Residential property in Old Riga
Located in the heart of Riga - the Old Town - a renovated 4-storey building, built in 1898, is for sale and currently houses a new boutique hotel ‘Sherlock Art Hotel’. Its unique concept, appearance and interior design show special respect for the work of the famous British writer Arthur Conan Doyle and his legendary hero, detective Sherlock Holmes. The hotel has seventeen rooms (29 to 63 square meters) in the Suite, Superior and Studio categories, decorated in a Victorian style. Each room has a unique décor, and its interior is associated with one or another hero of Arthur Conan Doyle or the detective story, after which the rooms are named. Most apartments are two-room apartments with a seating area, a work area and a cozy bathroom. Kitchen areas are equipped with the necessary appliances. According to customer ratings, the Sherlock Art Hotel is one of the highest valued tourism objects in Riga, which confirms the investment attractiveness of this object.
The advantage of investing in this house property is that all the rooms of the boutique hotel have the legal status of apartments at the same time, and therefore this property can also be considered a full-fledged rental house. This diversifies the risks for new owners.
The total area of the house on Maza Monetu Street 3 is 1,354 square meters, of which 901 square meters are a boutique hotel. On the first floor of the building there is the famous Latvian fast service restaurant network Lido, which is one of the most popular public catering places in Old Riga. Lido has a long-term lease and the average monthly payment in recent years has been € 11,000, excluding utilities.