The Loucký Monastery in Znojmo has an interest from a foreign investor

Znojmo - The Louka Monastery in Znojmo, for which the state has been trying for more than a year to find a buyer, may finally be sold. A group of foreign investors is interested in purchasing the monument. They would like to convert the monastery into a hotel complex with shops, restaurants, and other services. The investment volume is estimated at 50 million euros, or about 1.3 billion crowns, said Vienna architect Reinhard Demel for the group today.
    The Louka Monastery was offered for sale by the Office for State Representation in Property Matters most recently in July, during the fourth round of the tender. However, even at the price of 54.9 million crowns, a buyer was not found at that time. The price had gradually decreased in the individual rounds of the competition from the original 160 million crowns. "It is likely that the fifth round will not be announced at all and the sale of the monastery will be postponed," said office spokesperson Jana Rennerová at that time.
    Now the office may announce the fifth round; according to Demel, the investors have already negotiated with the office about it. They should know more within three weeks, he added.
    According to Demel, the international group is backed by investors from Saudi Arabia and Egypt, who operate similar facilities in Dubai and Rome. Demel is expected to design the reconstruction. He reportedly has experience with similar buildings at the office Pointner Pointner Architekten.
    According to the investors, a hotel targeting both regular tourists and corporate clients could operate within the extensive complex of the Louka Monastery. Inside, wellness centers, including pools, restaurants, and conference spaces could be established.
    According to a project commissioned by the Znojmo city hall a few years ago, the Louka Monastery would be suitable for conference and educational purposes. Cultural events could also be held there, which the current buyer is considering as well.
    The state has been trying for several years to find a new use for the 12th-century monument. So far, unsuccessfully, among other reasons due to the costs of necessary repairs. The Ministry of Culture has previously estimated these costs at 600 to 800 million crowns. Last year, the Memorial of National Literature was also interested in the extensive property. They considered whether to relocate several of their storage facilities there. However, they ultimately abandoned the idea due to the great distance from Prague and the condition of the monastery.
    The monastery is mostly unused today. Only the wine center of Znovín Znojmo operates in part of the building. In the past, the monument served the engineering academy and the army.