Developer PSN bought land at the site of the former Transgas building for 870 million CZK

photo: iRozhlas.cz

Prague – The development company PSN purchased the land for 870 million crowns from HB Reavis on the site of the former Transgas building from the 1970s on Vinohradská Street in Prague. A building for residential purposes, offices, retail, and services will be constructed here.

"This is currently an unused space with enormous potential; lands in such a lucrative location in the center of Prague practically no longer exist. By acquiring it, we want to contribute to the cultivation and further revitalization of the immediate vicinity of Wenceslas Square. At the same time, this transaction confirms our intention to continue to grow,” said PSN acquisition director Pavel Citta.

The Transgas building, an example of so-called brutalist architecture from the 1970s, previously stood on the site. After several renovations, it was demolished in the past two years.

"Our intention is to build a new building here that will respect the exceptional location in the center of Prague with its expression, and at the same time, it will have its own strong story. The building will contain both new apartments and administrative spaces; we also want to offer new shops and services to everyone,” added Citta. The architectural form of the project, its detailed use, and the timing of construction will be specified by the company in the coming months, according to him.

The group of buildings of the former Central Gas Dispatching Transgas and the Ministry of Fuel and Energy was located close to Wenceslas Square under the Czech Radio building. It was the work of the team Jindřich Malátek, Ivo Loos, Zdeněk Eisenreich, and Václav Aulický. The plan to demolish the group of buildings sparked debates about the architecture from the socialist era, which has both supporters and critics. Supporters regarded the building as an example of stylistically synthetic architecture of the 1970s, combining elements of brutalism, technicism, and postmodernism, as well as a unique implementation of postmodern urbanism on Czech territory.

The company PSN has been operating in the Czech market since 1991, originally as the Prague Real Estate Administration. It owns properties in Prague, Pardubice, and Hradec Králové. Among the most well-known are, for example, the Dancing House, the Fashion House on Wenceslas Square, or the Dlážděná Palace.