Centralis expands portfolio with two prime acquisitions in Germany’s serviced apartment sector

Centralis Immobilien GmbH (Centralis), a leading property developer and investor specializing in serviced apartments and hotels in prime locations, has acquired two landmark properties in Bonn and Düsseldorf, reinforcing its growth trajectory in Germany’s hospitality sector. The total project volume for these acquisitions is approximately EUR 50 million, with plans for comprehensive modernisation and strategic repositioning of both assets to align with ESG standards.

Landmark Acquisition: Sternhotel in Bonn

Centralis has acquired the iconic Sternhotel in Bonn, a property with a 400-year history and a central location on the city’s marketplace, adjacent to the historic city hall and prime retail areas. Previously under family ownership for 120 years, the 5,600 sq m property is fully let and houses an 80-room hotel spanning 3,900 sq m, along with 140 sq m of retail space, 560 sq m for cafés and restaurants, and Bonn’s oldest cinema with three screens.

The modernisation plans for Sternhotel include replacing building services, integrating district heat, installing photovoltaics, and implementing energy-efficient technologies to achieve ESG compliance. The aim is to transform the property into a refurbished, energy-efficient core asset with long-term leases in place.

Düsseldorf City Centre Hotel to Become Serviced Apartments

The second acquisition is a centrally located hotel at Pionierstrasse 6 in Düsseldorf, near the CBD, main railway station, and Königsallee. Originally built in 1952 and expanded in 2001, the property features 92 rooms and a 50-space underground car park, with a total floor area of 3,200 sq m.

Centralis plans to convert the hotel into 98 serviced apartments, integrating ESG-compliant upgrades such as district heat, a combined heat and power plant, photovoltaics, and an optimised building envelope. Upon completion, the property will be leased on a long-term basis to limehome, a leading operator of digitalised designer apartments in Europe.

Strategic Vision for 2025

Dr. Fabian Vieregge, founder and Managing Director of Centralis, remarked:
“In 2024, our countercyclical approach proved highly successful. As we move into 2025, we are identifying opportunities that represent the most attractive market entry points since the 2007/2008 financial crisis. We believe modern hospitality concepts, particularly serviced apartments in city centres, will play an increasingly prominent role in the hospitality asset class.”

The acquisitions in Bonn and Düsseldorf align with Centralis’ strategy to establish innovative hospitality concepts in Germany’s primary and select secondary cities. This follows the company’s November 2024 announcement of a project to construct 88 serviced apartments in Hamburg. In 2025, Centralis plans to significantly expand its project volume, targeting individual developments of up to EUR 50 million alongside further strategic acquisitions.

These latest moves solidify Centralis’ position as a forward-thinking leader in the evolving serviced apartment and hospitality market in Germany.