We are glad to offer you a commercial building located in the city of Cologne (Land - North Rhine-Westphalia).
This is a commercial building with an area of 3,150 sq. m. needs repairs and upgrades.
At the moment, only commercial premises on the ground floor are leased.
It will be optimal to rebuild this building as a hotel for owning the hotel business, or renting out to a hotel operator. There is a preliminary agreement with one of the operators who is ready to rent this building after modernization. The expected return on rental will be 5%.
Price - 11,000,000 euros
Rental income (current) - 285,000 euros per year
Rental income (after modernization) - 825,000 euros per year
Cologne is a city in the Federal Republic of Germany, in North Rhine-Westphalia. The million-plus city of Cologne is the fourth most populous and third-largest city in Germany, as well as one of the largest economic and cultural centers of the country. In addition, Cologne is the largest center of the 10 million agglomeration of the Rhine-Ruhr region and the center of the 2 million monocentric agglomeration. The population of Cologne is more than 1 million people. Today, the leading positions in Cologne are occupied by the machine-building and automotive industries, the chemical industry, the food industry, the oil refining industry, the textile industry, and the production of building materials. A number of well-known companies founded their branches in Cologne: Evonik Industries, Shell, Toyota, British Petroleum, Ford. Here is the Lufthansa Management Center.
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Do not miss the opportunity to purchase a commercial building in Cologne!