ZLATY LIHOVAR ANNOUNCES AN INCREASE IN THE NUMBER OF APARTMENTS
PLANNED FOR THE SITE, AND AIMS FOR FIRST PHASE OF DEVELOPMENT TO
START THIS YEAR

Prague, 29th February, 2016: Zlaty lihovar, a.s., the company that owns the site that was formerly known as the Zlichovsky Lihovar distillery, today announced that it has updated its original design concept for the residential development to include significantly more apartments than originally anticipated, in line with present market trends.

Talking about this change, Michael Barnett, the CEO of Zlaty lihovar, a.s. and representing the investor in the project Goldfin Investments Ltd., said:

Following on from a number of meetings with Prague based residential real-estate specialists and having commissioned a survey from Lexxus, we came to the conclusion that our original plan was out-of date and that the Prague residential market had developed significantly since we established our architect’s brief. We are now clear that our customers are likely to come from the 25-45 year age group, mostly upwardly mobile professionals who are looking for modern, high-tech and convenient living accommodation within an affordable price range. Our revised “design concept” ensures that we will be providing what the market is demanding; slightly smaller apartments than originally anticipated (resulting in some 620 flats) with more than 700 parking spaces, and on-site facilities to match requirements.

 
ZLATY LIHOVAR AIMS FOR FIRST PHASE OF DEVELOPMENT TO
START WITHIN 12 MONTHS

Prague, 11th November, 2015: Zlaty lihovar, a.s., the company that owns the site that was formerly known as the Zlichovsky Lihovar distillery, today announced that it aims to start the first phase of development within next 12 months, subject to approvals. 

The first phase is planned to be the external and internal rebuilding of what was originally called the ‘Varna’, the historically protected building that forms a focal part of the overall site and which was the original spirit distillery. Standing more than 24 metres tall and spread over 5 floors, the Varna building is one of two historically protected structures on the site, the other being the 50 metre high ‘chimney’. Various uses are still being evaluated for the Varna building.

Talking about this first phase of the development, Michael Barnett, the CEO of Zlaty lihovar, a.s. and representing the investor in the project Goldfin Investments Ltd., said: