Tender for Ghica-Gradisteanu Palace

Ghica-Gradisteanu Palace, located in Bucharest, is offered for sale in a public tender by the Banking Assets Resolution Agency (Agentia de Valorificare a Resurselor Bancare – AVAB).

The starting price of the tender amounts to 59.3 billion lei (that is, approximately 2.5 million dollars). The palace used to belong to the company World Trade Center Management Romania.

“This palace presents interest. There are enough companies that may be willing to purchase such a building. It has a very good location,” Alexandru Nitescu, from Regatta real estate company, told Ziarul Financiar.

In his opinion, the amount of 2.5 million dollars “is not far-fetched,” if the assessment is based on the value of the building and of the land. “If we take into account the historic value of this palace as well, the sum may be somewhat higher,” Nitescu added.

The public tender will be organised on September 25 at the headquarters of the Banking Assets Resolution Agency. The guarantee that has to be submitted for the tender amounts to 2.96 billion lei.

Ghica-Gradisteanu Palace is made up of two buildings covering a surface of 3,456 square metres. The land that comes with the buildings spans an area of 1,506 square metres.