The Prague estate Kajetánka is awaiting reconstruction

Prague - The dilapidated estate of Kajetánka in the Břevnov district of Prague will undergo reconstruction of the baroque chateau and orangery. At the same time, a private investor will restore the park and build four apartment buildings. This was stated at today’s press conference by representatives of the Kajetánka project. The construction is expected to be completed in 2011 and will cost approximately one billion korunas.
    Of the billion koruna investment, approximately one-tenth will be allocated to the properties that will be transferred to the ownership of the Prague 6 district for a symbolic price of one koruna. This concerns the chateau and a large part of the English park with a pond, which will be opened to the public.
    The estate of Kajetánka was purchased in 2005 by the Irish investment group Quinlan Private from an Italian investor. Quinlan Private subsequently joined forces with the Israeli company Lapid Capital Venture Ltd., and together they have been working since 2007 to obtain a building permit. This permit was granted this May. The restoration of the historical buildings will be overseen by the National Heritage Institute.
    145 luxury apartments are planned to be built at Kajetánka as part of the project, with the developer estimating the lower price limit at 80,000 korunas per square meter excluding value-added tax. In addition to the apartment buildings, there will also be apartments in the former orangery from 1760.
    The use of the baroque chateau will depend on the plans of the municipal district. Preliminary discussions mention a social hall and a café. The new Kajetánka is intended to be a vibrant place similar to the new Ladronka, frequented by the public. For example, the developer is considering the construction of a children's maze.
    The history of the Kajetánka estate dates back to the 16th century. In the 17th century, there was a chapel here, and the place was a renowned pilgrimage site. The orangery and the small baroque chateau are from the second half of the 18th century. In 1948, Kajetánka was expropriated and served as a house for pioneers and youth.
    The Irish company Quinlan Private has been operating in Central and Eastern Europe since the late 1990s. The company entered the domestic market in 2000. Among the company's projects in the Czech Republic are office buildings in the Prague district of Nové Butovice or the residential project Modřanský háj. In the capital, the company also built a commercial and office center on Karlovo náměstí. The partner company Lapid Capital Venture has completed projects in Hungary and Lithuania.