Aengevelt Immobilien brokered the sale of Strandhotel Sylt in Westerland to André Grimmert. The transaction encompassed both the real estate and the operational business of the hotel. The seller of the property was HR Hotel Estate Sylt GmbH; the operational business was divested by Hotels by HR Sylt GmbH. With this acquisition, André Grimmert expands his portfolio under the Heimatquartier Hotels | Events brand to a total of six establishments.
As part of the sale, the acquirer took over the ongoing business operations and the existing employees of the 4-star holiday hotel. This ensures the continuation of operations under new ownership and creates a long-term perspective for the established hotel location in Westerland. The property is situated in the immediate vicinity of Westerland's main beach and is characterised by its serviced-living concept.
Property and location qualities
Strandhotel Sylt comprises 53 hotel rooms and suites. Additionally, it features an underground car park with 38 spaces, a fitness and wellness area, as well as public areas such as the lobby, a bar, and a breakfast/restaurant area on the ground floor. These features position the hotel in the upscale segment of the holiday hotel market on Sylt.
Max Aengevelt, Managing Partner of Aengevelt Immobilien, emphasised the outstanding qualities of Strandhotel Sylt and the strategic importance of the location. He highlighted that the acquisition represents a valuable addition to the buyer's hotel portfolio. The transaction was completed within less than two months after the start of marketing, which is attributable to a precise market approach and the close support of the parties involved.
Legal and tax advice
The transaction was legally and fiscally advised by several law firms. The seller's side was legally advised by Heuking, represented by Dr. Marc Scheunemann and Dr. Stefan Proske, for the property sale. The sale of the operational business was legally accompanied by Greenberg Traurig Germany, specifically Dr. Sara Berendsen and Franca Sonntag. The mortgage creditor was represented by White & Case, with Dr. Roland Arlt as contact person.
On the buyer's side, the process was legally managed by Dr. Sven Jansen from Hoffmann Liebs and fiscally by Stephan Auhagen, partner at Gummert & Partner. This comprehensive legal and tax guidance contributed to the structured and efficient execution of the sale.
