An investment project.
Description
The project consists of the renovation of an existing building and the reorganization of it into a four-star hotel.
The total area of the building is 2,200 m²
The hotel room capacity upon the project: 50 rooms.
The building was built in 1817 and it is an architectural monument.
Number of floors: 3.
The building is for sale together with the project company. The construction permit was obtained.
Financial performance
The purchase price of the building: 4,500,000 €.
Renovation and reorganization costs (including furnishings): 5,000,000 € + VAT.
After the completion of construction, the purchase price of the hotel will be about 14,000,000 €.
The expected rental yield is 8%.
Location
The building is located in the historical center of Budapest.
