15 bedroom block of apartments for sale
Greece - Ionian Islands, Corfu, Agios Georgios Pagon
like this property?Call: 03339 395731
Maximum annual profit : 29,7%
Average annual profit(in comparison with the initial investment) : 12,0 %
A past booming business whose owners have retired and are too old to continue to work.
A complex of rooms to let with restaurant, shop area and office space. Positioned in Agios Georgios, Paghi in the North West of Corfu Island.
The land id fenced and is in total 2.052,62 sq.m. It has many fruit trees, decorative plants and paved areas.
The complex consists of two main buildings which are in total 906,95 sq.m. plus covered verandas and store rooms.
A. This is a three story building of 475 sq.m. in total. The ground floor is 237,45 sq.m. which consists of a 237,45 sq.m. restaurant, a kitchen with an extra service space and an indoor and outdoor bar with outdoor sitting space plus a store room.
The first floor is 158,88 sq.m. and consists of 5 apartments in total. Four of them are studios and one is a three room apartment of which the two are bedroom and two bathrooms. Each studio as well as each bedroom of the three room apartment, accommodate 2 persons. Therefore this first floor caters for 12 persons in total.
The second floor is 79,62 sq.m. which consists of four studios who can accommodate two persons each. Therefore this second floor can accommodate 8 persons in total. Here we also have 4 covered verandas.
There is also an extra 38,18 sq.m. storage room adjacent to the three story building.
This building is being sold for 260.000 euro.
B. This is a double story building. The ground floor is 190,50 sq.m. and consists of 4 studios and a two room apartment and they all have use of storage space. The first floor is 240,50 sq.m. and consists of one large shop and one office with kitchenette and toilet plus an extra 98,28 sq.m. covered veranda.
This building is being sold 220.000 euro.
Due to this area’s exceptional beauty and position of the buildings near the sea and in the serenity of the natural environment, it is possible to put this investment into many uses. Thus giving the new owners the opportunity to increase their potential income.
It could ideally be used as a meditation, yoga and alternative therapy center with special vegetarian and health food. The shop area could be converted into an indoor meditation and yoga hall whereas by taking advantage of the large veranda that could be used for outdoor meditation and yoga facilities.
Additionally, to the above, it could also become a center for all kinds of seminars, symposiums and meetings with some changes and equipment to the shop area. Also the studios and apartments would provide accommodation for the participants with either bed and breakfast or all inclusive.
Another interesting idea which could be ideal for these buildings is a Bootcamp. This is a unique exercise and training army program which has become very popular in the past years and has many followers all over the world. Research for this idea has already been made with a website and a You Tube Video.
It could also become a special health and dietary center with relevant gym space, geared for the loss of the excess weight combined with a holiday with sun and sea.
With the relevant modifications, equipment such us (for physiotherapy, gymnastics or for more specialized needs) and of course with the necessary medical and other staff, it could become either a recuperation center for those who have had surgery or a recovery center from certain illnesses or accidents.
An Old Age Home or Penthouse for the elderly ones more, with the relevant modifications, equipment and appliances, could also be an ideal plan for either all year round or part of the year residents.
Classically it can be used for bed and breakfast, restaurant souvenir shop and coffee for bookings rentals or car bikes or whatever else.
As these buildings are located very near to the sea with its golden beach and are also serene olive groves, it is an ideal place for all of the above mentioned business ideas. Furthermore, if you take the wonderful Corfu weather into consideration with its warm summers and relatively mild winters, it is obvious that either an all year business venture or a summer business venture could become a pleasantly profitable one, with the possibility of one of our ideas or even something he haven’t thought of.
The property will need some kind of maintenance, changes, alternations or modernizations as the owners have retired and haven’t done much to the place lately.
These two properties, A+B can be sold separately but it would be ideal for a prospective investor to buy both together as that would multiply their profit by far and also in such a case be much lower price can be accepted thus making the investment even more profitable.
- Corfu (International), 23.4 miles
*Distances are straight line measurements. This feature is currently in beta.