A 1.800 sqm recently renovated building is for sale in the heart of the center of Thessaloniki, very close to (under construction) metro subway. Part of the building (basement, ground floor, mezzanine and 1st floor : total area 670) is rented for 10,000 euros / month by a large banking group with a long-term contract.
The rest of the building, of 1.100 m² is rented for the same amount (€ 10,000 / month), to a 4-star hotel, which can be converted into a 5-star hotel, since it has the right perspectives.
The hotel operates with 80% occupancy per year, resulting in a very high annual yield. Floors are distributed as follows:
– basement: boiler room and warehouses
– ground floor: reception and minibar
– 1st floor: 5 large suites
– 2nd floor: 6 large suites
– 3rd floor: 5 large suites
– 4th floor: 4 large suites
– 5th floor: 4 large suites (under construction) or a roof garden
The property is for sale either as an investment project as it is, and, counting annual rent increases, it can depreciate in 20-25 years.
However, the operation of the hotel by the prospective purchaser can make it even more efficient with a 15-20 year depreciation and a return of more than 5.5%.
The price of the property can be paid in long installments.
The above information is based exclusively on information provided by the property owner to our company, which are subject to any typographical errors or price change by him.
PURSUANT TO LAW 4072/2012, IN ORDER TO VIEW THE PROPERTY, IT IS NECESSARY TO PROVIDE YOUR ID AND TAX NUMBER WHICH MUST ME INDICATED IN THE DEMONSTRATION AGREEMENT.
The indication on the map does not indicate the exact location of the property but the general area in which it is located. For any other information contact us.
