Bonn/Düsseldorf – The Hamburg-based developer Centralis has acquired two well-known hotel properties in North Rhine-Westphalia: the historic Sternhotel in Bonn and the City Hotel in Düsseldorf. The two assets will follow different development strategies.
Earlier this month, the owner-managed developer purchased the Sternhotel, located at Markt 8 in Bonn. Situated on a site with over 400 years of hotel history, the landmark property is slated for a comprehensive energy-focused renovation. Built in 1620, the fully let building comprises 5,600 sqm, of which approximately 3,900 sqm are dedicated to hotel use. An additional 140 sqm are allocated to retail and gastronomy. The asset also houses Bonn’s oldest cinema, which features three screening rooms. Centralis plans to modernize the building’s technical infrastructure, introducing district heating and photovoltaic systems. The broader energy-efficiency upgrades aim to reposition the historic property as a “stabilized core asset.”
In mid-January, Centralis closed a second transaction in North Rhine-Westphalia with the acquisition of the City Hotel at Pionierstraße 6 in Düsseldorf. Originally built in 1952 and expanded in 2001, the property comprises 92 rooms and includes an underground garage with 50 parking spaces. The total site area spans 3,200 sqm. Centralis plans to convert the building into 98 serviced apartments, which will be operated by Limehome. The operator has already been secured as a long-term tenant.
Sustainability upgrades are also planned for the Düsseldorf asset to ensure ESG compliance. These measures include the implementation of district heating, photovoltaic systems, a combined heat and power unit (CHP), and an optimized building envelope. The project volume is expected to fall within the low double-digit million-euro range.
Centralis sees its counter-cyclical investment strategy validated by these acquisitions. “We currently observe the most attractive entry opportunities since the 2007/2008 financial crisis,” said Fabian Vieregge, Founder and Managing Director of Centralis.