€750,000(Furniture / Fixtures included)

Reduced price for a jewel of a hotel in the heart of an elegant hotel area (Ammoopi) on the island of KARPATHOS (between Crete and Rhodes).

It is 150 m from the main beach and on 4,200 sq m prime position property currently valued at 250,000 - 300,000 Euros. New Greek laws necessitate 8,000 sq m for new builds and this hotel can be run as is or, very easily, up-graded.

Situated in an olive grove with a mass of fruit trees and exotic plants around and plenty of room to add pool, tennis court outside and gym, restaurant, shop inside we have always felt this hotel has huge potential. It is already a destination hotel for the current clientele from Italy, Austria, UK and other countries with a steady occupancy of 80 - 90%. All fixtures and fittings are included in the sale and every couple of years there is a healthy olive harvest.

Ammoopi is halfway between the capital port Pigadia, with its brand new marina, and Karpathos International Airport. Tourism is strong, especially from Sweden, Austria and Italy. We have run the hotel since building it in 1999 and it is very easy to run. The net profit is based on 2 full time employees. The hotel has been run, to date, as a family hotel. The spacious balcony outside, where guests enjoy drinks and breakfast, could also become a restaurant area quite easily. In the basement there is space for a family flat and /or gym as well as the usual laundry facilities. All in all, for a 27 bed hotel it is very spacious.

We are retiring and downsizing and offering at the same time our 189sq m villa ( with 2,000 sq m land) which is perched in the mountain area behind and has breathtaking views of the bay. ( asking price Euros 480,00). We would be open to respectable combined offers. Early viewings are encouraged!


Property information

Real Estate:
Real Property Included

Living accommodation:
Room for family flat in basement

Location:
In Karpathos Island, Greece - between Crete and Rhodes and second biggest island in the Dodecanese chain. It is in the south after Ammoopi Hotel area. One of the best on the island. 150 metres from the main beach.

Premises details:
Stand alone hotel of 800 sq.metres in a property of 4,200 sq metres

Size in square feet:
800 + 250 in basement


Business Operation

Competition / Market:
This is a predominantly hotel and restaurant area but the new Greek laws preclude building hotels on land less than 8,000 sq metres so there will be less new builds and more value to this existing hotel.

Reasons for selling:
Purely family reasons ( downsizing).

Trading hours:
Seasonal - 7 days a week from mid May - mid October

Employees:
2 full time

Years established:
Opened in 1999

Other information

Support & training:
Owner will stay in Karpathos and is available for assistance if required.
2014-11-20