Real estate appraisal former GAK-Building – Amsterdam
Project description: Steenvastgoed redevelops the middle block of a monumental office building at the Bos and Lommerplantsoen in Amsterdam. Due to the strong performance of the Amsterdam hotel market, the developer considers creating serviced apartments and operating the building as a short stay hotel. To provide insight into the future market value of the property, Horwath HTL has been commissioned to carry out an appraisal of the proposed hotel.
Horwath HTL approach: The valuation was executed following the guidelines of the Royal Institution of Chartered Surveyors (RICS) and resulted in an independent and clear valuation. The variables that impact the demand and supply were carefully analysed, resulting in the financial projections forming the basis for the potential future market value of the building.
Project status: The developer is conducting its operator search.