Hotel for Sale in Greece

Waterfront Distressed Hotel Sold at Bargain Price

3* WATERFRONT HOTEL OF 503 ROOMS IN CHALKIDIKI CONFISCATED BY THE GREEK STATE AND SOLD AT BARGAIN-PRICE!

The hotel last operated in 2011, when it was confiscated by the Greek State. It used to be one of the most prominent hotels in Chalkidiki, the most touristic destination in northern Greece.
Description:

• 503 rooms & bungalows- 955 beds
• 24.375 sq.m. buildings
• 86.962 sq.m. waterfront land
• 800 m. sandy beach
• Last operated in 2011
• Indoor & Outdoors swimming pools
• 2 Restaurants, Bar, Beach-bar, 5 shops, Hairdresser’s, Disco, Parking, Gym (sauna, solarium), 3 Tennis courts, Mini golf

The property is sold in closed auction with the starting price being fixed at 17,000,000€. Interested buyers should deposit beforehand a deposit equal to 10% of the starting price. A big advantage is the repayment way: upon signing of the contract 40% should be paid in bank check or cash, while the rest 60% in six (6) years period with 6-month, 3-month or monthly instalments.

Given the very low starting price (roughly at 50% below current market price) as well as the potentials of the unit when put in operation again its projected ROI is particularly high.

Please feel free to contact us for additional information and projections, as well as for various hotels for sale in Greece.