Karlín barracks repeatedly fails to sell

The Ministry of Defense has announced the failure of a tender to sell a large disused army barracks complex near the centre of Prague. No bids were made in a Tender that opened at 620 million crown. (Approx. 22 million Euro)

“Demand must meet with the supply. Unfortunately this time it just didn’t happen. We don’t enjoy it but do not consider it for any disaster either. Attempt to sell of such an important building was made with a maximum emphasis on transparency and publicity. “said Deputy Defense Minister Jiří Borovec.

First attempt to sell unused Karlín military complex had been cancelled by Ministry earlier this year. At the time, The Griva Art company made the highest bid for 600 million crown but Minister of Defence Martin Stropnicky insisted on a new tender due to transparency issues. Griva Art stated that it had plans to turn the complex into a new university campus.