A historic building in Timisoara, the former Hotel Europa, has been put up for sale for a price of €1 million. The property is located on Bulevardul Republicii, in an ultra-central area with a high potential for urban development, being targeted by investors for conversion projects or mixed real estate development.
The building, with an existing height of Basement + Ground Floor + 1 Floor + Attic, has a constructed area of 954 square meters and is located on a plot of 1.162 square meters. Although it is located in the protection zone of a historical monument, the property is not classified as such, a key advantage that eliminates the need to obtain the right of pre-emption from the public authorities, thus simplifying and accelerating the transaction process. The property has all utilities (electricity, gas, water, sewage) connected and offers approximately seven parking spaces in the courtyard, with the possibility of extension by demolishing an annex.
The development potential is twofold. There is already a renovation project which proposes to restore the building in the form of a hotel (B+F+GF+1+Tloft), preserving the original architecture. On the other hand, the urban planning regime of the area allows a building with a height of up to Ground Floor + 6 Floors (GF+6), opening the opportunity for a new, larger-scale project with mixed functions such as residential, offices, hotel or medical clinic. The location is strategic, 950 m from the city center, 500 m from the North Station and close to major urban regeneration projects such as Paltim and City of Mara.