Centralis Immobilien GmbH (Centralis) has acquired two further existing hotels in Bonn and Dusseldorf. The properties will be comprehensively modernised and strategically repositioned.
The ‘Sternhotel’ in Bonn, a landmark hotel with 400 years of history, has been acquired after 120 years of family ownership.
The city's most famous hotel, the ‘Sternhotel,’ am Markt 8, is centrally located on the marketplace in Bonn, directly adjoining the historic city hall and the city’s prime retail areas. Originally built in 1620, this multi-tenant property provides around 5,600m2 of floor space and is fully let. The currently 80-room hotel occupies approximately 3,900m2, plus 140m2 of retail space and 560m2 for cafés and restaurants. The property also houses the city’s oldest cinema, with three screens.
The plans include replacing the building services facilities and making the property ESG-compliant, including district heat, photovoltaics, and other techniques for optimising energy consumption. The objective is to create a refurbished, energy-efficient core asset in a prime location, let on a long-term lease.
The property successfully acquired by Centralis is situated at Pionierstrasse 6, in a central location near the CBD. It is within easy walking distance of the main railway station, the city centre, the historic town centre, and Konigsallee. Originally built in 1952 and extended in 2001, the hotel now provides 92 rooms and a 50-space underground car park. Its total floor area is around 3,200m2.
In its development plans, Centralis envisages repositioning the property as 98 serviced apartments. ESG compliance will be achieved by improvements including district heat, a combined heat and power plant, photovoltaics, and optimising the building envelope. On completion of the work, the property is to be let on a long-term lease to limehome, one of Europe’s leading operators of digitalised designer apartments. The projected project volume is in the low double-digit million-euro range.
Dr Fabian Vieregge, founder and Managing Director of Centralis, comments: "In 2024, we found great success with our countercyclical approach. We will therefore continue to implement and expand this in 2025. Currently, we are identifying the most attractive opportunities for market entry since the 2007/2008 financial crisis. We are convinced that modern hospitality concepts in city centres, in particular serviced apartments, will assume an even more prominent role in the hospitality asset class."
Image source - Centralis.
Europe Real Estate — an overview of real estate developments in European countries.
