Three-star hotel with a restaurant in Western Berlin

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Three-star hotel with a restaurant in Western Berlin

11,200,000 €
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Total area: 3,511 m² Yield: 4.5% Built in 1999
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Features
  • Operating Incomе: 507,600 €
  • Land area: 1,400 m²
  • 7-floor building
  • Occupancy: 100%
  • Number of parking lots: 41
  • Most recent total renovation: 2012
  • End of lease: 2019
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 4.8%
  • Total rooms: 94
  • Hotel rating: 3
  • Internet
  • TV
  • Car parks

It is a hotel investment in Berlin.

Description

The above ground area of the hotel is 3,511 m².

The plot of 1,400 m².

The building has seven floors above ground and two underground.

The hotel has 94 air-conditioned rooms, of which 89 are doubles and five are singles. There is a restaurant, bar and four meeting rooms equipped with state-of-the-art symposium, information and media technology.

The building has an elevator, an underground garage for 25 cars and parking with 16 places.

The property was built in 1999, conversion to full air conditioning and modernization of elevators took place in 2008. The ground floor has been remodelled in 2012. The total amount of investments in the hotel is € 1 million.

The hotel is fully leased to a well-known hotel chain.

Financial performance

Absolute income is 507,600 €.

The current yield of 4,5%.

Tenants

The tenant is a major international hotel chain.

The lease agreement was signedd in 2009 for 10 years with extension options for 2x5 years and the annual indexation of rental rates from the fourth year of the contract.

Transaction costs

Notary fee of 1,5%.

RE purchase tax of 6%.

Broker's fee of 4,76%.

Location

The hotel is located in a short walk from the famous Kurfürstendamm retail street.

Metro and public transportation are within the walking distance.

Central railway station and the closest airport are within a 15-minute drive.

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Sofia Bulanova
Sofia Bulanova
Investment Consultant
+44 20 3608 1267
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    • Bank financing from 1.5% annually
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