Prague is negotiating the purchase of a plot on Veletržní Street

Prague - The leadership of Prague is negotiating with the company Lordship about the purchase of a construction pit on Veletržní Street in Prague 7. Petr Dolínek (ČSSD), the deputy mayor, told the Czech News Agency today. He did not disclose the price at which Prague would buy the construction lot. A parking lot could be developed inside the construction pit.

On the site between Veletržní and Strojírenská Streets, Lordship planned to build the Palác Stromovka shopping gallery. However, Prague 7's local government previously opposed the construction. "We are therefore negotiating with the owner of the lot for its purchase. However, it is currently impossible to predict when the negotiations will conclude," Dolínek said. He did not want to comment on the amount being negotiated.

According to Dolínek, a subterranean parking garage could be built instead of the shopping gallery with apartments that was planned for the site. What would be on the surface is not yet clear. "We would agree on that with Prague 7," he said.

In the past, local residents and the current leadership of Prague 7 have opposed the construction. For example, they are concerned about the project's size, which they believe would worsen traffic conditions in the area.

Prague 7 signed a lease agreement for the land in 2002 with the company SEN Development. In 2006, the project was acquired by the British company Lordship. The Stromovka Gallery has a valid construction permit for the construction of garages as well as for the above-ground part of the project. Lordship has been renting the land from Prague 7 since 2002. The contract is for 105 years, and after that period, the construction will transfer to the ownership of the city district. The city receives five million Kč annually for the land.