For sale in the heart of Tallinn, just a few hundred meters from Viru Keskus, a 5-story building with a private parking area, completely reconstructed in 2020.
Today, the building houses the 81-room City Yard Inn hotel, with an average rating of 8.9. There is a restaurant on the first floor and other commercial premises in the building. There are 97 apartment properties in total in the building.
The greatest value of the building is its flexible use potential. The entire building is legally and officially divided into apartment properties. All rooms are mini-apartments with a toilet, shower and kitchenette, which allows us to consider continuing the hotel business, a long-term rental model, individual sale of apartment properties, as well as developing the building into an apartment building.
During the complete reconstruction that took place in 2020, the technical systems, interior walls, facade, windows and doors were updated. All rooms have fire and noise-resistant doors, a kitchenette and furniture.
The building has energy-efficient technical solutions:
* 3 heat pumps for heating and cooling water and supply air;
* ventilation system with heat recovery;
* forced ventilation and cooling;
* elevator.
The restaurant on the first floor consists of two halls and can accommodate a total of 100 guests. Part of the restaurant space can also be used for other business functions that require display windows and a separate entrance.
The property is located in a quiet courtyard and has a private parking lot for 17 cars. The location combines the conveniences of the city center and the peaceful environment of the courtyard.
EBS and Tallinn University are nearby, where over 8,500 students study together. The area also has offices of IT companies with an international workforce, which supports the demand for smaller apartments and rental spaces.
From the hotel’s point of view, the strength is the city center location, parking facilities, and good connections to the port, airport, bus station, and public transport. The property is located on the road from the port to the city center.
This is a rare investment property, suitable for continuing the existing hotel business as well as for selling or renting out apartment properties, developing an apartment building or combining these solutions.
Contact us for more information.