Sale hotel 390 m²
Las Palmas,Španělsko
Description
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We are offering for sale an accommodation facility located on Del Castillo Street in the town of Las Palmas, near the center of Vegueta. The facility has a usable area of 389.59 m², divided into two floors. The first floor covers 334.17 m² and consists of 12 elegant rooms, each with its own bathroom, modern TV, and air conditioning. The second floor has a usable area of 55 m², featuring a fully equipped kitchen, living room, and an outdoor terrace with views of the Santa Ana Cathedral (plus approximately 150 m² of unused terrace space). The terrace offers opportunities for cultural and gastronomic activities for guests.
The accommodation facility has been fully renovated, eliminating the need for further investment in renovations. It is therefore possible to immediately begin renting out the rooms or continue its operation.
Las Palmas enjoys a "season" all year round, thanks to its subtropical climate with pleasant temperatures, making it an attractive destination for both tourists and residents. The city offers a high quality of life, developed infrastructure, quality healthcare, and education, along with a rich gastronomic, cultural, and entertainment scene.
Vegueta is one of the oldest districts of Las Palmas de Gran Canaria, founded in the 15th century. It is known for its colonial architecture and cobblestone streets, where you can find significant landmarks and historic buildings, such as the Santa Ana Cathedral, Columbus House, and the Canary Museum. This historical context attracts tourists who love culture and history.
Vegueta does not have a high concentration of hotels compared to other areas, but the number of accommodations and tourist apartments is growing due to its historical and cultural appeal. In recent years, hotel occupancy has been around 70% annually. This project is highly viable due to its strategic location near the historical center of Vegueta, allowing for the development of various tourist activities. The main bus station is only a 13-minute walk away.
The net rental yield, when reflected in the asking price, was 6.40% for 2022, and 7.25% for 2023. (The company hired to manage the operation of the accommodation predicts a potential yield of 11.48% p.a. for future periods.)
The property is priced at €990,000, including the real estate commission. Annual operational costs for cleaning amount to €15,000, for intermediary platforms €20,000, and for property management €25,000.
Projected rental income at 90% occupancy is €490,000 p.a. Annual operating costs may increase by 7-8%.
The offered property corresponds to 1/4 of a historic house. However, there is now the option to purchase the remaining 3/4 under the following conditions: 2/4 before renovation (each for €450,000) and 1/4 after renovation for €900,000. Thus, the total cost would be €1.8 million.
The accommodation facility has been fully renovated, eliminating the need for further investment in renovations. It is therefore possible to immediately begin renting out the rooms or continue its operation.
Las Palmas enjoys a "season" all year round, thanks to its subtropical climate with pleasant temperatures, making it an attractive destination for both tourists and residents. The city offers a high quality of life, developed infrastructure, quality healthcare, and education, along with a rich gastronomic, cultural, and entertainment scene.
Vegueta is one of the oldest districts of Las Palmas de Gran Canaria, founded in the 15th century. It is known for its colonial architecture and cobblestone streets, where you can find significant landmarks and historic buildings, such as the Santa Ana Cathedral, Columbus House, and the Canary Museum. This historical context attracts tourists who love culture and history.
Vegueta does not have a high concentration of hotels compared to other areas, but the number of accommodations and tourist apartments is growing due to its historical and cultural appeal. In recent years, hotel occupancy has been around 70% annually. This project is highly viable due to its strategic location near the historical center of Vegueta, allowing for the development of various tourist activities. The main bus station is only a 13-minute walk away.
The net rental yield, when reflected in the asking price, was 6.40% for 2022, and 7.25% for 2023. (The company hired to manage the operation of the accommodation predicts a potential yield of 11.48% p.a. for future periods.)
The property is priced at €990,000, including the real estate commission. Annual operational costs for cleaning amount to €15,000, for intermediary platforms €20,000, and for property management €25,000.
Projected rental income at 90% occupancy is €490,000 p.a. Annual operating costs may increase by 7-8%.
The offered property corresponds to 1/4 of a historic house. However, there is now the option to purchase the remaining 3/4 under the following conditions: 2/4 before renovation (each for €450,000) and 1/4 after renovation for €900,000. Thus, the total cost would be €1.8 million.
Other parameters
- long-distance water supply
- road, mhd, bus
- internet, cable television
- No
- public sewer
- 2
- č. 264/2020 Sb.
- 230V
- 390 m2
- After reconstruction
- Brick
- G - Extremely inefficient
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