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Historic Hotel in Downtown Budapest
Property reference Eclectic Hotel, Budapest |
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| Asking price of EUR 10,000,000 |
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This newly refurbished 4-star hotel is offered for sale in a top location near to some of the most recognisable landmarks in the wonderful city of Budapest.
Price: €10 million
Key selling points:
* Located in the very centre of city
* Refurbished in 2007
* 4 star hotel
* 51 rooms
* Operational hotel with yields exceeding 7%.
* 40% occupancy on the first 6 moths of activity
* Huge potential to boost yields
Located in the heart of central Europe, Budapest has the strategic location to become one of the most important cities on the continent. With its landmarks and palaces from artistic architects, Budapest is really a city carved into the fabric of European heritage.
Downtown used to be a venue and home for international aristocrats in the past and has been a target for ‘multinational’ businesspeople lately. Its magnificent architecture and landmarks have been attracting leisure travellers in addition to business visitors.
This hotel was refurbished in late 2007, with the owners adopting a modern, minimalist style. The majority of guests are independent international tourists, though groups and conferences are contributing around 30% of the revenue.
A summary of the facilities is as follows:
* Room facilities: flat screen TV, wifi, cable internet, TV system: ordering, plays, billing information, messages through CCTV system.
* Hotel amenities: conference room with all equipment, flipcharts for presentation, treadmills and bikes, jacuzzi, sauna, 60 seat restaurant, café-bar, 2 shops.
* Guest services: massage, laundry, car rental, program organisation, conference
At present, the yield is not accounting for income from the restaurant or 2 small shops, which are not yet tenanted and could be let for a monthly rent of 50 euros per m2. Furthermore, the café-bar has only a limited menu at present and has significant potential for development of the offer, given the high footfall that passes the premises on a daily basis.
Viewing and offers:
Viewings can be organised through our partners in Budapest. Any visit to the hotel can include assessment visits to other offers on the market in the neighbourhood.
Offers must be submitted in writing form with a purchase offer to be made with a binding deposit of 1%. The buyer will purchase the shares of a company registered in Liechtenstein.
Pictures and full financial information are available only on submission of a letter of intent.
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