The state will attempt for the sixth time to sell the National House in Prague's Vinohrady

Prague - The Office for the Representation of the State in Property Matters (ÚZSVM) will attempt for the sixth time today to sell the National House in Prague's Vinohrady in an electronic auction. The property on náměstí Míru is offered for 523 million crowns, having reduced the price by 92 million crowns from the last unsuccessful attempt in mid-September. The capital city will have the opportunity to match the highest bid. The electronic auction will last until Friday.

Interested buyers must deposit a security of 20 million crowns no later than the day before the auction. For the auction to be considered successful, at least one bid must be made at or above the starting price. Further bids can be made in increments of at least 50,000 crowns.

The property office took over the National House in Vinohrady at the end of 2024 from the State Fund for Culture. Since no state institution showed interest in the property, the office offered it for sale at auction. However, no bidders registered for any of the five rounds of bidding.

The National House in Vinohrady was built between 1893 and 1894 according to the design of architect Antonín Turk. The neo-Renaissance building has four above-ground and two underground floors. It contains three large representative halls and four social lounges. Currently, the house is primarily used for holding balls and other social events. Until mid-2032, the house is leased to the company Národní dům-Kulturní dům železničářů.

Two weeks ago, the auction of the Broadway Palace in downtown Prague successfully concluded, with a bidder offering the starting price of 878 million crowns. This marks the most profitable sale that ÚZSVM has executed. The property office will now offer the current tenant the chance to match the offered price. If the tenant does not do so, the palace will go to the auction winner. Previously, the highest amount raised by the office was from the sale of the complex at náměstí Republiky in Prague, which brought in 790 million crowns. The third most successful sale was this year's auction of the U Hybernů house on Prague's náměstí Republiky for 447 million crowns.