Bulgaria Gets Rid of Abandoned Bonn Flat

Properties | January 6, 2011, Thursday // 12:32|  views

The Bulgarian Foreign Ministry (building in downtown Sofia is pictured) is selling three of its abandoned properties in Germany. Photo by Sofia Photo Agency

The Bulgarian State was able to successfully finalize the transaction for the sale of a property in the German city of Bonn for EUR 2.4 M.

The building in question is part of the former complex of the Bulgarian Embassy there when Bonn was the capital of then Western Germany, before 1989, and it has been abandoned and deteriorating for years.

Bulgaria is selling two other properties in Germany – the former trade representation, again in Bonn, and a vacation home on the Baltic Sea.

The concrete building with 30 apartments and underground parking garage, sprawling on over 3 000 square meters in Bonn is known as "the Bulgarian flat." It was listed for sale in August for the price of EUR 3.2 M. Even though the State got less than the asking price, the sum is still deemed acceptable over the poor condition of the building - leaking roofs, mold and mildew, and tree roots cracking the foundations.

The trade representation building has received an offer as well, but is has been rejected as too low. Bulgaria is asking EUR 650 000, deemed excessive by German real estate experts, since the new owner will have to invest EUR 2.5 M for repairs.

The vacation home on the Baltic Sea was formerly used by Bulgaria diplomats.

Bulgaria hopes to get rid of both buildings by the end of the year.

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Tags: building, abandoned, property, Germany, Bonn, Bulgarian Flat


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