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Italy - Milan - Investment portfolio of renovation of 5 star hotels.
Well established established hotel with more than 300 rooms in need of renovation in Milan, Italy with a fiscally advantageous structure for sale.
The property includes a 7-storey building with a large spa, a fitness center and 2 underground levels used for cooking, 4 restaurants, 14 multifunctional meeting rooms, an assistance function and 114 parking spaces + 2 special spaces for 2 buses.
The gross area is 34,575 sq.m., consumption at the hotel is 24,271 sq.m.
The property is located in a commercial and sports area of Milan approximately 8 kilometers from the cathedral, with easy access to the motorway as well as quick access to Milan's national and international airports.
The hotel is close to congresses and exhibitions (busy week high) and close to San Siro stadium (high occupancy weekend).
Approximate estimated cost of the renovation: 30 to 35 million euros
Estimated duration of renovation: 18 months (additional technical time required for project management, provision of FF & E and OS & E can be provided).
Sale price:
For a completely renovated hotel: EUR 70'000'000.-
For the hotel with all permits but without renovation: EUR 35'000'000.-
Contact us for more information.
