Italian owner of the former spa in Pilsen has started negotiations with investors

Plzeň - The Italian owner of the former municipal baths in Plzeň, a dilapidated monument and landmark of the central promenade, has begun negotiations with Thai investors. Pierluigi Cardoselli, the managing director of TWB, is considering selling the property and is seeking a suitable buyer. The mayor of Plzeň arranged a meeting for him with the Thai ambassador to the Czech Republic, who expressed interest in participating in a project for modern Thai baths and wellness during his visit to the city. This was stated by Mayor Martin Zrzavecký (ČSSD) and architect Jan Soukup, who is in contact with Cardoselli and has prepared a study and project for the land use decision.

The building of the baths has been deteriorating for 23 years, and for the past four years, there has been a paintball playground inside. A private individual acquired it through privatization in 1994, who later went bankrupt. In 2001, the developer Amádeus Real purchased the baths for ten million crowns. This company initially negotiated the sale of the baths with the city and the region, which wanted to have a gallery there. Ultimately, the building was purchased by TWB.

After a meeting at the embassy a few days ago, the owner will finalize the offer for the Thai investors. “Whether he wants a partnership or wants to sell the property,” the mayor stated. This week, he tasked the office of concepts and development to prepare a municipal opinion on the location and a three-year development of the city’s visitor numbers within two weeks, as the Thais are interested in Plzeň as a tourist destination. From June 14 to 17, a mission of Thai companies looking for opportunities will visit the Czech Republic, which may also lead to discussions about the baths.

If this path fails, the mayor indicated that the city could get involved in the restoration project of the baths itself or with a private investor starting from this autumn. It is also possible that the city would purchase the baths.

“We must look for options,” Soukup stated. According to him, Cardoselli wanted to build apartments, offices, a hotel, a restaurant, and a wellness center in the area for up to half a billion crowns. “But then the crisis came. In the meantime, several hotels were built, and now he hesitates. He would sell it, but he wants to ensure that he at least doesn’t incur a loss,” he said. TWB bought the baths for 27 million crowns and invested four to five million crowns into them. According to estimates from local real estate experts, which Soukup also confirmed, the property could be sold for up to 50 million crowns. Cardoselli had previously offered it for 150 million crowns, even though he knew it was an inflated amount, according to Soukup.

Soukup indicated that the property could include a gallery, but rather a full-day experiential spa and modern wellness center, which is lacking in Plzeň. A part could be a parking house that would be connected to the adjacent Angelo hotel, which is currently the only Thai investment.