Hotel under construction in Hamburg.
Description
Project with a building permit for a four-star business hotel with 250+ rooms.
The total area of the conference rooms is about 1,000 m².
Start of construction: October 2020.
Completion: May 2023.
Deal structure: Asset deal.
The annual income is 2,611,000 €.
The yield is 4.3%.
The property is fully let. The tenant is a hotel chain with 40 properties under management.
The lease agreement is valid for 20 years with extension options of 2x5 years.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 4.5%.
Brokerage fee is 3% + VAT 19% (total 3.57%).
The hotel is located in Hamburg. The district has a high concentration of high-tech companies, combined with development potential and a convenient transportation system. The distance to Airport is 25 km, to the central railway station — 15 km.
Hamburg is one of the most economically powerful metropolises in Germany and Europe — about 5.3 million people live and work in Hamburg.
Hamburg ranks second in Germany for the number of headquarters companies, nine of which are members of DAX. The Hamburg port, founded in 1189, is one of the largest ports in the world, and the presence of an airport (HAM) makes Hamburg one of the most important logistics centers in Europe.
