The bidding period for the central Paris Hotel Majestic has ended and the winner of the prestigious property, a few steps from Avenue des Champs-Elysees, could be made public as soon as today. The hotel and conference centre was used as Hitler's Paris head office, and was returned after the liberation of Paris to the foreign ministry, which is now selling it for an asking price of EUR 500 mln. This is one of the largest sales in a series of real estate deals undertaken by the French state in an attempt to reduce the country's national debt.
The bidding period for the central Paris Hotel Majestic has ended and the winner of the prestigious property, a few steps from Avenue des Champs-Elysees, could be made public as soon as today. The hotel and conference centre was used as Hitler's Paris head office, and was returned after the liberation of Paris to the foreign ministry, which is now selling it for an asking price of EUR 500 mln. This is one of the largest sales in a series of real estate deals undertaken by the French state in an attempt to reduce the country's national debt.
The property, located in the XVI arrondissement and near the Arch of Triumph, could now fetch more than EUR 650 mln. It covers 30,000 m2 on a 4,656 m2 site in the heart of Paris.
