Castel Salbek sold for refurbishment (press release)
Hammond Partnership is pleased to announce that they acted for OMC Investments Limited from England on the sale of Salbek Castle, Arad to Hestia Invest SA. The castle was acquired by OMC Investments in 2016 for a sum in excess of 500,000 Euro with a view of developing it into a cultural and holiday centre.
The castle was built in the late 19th century in a park of over thirty-five hectares and offers many opportunities for the surrounding area and village. Hestia Invest SA is backed by a group of international investors who wish to further develop the Castle in part as a cultural centre in the area.
It is anticipated that the development will start in late 2022 and will be completed in 2023. Hestia Invest SA will develop the property as part of their investment strategy in Romania.
The team from Hammond Partnership was led by Nicholas Hammond assisted by Diana Niculae and Mihaela Lupu. The sale of the property required dealing with a number of historical issues relating to the sale of the property, its structure and its history. The sale and purchase of the castle were organised and coordinated through the office of Artmark in Bucharest who provided support throughout the transaction.
Hammond Partnership can trace its origins back to 1990 when Nicholas Hammond became the first foreign lawyer to open an office in Romania after January 1990. Hammond Partnership brings the experience of lawyers from different legal disciplines to provide a full-service commercial law firm in Romania for foreign and Romanian clients. With international and Romanian lawyers, they are able to anticipate obstacles, seize opportunities, resolve the cases and complete the transactions. The senior lawyers of the firm have many years of combined legal experience in Romania and the United Kingdom which has been gained by being involved in transactions of all sizes and nature.
This is a Press Release. Here you can order press releases on this site.