Residential and/or Boutique Hotel Project
Akrotiri, Santorini Island, Greece
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.
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
B) Total number of Plots
Land Plot Size
: 428,21 sq.m.
: 12.035,03 sq.m.
: 2.8M Euro
Sizes of Houses
7 (seven) semi-finished residences (estimated completion cost 400K):
Plot Villa No Type Area Garden
Η Villa Η5 2 Bed detached 82.08 sq.m. 208.57
Θ Villa Θ1 1 Bed detached 53.62 sq.m. 233.61
Θ Villa Θ3 2 Bed detached 53.58 sq.m. 267.00
Θ Villa Θ4 1 Bed detached 53.62 sq.m. 217.50
Θ Villa Θ5 2 Bed detached 78.11 sq.m. 216.15
Θ Villa Θ6 2 Bed detached 53.58 sq.m. 283.21
Θ Villa Θ7 1 Bed detached 53.62 sq.m. 300.33
Total 13 Bedrooms 428 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.
6 (six) plots (without any construction on them):
C 2.006,00 sq. m.
D 2.005,83 sq.m.
E 2.005,72 sq.m.
F 2.005,82 sq.m.
Z 2.005,91 sq.m.
I 2.005,75 sq.m.
Total 6 plots 12.035,03 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
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