Porsche to sell the Schloss Bullachberg castle in Germany

German luxury carmaker Porsche is putting up for sale the Bavarian Schloss Bullachberg castle (located near the Neuschwanstein Castle in Bavaria) and estimated in 2006 to 6 million euros.

Porsche has bought the castle five years ago, hoping to turn the 180,000-square-metre in a luxury hotel. Renovation works have never been started.

Luxury sports car manufacturer has accumulated, however, massive debt. However, in August 2011, Porsche reported for the first half of the year a net profit of 149 million euros.