Manoral Global acquires former Komerční banka branch in Smíchov

The former Komerční banka branch in Prague’s Smíchov has been acquired by Ústí-based company Manoral Global, owned by entrepreneur Radko Vrbík. Designed by renowned architect Karel Prager, the brutalist-style building, shaped like a truncated pyramid, was no longer suitable for the bank’s needs. The purchase price has not been disclosed, according to a report by the e15 server.

“We have sold it and are glad that the building is set to have some further life and hopefully a noble purpose. For us, it was no longer suitable; over the years, the building became inadequate for us,” said Jan Juchelka, CEO of Komerční banka. He noted that the Smíchov branch had been one of the bank’s least efficient properties in Prague, and the local team was “extremely happy” to have moved to a more modern space.

The new owner has not yet revealed future plans for the site. However, Zdenka Klapalová, head of the Czech branch of British real estate firm Knight Frank, suggested that the commercial nature of the building may lead to a similar function as in the past. Knight Frank served as Komerční banka’s advisory partner in the transaction.

The two-story structure, originally envisioned in the 1970s as a headquarters for the State Bank of Czechoslovakia, was completed in 1992. Komerční banka acquired it in 1993 and operated a branch there until 2022. Over the years, the building has drawn mixed reactions from both professionals and the public.

Karel Prager, one of Czechoslovakia’s most significant 20th-century architects, left a controversial mark on Prague’s skyline. His Research Institute of Macromolecular Chemistry in Břevnov was declared a cultural monument in 2000, yet many of his other projects have sparked divisive opinions. These include the former Federal Assembly building, the New Stage of the National Theatre, and the Smíchov bank branch.

Prager’s work also included the reconstruction of the Rudolfinum and the U Kříže residential complex in Jinonice, which won the Building of the Year award in 1999. As the fate of the Smíchov building unfolds, it remains to be seen whether it will retain its architectural legacy or undergo a dramatic transformation under its new ownership.

Source: CTK and e15
Photo: Wikidata