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Hotel for sale in Milan, Italy, 2300 m²

Hotel for sale in Milan, Italy, 2300 m² - photo 1
Covered area2300 m²
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The photograph shall be solely for illustrative We offer for sale a hotel of category 3 stars, located in the centre of Milan, in a 7-minute walk from the Duomo. Currently the hotel is under reconstruction. A separate building with an area of 2 300 square meters, a total of 7 floors and 1 basement. 48 rooms, a restaurant on the ground floor. The cost of the building – 16 000 000 Euro. The approximate cost for completion of the project for a boutique hotel with 46 rooms + restaurant - 1 000 000 Euro. Upon delivery of the hotel management company, is ready to conclude an agreement on the management of 9+9 years for a profit of 900,000 Euros per year. When you lease restaurant for a profit of 200 000 Euros per year

Extra Сosts when Buying Property

Notary fees, of the declared price 2.5 - 4%
*dwellings sold within five years of completion of construction or restoration.
Registration fee from €200
Mortgage tax from €200
Cadastral tax from €200
- for first-home resident buyers 4%
- for second-home and non-resident buyers 10%
- on luxury homes 22%
Registry Tax, of the declared value 3-7%
Registration fee from €50
Mortgage tax from €50
Cadastral tax from €50

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Ongoing Ownership Costs

Water supply €15-20 /month
Electricity (in condominium) €0,2-0,3 kw/h
Property tax, on the cadastral value 0,4-0,7%

Additional Services Costs

Real Estate Agent’s Fee 1.5%-4% +22%VAT
Legal fees 1-2%

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