Development Business Opportunity In Lloret De Mar For Sale

Business description

Offer

5-floor building in central Lloret de Mar and a reconstruction project approved by local construction authority.

Building Information

The building is located on the third line from sea, Carrer Del Unio, a quite street with residential housing and a few hotels next to the crowded second line with shops and restaurants. This is approximately 300 meters from the beach and 200 meters from the historical centre of Lloret de Mar. A former 2 star hotel, it now stands prepared for reconstruction into any form of residential or commercial property.
With a total floor space of 800 m2 the first floor is a former reception area and bar, second through fourth floors each had 4 rooms with balconies on the sea side and fifth floor had two rooms with terraces. There is also a roof terrace suitable for sunbathing. The building has two entrances and a fire staircase. Currently the building is empty, prepared for reconstruction.

Project Information

The initial concept, approved by local authorities, was to reform the hotel into an upper class residential property of 9 flats. From the marketing point of view, upper class property enjoys more stable demand, less influenced by the general real estate market fluctuations. At the same time, a flat is easier in operation throughout the year as opposed to a villa.
Completion of the existing reconstruction project requires investment in the amount of up to 600,000 Euro and takes up to 12 months. Preparatory works, including removal of former interior and expert assessment of the building condition were performed.

Lloret de Mar

Lloret de Mar is located 70 kilometers north of Barcelona. It is widely quoted as the most popular resort on Costa Brava or mainland Spain, as well as among the most popular Mediterranean locations for younger tourists. According to the Statistical Institute of Catalonia, in 2010 Lloret had 128 hotels with 29,443 beds. While younger tourists are usually based in and around the center for clubs, bars and main beach proximity, Lloret has separate areas of 5 star hotels and quieter beaches. This includes the very exclusive Alva Park Resort and Spa.
With season starting in April and ending in October, Lloret has an annual number of tourists in excess of 1 million (‘Dossier de prensa’ by Lloret Tourisme Office). High season months are July and August. Some people also come for Christmas and Easter holidays.
In addition to its regular seaside tourist attractions, there are places of interest like Santa Roma Parish Church, En Plaja’s Castle, Santa Clotilde Gardens, Roman monuments, museums, etc. Very well situated centrally on Costa Brava Lloret de Mar can alsdo be a base location to travel both to Barcelona (1 hour by car, train or bus) and around Costa Brava for its places of interest, golf resorts, Michelin-star restaurants (El Bulli, El Celler de Can Roca, etc.), and natural beauties.
With Gran Casino Costa Brava opening in 2010, a new form of tourism is set to develop here, which may help further grow Lloret’s business attraction. The casino is larger in size and number of games offered than the famous casino in Marbella.
According to a statement made by the local authorities, the number of tourists in the first three months of 2011 is 42% above the same figure of 2010 (20minutos.es).

Details of Sale

The building is put for sale at the price of 1,250,000 Euro, 30% discounted from the 2008 market valuation. Mortgage cession may be discussed with a potential buyer.
The building was bought in late 2007, and preparatory works were finished by mid-2008. With the coming of the crisis the owner decided not to invest in reconstruction but kept the building as a safe long term investment. Now that the owner retires, the building is put up for sale as a business opportunity for other investors.
More pictures available upon request.

Contact Evgeny using the 'contact seller' form below for more information.

Property information

Real Estate:

Real Property Included

Business Operation

Reasons for selling:

Retirement

Other information

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Mortgage cession can be discussed