ID: 1750
House

Hotel for sale North Rhine-Westphalia, Cologne, Germany

Commercial building for redevelopment in a hotel in Cologne

Enquire about this Property

€11,000,000
Commercial building for redevelopment in a hotel in Cologne

Enquire about this Property

Additional Information DESCRIPTION
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.
 
If you are interested in this and other objects, you can leave a request. Managers of our company will contact you shortly and provide you with the objects that match your request.
 
Do not miss the opportunity to purchase a commercial building in Cologne!
Additional Information PROPERTY DETAILS
  • Object: Commercial property
  • Type of Property: Hotel
  • Property Type: Secondary market
  • Location: Cologne, North Rhine-Westphalia, Germany
  • Total Area: 3150 sq m
  • Sale Price: €11,000,000

Financial Information

Price
€11,000,000
Guaranteed rent
Rent Income per year
€285000
Rent Income per month
€23750
Profitability
2,6%
Payback
38,6 years
Installment
Mortgage

Purchase Cost

Agency commission
7,14%
Tax on the purchase
5%
Services notary
1%
Inventory
0,5%
Rental services
Services of the management company
Additional Information OTHER INFO
FEATURES
Commercial property with tenant in Cologne for sale
Commercial building for redevelopment in a hotel in Cologne for sal

ATTRIBUTES

Total Area: 3150 sq m
Enquire about this property
one of our advisors will be in touch regarding your enquiry