The property is to be converted into a hotel as part of a partial redevelopment
The Hamburg-based family business May&Co has acquired a property right next to Cologne Cathedral. The property at Dompropst-Ketzer-Straße 1–9 has a total above-ground floor area of around 8,000 m² and was most recently used as an office and retail building. May&Co plans to convert it into a ‘refined mid-scale hotel’ with a gross floor area of around 13,200 m² and around 40 underground parking spaces. As part of the redevelopment of the existing building, which was constructed in 1974, the two basement levels are to be retained and the above-ground storeys replaced by a new building. Completion is scheduled for mid-2030.
JLL advised the seller on the transaction and facilitated its completion. Legal advice to the seller was provided by the law firm Loschelder. The buyer received legal advice from the law firm Arnecke Sibeth Dabelstein and technical advice from Novia Consulting GmbH.
