The Office for the Representation of the State in Property Matters (ÚZSVM) will offer Veleslavín Castle for sale for the fifth time in an electronic auction beginning on 6 May at 10:00 a.m. The starting price has been reduced to CZK 303.45 million, down CZK 53.55 million from the most recent attempt in March. Previous auctions attracted no bidders. Those interested in participating must submit a deposit of CZK 15 million by the day before the auction begins. Bids can be placed in increments of at least CZK 50,000 during the 24-hour auction period. If the auction is successful, the capital city of Prague and the Prague 6 district will be given the opportunity to match the highest bid. The state previously proposed including Veleslavín Castle in a real estate exchange with the city, but the negotiations did not result in a deal. A request from the city for the property to be transferred without payment was rejected. Although the property’s price has steadily declined from an initial CZK 580 million, earlier offers to the city and Prague 6 were declined on the grounds that the valuation was still too high. Veleslavín Castle, which includes a historic park, spans approximately three hectares and dates back to around 1725. It was designed by architect Kilián Ignác Dientzenhofer for Empress Amalia of Brunswick. In the early 20th century, the site served as a neurological sanatorium established by Leo Kosák and Oskar Fischer, a co-discoverer of Alzheimer’s disease. Notable patients included Charlotta Garrigue Masaryk and Milena Jesenská. The property was nationalized after the 1948 communist coup and later rented out to various institutions. It has been under the administration of ÚZSVM since 2015, following its transfer from the Ministry of Labour and Social Affairs. The last major renovation of the complex took place in 1986. Currently, parts of the site are on loan to Prague 6, which opened some of the premises to the public last year. ÚZSVM is currently offering 47 state-owned properties for sale via public auctions. The most expensive property on offer is the Štiřín Chateau in Central Bohemia, listed at CZK 982.6 million and scheduled for auction next week. In March, the office completed the sale of the U Hybernů House in Prague for CZK 447 million, marking the second highest sale in the agency’s history. Source: CTK Photo: Wikidata