Christie + Co reports busy October in Germany

7 November 2005

Despite the challenging economic environment, Christie + Co reports one of the busiest months since launching its German operation.

“I am pleased to confirm that we have completed four hotel transactions and two advisory projects in the last four weeks” says Christie + Co’s German Managing Director Markus Beike.

Christie + Co opened its first German office in Frankfurt in 1998 and the company has since strengthened its presence by opening additional offices in Berlin and Munich.

“We specialise in small and medium-sized hotel deals and we have completed more than 50 transactions within the last two years,” says Mr Beike. “However, the increasing number of instructions at corporate level tells us, that we can expand our services to bigger properties as well,” he adds.

Christie + Co recently handled the sale of three freehold hotel assets to private investors: “We sold an 81-bedroom business hotel near Düsseldorf,” confirms Mr Beike “a 200-bedroom conference hotel near Stuttgart, and a 24-bedroom private hotel close to Hanover.”

The company also completed leasehold transactions on two properties in Frankfurt and Wurzburg. “We were particularly pleased to negotiate a new 15-year leasehold contract on a Frankfurt hotel with the Dutch operator Golden Tulip. The 255-bedroom hotel is located in a popular business district.”

Christie + Co’s advisory team has also been busy. “We have an experienced valuation services team and provide a range of valuation and consultancy services in addition to our acquisition and disposal work. We most recently acted for a development company, which is working on new hotel schemes in Munich and Berlin.”

The outlook for Christie + Co’s German operation is very positive as the company further expands its team. “We are steadily increasing our market share, despite the continuously weak economic surroundings and we look forward to greater successes in the coming months.”

For further information on this press release, please contact Lorna Byrne at Christie + Co.
Tel: 020 7227 0797. lorna.byrne@christie.com