Inviting 17 bedroom Hotel for sale in Montignac, Aquitaine

1,470,000 EUR 1,264,200 GBP 1,587,600 USD

Reference: 241477

Bedrooms: 17
Bathrooms: 17
Floor Size: 966 m2
Plot Size: 0.51 hectares / 1.26 acres

Features

Terrace
Possible Extra Dwellings
Potential for Income
Parking
Good Condition

Details

Excellent opportunity to purchase a 14 bedroom hotel with separate 3 bedroom owners accommodation, ideally situated right in the heart of the popular tourist town of Montignac.

With a total built area of 966m2 and set within 5,091m2 of lush manicured gardens with a swimming pool, this charming 14 bedroom hotel/restaurant, with a separate manager's house, offers an excellent opportunity for a lifestyle business.

With an excellent trading history, this superb hotel is being sold as a going concern and currently operates for 7 months of the year, so there is great potential to increase its turnover.

Set out over 4 floors, features include:
Ground floor: professional kitchen, entrance, salon, dining room, reception, store, office and WC's.

First floor: 7 en-suite bedrooms, library and a sitting room.

Second floor: 7 en-suite bedrooms.

Attic: converted into a studio apartment with a sitting room and 2 bedrooms. This can be let as a family suite or used as staff accommodation.

Outside: large terrace offering outside dining capability for 50 covers. A beautiful mature garden surrounding a large freeform swimming pool.

Separate from the hotel, but within the grounds, there is a 3 bedroom stone built house which can be used as owners/managers accommodation or could be used for extra hotel accommodation.

Ideally situated to benefit from the huge amount of tourism that the local attractions bring into the area.

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France Property Buying Guide

1. Signing the Agreement (Compris)

On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner.

The next step, once you are in agreement, is to sign the preliminary contract (Compromis de Vente). This is a legal document and after ten days will be binding on both parties. Rules change frequently in France and it is best to consult with your notary about when this period starts. Generally the compris will be signed in France with the Agent.

Variants can be included in the compris, for example an Acte (clause) can be added if the name or names to go on the title deed have not been finalised. If a mortgage will be required to purchase the property, the details for this, including the name of the mortgage company, must be on the compris.

2. Paying the Deposit

Generally the deposit will be 10% of the agreed purchase price. This will normally be paid to the notaire. There are exceptions to this, if the agent holds a carte professionelle, is bonded and fully registered then you may pay them, but do not hand over the deposit to anyone else. If for some reason the purchase does not go through, for example, if you write to the notaire and the agent that you do not wish to go continue with the purchase before the contract is binding (within seven days of signing the compris), then your deposit would be repaid. This would also apply if a condition had not been met, or the mayor or S.A.F.E.R. (a government agency that has the right of first purchase on most rural property that comes onto the market in France) could oblige the purchaser to give way. If you decide after the seven days 'cooling off' period that you do not wish to complete the purchase and pull out of the sale you would lose your deposit. If however the vendor pulls out of the sale then you will receive your deposit back plus the same amount from the vendor.

3. On Completion

Generally it will take around two or three months to complete the purchase.

During this time the balance of the purchase money must be paid into the account of the notaire, this must be done well ahead of the completion date. The notaire will prepare the documents, check that the deed of sale (Acte de Vente) is in order and have the legal title ready to be signed over. It is possible to have someone sign on your behalf if you give them power of attorney. An interpreter may be of use at this point if your French is not very good and many Notaires will suggest (or insist) that an interpreter is with you.