Hotel in an excellent condition with permission to expand the territory and increase the number of rooms.
Description
Two united hotel buildings include:
- 67 rooms
- restaurant
- bar
- breakfast room
- summer terrace
- swimming pool
- spa
- parking
In 2002 and 2012 the hotel was undergoing major repairs, the rooms are in excellent condition.
A construction permit has been obtained allowing the construction of 8 rooms and 14 parking spaces.
Deal type: Share deal.
The absolute annual income is € 468,000.
The yield is 5,2%.
At the moment, the tenant is the owner of the hotel.
There is a potential operator who is ready to rent the building at a yield of 5.2%.
Brokerage fee is 2%.
The property is located in the Prague 9 district.
A 5-minute walk away is the Czech Republic’s largest sports arena O2 (which visitors make up more than 40% of hotel guests) and the O2 congress center which will host major exhibitions, congresses and world-class events. Opening is scheduled for the summer of 2019.
Also there is the largest shopping center in the city Harfa Gallery, Phoenix Shopping Center as well as a large business center located nearby.
Among clients of the hotel are companies such as LG Electronics, ING Bank, Geberit, XXXLutz, Velux, Bramac etc.
Prague is the capital of the Czech Republic with the population of more than 1.28 million people.
The city is the main political, economic and cultural center of the Czech Republic and a major tourist center of Europe. The historical center of Prague is listed as a UNESCO World Heritage Site.
From the branches of industry in Prague machine building (machine-tool building, transport, electrical engineering), chemical, textile, clothing, printing, food industry are developed.
During year 2017 — 7,650,000 turists visited Prague — stable y/y growth approximately by 7% a year.
