Bellevue Palace on the Prague embankment was acquired by Křetínský's company EP Real Estate

Bellevue Palace on the Prague embankment was acquired by Křetínský's company EP Real Estate

The Bellevue Palace on the Prague waterfront won the Cretan company EP Real Estate

Bellevue Palace on Prague's Smetana embankment (pictured on November 28, 2019).

Prague – The Bellevue Neo-Renaissance Palace on Prague's Smetana embankment was acquired in a tender by EP Real Estate (EPRE) from the EP Corporate Group controlled by Daniel Křetínský. Company spokesman Daniel Častvaj told ČTK today. Křetínský's company won the selection process, which was organized by the insolvency administrator of the Francesco company, which is part of Arca Capital's portfolio, which is insolvent. The spokesman did not disclose how much EPRE paid for the palace. According to the server Seznam Zprá, it was 411 million CZK.

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“As can already be seen from the holding headquarters in Pařížská street, we have a weakness for places with genius loci. The Bellevue Palace is undoubtedly such a place, which can be proven, for example, by the fact that Oskar Kokoschka created unique paintings in the studio in this building Prague. Jiří Trnka also had a studio in the building,” said EP Real Estate CEO Jiří Nováček.

The three-winged house is located by the Vltava with a view of the Charles Bridge and Hradčany. Among other things, it houses the Bellevue restaurant and there were painting studios under the roof of the house. “We were excited by the place, but at the same time, the object concerned us with its neglected and dilapidated state. We would like to bring it back to life in a multifunctional form – especially by creating extraordinary residences, but also by restoring commercial functions on the ground floor,” added Nováček.

< p>The house was built in the middle of the 19th century according to the design of the architect Konstantin Mráček in the style of the Dutch Neo-Renaissance.

EP Real Estate primarily prepares the real estate of the EPH group for subsequent transformation. Acquisition opportunities are not limited to the transformation of original operations. The EP Corporate Group holds 56 percent of EP Real Estate as of January 1, 2023. The remaining 44 percent is controlled by J&T Capital Partners of founder Patrik Tkáč. EP Real Estate controls roughly 520,000 square meters of land in Prague and Brno, making it one of the largest landowners in the Czech Republic.