Former bank building gets serviced apartment conversion in Essen

George Sell George Sell Uploaded 05 October 2018

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Germany: Cayros Capital Partners has completed the refurbishment of a former branch of Commerzbank in Essen, and begun marketing the serviced apartment building as My Moyo.

The centrally-situated 11-storey building at Lindenallee 4 is in the business and banking district on Willy-Brand-Platz. The 137 serviced apartments were completed last month.
 
The fully-furnished apartments vary in size between 18 and 45 square metres and feature high-quality furnishings, parquet flooring, French windows and large-format tiles. Kitchens are equipped with a dishwasher, microwave and espresso machine. LED televisions, W-Lan connections and a concierge service are included in the standard fit-out and service of all the units. Lifts provide access to all ten floors, including the underground car park. The ground floor has two F&B outlets, Burgerista and The Ash.
 
My Moyo Essen is managed by ipartement, which is also responsible for the marketing, in association with Zweitwohnen Rhein-Ruhr and TheHomelike.
 
Daniel von der Schulenburg, managing partner at Cayros, said: "With the launch of My Moyo, we are meeting the heavy demand for short-term housing in Essen. In our view, this trend will continue and become even more established in German metropolitan regions. The central situation of My Moyo, together with the optimal amenities in Essen, provide real added value for those seeking short-term housing in an appealing ambience."
 
Cayros acquired the property in June 2016.

For all the latest discussions on the German serviced apartment sector and byond, don't miss Serviced Apartment Summit RECHARGE in Berlin next January.

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