Hotel In Listed Building In Krakow For Sale

Business description

The owners of this listed building have received a good opportunity in their home country and need to liquidate this hotel project in Krakow quickly. It is in a listed building, a rather run down palace several centuries old, but the building challenge here is offset by a great location, either for a hotel or an office complex. The business did not become operational so far, as there have been delays on permits, but there is no reason why in the right hands this should not be a great investment object.

Property information

Real Estate:

Real Property Included

Lease terms:

We are talking about a freehold purchase.

Living accommodation:

Part of the finished building could be set aside for the owner to live in.

Location:

Prime location near to the railway station, in an established street.

Other information

Expansion potential:

This building could become a one-off hotel or part of a chain.

Competition / Market:

There are no real threats as the market is still underserved by hotels. The challenges in this business are construction challenges - to renovate in a capital manner a listed building which has been allowed to run down and needs a total overhaul, down to the damp courses.

Support & training:

I would prefer the project to be taken on by an experienced developer with hotel business, a hotellier with good builders working on their team, or a developer who will onward sell the project.

Reasons for selling:

The project is being sold because the owner has a great opportunity in London, and needs to become liquid. Right now as readers will know it is not as easy as it was some months back to get bridging loans, and so they are dropping this project in order to concentrate on projects closer to home. That's why a quick sale draws a good price. If they miss the boat on their UK opportunity, then the price for this will go up by at least 15% again.

Trading hours:

24 hours once operational.

Related documents:

• 
• Polish language prospectus (pdf format)

• 
• Polish language prospectus (pdf format)

Contact the seller