The already foreclosed property of the five-star boutique hotel The Three Sisters in Tallinn’s Old Town is about to go under the hammer in an auction, due to be held on May 8. The starting price for the landmark 700 sq m property, which employs 47 people, has been set at €393,000, a price that does not include the hotel’s movable furniture.
Multiple debts are attached to the hotel, including a €2 million mortgage with Tallinn Business Bank, a €384,000 mortgage with Petramark and a €217,000 mortgage with the Estonian state. The company also owes more than €86,300 in tax.
[photo courtesy The Three Sisters]