Penta bought the site of the former Nusle brewery

Author: ŠJů, Wikimedia Commons, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=25755411

Prague - The area of the former brewery in Prague's Nusle has been acquired by the investment group Penta. They plan to build a new neighborhood on the site for two billion crowns. This is reported by today’s Hospodářské noviny. The price that Penta paid for the three hectares of land in the broader city center was not disclosed.

The completion of the acquisition was confirmed by group manager Michal Nečesánek. "We managed to consolidate three hectares of land from three independent owners, and thanks to that we now control the entire area," Nečesánek told Hospodářské noviny.

According to real estate advisers contacted by the newspaper, the purchase price could have ranged from 150 million to 400 million crowns, but it could have been higher as well. Penta acquired the largest portion of the property from Prosperita holding.

The land includes a protected historical building of the former Nusle brewery, which could offer approximately 10,000 square meters of usable space after reconstruction. Penta plans to demolish the remaining buildings on the site and build hundreds of apartments in their place. The reconstruction could begin within three years, according to Hospodářské noviny.

Penta is a Central European investment group, founded in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, and real estate development. The group operates in more than ten countries in Europe and has representations in Prague, Bratislava, Warsaw, and Munich.

In Prague, Penta developed the Florentinum administrative complex, which it sold last year to the Chinese group CEFC. In the capital, it also owns the Aviatica office complex in the Waltrovka area in Jinonice. It will gradually complement it with apartment buildings and family houses. This year, Penta plans to start construction on the land between Masaryk Station and Florenc, where it intends to build a complex of administrative buildings with shops and restaurants, as well as a park designed by architect Zaha Hadid.