IC Immobilien Gruppe extends long-term lease agreement with Motel One Cologne-Waidmarkt

IC Immobilien Gruppe has extended the lease agreement with Motel One GmbH for the hotel Motel One Cologne-Waidmarkt in the course of an early extension; the new agreement is a long-term one, through to the year 2043.

Motel One Cologne-Waidmarkt is located in the heart of the city’s historic centre, directly between the two large squares Neumarkt and Heumarkt. Opened in 2012, the hotel was given an interesting redesign in 2019, with everything now revolving around the local cult fragrance “4711” from the long-standing brand “Original Eau de Cologne” and the nearby River Rhine, one of the world’s busiest waterways for freight and passenger ships.

The designer hotel, for which IC Immobilien Gruppe has also been mandated with the asset and property management, has a total leasable area of approx. 9,500 square metres and 369 rooms. The owner of Motel One Cologne-Waidmarkt and of other hotel properties belonging to renowned hotel chains is a private investor.

“We are pleased with this early and very lengthy lease extension as it reflects the satisfaction of the tenant and the trust he places in this property,” says Markus Reinert FRICS, the Chairman and CEO of IC Immobilien Holding AG.