(Visited 147 times, 1 visits today)
(Visited 147 times, 1 visits today)
  • Transaction / Assets
  • Seller
  • Buyer
  • € MM

The new Chinese owners start the works at the Palace Hotel in Prato bought at auction for 4.5 million euro

18 December, Tv Prato

The extraordinary maintenance works of the Place Hotel have recently started. The hotel has stayed closed for one year and it was bought last September by Healy, the company owned by the Chinese entrepreneur Zhang Lisheng. He offered 4.450,000 euro to buy the hotel between Via Piero della Francesca and Via della Repubblica after the bankruptcy of Nuovo Sviluppo Alberghiero Pratese was declared by the Court of Prato in April 2016, due to debts for 13 million euro, mainly towards the bank that issued the mortgage.

To obtain the hotel, whose starting price was set at 3.7 million, Healy srl had to relaunch several times to surpass the offer of another Chinese company. Now that the sale is finalized, the new ownership has communicated to the City if Prato the start of the works and it has recently started the construction site, assigned to New Rogedil srl. In this first phase, the works will concern the external part and they’ll consist in the remaking of the fence, the implementation of a staircase for disabled, the demolition of coverage of the access part, and the reorganization of the internal garden, which also features a pool.

The new owners are not planning any expansion since no variation of the urban plan was presented to the City. The plan includes, however, the requalification of the entire five-storey building, rooms included (they’re currently 80, it’s likely they’ll be reduced in number) and the creation of a new suite at the top floor. The panoramic terrace will be renovated, and the entrance will be made of marble.

The works may take several months before the hotel will reopen. The Palace Hotel is a four-star hotel that has seen among its guests celebrities and national and international politician that chose the hotel for their conferences and electoral activities. The new ownership is intending to keep the same medium-high range target.

Source: TV Prato

Translator: Cristina Ambrosi