“Once completed, H Stirbei Palace will be the first high-end department store to operate in a listed heritage building, with direct street access and exceptional positioning on one of the main ultra-central arteries in the capital city. Moreover, the project has already aroused the interest of some very prominent brands operating on the luxury goods market, and I am delighted to confirm that we are currently in advanced discussions with these brands’ representatives, whose consolidated demand covers almost 90% of the leasable area,” says Yitzhak Hagag, co-founder and controlling shareholder of Hagag Development Europe.
The construction works involve the restoration, consolidation and refunctionalization of the palace’s building, and will follow the line of the original project – from proportions and height to full restoration of facades and the refurbishment of the exterior and interior decorative elements. The project also entails rebuilding the former carriage house, which will serve tenants in the hospitality industry. Work will take an estimated 24 months to complete.
The general contractor is the Romanian company BTDConstruct & Ambient.
Built in 1835, Stirbei Palace on 109, Calea Victoriei was a princely residence between 1849-1856. The most extensive changes were made to the property between 1881-1891, when architect Frederich Hartmann signed the project that transformed the facades of the building, bringing them to the current layout and appearance. Architect Hartmann was also responsible for the construction project of the semicircular building used for the chariot house, later demolished by former owners.
Listed as a class A heritage building, Stirbei Palace in nested in the heart of Bucharest and considered to be an invaluable and representative building for architectural, cultural, and historical heritage of Romania’s capital city.
(English version by Loredana Fratila-Cristescu)