Riad-Style Boutique Hotel in Historic Town near Malaga

Malaga East, Malaga, Spain

$1,375,000

Price

$120,000

NOI

740 sqm

Building Size

Overview
NOI
$120,000
Building Size
740 sqm
Lot Area
350 sqm
Keys
9
Star Rating
4
ADR
$105
Average Room Size
18 sqft
Year Built
1800
Management
Unencumbered
Floors
3
Description

Ranked Top 10 Boutique Hotel for sale near Malaga

Built to a riad-style (Moroccan palace with interior garden/patio) honoring its 18th century Moorish palace origins (the hotel is actually registered as a monumental building) this wonderful boutique hotel offers a great lifestyle business opportunity with a dream construction, located in the city’s historical center, 9 rooms for guests, private owners accommodation, fully licensed with great trade and room for improvement.

The hotel has 8 double rooms, 1 family room (2 + 2) and owner’s accommodation spread over 3 floors set around the courtyard, all the rooms have plenty of space and offer sumptuous bathrooms and highly luxurious decoration. The hotel also has a fantastic rooftop swim spa-pool, sunbathing area and bar with views of all the town, its castle & mountains. The hotel has a constructed area of approximately 740m2 with a ground area of 350m2.

While originally built on the 18th century, in 2012 the hotel underwent a complete transformation (refurbishment, renovation, paint & décor) to current day standing which mainly attracts guests interested in exploring Andalusia, going to both the beach and mountains as well as playing golf and enjoying the Mediterranean cuisine. Lately the hotel has become really popular for special events such as business meetings as well as weddings since it’s centrally located in the historic quarter of town (the luxurious option of the 3 available) making it the go to hotel.

As a business its managed in a relaxed manner since while holding full licenses for a restaurant and shop the hotel only offers a continental breakfast, opens for 9 months with a long-time manager taking care of the business for the owners while they spend time back home with family and loved ones.

An important point to make is that the hotel operates as an SL (Limited Liability Company) so the shares are for sale since the company owns everything (the land/plot, building, inventory, website, car and art among other things) which results in reduced tax implications (no property taxes which range typically between 7-9%) although the sale can be asset based, whatever is best for the buyer.

The owner’s accommodations are on the ground floor and has a kitchen, living room with access to a private patio/garden, 2 full bathrooms, master bedroom and a smaller space used as an office, all very secluded and private.

Local attractions include The Caves at Nerja and at Rincon de la Victoria, Picasso Museum, Water Park, Velez-Malaga Gibalfaro castle, Alcazaba Palace, Baños Arabes - arabic baths, Flamenco Dancing, Teatro del Carmen - regional theatre in Velez-Malaga, Guided Cultural Tours of Malaga and Velez-Malaga, Tivoli World amusement park, Dolphin watching, Go-Karting, and Golf with 8 courses nearby.

Further confidential information such as financials, plans, KPIs, etc. will be discussed after an NDA (non-disclosure agreement) has been signed to protect the owner’s confidentiality.

Viewing Arrangements

Interested parties are advised that this is a confidential sale and as such members of staff at the premises may not be aware that the business is on the market. No direct approach to the premises should be made and all viewings should therefore be arranged through the vendor's agents Business Broker Spain.

Business Broker Spain will be happy to assist with flight and accommodation arrangements to facilitate a viewing and bi-lingual staff will be on hand when you arrive.

Highlights
  • Residence and Business
  • Easy management (1 full time employee 2 part-timers but none strictly necessary)
  • Walking distance to church, castle, restaurant, shops
  • Over 180K Euro in Yearly Revenues opening about 40 weeks per year.
Documents
Title
Investment Flyer
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery