Income Potential Hotel for sale in Siracuse, Sicily

2,000,000 EUR 1,720,000 GBP 2,160,000 USD

Reference: 245724

Floor Size: 1,100 m2
Plot Size: 3.5 hectares / 8.65 acres

Features

Potential for Income
Parking
May Require Improvement
Balcony
Garden
Build Pool
Possible Extra Dwellings

Details

A unique investment opportunity with this impressive estate located in a privileged position in Syracuse.

This represents an unprecedented deal in the real estate sector.
Strategically positioned next to the waterpark and in front of the well known Auchan shopping centre, the property comes with unbeatable visibility and access.
The structure, built at the end of 2010 with the intention of becoming a prestigious business hotel, extends over a vast plot of approximately 35,000 m2.

Divided into two levels, ground floor and first floor, it has a unique layout with four bodies that form an elegant rectangle, with a large garden in the centre, a distinctive element that adds a touch of luxury and tranquility.
With a total area of approximately 11,000 m2, the structure was imagined according to the original project, divided into suite rooms with spacious private bathrooms and terraces, smaller apartments with private terraces, large halls, professional kitchens and catering spaces.
Everything has been impeccably designed and structured to be operational right from the start.

This exceptional real estate investment opportunity is even more attractive considering the price, significantly below the original cost of the entire structure building project. Such a good deal is rare in today's property market and offers a significant potential return on investment.

The flexible use of this structure makes it ideal both to be used as a prestigious accommodation facility, taking advantage of its key position, and to be transformed into an RSA (Health Care Residence) or a Private Clinic.
The versatility of this property allows buyers to capitalise on the multiple opportunities present in the tourism, healthcare and hotel sectors.

In summary, this real estate transaction represents a unique combination of strategic location, well-designed structure and a highly affordable price, positioning itself as an unmatched investment opportunity in the current market.

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Italy Property Buying Guide

1. Making the Offer to Purchase (Offerta)

Once you have found the property you wish to purchase you will start the process by making a formal offer to the vendor, the estate agent will act on your behalf and put forward the offer, a deposit will be made available, generally around (10,000 - 20,000 EUR). Once the vendor has accepted the offer it will be formalised in writing to the vendor in both English and Italian. If this is accepted the deposit (Caparra Confirmatoria) will be paid to the vendor. This will form a legally binding contract. Neither party may withdraw at this point, the sale can be forced by either party or a claim for damages can be made. If the purchaser withdraws their deposit will be lost, if the vendor withdraws the purchaser can claim twice the deposit in compensation.

2. Signing the Preliminary Contract (Compromesso or Contratto preliminare)

The next step will take place between 1 and 3 months after the offer has been accepted, this is a formal agreement between the vendor and purchaser to sell and buy the property, this agreement is the Preliminary Contract and will contain the conditions and terms of the sale. It is important at this stage that you have a full understanding of all the details contained in the contract. We would strongly recommend that you appoint a Notary who is fluent in English. This document will include the purchase price, a detailed description of the property including completion date and will cover any obligations placed upon the buyer and the vendor. All information relating to the property including any planning permissions for the property and the cadastral details (a public record, survey, or map of the value, extent, and ownership of land as a basis of taxation). Once the Preliminary Contract (Contratto preliminare) has been signed a further deposit (Caparra Confirmatoria) will be paid, this will generally be 10% - 20% of the purchase price. There will also be an estate agents Commission Fee (Provvigione) which will need to be paid at this point.

3. Signing the Final Deed of Sale (Rogito or Atto Notarile)

The purchaser must have a bank account in order to make the purchase on completion. The signing of the final deed of sale which will authorise the transfer of the property must be overseen by a Notary (Notaio). The buyer will select and hire the Notary, but they are members of an independent body of public/professionals who will draft the purchase deed, they will oversee the passing of the title legally from the vendor to the purchaser. The Notary will also verify the legality of the documentation and registration with the Conservatoria dei Registri Immobiliari and the Local Land Register.

4. Formalities to be observed after Completion

Foreign buyers should obtain a certified copy of the Purchase Deed (Rogito), which the Notary will have lodged with the authorities. Generally this will be available to collect around 2 – 3 weeks after completion. The Notary will also give you a form to complete for the the local authority (Questura) who will have been given formal notice of the purchase. Your Notary will help you to complete this form. You will need to contact the utilities companies to set up new contracts (power, water, telephone, gas etc.). If the property is a flat, the condominium manager (Amministratore del condominio) should be informed of change of ownership of the property.

IMPORTANT - Disclaimer : All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.