Prague decides not to buy Jindřišská Tower

After several months of negotiations, Prague has decided not to buy the medieval Jindřišská Tower from the Prague Archdiocese, the Czech News Agency (ČTK) reported on Wednesday. Adam Zábranský, a Prague city councillor, told ČTK that this was due to the price being too high, the extensive repairs that the tower would require, and the long lease, which the current tenant has until 2044.

Mr. Zábranský said that the entire Prague city government were in agreement over the decision. The archdiocese wanted CZK 100 million for the tower, which the councillor says is twice as much as an expert surveyor determined it was worth.

The Prague Archdiocese made the decision to put the tower, which is part of the historic city centre of Prague on UNESCO's cultural and natural heritage list, up for sale last November. Prague City Hall was one of around 30 bidders interested in acquiring the property.