Pullman Hotel Munich
- Property Details
Property Details [ – ]
|Number of Guest rooms||337|
|Number of F&B Outlets||Five outlets including Theos Restaurant, Fine Dining Room, Theos Bar, Theos Beer Garden Terrance and Theos Castaway Beach|
|Banquet/Conference/Meeting facilities||Two conference rooms for up to 80 people|
|Other facilities||400 sq m of fitness and spa area
Four retail and seven office tenants
|Car park facilities||150 car park lots for hotel and 48 car park lots for retail and office|
|Land area||~8,189 sq m|
|Title||Two freehold land plots|
|Vendor||EVENT Hospitality Group B.V.|
|Purchase price at 14 July 2017||£98.9 million (1)|
|Valuation (2) as at 23 February 2017||£103.5 million|
Master Lease Details [ – ]
|Master lessee||UP Hotel Operations GmbH & Co. KG (a wholly-owned subsidiary of EVENT Hotels)|
|Term of lease||20 years commencing from 14 July 2017|
|Minimum rental incometh||£3.6 million|
- (1)£98.9 million is based on H-REITs effective 94.5% interest in Pullman Hotel Munich, its commercial components and the furniture, fixture and equipment. This excludes the adjustment for net working capital of £1.7 million. On the basis of 100% interest, the purchase price is £104.7 million.
- (2)The property was valued by CBRE as at 23 February 2017 using the Discounted Cash Flow approach and based on a 100% interest basis.
Theodor-Dombart-Strasse 4, 80805 Munich, Germany
~8,189 sq m
CDLHT marked its maiden entry into continental Europe, with the acquisition of Pullman Hotel Munich and its office and retail components, consisting of a 4-star hotel with 337 rooms and a comprehensive suite of facilities, as well as secondary spaces currently let out to four retail and seven office tenants.
The hotel is strategically located adjacent to the commercial district of Parkstadt Schwabing, which is home to a variety of national and international companies. It boasts convenient accessibility, with motorways connecting Munich to Berlin and Frankfurt within a two-minute drive away, and the Munich railway station and Munich International Airport being accessible via a short drive. Travellers also have direct access to Munich International Airport via the Lufthansa Express Bus service, which stops diagonally opposite the hotel and runs at regular 15 minute intervals, offering significant cost savings and ease of travel to the airport within 25 minutes.
The hotel is also in proximity to many of Munichs popular tourist destinations including the English Garden, the BMW headquarters and Allianz Arena.
In 2012, the hotel underwent a full rebranding and renovation of its guest rooms, food and beverage outlets, spa and lobby areas.
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