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Attributes

Land Area

Property Description

Unique opportunity for an investor to acquire a property ideal for a hotel reconversion in Bucharest. With a GBA of 8,642 sqm GBA, the current building has a redevelopment plan for a 126 – 150 keys upscale hotel in place. The asset is located at 150 meters from the famous Calea Victoriei, the main promenade street of Bucharest, and is part of the Central Business District (CBD) of the city, being at less than 10 minutes walking distance from Victoriei Square. Offered for sale by RP Estates Development, through an asset deal with the benefit of a freehold interest in land and building and with the Building Permit already secured. Griviței represents an unique chance to own an asset excellently located in Bucharest, the capital city of one of the fastest growing countries in Europe.

Investment Highlights

Hotel reconversion building with all the permits in place…


* Building Permit obtained for the reconversion of the existing office edifice into a hotel

…with an excellent location…


* Bucharest Central Business District and the main lifestyle destination of the city – Calea Victoriei and the Old Town within walking distance

…huge redevelopment potential…


* 8,642 sqm GBA on 8 floors located on a 1,744 sqm land plot with a clear title

…with no major restrictions


* Possibility of between 126 and 150 keys at international standards depending on the hotel operator requirements

Last Updated Date: 30 Jul 2020
Andrei Drosu
Andrei Drosu
Research Consultant Capital Markets
Andrei Vacaru
Andrei Vacaru
Head of Research & Consultancy - Romania

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Last Updated Date: 30 Jul 2020