Four-star hotel.
Description
The total area of the hotel is 2,221 m²
The hotel room capacity: 37 rooms with 58 beds.
The hotel was opened in 1954.
There is a possibility to expand the hotel via construction of an adjacent building with 35 rooms.
The property includes a restaurant for 125 seats, 2 conference-rooms and a parking.
The average annual occupancy rate is 74%.
The projected price of the property after the renovation and expansion is 11,000,000 €.
Current absolute annual income is 240,000 €.
Current yield of 7.3%
Projected absolute annual income is 715,000 €.
Projected yield of 8.5%
There is a possibility to obtain a bank loan in the amount of 1,000,000 € at 2–3% per annum.
The property is operated by the management company since 1998.
The current management company is ready to continue an operation of the hotel after it's expansion.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 6.5%.
The broker's fee of 3%.
The hotel is located in the city with the population of more than 100 thousand people, in the state of North-Rhine Westfalia.
