4* hotel projects in Cadiz For Sale

Business description

Project ready to start developing consisting on:

1- PROJECT SITE “El Palmar I”
•410 Aparthotel units
•Buildable area 35,105 m2
•Retail Area
•Restaurant
•Sports facilities

2-PROJECT SITE “El Palmar II”
•240 Aparthotel units
•Buildable Area 20,840
•Retail Area
•Restaurant
•Sports facilities

3- 9 hole golf course

El Palmar Beach & Golf
Resorts
- El Palmar I
- El Palmar II

•El Palmar is situated on the Costa de la Luz within the province of Cadiz, and benefits from a
unique and pristine coastline. Less than 2km´s away is the beautiful and historic town of Vejer de
la Frontera and Gouil
•The international airport of Jerez de la Frontera is 36 km´s away, and within convenient reach are
also the international aiports of Malaga, Seville and Gibraltar


•The project is in an excellent location on the long stretch of the famous El Palmar coastline, with direct access to the beach
•Bounding a six million m2 protected area
•The resort includes a 9 hole golf course
• The Initial Concept of the Project by the Owner:
• Construction of approximately 650 one-bed and two-bed apart-hotel units forming
an 2 apart-hotel complexes with Four Star plus hotel communal facilities,
including a 9 hole golf course
• Development divided between two adjacent sites
• The Apart-hotel units to be sold as condominiums to private individuals with
marketing principally to be aimed at overseas market
• The hotel service (reception-restaurants-spa) and commercial facilities to be
separately owned and managed
• Summary indicative financial data is attached
• Plans and scheme prepared
• In planning terms the land is designated for an Apart-hotel Resort and golf development
• Construction and sales period estimated at 24-36 months


•The Initial Concept of Project by the Owner:
•Apartments offered for sale on the following basis:
•The Apartments to be sold as condominiums to private individuals with marketing
principally to be aimed at overseas market and mainland Spain
•Individual Purchaser motivation/attraction
•Acquiring a fully furnished apartment in Four Star hotel development under
prestigious International Brand such as Hilton
•Famous and attractive tourist location in Vejer de la Frontera
•Variable income rising from potentially 4% to circa 6.5% in year 5
•Private use of apartments for 5 weeks of the year with full service free
•Zero costs of management, repairs, property tax, insurance etc
•Potential capital appreciation
•Mortgage available
•Summary financial data about the development of the project, sales and running of the
hotel complex are available


•The Initial Concept of Project by the Owner:
•The developer retains or sales hotel zone, such as receptions, restaurants, spa etc
•The management and exploitation of the apartments granted by the individual
owners to the Hotel operation/owner of hotel zone on long term contract
•The operation ran by professional group under a Hilton or similar franchise
•The Gross Operating Profit shared between the owners as follows (provisional):
•Hotel Zone 37.5%
•Apartments 62.5%
•A projected budget for operating the hotel zones and apartments for a 5 year period
is available


Management of Complex and Hotel Zones:


•The Initial Concept of Project by the Owner:
•The Special Purpose Vehicle company is offered for sale. The sites are held freehold
with the benefit of all existing permissions
•The vendor has substantial experience in the running of hotels and development of
property in Spain. The vendor currently owns and runs other hotels in Spain
•The vendor is offering to participate in the development and the running of hotel
zones
•In respect of the hotel zones, the vendors preference is to ‘buy back’ the hotel zones
and the right of exploitation of the complex. It is proposed this right would be
acquired at the cost of construction apportioned to the Hotel zone parts (calculated
excluding land cost)
•Alternatively, the vendor would consider various different alternative joint venture
arrangements
•Existing loans facilities and bank valuations available with Banco Santander

Property information

Real Estate:

Real Property Included

Lease terms:

Please ask for full dossier and finantial projection.

Location:

Unique location

Other information

Competition / Market:

None in the area

Related documents:

• Document

• Document

Contact the seller