Hotel in the historical center of Krakow, Poland

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Hotel in the historical center of Krakow, Poland

24,000,000 €
8,988 € /m²
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  • Total area
    2,670 m²
  • Yield
    5.0%
Details
Property parameters
  • Total rooms: 40
  • Hotel rating: 4
  • 5-floor building
Financial performance
  • Annual income: 1,205,280 €
Transaction costs
  • Broker: 3.57%

Four-star hotel in a classic style.

Description

The total area of ​​the building is 2,670 m²:

  • basement floor: 459 m² (there is a possibility for construction of a SPA zone)
  • ground floor: 529 m²
  • first floor: 563 m²
  • second floor: 568 m²
  • third floor: 502 m²
  • attic floor: 50 m² (it is possible to expand the area to 200 m²)

There has been received the permission for the reconstruction of the building and its conversion into a 4 * – 4 * + hotel with 40 rooms. Reconstruction works have been started, but are currently stopped.

Financial performance

The cost of the building: 20,000,000 €.

Repair works: up to 4,000,000 €.

Total: about 24,000,000 €.

The total expected annual income is € 1,205,280.

The expected yield is 5%.

Location and nearby infrastructure

Krakow is the largest tourist center of Poland and Eastern Europe, located 295 km from the capital of Poland, Warsaw. The population of the city is about 800 thousand people.

The city has a lot of historical monuments, the city center is included in the UNESCO World Heritage List. Krakow attracts with its Baroque, Renaissance and Renaissance architecture. Tourists come to Krakow to visit the monuments of World War II – the Auschwitz-Birkenau camp at Auschwitz and the Jewish quarter of Kazimierz.

Krakow is a leading tourist destination in the country. Over 9 million tourists visit the city annually, third of them are foreign visitors.

Offices of the largest transnational corporations are settled here. The total number of companies with foreign investment reaches 4 thousand.

Industrial exhibitions, thematic conferences, and trainings for small and medium-sized businesses are regularly held in Krakow.

The city has 14 colleges and universities, Cisco and Google opened their own research centers (R&D) here.

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