Crete Beachfront Hotel For Sale

The hotel complex for sale comprises of total seven (7) buildings - 1.000m² plus basement area of 400m². The apartments are arranged on five (5) of the buildings, all offering sea view.

- Sixteen (16) apartments are 45m², with three (3) beds each
- Four (4) apartments are 33m², with two (2) beds each

and all are provided with WC/Bath, Air conditioning Satellite TV / Radio
Kitchenette with Refrigerator, Hair Dryer, WIFI Internet, Safety boxes, and Radiator installation

Furthermore are available:

* Outdoor Swimming Pool 12x8m - 1,60m depth (fresh water)
* Children's outdoor swimming pool 4x6m - 0,50m depth (fresh water)
* Bar (30 seats)
* Reception area (120m²)
* TV Room
* Internet Corner
* Children Playground
* Table Tennis and Billiards
* Beach Chairs
* Private Parking
This hotel business for sale is working mainly with English and Scandinavian Tour operators, and during the months July and August is also directly booked via internet by Greeks. Through the bookings it is earning annual 90.000 Euros, and the bar is generating additional income of 30.000-40.000 Euros per year along with the air-condition charges, safety boxes and breakfast services.

Currently employed are:

* Two (2) person for the reception and bar area - monthly payment 2.000 Euros
* Two (2) cleaners - monthly payment 1.300 Euros and
* One (1) part-time gardener, paid according to accomplished hours
Valuation of property value

* Land of this size and classification in this area are by 2010 at 600.000 Euros. With a total building density of 1.200m², the square meter price is 500 Euros.
* Estimated construction costs for a building sized 1.400m² are by 2010 in total 1,2Mill Euros, resulting in a square meter price of 857 Euros.

The land of 3.000m² is in the building plan and the building density is calculated with a ratio of 0,4 which allows to extend the complex of 200m² if needed.

What makes this property a real bargain is the fact that you are buying a well known hotel of which the building is in total 1.400m².

This means that one, with the price of 1.400.000 Euros is buying just 1.000 Euros each built square meter, without even considering the cost of the swimming pool and the plot with the extra building capacity which are included in this most attractive price…


Location

Located at the North-West Coast of Crete and only 15 minutes away from the city of Chania, with its ancient and modern monuments, the Venetian Harbour and the old town, set on a sea front location with the beach at your doorstep close to shopping facilities, local cafes, restaurants and other services offered in the villages of Platanias and Maleme.


Why Greece?

* It has strict build density regulations, which will avoid major developments in future and thus overbuilding
* Only 3½ hours from London and many European cities making it a viable weekend break holiday destination
* Voted by the Lonely Planet Guide 2010 as one of the top 10 countries in the world to visit

Price (Euros) 1400000

Previous Price (Euros) 1750000

Build area (m²) 1000 + 400

Land area (m²) 3000

By sea yes

Sea View yes

Mountain View yes

Outskirt Village yes

Garden yes

Trees yes

Swimming pool yes

Parking yes

Air Condition yes

Electricity yes

Water yes

Phone yes

Distance to airport, km 29

Town Distance, km 16

Property State Excellent condition

EOT licence Available

Furnished yes