CV Real Estate has acquired a built-up plot of land in Ingolstadt through the CV Projektentwicklung GmbH. The site of around 5,500 m² is located on Hebbelstraße, an established business location in the northeast of the city. CV Real Estate is planning to realize a hotel in the size of 170 to 200 rooms on the property, which will primarily adress business travellers. The total volume of the project is expected to be 30 million euros.
“The macro and micro location of the location is excellent,” says Christian Vogrincic, founder and CEO of CV Real Estate. “Ingolstadt is prospering as a business location – also, but not only due to the Audi automobile plant located there and the corresponding suppliers. Moreover, our analyses have shown that there is still a lack of hotel capacity in the city, especially in the two to four-star segment.”
The acquired property is located in the direct neighbourhood of the Ingolstadt-Nord junction to the A9 motorway (Nuremberg – Munich) as well as the federal road B 16a, which leads from there to the historic centre of the city with around 130,000 inhabitants. “A hotel in this location will have excellent visibility and will be of particular interest to business travellers due to its excellent connections,” adds Anatol Obolensky, CEO and Head of Acquisition at CV Real Estate.
CV Real Estate is currently developing another hotel project in Feldkirchen near Munich. The foundation stone for the four-star hotel with good connections to Messe München was laid in March this year. The completion of the property, in which the Tristar Hotel Group will operate a Hilton Garden Inn, is planned for the first quarter of 2020.
CV Real Estate was advised by Wagensonner Rechtsanwälte on the transaction in Ingolstadt.