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Business for sale in Los Cristianos, Arona, Spain, 451 m²

Price€2,750,000
TypeBusiness
Covered area451 m²
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Environment

Business

For sale functioning mini-hotel and fitness club located in the heart of the tourist area, 100 meters from Los Cristianos beach. Mini-hotel consists of 10 rooms (7 rooms without a kitchen, 3 rooms with kitchens). In 2018, the mini-hotel was fully renovated and equipped with all the necessary furniture, modern LED Internet, TV, kitchen and household appliances. Solar roof collectors provide the mini-hotel and gym with hot water. Does not require any additional investment. According to statistics from Booking.com, the average occupancy rate is 90%, in high season reaches 100%.
Fitness club: located next to the mini-hotel, 100 meters from Los Cristianos beach. Equipped with modern, exclusive equipment to create an atmosphere of a cozy club. Equipment is under warranty. The club has a sauna, comfortable shower rooms, private lockers, a relaxation area for clients, a bar. Fitness club was built and launched in 2018. Thanks to well thought-out details and individuality, it managed to gain popularity and high appreciation of visitors.

Extra Сosts when Buying Property

WITHOUT MOTGAGE
VAT for new residential properties 10%
VAT for new commercial properties and plots of land 21%
Property Transfer tax for re-sale property 6-10%
Stamp Duty 1%
Notary and Land Registry fees about 2%
WITH MORTGAGE
To the expenses noted above add:
Bank mortgage fee, of the value of the mortgage 1%-1.5%
Mortgage deed tax 1.5%
Land Registry and notary expenses about 2%
Bank valuation of the property from €300
Documents translation from €200
Insurance payments for the first year from €300/год

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Ongoing Ownership Costs

Annual property ownership tax, calculated on the cadastral value 0.5-2%
Non-resident income tax (the base for the applicable tax rate is generally 2% of the cadastral value) 25%
Annual wealth tax 0.2%-2.5%
Rubbish Collection Tax €100-200 p.a.
Community expenses for condominiums and urbanisations from €300 p.a.
Water and electricity rates €100-200 per month

Additional Services Costs

Legal fees about 1%
Estate agency fees 3-5%

Return on Investment

Property Price
Rental Cost
0%
Company Representatives
in Spain
Barcelona, Marbella, Mallorca, Tenerife
+34 (931) 720-189
in UK
London
+44-20-3936-4067
in Russia
Moscow
+7 (495) 240-81-87
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