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Three-star hotel in the center of Prague

1,600,000 €
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Total area: 954 m² Yield: 9.8% Built in 1896
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Features
  • Operating Incomе: 156,816 €
  • 4-floor building
  • Most recent total renovation: 1993
  • Total rooms: 11

It is a hotel is in a historic building in Prague 2.

Description

Four-storey building with total area of 954 m² was constructed in 1896.

The hotel includes:

  • a restaurant;
  • shooting range;
  • conference hall;
  • 11 double rooms.

The restaurant area of 43 m² and a shooting range area of 112 m², as well as technical and auxiliary rooms are located in the basement.

The ground floor hosts the main entrance, reception and technical rooms. There is an utility building area of 63 m² in the courtyard.

The first floor is occupied by a conference hall area of 80 m² and utility rooms.

The second and third floors accomodate 11 apartments, kitchens and utility rooms.

There is an elevator in the hotel.

Redevelopment

There is a possibility to redevelop property, including the add-on of three floors to the hotel building (a permit for the add-on of two floors have already been granted), and one floor to the utility building in the courtyard.

Due to this plan, the owner can increase the number of rooms from 11 to 28, getting additional area of 453 m².

The necessary investments will amount to 450,000 €.

Financial performance

The average annual income is 156,816 €.

The current yield of 9,8%.

Location

This property is located in the historic district ”Nove Mesto“.

”Nove Mesto“ was founded in 1348 by Charles IV in place where were even more ancient celtic settlements, and its history counts more than 668 years. The area was built to unify ”Stare Mesto“ and ”Vysehrad“.

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If this property wasn’t for you, take a look at other hotels for sale in the Czech Republic.

You can see more hotels for sale in Prague elsewhere on our website.

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