Knight Frank has been instructed by Romanian Commercial Bank (BCR), to launch to market, the sale of mountain resort ‘Silver Mountain’, Poiana Brasov, Romania – the only leisure project of this size in Eastern Europe.
Silver Mountain is developed on 26.3 hectares (64.9 acres) of land and includes four apartment buildings, totaling 171 units. The commercial space, totalling 2,600m² net area, includes a multipurpose building that houses a restaurant with 140 people capacity, club and Spa & Fitness Centre, with underground parking facilities. The site also includes a heliport, road infrastructure and green areas - as it stands the complex can be operated as an apart-hotel without high investment needed.
Silver Mountain is located 180km from the Bucharest city centre and approx. 15km away from Brasov Railway station. It has 12 slopes with various degrees of difficulty are prepared for skiing, snowboarding and sleigh rides, being accessible by cable car and ski lifts.
Poiana Brosav, where Silver Mountain is located, is popular with high-end tourists who seek good skiing confitions and quality services. Leisure travellers visit to partake in sport as well as local attractions such as Dracula Castle in Bran, Rasnov Citadel, the Black Church and the Sfatului Square in Brasov Old City.
In 2015, the local tourism market recorded a significant increase in both the number of tourists (+17.2% increase in 2015 vs 2014) and the number of nights spent in accommodation facilities (+15.9% increase in 2015 vs 2014). This increase also led to a higher overall occupancy rate of 28.8% with hotels leading as accommodation of choice (36.3%), followed by smaller facilities (21.8%) and hostels (20.4%). The Council has recently announced plans to invest circa €45m in further developing the winter sports facilities by expanding the ski area and building additional infrastructure.
Horatiu Florescu, head of Knight Frank Romania, commented: “Poiana Brasov in Transylvania is one of the few mountain resorts where we see a high level of visitor demand and relatively limited supply. Mixed use projects such as Silver Mountain are scarce on the market and, given the broadly increasing investment activity, we expect its sale to generate a great deal of investor interest. Over the past two years, investment volumes in Romanian real estate market totaled over EUR 1.5bn, on the back of strong economic growth of more than 3%. Romania has been one of the fastest growing countries in the EU and we expect it to continue to show similar growth levels in the years to come.”
