Former Continental Hotel in Cluj on sale for 15m euros

Businessman Dorel Tamas, owner of the Continental Hotel in the centre of Cluj-Napoca, via Ardeleana, based in Alba Iulia, could collect 15 million euros for the building, after it is turned into a shopping gallery. “So far, six companies are interested in acquiring the former hotel, and we hope to seal the deal with one of them in the coming period. Since no final decision has been made so far, the names of these investors cannot be revealed, but the selling price of the building is around 15 million euros,” Doru Lupeanu, marketing manager of Grup de Lux real estate agency, which handles the transaction, told ZF. The hotel was purchased by Ardeleana in 2005, while the value of the transactions has not been revealed. This year, the Alba Iulia-based company has secured all the necessary permits to turn the Continental Hotel into a place that houses luxury shopping galleries, with the estimated investment amounting to around 5.5-6 million euros.