Fifth attempt to sell Prague’s Veleslavín Chateau begins today

The Office for Representation of the State in Property Matters (ÚZSVM) will today launch its fifth attempt to sell the Veleslavín chateau in Prague. The electronic auction opens at 10:00, with a minimum starting price set at CZK 303.45 million. To secure the sale, at least one bid must be placed within the 24-hour auction window.

Despite multiple attempts, the property has yet to attract a buyer. Neither the City of Prague nor the Prague 6 municipal district has accepted prior offers to purchase the historic site at the listed price, and both will again have the right to match the highest bid in this auction round if they choose.

Previous efforts to include the chateau in a broader property exchange between Prague and the state were unsuccessful, and the city’s request for a free transfer was rejected. Although the starting price has been gradually lowered from its original CZK 580 million, no bids have been submitted in earlier auctions.

The ÚZSVM is currently offering around sixty properties in ongoing auctions, with the Veleslavín chateau among the most prominent. Another high-profile property on the block is the Štiřín chateau, listed for CZK 884.34 million. However, auctions for high-value real estate have faced challenges recently, with the Štiřín chateau and the Prague Broadway Palace also struggling to find buyers.

Notably, the sale of Prague’s U Hybernů building for CZK 447 million in March marked a rare recent success, becoming the second most profitable sale in the property office’s history.

Source: CTK
Photo: WIKIDATA