A group of investors who made an acquisition offer on Reykjavík landmark building Perlan have dropped their plans. Their lawyer Garðar K. Vilhjálmsson said in a statement on their behalf that city authorities are ruining Perlan’s sales process.

Perlan. Photo by Páll Kjartansson.

Garðar stated that city authorities are trying to relieve Reykjavík Energy—which is owned by the City of Reykjavík—from the deficit that has characterized Perlan’s operations in the past years, ruv.is reports.

He said the group of investors had only had one disclaimer on their acquisition offer, a feasibility study, which concluded that city authorities are determined not to allow any operations or constructions on Perlan’s lot.

Their original plan had been to construct a spa and hotel next to Perlan. When that idea was rejected by urban planning authorities, they proposed a natural history museum, which also wasn’t well received, Garðar explained.

Instead, city authorities are planning a competition on ideas for future use of Öskjuhlíð where Perlan stands, he stated.

Click here to read more about the sale of Perlan.

ESA