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Hotel For Sale in Zittau, Saxony Germany
Magnificent Property In Beautiful Residential Area
Asking Price: 235,000 € (Negotiable - Financing Available)
Outstanding investment opportunity in one of the most beautiful cities of Germany. Massive property built in 1924 as part commercial (central bank branch and office), part residential development. Stunning commercial area on the main floor with three independent, spacious apartments on the upper floors. Over 2.000 square meters (21.500 square feet) of constructed surface. Very bright and sunny. Huge lot of over 3.300 square meters (35.500 square feet) with an immense garden and many fruit trees. 300 m2 terrace (3.200 square feet) with a panoramic view over Zittau and the nearby mountains. RIGHT NOW THE BUILDING IS NOT A HOTEL, BUT COULD BECOME ONE. Very agreeable, green, upscale residential neighborhood. Brand new luxary public bathhouse and spa 150 m away. 300 m walking distance to the lovely historic center and main shopping area. Many original details like parquet floors, detached art nouveau columns, skylights, iron coated entrance door, cobble stoned court and carriage drive, massive 80 m2 strong-room, etc.
Over 60 rooms and halls. Two staircases. Ample corridors. High ceilings. Yard-gate entrance for cars. 4 garages on the main court-yard. Impressive entrance hall. Many possibilities. Main floor subdivisions could easily been removed to achieve a gorgeous 300 m2 loft-like living space. Perfect building for a hotel or bed and breakfast. Or a student residence. Or to just live grandly by yourself. Upper apartments could easily be divided and rented as holiday apartments. Needs renovation but is in solid condition. Heating, wiring, water and gas pipes are operative but will most likely need complete replacement. Free and clear title. Low annual property tax of 880,- €. Owner financing available. Last appraisal valued the property at 470.000,- €. Fantastic opportunity to buy a well preserved piece of history well below its intrinsic value!
Zittau lies in the south east of Germany, in the Free State of Saxony, in the region of Upper Lusatia, close to the border triangle between Germany, Poland, and the Czech Republic.
After years of careful reconstruction, the inner city of Zittau once again shows its original beauty with many historic buildings out of different periods of European architecture. Coming through the two world wars completely undamaged, Zittau surprises first time visitors with a certain mediterranean atmosphere. Because of it´s strategic border triangle position in the heart of Europe, Zittau´s affluence was built on trade. For centuries, Zittau was one of the most important trade centers in Bohemia. Today, apart from trade, mechanical engineering, plastics technologies and renewable energy, tourism is picking up fast as Zittau´s major growth sector. The natural beauty of the surrounding countryside and the nearby mountains (providing skiing facilities in winter), are popular tourist destinations all year round. The Zittau–Oybin–Jonsdorf railway is a heritage narrow gauge railway taking passengers from Zittau to the mountain spa resort towns of Oybin and Jonsdorf in the Zittau Mountains. Zittau´s climate is very sunny. Weekenders from the border countries adore shopping in the lovely historic center (where a new shopping center is in it´s final planning stages). Another contributor to Zittau´s international flair are the roughly 4.000 enrolled Students at Zittau´s international university, where classes are held in 4 languages. Because of their Bohemian background, people in Zittau are very relaxed and hospitable. Zittau offers a well diversified range of cultural attractions such as historic sites, museums, the outstanding Gerhart Hauptmann theatre, cinemas, outdoor music and theatre festivals, a zoo etc. Two of the most beautiful major European cities (and their international airports), Prague and Dresden, can be reached by car or train within an hour.
Over the years we have visited many places all over the world, and without any doubt the charming town of Zittau is one of the most attractive, agreeable, safest, clean, carefree, quiet, romantic, and cheapest places we have come across. Zittau is an unspoiled gem ready to get discovered.
Germany: An investment “safe haven”
Attracting guests not only from within the EU but worldwide, with double digit growth seen from the Gulf Countries, Russia and China in particular, Germany boasts a booming tourist and hotel sector.
Regularly referred to as a “safe haven” and topping CBRE’s recent survey of the most attractive targets for property investment, Germany is seeing increasing levels of buyer activity.
Hotels in particular, the asset class we’ve tipped for 2013, have seen investment almost quadruple in Q1 2013 according to Jones Lang LaSalle, with CBRE’s hotel brokerage in Germany commenting that “due to favourable financing conditions, Germany’s status as a safe haven, and increased demand from foreign investors, we believe 2013 will be a strong year for hotels.”Indeed occupancy levels, average daily rates and RevPAR (revenue per available room) recorded positive growth across the nation in the year-to-date through February according to data from STR Global.
Foreign bidders are more than welcome; but we will not travel abroad for meetings nor will we fall for any fraudulent money exchange schemes.
If you are seriously interested…
Please contact us for more information and details of a possible deal. The owner is willing to listen to serious offers and we can help you not only with the deal process but also to organize a visit to Zittau.
We´ll be waiting for your questions.
|About This Property|
|For Sale By:||Owner |
|Construction Year:||1923 |
|Needs Renovating:||Yes |
|Area:||2,000 m2 || |
|Parking Spaces:||8 |
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