Grand Hotel du Boulevard, turned into an office building

• The inauguration of the building will take place in autumn at the earliest. The most pessimistic scenario hints at the beginning of 2013

Grand Hotel du Boulevard, which had been serving as a 3-star hotel since the Communist era, will be operating as an office building, and will be open this autumn at the earliest, according to sources close to the works.

The interior of the building has been substantially transformed, as the rooms have been turned into office spaces.

The investors are part of the Niro Group, and the works on the building located on the intersection of the Regina Elizabeta (Queen Elizabeth) and Calea Victoriei (Victoriei Avenue) were supposed to be completed three years ago, according to information on the website of the hotel.

The quoted sources said: "The entire building has been reinforced, and the frontage was only renovated, without undergoing any major modifications. The modification of the interior areas consisted in changing the design by eliminating some walls, but without affecting its historic monument status. The new image of the building will have a modern style combined with classical elements".

The initial plan was to renovate the hotel and make into a luxury hotel, as the demands of the market and of the area it is located in were increasingly rising, the quoted sources said.

• Why the plan to make a five star hotel was unsuccessful

The lack of parking spots in the immediate vicinity as well as the unsatisfactory view behind the building has made it impossible to upgrade the hotel from three stars to five stars, our sources say. An office area was considered after that, as the employees of the companies working there will be able to use the underground parking lot of the University Square, which will become available starting next month, according to the latest statements made by Bucharest mayor, Sorin Oprescu.

• The ground floor is sought after by luxury retailers

Several retailers and luxury companies expressed their interest in renting out approximately 50 sqm each on the ground floor of the building.

Nevertheless, the quoted sources said that there is no question to change the allocation of the space, as the architecture of the building requires that the space be divided differently. The building has a total surface of approximately 5,000 sqm. The building has four floors, and the ground floor is expected to hold the frontdesk and a restaurant. Also, in the case of the fourth floor, they are considering setting up offices suitable for lawyers or architects. Retailers weren't the only ones to express interest in the office spaces near the University square: several people came to ask for a job.

The worker team currently comprises about 50 people, to be extended to approximately 150 people. Contracts for the works for the consolidation of the building were signed with several developers.