Hotel On The Costa Del Sol For Sale

Business description

Location:
Located in the heart of the Costa del Sol, Andalucia Spain.

Marbella - 5 minutes by taxi or just 15 minutes walk to the centre and the beach.

45 Minutes to the Airport in Gibraltar
30 minutes to Malaga International airport.


Information concerning the Hotel

Background
The hotel is an emblematic building located in the foot hills of the local mountains overlooking Marbella with fabulous views over the surrounding coast and mountains. Closed for a number of years after the French operator Club Mediterranee went into liquidation.

The building itself is in very sound condition but requires refurbishment to bring the facilities up to date and to meet changes in Local Authority regulations. The Local Authority are very keen to have this hotel re-opened and will give all assistance and goodwill to the purchasers to assist their purchase and refurbishment programme.

The asking price for this particular property is somewhere around the value of the land that the property stands on.


Construction
Constructed in 1974 in traditional concrete with steel re-enforcing. The building comprises 3 wings and is constructed over 10 floors + ground and basement. Total construction runs to some 50,843 m2. Much use has been made of quality finishes including wood, marble and crystal. The building is generally in good condition but needs to be refurbished to comply with latest local and regional government legislation.
General Features
The property is approached from the main street via a short private drive to an imposing entrance/ set down area. There is a full width canopy over the electric glass entrance doors, leading to:

The Ground Floor which comprises:

• Grand foyer with two reception desks and offices behind.
• Small bar with servery and still room, store and offices behind and seating outside in the foyer
• Main restaurant with full commercial kitchen behind. Full access to the outside terrace
• Main exhibition/conference hall capable of accommodating 1,500 hundred persons with commercial kitchen off.
• Smaller function room capable of accommodating 350 guests.
• Golf/Piano bar
• 2 shops
• Ladies and gents toilets


Basement One

• Plant and machinery room, locker room and workshops
• Gymnasium, with indoor pool with 2 jacuzzis, weight room (no equipment), 4 Suanas, Turkish bath (steam room), changing rooms and toilet facilities
• Disco/night club


Basement Two

Accessed via a twin up and down escalator, offers 8 small retail outlets (small shopping mall)




First Floor (Floor Zero)

Comprises extensive administration offices, conference and meeting rooms. Ladies and Gents toilets.


Guest Accommodation

The Guests rooms are accessed through six lifts or a single staircase to each floor. There is a fire escape to each floor accessed via a fire door at the end of each corridor. Guests accommodation comprises:

502 Double Rooms spread over 9 floors, comprising entrance hall including wardrobe, case rack and ensuite bathroom off. Door leading to bedroom which 2 single beds, desk, chair and hot/cold air conditioning. Double patio doors leading to a full width balcony. Appx 28m2

35 1 Bedroom Suites spread over 9 floors, comprising: Entrance hall including wardrobe and case rack with ensuite bathroom off. Door leading to lounge comprising small fitted kitchen, fireplace, lighting, hot and cold air conditioning and double patio doors leading to a full width terrace. Off the lounge is a good sized bedroom comprising 2 single beds, hot and cold air conditioning, desk and chair. Also has full width patio doors leading to the terrace. Appx 40 m2

9th Floor Restaurant occupying one complete wing of this floor with fabulous views over the coast and mountains. Comprising dining area, night bar, full commercial kitchen, patio doors leading to a good sizes terrace, ladies and gents toilets and an office.




Outside

The grounds extend to some 70,000 m2 and offer the following facilities:

• Huge central swimming pool surrounded on all sides by extensive terracing
• Tennis courts
• Putting green
• Archery range
• Childrens Pool
• 170 Car Parking places
• 2 vehicular entrances
• Childrens club
• Volley ball court
• 5 aside football pitch
• Extensive tropical gardens


Refurbisment.

The refurbishment estimate would bring the hotel up to an excellent 4 star standard. Included is a complete upgrade of the electrical and mechanical services, including the standby power plant.
Additionally there is an offer from the electrical utilities company to install solar energy which would make the hotel entirely self sufficient for it´s electricity needs. This is a nil cost proposal but the purchaser would be required to contract with the utility company to purchase their supply for a period of 9 years. After this the hotel would be entirely self sufficient for it´s energy needs at no cost and any surplus could be sold back to the National Grid. Other grants are available from Regional Government to assist with the refurbishment.


Valued at around 100,000,000 Euros
For sale at 40.000,000 Euros + 3% Fees

Refurbishment costs around 24,000,000 Euros

Property information

Real Estate:

Real Property Included