The richest woman in Russia Elena Baturina has planned the sale of the four-star Morrison Hotel in Dublin, The Irish Times reports without indicating a source. Baturina asked CBRE to put the hotel up for sale in the coming weeks, and the estimated transaction price is between € 80 million and € 85 million, the newspaper said.
CBRE on its website indicates that it is "the world leader in the provision of real estate services." The company declined to comment on The Irish Times.
Baturina bought Morrison Hotel from Nama for € 22 million in 2012 and spent up to € 10 million on its reconstruction, writes The Irish Times. So, when selling for the expected amount, she can earn up to € 53 million on the difference between the originally invested funds and the profit from the transaction. It is about a profit of 165%.
Morrison Hotel was built in 1996 and is located in the center of the Irish capital. The hotel was originally designed by Douglas Wallace Architects. It consists of 145 rooms, seven rooms for events, as well as a fitness center.
Elena Baturina ranks first in the ranking of the richest women in Russia with a fortune of $ 1.2 billion. The widow of Moscow Mayor Yuri Luzhkov was one of the largest developers in the capital, but now she is developing her business abroad. At the end of last year, a magistrate's court in Kalmykia put her on the wanted list, but at the end of January reversed this decision.