PSN Acquires Brno Office Building for Residential Use

Czech real estate company PSN has completed the acquisition of an office building at Botanická 56 in Brno's Veveří district.

The seller was Safichem Group, whose tenant Aquatis continues to occupy the building under existing arrangements unchanged.

The deal is the latest step in PSN's stated long-term ambition to build a significant portfolio in Brno, and it comes with a clear end game: converting the property into residential use, with planning provisionally scheduled to begin around 2029.

What the Acquisition Covers

• Property: office building at Botanická 56, Brno-Veveří district
• Seller: Safichem Group
• Current tenant: Aquatis, continuing under existing lease terms
• Future use: residential conversion, subject to further analysis
• Conversion planning timeline: provisionally 2029

Petr Pospíšil, director of PSN Brno, described Botanická 56 as an attractive location with interesting long-term potential, adding that the acquisition is a concrete step in the company's ambition to grow and build a strong portfolio in Brno over time.

He also highlighted the constructive approach of Safichem Group throughout the process.

Lucie Svobodová of Safichem said the sale was the result of a long-term strategic decision and expressed confidence that the new owner would put the property and its location to good use.

PSN's Expanding Brno Footprint

The Botanická acquisition adds to a growing PSN presence in the city. The company is currently developing the mixed-use Brno Jedna district and is preparing residential projects at three further locations:

• Komárovské nábřeží
• Juliánské náměstí
• Brno-Cejl area

The pattern is consistent: PSN is building density in Brno across multiple sites simultaneously, with a mix of active development and longer-horizon acquisitions that will convert as the market and planning conditions allow.

Also Read: Newmark Buys Valuation Firm to Expand Across Europe

A Developer With Deep Czech Roots

PSN has operated in the Czech real estate market since 1991. Its national portfolio extends beyond Brno to Prague, Pardubice and Hradec Králové and includes landmark assets such as the Dancing House and the City Empiria skyscraper.

The office-to-residential conversion model fits a broader European trend of developers repositioning legacy commercial stock in well-located urban districts where residential demand is outpacing supply and new-build land is scarce.

Brno's Veveří district, close to the city centre and universities, sits squarely in the kind of location where that equation makes sense.

The conversion itself remains subject to further analysis and project preparation, but the acquisition has secured the address. The rest will follow.

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