Lease, Operation, and Modernization of Cassiopeia Therme Badenweiler

Lease, operation, and modernization of the Cassiopeia Therme in Badenweiler: A qualified operator is sought to modernize and operate the spa, which requires renovation, considering its historical and cultural significance and the objectives of the Energy and Climate Protection Concept for State Properties 2030. The contractor assumes construction risks, particularly regarding the building ground and the condition of existing buildings, and operates the spa at its own risk according to its operational concept and BKV specifications. Lease payments to the client or a subsidy in case of negative lease, as well as a one-time construction subsidy, are possible; visitor revenues remain with the contractor. The exact scope of the leased properties, buildings, and facilities, as well as the operator's obligations, will be specified during the negotiation process. The current operator is Staatsbad Badenweiler GmbH (SBG), a 100% subsidiary of BKV. The successful bidder is expected to lease the spa through the acquisition of SBG via a share purchase agreement with BKV, to preserve loss carryforwards. Alternatively, the lease agreement may be concluded directly with the bidder. Negotiations will also cover a possible later acquisition of properties at Kaiserstraße 1-5 and the extension of usage possibilities to these properties.

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