The City of Belgrade offered on July 15 part of Belgrade Palace (Beogradjanka) for sale for an asking price of EUR20.6m, the city administration has announced on its website.
All physical and legal entities are eligible for the sale of 19,000 square meters of office space in the building.
Applications for a public contest will be accepted until July 29, while the public contest will be held on July 31. The ad states that the future buyer has three years to perform construction and other adaptation and reconstruction works on the building for a price of no less than EUR8m.
The buyer is also obliged to not change the building’s purpose given that the Belgrade Palace was given prior protection status on Apr. 16, 2018.
A penalty will be built into the contract according to which the buyer will pay 10% of the sales price if the buyer does not fully meet their obligations. The buyer needs to provide guarantees for paying possible penalties from a first class bank.