Marketplace for Hotel Tourism & Leisure Real Estate
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FOR SALE - Heritage hotel building - City Center - Bucharest

MIDSCALE 209 keys

Historical heritage hotel building in the very heart of Bucharest.

Premium location on Magheru Boulevard between University Square and Romana Square.

Top visibility.

updated: July 2017

 

EUR 16,500,000

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OFFERED BY: BROKER

keys: 99+110=209

stars/type: MIDSCALE hoTEL

storeys: b1+g+12

built sqm: 12845

BUILDINGS FOOTPRINT SQM: 1082

HISTORICAL FACTS:

  • The proposed building is in fact the right side, not yet renovated, of a larger historical building erected in 1937 by the German army as the central commandment unit in Romania that later became the Ambasador Hotel after WW2. The left side belongs to one set of owners and is currently on the market as a renovated independent midscale hotel with 99 keys: AMBASADOR (the 4 star 99 keys have returned on the market in 2013 after a EUR 3 mil. investment);
  • After nationalization during the communist regime, the entire building functioned as a 207 keys hotel. It was privatized in 1996;
  • In June 2014, finally a long trial came to an end between the privatization shareholders of the entire Ambasador hotel and the descendants of the original shareholders. Half the building (right side) returned to the descendants of the original shareholders and also for sale.      
  • The building is an architectural monument and is included in the Romanian registry of protected buildings.   

Contact sell-side BROKER oF BOTH LEFT AND RIGHT SIDES OF THE BUILDING