Package of 18 apartments in Benidorm, Spain

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Package of 18 apartments in Benidorm, Spain

4,500,000 €
2,250 € /m²
£3,848,000
£1,924 /m²
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  • Total area
    2,000 m²
  • Yield
    4.4%
  • Rental rate (m²/month)
    8 €
Details
Property parameters
  • Leasable area: 2,000 m²
  • Land area: 1,000 m²
  • Total premises: 18
Financial performance
  • Annual income: 200,000 €
Tenants
  • Fully let
  • End of lease: 2027
Transaction costs
  • Broker: 3.0%

Description

Package of 18 apartments in Benidorm.

Building area — 2,000 m².

Plot area — 1,000 m².

The area of the apartments varies from 66 to 75 m². Each flat is furnished and includes 2 bedrooms, a living room, a kitchen, a sea view terrace. Equipment: air conditioning and alarm.

The building features an elevator, a reception area, a restaurant of 400 m² and 700 m² for 300 seats with an outdoor terrace, a parking.

Financial performance

Annual income — 200,000 euro.

Tenants

The building and the restaurant are leased until 2027 with a possibility of prolongation and an increase in income by 15–20%.

Transaction costs

Commission — 3%.

Location and nearby infrastructure

The building is located in Benidorm, on the first sea line, near La Cala Beach.

The Valencian Community is an autonomous community of Spain. It is the fourth most populous autonomous community. It is located along the Mediterranean coast on the east side of the Iberian peninsula. The population is about 5 million people.

In addition to tourism, the Valencian Country has significant exports, and it ranks second in this respect among the Spanish autonomous communities, constituting 12% of the national total.

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