The Victoria Palace building on Vítězné náměstí in Prague, known for its unique building envelope design, has been successfully completed and approved. From an architectural standpoint, it respects the layout of Vítězné náměstí with elements of modern 21st-century architecture. The building offers 92 apartments in a very high to luxury standard, as well as new shops and services on the ground floor of the building. It is the first new building on Vítězné náměstí in 87 years.
The effort to fill the gap and temporary parking lot on the northern corner of the square took more than 15 years. The construction project on this site was acquired by the Kaprain group in 2016, which also brought in the partner Penta Real Estate in the same year. The architectural design of the building by Jakub Cigler Architects received support from authorities and the public. The design combines contemporary modern architecture with the original First Republic plans of architect Antonín Engel, who aimed to give Vítězné náměstí a neoclassical palace appearance. Victoria Palace fully respects the shape of Vítězné náměstí and its height and roof shape also blend in with the surrounding buildings.
„On this site, there was a long-neglected space and a never-completed city block. The building we designed is city-forming, adding new quality to its surroundings. During the project preparation, we agreed with Prague 6 District and other partners to also continue the commercial promenade along Vítězné náměstí. Therefore, commercial spaces and facilities for new services or a café were created on the ground floor of Victoria Palace,“ says David Musil, Managing Director of Penta Real Estate for the Czech Republic.
„A residential project that so naturally combines top-notch architecture, luxurious finishes of all apartments, and a beautiful location with views of Vítězné náměstí, Prague Castle, or Ořechovka is absolutely unique in Prague. It is no wonder that there was great interest in it from the very beginning, and today the building is 85% sold out,“ explains Jan Kozler, Development Director at Kaprain Group.
There was also enormous interest in the commercial spaces of the building, which were fully leased well in advance. Several shops will be located on a total area exceeding 1900 m2 on the ground floor. Among them is a new Albert store, which will start operating on July 3rd.
„The nearby branch of Česká spořitelna bank, O2 phone operator, and Dr. Max pharmacy have also moved to the new, more modern spaces. All stores have already started operating. They will be complemented by the popular café chain The Miners at the beginning of summer,“ says Lenka Fajmanová, Leasing Manager at Penta Real Estate.
„The building has three main features. The first is the facade slats made of aluminum and glass-cement, which, due to their complex shape and price, were probably the most challenging aspect we faced in the project. Another is the two-story entrance lobby with a reception operating around the clock, entirely clad in Italian travertine, and the ceiling is lined with a chandelier made of nearly a thousand pieces of rough crystals from Preciosa. The main attraction for residents is the garden full of greenery and a water feature dominated by a 25-year-old tree imported from the Netherlands,“ says Michal Kotrč, Senior Project Manager at Penta Real Estate.
The building also offers an above-average number of parking spaces in 2 underground levels, including the option for electric charging.
Several Czech companies and creators contributed to the building or its interiors, including the glass company Preciosa with unique lighting in the entrance hall made of rough crystals: Raw Crystal | A Sparkling Universe | Preciosa Lighting.
The most visually striking element of the building is its facade made of aluminum slats. Their price, due to an inflationary wave, soared to over 150 million Czech crowns. The total construction costs exceeded 850 million Czech crowns.
Victoria Palace is not the only joint project of Kaprain and Penta groups on Vítězné náměstí. They will continue with the Sekyra Group on the neighboring Fourth Quadrant. „In the coming years, we will continue with construction on Vítězné náměstí in the adjacent Fourth Quadrant. Just like with Victoria Palace, we will proceed with maximum respect for Antonín Engel’s original urban plans,“ concludes František Dombek, Investment Director of Kaprain Group. In an international architectural competition for development in this location, the Dutch-Czech team Benthem Crouwel.Architects and studio OVA succeeded last year.
Author: Penta Real Estate, press release