Sotogrande Marina Rentals Portfolio Bargain
THIS PORTFOLIO HAS NOW BEEN SEPARATED INTO 2 SEPARATE UNITS AND ONE OF THE APARTMENTS IS UNDER OFFER. THE REMAINDER IS AVAILABLE FOR SALE AT 315,000 EUROS
Sale of Sotogrande Marina Rentals Portfolio. Buy a going concern rental business. Reduced for quick sale. Two well placed 2 bed 2 bath properties in Sotogrande Marina. Both have commanding views of Sotogrande Marina and its waterways. Both apartments are in the same building, separated by a stair-well/lift and enjoying a mirror image layout. These are well designed and perfect as permanent residences or second homes. They come with fitted wardrobes and fully fitted kitchens. There is also a possibility of a berth at which to moor your boat and admire it from your large terrace. However, in today’s market what is also offered here is a short to medium term investment. The location and views will always make these properties desirable. This means when the time comes for you to sell, these 2 bed 2 bath units should provide a rewarding return on capital. No-one can ever guarantee the future and buying property is always a form of speculation, but we believe there is a healthy profit if you wait 3 – 7 years. Certainly, a far better return than a bank savings account. Meanwhile, you benefit from a successful holiday rentals business. The current owner needs to liquify some of his assets and is consolidating his portfolio to do so. For this reason the properties are being offered at a greatly reduced price by a motivated seller.
Excellent Rentals Portfolio
It could be that you are thinking to add to your rentals portfolio. The current owner benefits from over 60% occupancy rates and has generated 31,000 euros this year with 33,000 euros projected for end of year from the two properties. The same management team could continue to run the business which would make it all quite painless. The managing agents have many returning clientele amassed over 35 years of business in the area and have worked in partnership with the current owner for about five years. During this time, rentals have risen steadily.
There is also a very good opportunity to rent long term. The principal market here is people working in Gibraltar and you could expect to achieve 900 – 1200 euros a month per apartment in today’s climate.
These 2 apartments are available for sale together, selling at 595,000 €. Make no mistake, properties in Sotogrande have started going up in price again. There has never been a better time since the Crisis to further augment your portfolio or simply buy yourself a quality apartment in a wonderful location and have the second one to provide an income.
The property complex benefits from communal gardens and communal, outside, pool. In addition, each apartment has its own underground parking bay and storage. These storage facilities are lockable and of a sufficient size to store bicycles, garden furniture and the like.
Quality Location with Expansive Views
Views from the terraces are amongst the best in the Marina, situated as they are in Ribera del Pez Luna. South facing expansive views up and down the Waterways – a 180º panorama. This quality location is also ideal for walks along the river or Polo fields – with or without a dog. In fact, everything is within walking distance – from restaurants at Ribera del Marlin or the port, to fantastic beach bars east and west of the apartment and even the padel club is only five minutes away. Supermarkets deliver and orders can be placed online or drive there direct, they are very near. The above reasons help explain the guaranteed repeat clientele who choose to holiday at these apartments year after year. Seldom does an established business like this go onto the market without factoring a premium for the going concern that is also being sold as part of the offer. This business proposition is being handed to you on a silver plate, sold fully furnished.
Below Market Value – Established Holiday Lettings Business
Priced to sell at below market value with established holiday lettings business by motivated seller. Premium free. Phew. Seriously, try and find a similar offer at present in Sotogrande Marina. We don’t think you will. Don’t miss out on this exceptional opportunity. Total Property Fees, inc taxes per year, 7,644 € (2 sets of IBI and 2 sets of community fees, macro and building, plus taxes for owning the properties -Non resident wealth tax).
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