Kandersteg: Luxury Hotel Royal Park to be auctioned off
The former five-star Hotel Royal Park in Kandersteg is to be put up for compulsory auction on August 11. According to information from the "Berner Zeitung", the house, which has been closed since 2011, has a market value of just under CHF 2.5 million. The claims on the property add up to just under CHF 10.5 million.
According to Bernese newspaper the entire 11,000 sqm parcel - land with hotel and tennis court - has an official value of CHF 3.85 million. In contrast, the market value in the real estate lien procedure is estimated at just under 2.5 million. The appraisers justify the low market value with the poor structural fabric of the building, which was constructed in 1905 and extended several times. They ruled out further use as a hotel because of the expected high refurbishment costs.
The Kandersteg municipal council would nevertheless prefer a high-class hotel or a destination for families as a new use for the property. Due to the legal situation in Kandersteg, no unmanaged second homes may be built. (ah)
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