From the castle in Lázně Bělohrad, there is to be luxury housing for retirees

Lázně Bělohrad (Jičínsko) - The British company Sherydan CR wants to collaborate with the town hall of Lázně Bělohrad in Jičín to convert the local dilapidated castle into luxury housing for retirees. The investment costs are estimated at around 300 million crowns. The city will establish a joint venture, Residence Lázně Bělohrad, with Sherydan CR, into which it will contribute its castle. The decision was made on Wednesday by the representatives of Bělohrad, said mayor Pavel Šubr today.
    "The reconstructed castle is expected to provide housing for about 100 seniors, primarily from the Czech Republic," said the mayor. According to him, the attractiveness of the project will also be boosted by the fact that the Anenské Mineral Baths, where diseases of the musculoskeletal system are treated, are located in the town.
    In exchange for the castle, valued at nearly 30 million crowns, the city will initially obtain about a three-quarters stake in the joint venture. The organization and financing of the reconstruction will be the responsibility of Sherydan CR, which will be able to gradually increase its stake in the joint venture to 80 percent with the invested funds.
    In addition to money, Sherydan CR will also contribute a previously acquired granary building near the castle to the venture. The company will also be obligated to buy the city's stake at market value after the reconstruction of the castle is approved, if the town hall requests it.
    The baroque castle from the turn of the 17th and 18th centuries has been owned by the town hall since 2004, when courts ruled in favor of the city, ending disputes regarding restitution claims on the castle by the Kinski family. Since then, the city has sought meaningful use for the castle without success. It considered options such as selling or converting it into a hotel, but the second option posed a significant burden on the city budget.
    If everything goes smoothly, the reconstruction of the castle could begin towards the end of 2009. Currently, the castle houses a dormitory for a local vocational school, which would vacate the premises after the next school year. According to Šubr, the Hradec Králové Region could renovate its facility, Kotykova Mill, for apprentices in Lázně Bělohrad, where there has been a dormitory for the vocational school in the past.