Four-star hotel with a large hotel chain as the tenant and a long-term lease agreement located near Hamburg.
Description
The hotel includes:
- 109 rooms
- rooms for conferences and public events (banquets, weddings, etc.)
- 81 parking lots
The hotel is in good condition, needs small cosmetic repairs: replacing furniture, updating the lobby, etc.
Current hotel indicators (2019):
- Occupancy – 67%
- Number of nights – 35,637
- Average price per night – 77,4 €
The cost of the hotel is 11,250,000 €:
- Purchase price + additional expenses – 10,500,000 €
- Cosmetic repairs — 750,000 €
The annual income at the time of purchase is 550,000 €.
The current yield is 5.0%.
The annual income after cosmetic repairs will be 675,000 €.
The yield will be 6%.
Possible bank financing for 50% of the value of the property at 2% per annum.
The tenant is one of the fastest growing operators in the middle class segment. The company manages about 100 hotels in Germany and Austria. The hotels are annually visited by 900,000 guests.
The tenant has been managing the property for three years.
A new lease agreement will be signed for 15 years (until 2035).
The property is located in the near suburbs of Hamburg, in the federal state of Schleswig-Holstein, with a population of more than 30 thousand people. The property is located within walking distance of the city center, there are bus stops, cafes, shops and various tourist attractions located nearby.
The historic center of Hamburg can be reached in 25–40 minutes by car or public transport (25 km). Hamburg Airport and the nearest train station are 22 km away.
In 30 minutes by car you can reach the historic city of Lübeck and Ratzeburg with its historic cathedral.
Hamburg is the 2nd largest city in Germany (after Berlin) with the population of more than 1.8 million people. It is ranked 18th in the world for livability in 2016.
Hamburg is among the leading networking locations. Congress Center Hamburg and Hamburg Exhibition Center attract 1 million visitors every year for various events and trade fairs.
Hamburg boasts an extensive tranport system. The Port of Hamburg is the largest sea port in Germany, 2nd in Europe and 9th largest in the world.
Hamburg is a global touristic destination. There are more than 40 theaters, 60 museums and 100 entertainment venues including famous night clubs and bars.
The city hotels have a high occupancy rate. In 2018 7.8 million tourists stayed for at least 1 night in hotels of Hamburg.
