usenetposts
24.07.05, 14:02
www.usenetposts.com/iglice.htm
I promised a friend, who owns this, that I'd help him sell it. He hasn't got
the cash necessary to invest in the refurbishment the building deserves, so
he's ready to let it go to someone who does, but he prefers to sell to
someone with a track record of making fine hotels, as he obviously feels a
lot of affection for it, and wants to 'do right' by it when he sells it.
That's why the price will be very reasonable, for a buyer with credible
plans to bring the property up to potential.
To give you an idea of the background, the place was obviously built and
used by German nobility when this area of east Pomerania was German. After
communist Poland got hold of it, they disregarded it and didn't put any
investment in, as it was never too certain to people at that time whether
the territorial gains given to Poland after the war would be Polish for
ever. In fact, they used it as a "poprawczak" or what the British would call
a borstal. That's a sort of punishment school for hooligans. Obviously it
was vandalised, and after the changes it was abandoned, not heated for
twelve years, and there is damp and mildew throughout the interior, and
anything moveable, including precious flooring materials, wainscotting,
piping, wiring, etc, has been stripped out by thieves. It therefore needs a
complete refurbishment, at a cost of around 5 million dollars.
It should then pay back in around twelve years.
The current asking price for the whole land and buildings freehold is only
about 10% of the investment that needs to be made to produce a viable high
class hotel on this estate.
If you know anyone who wants to do a hotel in Europe, or has any other plans
for a great pad like this, then please let them have the link.
Best,
Uncle Davey