Development company Coast Capital Partners (CCP) has acquired U Červené lišky, a six-hundred-year-old house in Old Town Square, from private owners.

The investor paid CZK 500m, or CZK 230,000/sqm, for the two-story Romanesque building with a small tower. Prior to this, no buyer has ever paid so much for a house in the Czech Republic.

“The building is remarkable not only for its location but also its exceptional capacity. After the completion of the reconstruction, there will be about 2,000 square meters available”,– said the co-owner of CCP Daniel Aalsvel.

According to him, the reconstruction of the building will start this year, in cooperation with the Municipal Department for the Protection of Cultural Monuments.
“We respect the historical significance of the house and do not plan to open a McDonald’s or a hotel here. We want to create a unique space that will serve public purposes”, – added Alsvel.

House U Červené lišky was built in 1401. The house has gone through several renovations, most of which focused on the interior, the last was in 1993. The building previously housed a branch of KB bank, but it is currently vacant after the bank vacated the ground-floor unit.

Photo: Michal Kmínek [CC BY-SA 3.0 ], via Wikimedia Commons
Photo: Michal Kmínek [CC BY-SA 3.0 ], via Wikimedia Commons