​The Former Holiday Resort on Rózsadomb is for Sale for HUF 5 Billion


Its owner decided to sell the former holiday resort of the former National Council of Trade Unions on Rózsadomb. The property, which is located on one of the most exclusive sites of Hungary, is for sale for HUF 5 billion. The building, which has been standing deserted for years, has a beautiful view to the city.

It was revealed in June that CIB Group is looking for an investor to buy its property located on Rózsadomb. Cushman & Wakefield is in charge of the sale of the former holiday resort of the former National Council of Trade Unions. The property, which is long over its golden years, costs HUF 5 billion and has a wonderful view to the city. The former resort is located on one of the most exclusive sites of Hungary, and no lookout tower could provide a nicer view to the Danube and the whole capital than it has. The building is currently no more than a concrete frame, thus the new owner has to get it reconstructed. Behind the strictly guarded gate the baths are located, the building of which never has been finished. Under the pools there’s a garage and several control rooms. The view is nice from the first story, but getting higher it becomes more and more spectacular.

A Luxury Residential Park Was to Be Built Replacing the Resort

The former resort was to be rebuilt into a luxury residential park, thus a new brick building was erected, but like the rest of the property currently it’s standing deserted. If the buyer-to-be also wants to use the property as a residential park, the future residents will be amused by the sight of the Buda Castle, the Parliament and the Citadel, which are all visible from the former resort. The concrete frame of the building is able to be renewed, but it requires a huge work; the frame, most parts of which were built in the 1970s, needs to be modernized as well; but it’s also possible that the whole building needs to be knocked down; deciding which way to choose will be the new owner’s responsibility.

The Property Was Built in 1971

The property of the former National Council of Trade Unions was built in 1971, and functioned as a holiday resort until the 1980s. Later it was to be renewed, but after knocking down a part of it the reconstruction stopped. Since 1989 it’s had several owners; the current one, CIB Group bought it in 2009.

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