State sells historic Prague property U Hybernů for CZK 447 million

The Office for the Representation of the State in Property Matters (ÚZSVM) has successfully auctioned the historic House U Hybernů in central Prague for CZK 447 million. The property was sold in the first round of the electronic auction, marking the second-highest transaction in the history of the property office. Only the sale of a site on Republic Square, which fetched CZK 790 million, has surpassed it.

Two applicants registered for the auction, but only one submitted a bid—matching the starting price—shortly before the auction closed. No additional bids were placed. ÚZSVM confirmed the winning bidder is a legal entity based in Prague, but further details were not disclosed. The transaction will proceed once approved by the Ministry of Finance.

The U Hybernů building, located opposite the Municipal House, has a layered history. Originally a Baroque church belonging to the Irish Franciscans, it was converted into a customs office in the early 19th century and later served as an exhibition space. A major renovation in 2006 saw the addition of a modern theatre, currently home to the Hybernia Theatre, which holds a lease until 2055.

ÚZSVM acquired the property in late 2024 from the State Culture Fund. After offering it to other public institutions without interest, the office moved forward with the public auction process.

While this sale concluded successfully, other recent high-value property auctions have not. Attempts to sell Prague’s Veleslavín Castle (CZK 357 million), Štiřín Castle (CZK 1.156 billion), and Broadway Palace (CZK 878 million) have all ended without bids.

Source: CTK
Photo: Wikipedie