Fully Refurbed 116 Key Hotel Apartments in Lanzarote For Sale

By Dev Anand | 6 November 2020

Location: In the Heart of the Tourist Area, 400m from Beach, Quiet Part of Puerto del Carmen, Lanzarote, Spain

Name: Lanzarote Palm…can be changed

Guide Price: €12m

No. of Keys: 116 one-bed apartments, that can sleep 4 pax with sofa-beds

The Opportunity: The property was developed into low-rise tourist apartments over three storeys in 2015. The apartments have been refurbed to a four-star standard, each with one (some two) bedroom, lounge, kitchen, bathroom and terrace.

The central service allows for reception, one indoor restaurant with 140 covers, pool terrace bar with 70 covers, two pools – adult and kids, large garden area and back-of-house areas.

The project is fully finished. There is a plot of land adjacent that could be acquired to add another 34 apartments. GB

Main Photo: The site

Tenure: Freehold.

Brand/Management: Free to new owner

Current Owner: Local private family company

Guide Price: €12m

Guide Price per Key: €103,448

Financials: A full scheme of works completed, with sqm sizes is available, upon an EoI (Expression of Interest). Yield in 2019 was 6% plus.

Agent: The Hotel Property Team

Date Posted: November 2020

THPT Comment: A great opportunity to add a fab Lanzarote site, in Spain’s Canary Islands, to your portfolio.

Contact us for further information

This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”

Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@rrh.hmf.mybluehost.me.

MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT

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