Hotel for Sale in Greece

Waterfront Hotel at Bargain Price

UNIQUE PROPERTY SOLD BY THE GREEK STATE AT 65% BELOW ITS COMMERCIAL PRICE

This exclusive waterfront hotel on Euboea island (2 hours drive from Athens), consists of 19.433 sq.m. waterfront lot and 6.747 sq.m. vacant hotel buildings.
Genecon Development proposes the acquisition and full transformation of the existing buildings into a 4* or 5* luxury hotel, or alternatively into luxury furnished apartments - a current trend in the tourism market.
Due to the unique location of the unit (right on the waterfront with unimpeded view of the ocean and next to a beach with crystal-clear waters), the unit is also ideal for various water sports, snorkeling activities (an innovation for Greece), as well as healing facilities.

ADVANTAGES:
• Distressed property of the Greek State, transferable without encumbrances, legally checked on all aspects. Due to the current economic crisis, the acquisition cost is 65% less from its commercial value.
• The property consists of 19.433 sq.m. land plot and 6.747 sq.m. vacant hotel buildings.
• Situated right on the waterfront (370m. length), as it was built before 1990. Current Greek legislation does not allow to build that close to the coast.
• Unique, unimpeded view of the Aegean sea.
• Adjacent sandy beach.
• Next to a luxury stone-villas complex and very close to a picturesque small village.
• At 15 minutes distance from a vibrant city with restaurants, commercial center, hospital, various services and nightlife.
• The mayor and local authorities of the area are keen on helping the potential investor by upgrading the surrounding area (plants, trees) and offering services of all kinds (permits for dock and watersports). The underpinning intention is to promote the area and create new jobs for the local population.
Our development company has prepared all the necessary plans and studies for the full transformation of the existing buildings into a 4* or 5* hotel, or alternatively into 5*luxury boutique apartments - a current trend in the tourism market:

A. 4* HOTEL
Number of Rooms: 125
Number of Beds: 302
350 sq.m. Pool with Pool-bar
Restaurant, Café-bar
Gym, Tennis court, Playground, indoor Shops
Water sports (water-skiing, scuba diving, windsurfing)
Multipurpose – Conference Hall with capacity for 180 participants
Development cost (licensing, construction and equipment): 8,530,000€
Available comprehensive Feasibility study, Business Plan, Architectural plans.

B. 5* HOTEL
Number of Suites: 82
Number of Beds: 244
350 sq.m. Pool with Pool-bar
Restaurant, Café-bar
Spa, Gym, Tennis court, Playground, indoor Shops
Water sports (water-skiing, scuba diving, windsurfing)
Multipurpose – Conference Hall with capacity for 180 participants
Development cost (licensing, construction and equipment): 12,230,000€
Available comprehensive Feasibility study, Business Plan, Architectural plans.

C. LUXURY BOUTIQUE APARTMENTS
Number of Apartments: 36 (varying from 50 - 108 sq.m.)
Number of Bungalows: 5-15 (various sq.m. options)
350 sq.m. Pool with Pool-bar
Restaurant, Café-bar
Spa, Gym, Tennis court, Playground, indoor Shops
Water sports (water-skiing, scuba diving, windsurfing)
Multipurpose – Conference Hall with capacity for 180 participants
Development cost (licensing, construction and equipment): 12,230,000€
Available comprehensive Feasibility study, Business Plan, Architectural plans.

Alternative solutions:
• Due to the proximity of the hotel to Athens (max. 2 hrs), it would be ideal for the all year round organization of conferences and symposiums. Due also to the proximity to a nearby big city (15 min.), it could attract local population for various year-round events (weddings, baptisms etc.)
• The unique location of the hotel, right on a 370m. waterfront with amazing view of the sea and crystal-clear waters, make it ideal for an innovative for Greek standards development: that of snorkeling facilities. An additional study is already on course by Genecon Development (restoration of aquatic ecosystems, fish habitat improvement etc.)
• Due to the calmness, sea proximity and sense of privacy that the location conveys to the visitor, the hotel could include various healing facilities that appeal to modern city dwellers (stress therapies, dermatological cures closely associated with the exposure to sea iodine etc.)
This property is handpicked among many others properties from our company as is considered currently the best value for money investment in Greece for its prospect yields with an estimated 12%-16% ROI (all estimations included in the Business plan).

For additional information and comprehensive studies of the above investment, as well as various hotels for sale in Greece, please do not hesitate to contact us.