Hotel in Prague, Czech Republic, 80 sq.m

Commercial premises on the ground floor of a residential house. The size of the premises is 80 m2, currently used as a private club with a bar. It's possible to keep the current business. The price for the premises with all bar equipment is CZK 6.900.000.

The premises were totally refurbished in 2015, with completely new electric wires, heating pipes, new electric boiler for heating and hot running water, new plastic windows and doors. Water and sewage pipelines were video inspected and cleaned. The walls got new plaster and covering layers. In June 2018 the house foundation was completely repaired, reinforced and insulated. The house facade is heat insulated and newly painted.

We offer to remodel the premises and turn them into a small hospitality business (hostel) with 3 rooms, shared bathrooms and common space with reception and kitchen in the hallway. Average net monthly income such business can generate is CZK 30.000 (EUR 1.170), considering management charges. Estimated remodelling cost is EUR 40.000. Expected net yield thus is at least 6% per annum.