One of the well-known hotels on the Montenegrin coast — Plaza in Herceg Novi — will be put up for public auction on September 14. The property together with the land plot has been valued at €30.742 million, the Serbian business portal Parametar.rs reports.
At the first auction, the hotel cannot be sold for less than 80% of its appraised value, so the minimum price will amount to about €24.6 million. To participate, potential buyers were required to pay a deposit of €3.074 million.
The sale is connected with a years-long dispute surrounding the company Vektra Boka, which managed the property. The proceeds from the sale of the assets are to be used to settle the claims of former employees and other creditors. Among them are the municipality of Herceg Novi and the local Water Supply and Sewerage company. CKB banka also has separate claims against Vektra Boka.
If no buyer is found at the first auction, at the second one the minimum price may fall to 50% of the valuation — approximately €15.37 million.
The package being sold includes land worth €7.01 million and buildings worth €23.73 million. The area of the main hotel property is about 5.44 thousand sq. m.
Source — Parametar.rs
