Residential and/or Boutique Hotel Project
Akrotiri, Santorini Island, Greece
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):
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.
Plots
6 (six) plots (without any construction on them):
Land Area
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
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