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BUDAPEST REPURCHASES HISTORIC RÁC BATHS

 

Budapest metropolitan council’s spas company has made a successful bid to repurchase properties housing the city’s historic Rác Baths, the council said. Returning the thermal baths to the city “in their full glory after over a decade of lying in waste” has been a priority of the city’s leaders since entering office in 2019, it added. In March, a non-profit set up to handle the disposal of the property invited a public auction for the historic baths and 67-room hotel adjoining it. The starting price was 5 billion forints (EUR 14.3m) and a deposit of 254.4 million forints had to be raised by all bidders. The state has 30 days to exercise its pre-emption right, but otherwise metropolitan council’s spas company, BGYH, will start planning the property’s renovation.