709190 | Menorca Bargain Apart-Hotel 150 A Valued 2017 €27M

Menorca Bargain Apart-Hotel 150 A Valued 2017 €27M now €11.5 M , It is distributed in 10 buildings with a total of 150 apartments with an average surface of 25 m2 and private terraces with an average of 10 m2 in Spain.

Apart Hotel complex on the seafront in Menorca

Property Description

Hotel complex for sale, located on the seafront in Menorca, 3 km from the city of Mahon and 10 km from the airport.

It is currently divided into two parts. In the first one of 4.957 m2, there is a reception, swimming pool area, and a central terrace. The second independent part of 1.682 m2 with its own swimming pool. Both parts are located on the plot of 8.394 m2 and connected by an internal walkway.

It is distributed in 10 buildings with a total of 150 apartments with an average surface of 25 m2 and private terraces with an average of 10 m2.
There are also kitchens, restaurant, cafeteria, large terraces, community lounges, 2 swimming pools for adults and 2 for children.

The complex is for renovation (needs facade washing).
There is an estimated budget of about 2,000,000 euros based on the prepared renovation project.

Valued by TINSA in 2017 for a cost of 27,000,000 euros.

Currently, the activity license is registered as a 3-star Aparthotel with 150 rooms and 367 beds.
After the renovation, the complex can obtain a higher 4-star rating.

We are ready to provide with more detailed financial data upon signature of soft LOI (without penalties for non-buying) showing the financial credibility and interest of the potential buyer