Hotel Slavija Lux up for sale? – Estimated value EUR 5.94 million

Hotel Slavija Lux, located in the very center of Belgrade, might soon be sold at the price of EUR 420 per square meter due to an alleged debt determined by the Arbitration Council outside the court evaluation process, the validity of which is still being deliberated by courts, Danas reports.

According to the daily's writings, the first valuation of the state-owned facility was submitted by the civil enforcement officer Marko Vukicevic, while preparing an auction. He determined that the 7,000-m2 hotel, on of the three from the eponymous complex on the Slavija Square, was worth EUR 4 million. Following a reaction by the hotel management, the valuation was revised up to EUR 5.94 million.

Accordingly, the first auction would open with an initial price of EUR 4.16 million, or 70% of the estimated value, and in the second round, the bidding would start at half the price, that is, EUR 2.82 million. The potential new owner might thereby get the building in downtown Belgrade without obliging to maintain the core activity or keep the employees, Danas writes.