Ocna Sibiului spa complex to be auctioned. Starting price: EUR 1.855m

EUR 1.855 million, VAT excluded, is the starting price for the sale auction of the spa complex in Ocna Sibiului, a private complex closed down at the end of 2013, turnulsfatului.ro informs.

The auction is to be held in Bucharest by the receiver EDGE Business Restructuring Advisors SPRL, whose representatives out up for sale this complex in July 2014. Then, the starting price for the auction was EUR 2.9 million, VAT excluded.

Two hotels in the complex (Helios and Salinas) are for sale, along with the historical building for hot baths, administrative buildings, swimming pools and sports grounds, and almost 20,000 sq m of land. The complex has an accommodation capacity for 148 people, with another 220 seats in restaurants, plus 140 seats for spa treatments.

The auction is scheduled for Friday, May 8, at the headquarters of the judicial liquidator in Bucharest.

According to an assessment commissioned by the insolvency administrator to the company Valor SA in May 2013, the market value of the complex from Ocna Sibiului is of EUR 3.97 million. Upon the request of the Romanian Commercial Bank – BCR (main creditor, entered in the list of creditors with over RON 24 million), Valor SA has calculated a market value “in the event of forced sale, fit for insolvency purpose and similar to the nonstandard type of liquidation value”. The liquidation value was estimated to about EUR 2.9 million, an amount no one was willing to pay at the previous auction.