The hotel room capacity: 100 rooms.
There is parking in the premises of the property.
The hotel includes a restaurant and a fitness center.
There is an elevator in the building.
The property was built in 2006/2008.
At the moment, the building is under renovation, a lobby, a restaurant and all rooms will be repaired at the expense of the operator.
Absolute annual income is 750,000 €.
The current yield of 5.0%.
Pre-approved financing is 60% of the property value at 2% per annum.
With the loan, IRR will be 8% per annum.
The tenant is a hotel chain with more than 40 hotels in Germany and Austria.
The lease agreement is valid for 20 years.
Type of lease: Double net.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 4.5%.
The brokerage fee is 3% + 19% VAT (in total 3.57%).
Location and nearby objects
The property is located next to the Bilhaven Harbor, in 2 km from the Hamburg Central Station and in 10 km from the Hamburg Airport.
The building is located on one of the busiest streets of the city, in a walking distance from the metro station and public transport stops. The distance to the historic quarter of Münzviertel and the Museum of Ballinstadt is about 2 km, and to the central fish market of Hamburg — 6 km. An artificial lake Alster is situated nearby.