• Spain: +34 (931) 720-189
  • Office in UK: +44-20-3769-6417
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Business for sale in San Miguel de Abona, Spain

Price€3,500,000
TypeBusiness
Land area30000 m²
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Environment

Business

A cozy, well maintained aparthotel with land located in a respectable golf area in the south of Tenerife. The hotel consists of 18 apartments, it has an adjacent area with pool and jacuzzi, restaurant, bar, tennis court, parking area and additional housing space. Of the 18 apartments 6 are studios and 12 – one-bedroom apartments. The total area to sell is ​​30.000m2, of which the hotel complex has only 2.500m2. On the remaining 27.500m2 it is possible to build another 5 * hotel, a license is available. Currently this area is rented to a golf club and brings a steady income. The hotel is well filled throughout the year and is quite profitable. Additional space can be used for new touristic services, such as fitness club, game rooms, apartments etc. The terraces of all the apartments have a beautiful view on the golf fields and the ocean. Nearby is a golf club, within walking distance – an equestrian club, shops, bars, restaurants, the seaside promenade and the marina. The local municipality confirmed that money were allocated for the improvement and development of the area. The modernization plan implies building a longer seaside promenade, a well-eqipped beach and the creation of additional services that will make this area more attractive for tourism and investment.
This is a profitable investment with the capacity to expand business and development!

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%
Amina
Offices in Spain
Barcelona, Marbella, Mallorca, Tenerife
+34 (931) 720-189
Office in UK
London
+44-20-3936-4067
Office in Russia
Moscow
+7 (495) 240-81-87
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