Klotild Palace In Budapest Sold To Turkish Buyer
- 21 Aug 2014 9:00 AM
The Fifth District held an extraordinary meeting last Friday to approve the sale of the southernmost of the two Klotild Palace buildings on downtown Ferenciek tere to a Turkish investor for Ft 2.15 billion.
The buyer, Melis Investment, part of Turkey’s Özyer Group, probably plans to open a hotel in the building.
The council said the building had to be sold because it needs urgent renovation, which will cost an estimated Ft 2 billion. The buyer agreed to renovate the building completely within five years.
Source: Hungary Around the Clock
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