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Hotel for sale in the heart of Jerusalem - ₪350000000 (Center of Jerusalem)

condition: excellent

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THE HOTEL
● The hotel currently stands on a field of 11,610 square metres
○ 7,700 for the main surface
○ 3,910 for the service surface
● There are currently 137 rooms, among which 20 suites
BUILDING PERMITS
The hotel comes with a building permit approved by the Jerusalem municipality, opening the
right to build up to 400 rooms in the hotel.
1. It means building 263 more hotel rooms. The hotel will be then stand on a 22,420
square metres field:
a. 16,585 for the main surface
b. 5,845 for the service surface
2. A parking will also be built for the hotel clients: around 380 parking spaces, about
15,225 square metres.
In total, the overall building will be about 49,225 square metres, four times the size of
the current hotel.
3. Also, the “takana 107” says that besides the building permit of the hotel’s 49,255 square
meters, there is an option to add around 3200 square meters to build residential
housing.
PRICE
● The asking price for the Hotel and the additional building permits will be between ₪300
to ₪400 millions (broker fees not included).
○ The price will depend on the obtention of permits to build the 3200 square metres
of residential housing.
○ Without considering this building option, the price will be around ₪300 millions
shekels
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post id: 6944085806

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