Redstone wins auction for Hanácké barracks in Olomouc with CZK 89.1 million bid

The Redstone Group, co-owned by businessman Richard Morávek, has emerged as the winning bidder in the electronic auction for the Hanácké barracks in Olomouc, securing the historic property with a bid of CZK 89.1 million. The auction, which had a minimum price set at CZK 89 million, saw two contenders, but only one bid was made. The Office for State Representation in Property Affairs (ÚZSVM) will now offer the city of Olomouc, the region, and Palacký University the chance to match the winning bid, enabling them to acquire the barracks themselves.

“We confirm that we are the highest bidder for the Hanácké barracks,” said Petr Hlávka, spokesman for the Redstone Group. He emphasized the strategic location and significance of the barracks in the heart of Olomouc. “It’s important that the owner is a local entity with knowledge of and ties to the city,” Hlávka added, noting that Redstone plans to collaborate with leading architects to determine the best future use for the barracks. He also expressed openness to discussions with the city, region, and university on potential cooperation.

Redstone Group, which focuses on development projects in Olomouc, Prague, and Pardubice, has a significant presence in Olomouc. The company is behind major developments such as the Galerie Šantovka shopping centre, the East Park warehouse complex, and a sanatorium for long-term nursing care. Future plans include building a new urban district and a multifunctional hall on former military warehouse land.

The sale of the Hanácké barracks, which has been in the works since September 2021, is a significant milestone. While the Olomouc Region, City Hall, and Palacký University previously expressed interest in the property, the poor condition of the building and high renovation costs, estimated at CZK 815 million in 2020, have made acquisition challenging. As a result, the regional council rescinded an earlier resolution that would have allowed these entities to take over the barracks for free.

ÚZSVM spokesperson Tesařová confirmed that the agency has granted a request from the city, region, and university to match the winning bid. They now have 30 days to make their decision. If they choose not to match the CZK 89.1 million bid, Redstone will move forward with its acquisition.

Palacký University spokesperson Egon Havrlant stated that the university is monitoring the situation and awaiting the formal announcement, while regional spokeswoman Alena Minxová offered a similar response, indicating that both institutions are carefully evaluating their options.

The Hanácké barracks, which were used by the military for 170 years until 2013, have remained vacant since then. The ÚZSVM took over the property from the Ministry of Defence in 2017, and the government approved its sale in 2020. The building, a listed heritage site, features over 2,000 square meters of office space, making it a valuable but costly asset.

Source: CTK