Construcții SA’s general manager, Adrian Homann, says he’s being pressured into making it easier to sell at an undervalued plant culture and related land.
In May this year, the Sibiu Local Council agreed in principle to the acquisition of the Culture Factory and the land associated with it. It is a former production hall of Construcții SA, located in the area of the Vasile Aaron Bridge, which in 2015 was converted into a performance space, and the “Faust” signed by Silviu Purcărete was the most famous work exhibited there.
As stated in the documents accompanying the draft decision on expression of consent amounting to 4.3 million euros, according to the owner’s estimate of the value of the hall and the associated land (34,000 m2, of which 6,776 m2, the hall was turned into a showroom).
Construcții SA’s general manager, Adrian Homan, who has shown that he has acquired the majority of the company’s shares, says that so far, he has not been formally notified by Sibiu City Hall of the takeover intent. “We do not have an address from the local administration. We also read about the approved decision. But these goods will not be sold directly, but at auction,” Adrian Homann stated.
The company he ran went bankrupt, which is why, Homann points out, the goods could not be sold directly, but through auction. The land and culture factory building were mortgaged to BCR Corporation, after financing of 25 million lei in 2014.
Adrian Homann says he is under pressure to sell merchandise at below market price. Says the general manager of Construcții SA, who believes the prices are not undervalued.
Approximately seven million euros, according to management accounts
Sibiu city council representatives said in documents approved by the local council in May.
Documents in which it was estimated that approximately 33.7 million lei (about 6.74 million euros) would be needed to purchase and develop the area. The approximate amount of 22 million lei for the purchase of the Culture Factory will be obtained from a bank loan of 18.3 million lei (with interest and commission approximately three million lei) and from local budget support of 3.2 million lei.
The Culture Factory has become the staging area for the mega-show “Faust”, directed by Silvio Burcrete
To arrange offices and indoor and outdoor spaces, in addition to obtaining the necessary approvals and licenses, another 3.5 million lei will be required, and it is estimated that another five million lei will be needed to install air conditioning in all spaces. Utility costs are estimated at 800,000 lei per year.
Representatives of the National Theater “Radu Stanca” explain that in addition to expenses, the Culture Factory will also generate revenue of 3.5 million lei annually, from the rental of spaces for various cultural events.
Read also premiere: Sibiu begins negotiations from 4.3 million euros for a cultural space, which will become the temporary “home” of the “Radu Stanca” theater
image source: Google Earth
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