Hotel for Sale in İstanbul, Turkey

- We have a mandate to sell 48 room hotel. The building is located over 411 sqm land area with total construction area of 2.207 sqm.
- This hotel is surrounded by restaurants and popular areas.
- 99% of construction is complete and remaining would be completed within 1-2 months.
- All approvals and permits are in place.
- All our rooms would offer free WiFi, AC, TV, showers and free toiletries.
- Within 1st year of operation the hotel is assumed to operate with 70% occupancy rate and reach to 90% by 3rd year of operations and thereafter.
- Our assets include land, license, construction materials, building.
- In the vicinity of the hotel, the business owner (Our client) has purchased 480 sq mt of land to increase the size of the rooms to 81 rooms. The asking price for 480 sq mt of land, including the current hotel property of 411 sq mt land is TRY 133.5 M. If the new buyer decides to buy only the existing property, the asking price would be TRY 108 M.
- Promoter has more than 6 years of experience in construction field.