in the office building market.

A building with a rich history of banking

According to the Memorial Institute, the bank with an area of ​​16,000 sqm was built in the years 1930-37 following the instructions of architects Karel Jaray and Josef Sakař as Eskomptní Banka. The corner building has 6 floors, the facade is covered with travertine. It has been protected as a monument since 1958. Eskomptní Banka was founded in the 19th century, together with the building, it was nationalized during the protectorate.

After the Prague Uprising, the bank’s headquarters became the headquarters of the Czech Social Democratic Party, and in the 1990s, the headquarters of Komerční Banka.

“We want to respect the positive history of this place, where František Palacký and Ferenc Liszt frequented Prague’s most famous cafe “Cafe francais”. We want to revitalize the building and bring it closer to the people of Prague, so we are planning various cultural events, social gatherings and pop-up activities here,”- said Trinity Bank co-owner Radomír Lapčík.

However, the building will primarily be open to Trinity Bank clients. Ad interest in the services of Trinity Bank is constantly growing over 150,000 clients are soon expected in the building.




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