Wants to invest - has to buy

The owner of Chopin hotel plans to increase its area and build an office building. The total cost of both investments is over 320 million zl

Cracow Chopin hotel's investor plans to increase hotel area and build a parking lot. Additionally, in the neighbourhood it intends to erect an office building. In order to make the investment possible, it needs to have the investment site fully at his disposal. This means that it has to, by way of open tender, buy the plot of land together with buildings, valued at close to 43 million zl - announced "Dziennik Polski"

The owner of lots at Przy Rondzie St. is the borough. The grounds have been given out for use for a 60 year period. Chopin hotel, which was created in 1993, would have to be handed over to local government together with the lot in 40 years. In order to avoid that the investor asked the district office to sell it the property or give it the right of permament usufruct. Because there is no possibility of selling a subject property without a tender, the investor will have to enter the procedure in which everyone interested in buying the plot of land can participate. The copartnership ha agreed to participate in a verbal tender.

Purchase of the lot is to be an additional safety measure of a project, under which around 66 000 sq. m. of modern area is to be created. Investment in expansion itself is going to cost close to 120 million zl. In turn, the execution of a 12-storey office building is estimated to cost around 200 million zl.

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