Investment Opportunity Four-Star 56 Room Superior Hotel Palma, Mallorca…Scope to Make 72 Keys

Location: Es Forti, 20 minutes walk from City-Centre, 10 minutes from Santa Catalina, Palma, Mallorca. 10.5km from Palma Airport

Name: TBA

Guide Price: €14m

No. of Keys: 56…scope to add rooms to make 72 rooms

The Opportunity: An investor is sought for this opportunity to build a four-star superior hotel, with an agreed operator in play to take a lease, from opening, planned for September 2021. The design allows for a restaurant, rooftop bar and pool, spa and meeting rooms.

The building will be six floors (plus back of the house in two sub- ground floors) with around 3,000 sqm of internal floor space.

The envisaged finish of this new hotel

The operator is offering 15 year lease, with a five-year extension, with guaranteed minimum incomes (NOI), backed-up by bank guarantees. The hotel is 80% completed. JE

Main Photo: The view from this hotel

Current Owner: Private family

Flag and Management: A brand with other hotels under management, in Spain. Can be kept on or VP is available

Tenure: Freehold

Agent: Local agent in partnership with The Hotel Property Team

Guide Price: €14m, as a finished 56-key hotel, ready to open. For a further €4m  another 16 rooms could be made

Guide Price per Key: €250,000

Date Posted: November 2020

THPT Comment: Fab opportunity to secure this boutique hotel in a fab location in Palma.

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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”

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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.