Location: On an island, Mandovi River, Goa – 10km from Panjim
Name: Island House
No. of Keys: 14
The Property: The Island House is estimated to be more than 200 years old. The property is 4200 sq mtrs land, with the built area around 900 sq mtrs and has 14 en-suite bedrooms, swimming pool and a large garden area.
Island House aims to offer the resident or the visitor an experience of living in an affluent old Indo-Portuguese house at the same time a retreat for the soul. Guests experience a very relaxed way of living here which reflects the village life in Divar.
Divar is one of the last protected parts of Goa in terms of flora, fauna and culture. This is where the sounds of birds are still more audible than vehicles and man. The island is a dream retreat as residents/ visitors are living in tandem with nature, clean air and peaceful surroundings yet close to the city and all other Goan attractions.
The property has a lot of history attached to it and is very close to the historic Portuguese capital of Old Goa – Panjim, as well as the Piedade church within Divar island and only a 40-minute drive from the airport.
However, the beauty of the island is that it still reflects the old Goan way of living because it is not connected to the mainland with bridges (mainly due to the opposition of the villagers). This has been the main reason that the island still reflects the old Goan village scene and lifestyle which is now almost wiped out of rest of Goa.
The Island is connected to old Goa on the south-east side, Ribandar on the south-west side and Narve on the north side, all by ferry. The drive to the village is scenic, with mangroves, paddy fields and wooded hills lacing the roadway, very typical of the Goan countryside.
Main Photo: The Island House
Brand/Management: Flag and management free…current operations/management team willing to stay in place
Current Owner: Private family
Yield/Financial: Accounts for past three years available on signing NDA
Guide Price: 10 Crores Rupees – £1,130,000 – Bank loan in place for 3 Crores Rupees – thus 7 Crores Rupees of fresh equity required.
The property is currently held within a Private Limited Company, which brings a Stamp Duty cost saving of between 9-10% on the asset value. Post debt due diligence original documents are with the Bank of Baroda.
Date Posted: June 2019
Agent: The Hotel Property Team
THPT Comment: Would suit owner-manager, perhaps an experienced hospitality veteran waiting to own and operate their own hotel in this idyllic part of India.
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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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