Classical Palace in Bucharest

Palace Surface Area:1.884 m2 (Distributed in 2 levels, semibasement and garage) Land Surface Area: 3.115 m2 Allowed Residual Edification Above Ground (Not consumed): 2.907 m2 distributed in 4 levels + Atic (Verified with Bucharest Town Hall).
6.950.000,00 €

Investment in a unique Classical Palace and surrounding land in a highly privileged area in the centre of Bucharest. The Palace is located on one of the Principal Avenues of the city of Bucharest, 150 meters from the Parliament, in the Diplomatic District and surrounded by representative buildings and gardens. The Palace and gardens are in a perfect state of conservation requiring only minimal paint and floor restoration works (until a few months ago the palace was an embassy´s headquarters in Bucharest).

- Property value on 20th of December of 2005 as appraised through Official Valuation performed by TASAMADRID (official documents available upon interest): 8.971.600,00 €.

- Investment Operation Particularities:
Completion of purchase payment should be formalized before 07.02.2006.
Additionally, and due to the residual, non-consumed edificability above ground on the plot of land, there currently exists an Agreement with a Romanian company that contemplates the possible development of a joint project on the land described as well as on the adjacent plot of land (the margin of benefit could be even larger if the Romanian partner obtains the edificability conditions for his land).