Residential and/or Boutique Hotel Project​

Akrotiri, Santorini Island, Greece

Semi-finished Residences
Semi-finished Residences – Location

Description

Our client has under his ownership 7 detached semi finished houses with a total size of 428,21 sq.m. and directly next to them 6 plots of land with a total size of 12.035,83 sq.m. The project is located at the local community of Akrotiri of the Municipality of Thira, Santorini Island.

Key Characteristics

Use

Location

Deeds

Max Building Size Res.

Max Building Hotel

: Residential – Hotel

: Santorini Island

: YES – Upon Request – LOI

: 2400 sq.m.

: 4800 sq.m.

 A) Semi finished Villas

       Total Buildings Size

       Asking Price

B)  Total number of Plots

       Land Plot Size

       Asking Price

: 7

: 428,21 sq.m.

: 1.0M

:  6

12.035,03 sq.m.

:  2.8M Euro

Sizes of Houses

7 (seven) semi-finished residences (estimated completion cost 400K):

PlotVilla NoTypeAreaGarden
ΗVilla Η52 Bed detached82.08 sq.m.208.57
ΘVilla Θ11 Bed detached53.62 sq.m.233.61
ΘVilla Θ32 Bed detached53.58 sq.m.267.00
ΘVilla Θ41 Bed detached53.62 sq.m.217.50
ΘVilla Θ52 Bed detached78.11 sq.m.216.15
ΘVilla Θ62 Bed detached53.58 sq.m.283.21
ΘVilla Θ71 Bed detached53.62 sq.m.300.33

Total13 Bedrooms428 sq.m.

  • All villas are full detached and with their own private garden
  • Ability for private pool on each residence (subject of permition from local authorities for pools over 10 sq.m.
  • All residences have views towards Oia, Fira, Pirgos, Vlichada and the Cretan Sea
  • Estimated completion cost – 400K*

Asking Price: 1.000.000 Euro

*Developer can deliver the project/residences finished at specific standards at an extra cost of 400K.

Plots

6 (six) plots (without any construction on them):

LandArea
C2.006,00 sq. m.
D2.005,83 sq.m.
E2.005,72 sq.m.
F2.005,82 sq.m.
Z​​2.005,91 sq.m.
I​​2.005,75 sq.m.

Total6 plots12.035,03 sq.m.

  • Residential Use: In each of the above plots can be built villas for sale or short term rental with a total size of 400 sq.m. 2.400 sq.m. in total.
  • Hotel Use: In case of a change of use in a hotel, the building is doubled to 800 sq.m. in each plot and at 4.800 sq.m. total on the six plots.
  • All plots have access to a municipal road.

Asking Price: 2.800.000 Euro

Floor Plan H5 – 2 Bedroom – 82,08 sq.m.

Investment Options

Both houses and plots are both under the ownership of a S.A. company as its only assets.

  • Option 1: Investor purchase both the semi finished residences and the plots and the transaction is made through transfer of shares (sale of company) – Can be achieved reduced transaction costs and taxation.
  • Option 2: Investor can purchase A or B separately as properties
Residential and/or Boutique Hotel Project

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