Mühle Forchtenberg

Mühle Forchtenberg – Forchtenberg, Germany

Key Service: Hotel Planning & Development
Location: Forchtenberg, Germany
Product: Feasibility Study, Plausibility check of the lease and value indication, Economic efficiency calculation

Overview

The town of Forchtenberg planned to use the dilapidated Kochermühle in the town area as a hotel and restaurant.
The historic core of the town with its medieval old town, including the mill, is a listed building. Since the 1970s, Forchtenberg has succeeded in redeveloping its town center, including its historic ambience, while at the same time building up a good infrastructure. Accordingly, the town is considered a prime example of the successful coexistence of the old and the new.
The intention of the sellers and the client is to preserve the mill as a part of Forchtenberg with access for the inhabitants. The Office for the Protection of Historical Monuments is in favor of renovating or converting the mill into a hotel.

Solution

The city of Forchtenberg commissioned Prof. Dr. Christian Buer to prepare the evaluation or site assessment (feasibility study) as well as a plausibility study of the lease and value indication of a hotel at the Kochermühle site in Forchtenberg. The study included a location analysis, a market and competition analysis, a SWOT analysis, the creation of a product concept and the profitability forecast.

Implementation

The project site is located in the flood zone of the municipality. A comprehensive modernization of the flood protection system has already been approved and the construction work required for this is planned for a period in 2023 and 2024. Parallel construction works for the flood protection and the planned hotel are not possible, which is why a start of construction for the hotel object is possible in 2024 at the earliest, but more likely in 2025. In addition, there are delays due to the Corona pandemic.