800 bedroom Hotel for sale with sea view in Locations withheld, Ibiza

205,000,000 EUR 176,300,000 GBP 221,400,000 USD

Reference: 210135

Bedrooms: 800

Features

Balcony
Terrace
Tennis Court
Gym
Hot Tub or Sauna
Renewable Energy
Potential for Income
Sea View
Quiet Area
Parking
Good Condition

Details

Portfolio of Four Hotels in Ibiza offered for sale with vacant possession with in excess of 800 guest bedrooms.

Hotel 1
Modern style 4 star hotel which has been recently renovated located one minutes walk from the beach.
More than 120 rooms and wide range of amenities: buffet restaurant, bar, freshwater pool, Jacuzzi, sauna, gym, special facilities for children: play area with swimming pool, mini golf and a park, free parking.

Hotel 2
Modern 3 star hotel in a very quiet area with over 350 guest rooms and a number of bungalows which are located just five minutes stroll to the beach.
The resort has 2 restaurants, 2 bars, a night club and live entertainment every day, outdoor swimming pool, 3 tennis courts, a gym, a football field and a volleyball-pitch on the beach.
There is also an apartment building and a parking area.

Hotel 3
This quiet 3 star hotel with great sea views is a three minute walk from the beach.
The hotel has 260 rooms with private terraces and a wide range of amenities including a restaurant, bar, lounge, outdoor and indoor swimming pool and a park for children.

Hotel 4 Modern adults-only 3-star hotel with over 70 guest rooms, marble floors and balconies with mountain or pool views.
The hotel has wide range of amenities which include a cafeteria, buffet restaurant, pool- bar, two solariums, one on a quiet terrace and another around the outdoor pool.

Asking price for the portfolio: EUR 205 million with vacant possession

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Balearic Islands Property Buying Guide

1. Putting down a Holding Deposit

On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.

2. Setting up a Pre-agreement (Contrato privado de compraventa)

The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.

3. The Contract (Escritura de compraventa)

Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.