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Hotel Under Extension - $11M - St. Petersburg

City hotel, hottest property sale $11M

Hotel under extension, ongoing restaurant, cafe, office center.
Prime location, St. Petersburg main street.
Truly investment-grade product.

Extension includes from 50 to 80-suites on 6 floors, each between 720 and 550-square meters.
Total area 6,000 square meters
Useful area 4,700 square meters
Built-plot area 1,200 square meters
Total building volume 30,000-cum.

Street front line stately historical facade.
Car parking zone alongside.

Quick sale and registration.
Absolutely clean title.
Impossible restitution.

The potential for the development of business tourism in Russia is really unlimited.

Hotel operators and market players have strong faith in the future of the city and certainly wish to play their part.
Operators are primarily focused on the MICE (Meeting, Incentives, Conferences, Events) segment of the market by catering for the every need of the modern business traveler.

Interested hotel operator gets access to M&A private equity funds.
Capital growth can be considerable even over a short period of time.

With hundreds of foreign managers and executives coming to St. Petersburg, real estate prices will rocket, especially in old historical districts, where nice properties are in short supply.

City market feels shortage of hotel capacity, and 12,000 new hotel rooms are needed by YR2012, as City Hall order declares.

Foreign investors in all sectors have to be feet of foot to compete with cash-rich local buyers who may have lighter due diligence standards within 30 days.