The repaired Machoň Passage is almost fully occupied after the repairs

Pardubice - Apartments and non-residential spaces in the heritage-protected Machoň Passage on Míru Square in the center of Pardubice are nearly fully occupied eight months after the completion of extensive renovations. This meets the expectations that the city company Development Fund Pardubice had promised from the repairs, said director Martin Charvát to ČTK. The only weakness is the restaurant in the basement, which has not yet found a tenant.
    "Unfortunately, we are having difficulty finding an operator for it. They are deterred by the planned reconstruction of Míru Square," Charvát stated. On the other side of the passage, there is a café, which is, however, located above ground.
    The fund is now also going to conclude lease agreements for two non-residential spaces in the passage that were recently vacated. All the apartments located in the passage have residents, except for one. The fund is also completing repairs on three more apartments in the attic of the building.
    "We have a standard occupancy rate that is currently typical in the real estate market. Overall, the company is doing very well," Charvát said. In addition to the passage, the fund owns and manages several other commercial properties, the largest of which is the ČEZ Arena.
    The building, designed by architect Ladislav Machoň in the art deco style, was completed in 1925 and was inspired by Parisian passages. It is illuminated by a rounded roof made of frosted glass. The reconstruction and extension of the passage took two years and cost 182.5 million crowns without VAT. During the repairs, many original elements had to be replaced with copies, while shop windows and stairs with metal railings were preserved.
    The Development Fund Pardubice ended last year's financial year with a loss of approximately 19 million crowns. According to the city's leadership, this result was particularly caused by the costly repairs of the passage. The fund took out a loan of 150 million crowns for the project, paying the rest from its own resources. The financial performance was also negatively affected by a year-on-year decline in rental income from residential and non-residential spaces.