In the past people who couldn’t pay money that they owed were often sent to prison. This happened throughout a long period of Hong Kong’s history and many debtors languished in cells.
Now the French government has come up with a novel way to pay off its vast one trillion euro debts – selling prisons.
The government plans to sell up to nine prisons and it hopes to raise millions in the process. Observers expect most of the prisons to be sold to hotel chains. With their distinctive architecture, interesting detailing and colourful histories, prisons can make popular boutique hotels.
In Avignon, the government is asking for four million euros for a 14th century prison in a stunning position next to a papal palace. The prison could become a four star hotel with up to 110 beds.
Modern prisons requirements don’t really fit with inner city locations so it makes practical as well as financial sense to moved to purpose-built facilities elsewhere and sell off the ancient buildings in the middle of busy streets.
The French government owns a vast amount of property which includes some 30,000 buildings, many of great historical and architectural interest. Russians and businessmen from the Middle East are already snapping up bargains.
The government sold their national printing building for 85 million euros in 2003 but had to buy it back again in 2007 for 376 million euros.
People planning the future use of the Victoria Prison in Hong Kong will, no doubt, be looking closely at the French prison sale and hotel development plans.
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