Lidl to Open New Store in Na Příkopě Street

Lidl has announced plans to open a new store in the center of Prague as part of an international expansion.

The German discounter will use the premises of the historic building, the former headquarters of the Czechoslovak Commercial Bank.

Lidl expects to open the new shop in the middle of the year, it said in a press release today. Na Příkopě Street is ranked as the 20th most expensive street in the world by Cushman & Wakefield.

The grocery store will be spread over an area of 1140 square metres. “The setting of the store in these unique spaces is a challenge for us and we believe that the new store will simplify life especially for residents of adjacent neighborhoods, but also for employees and tourists who do not have access to a grocery store in their immediate surroundings,” said Lidl spokesperson Tomáš Myler.

The building on the corner of Na Příkopě and Panská streets was renovated by Immofinanz and Lordship about ten years ago. It offers commercial and office space as well as underground parking.

In the past, there was a house called U tří lip on this site, where the writer Božena Němcová died in 1862. In the 1930s, it was replaced by a new building, which became the headquarters of the Czech Industrial Bank.

“We will continue to bring our offer of great quality products at an unbeatable value to even more communities across the country,” added Myler.

Lidl currently operates 289 shops in the Czech Republic.

Na Příkopě street

Prague’s Na Příkopě street advanced to the 20th place in the ranking of most expensive shopping streets, based on rent, according to a study by consultancy Cushman & Wakefield.

This is the first time Na Příkopě made it into the top 20. In the previous ranking, it was in 22nd place.

The average monthly rent per square meter amounts to 230 euros, or just under Kč 6,000, an increase of 5 percent year-on-year.

The most expensive street worldwide was Causeway Bay in Hong Kong, returning to the top spot after five years, and the upper part of Fifth Avenue in New York City dropped to second.

New Bond Street in London was the most expensive street in Europe, and third in the global ranking.

Cushman & Wakefield annually evaluate 446 of the most popular shopping destinations in 65 countries each year. The ranking lists the most expensive street in each country.