A hotel with street retail in the center of Münster.
Description
A modernized 4-storey building with an attic.
The property includes:
- 25 rooms (35 beds)
- 3 commercial units (street retail)
- 2 apartments (100 m² each, in the attic)
Building use options:
- Hotel (current use)
- Boardng house
- Lease of the Association for Student Affairs (very high demand, more than 45,000 students study in the city)
- Lease of the University Hospital (very high demand, for outpatients and for their families members, more than 500,000 patients per year are treated at university clinics)
Benefits
- possibility of increasing the rental space due to the attic free area
The absolute annual income is 300,000 €.
The current yield is 4,4%.
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 6,5%.
Brokerage fee is 6% + VAT 19% (total 7,14%).
The property is located in Münster, within a walking distance from the historic city center and the main station.
Münster is a city in North Rhine-Westphalia. The population of the city is over 300,000 people.
Important court and administrative institutions of North Rhine-Westphalia are located in Münster, including the Constitutional Court and the Supreme Administrative Court.
The main employing organizations in Münster are educational and management institutions, including the university and the district administration. Therefore Münster is often called the “desk of Westphalia”. Trade and agriculture also play a big role in the city’s economy.
A small number of medium-sized enterprises are located in Münster: BASF Coatings AG, the branch for the production of varnishes from BASF, the paint factory Brillux, and Westfalen AG.
Münster is considered a university city. In total about 50,000 students study there. Founded in 1780, the University of Westphalia is one of Germany’s largest universities and the city’s largest employer (13,000 employees, including a university clinic). Here more than 45,000 students study at 15 faculties every year. The university also includes the Münster High School of Music. The university owns over 280 buildings in the city. In 1999 R. M. Gorbacheva was treated from leukemia at the University clinic and then died.
