Prague monastery building goes under hammer for 790 million crowns

30-09-2015 updated

The reserve price of 790 million crowns was offered in an auction of a choice piece of real estate in the centre of Prague on Wednesday. One foreign bidder, whose identity has not been revealed, made the offer for the former monastery building on Náměstí Republiky. The building, oned by the state, has long been largely abandoned. The buyer has 60 days to pay. The building carries a conservation order which could limit its future uses. The monastery was founded by Irish monks in the 16th century.