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Freehold Apartment Complex Near Benidorm For Sale

Benidorm, Alicante
Asking Price:
€975,000 Furniture / Fixtures included
Sales Revenue:
€51,000
Cash Flow:
€46,000

Alderwood is an exclusive, private, apartment complex located just 5 minutes inland from the beautiful seaside town of Altea, 10km north of Benidorm, occupying two adjacent commercial 800m2 plots situated on an affluent urbanization surrounded by private villas.

Alderwood is a secure, walled, complex consisting of eight apartments and a shared swimming pool and library and was built to the highest standards in 2009, enjoying full occupancy since then. It is currently rented on ‘long lets’ to retired British expats who love the security of a gated complex, the peace and tranquillity of the area, and the proximity of the coast just 5 minutes drive away.

Each apartment sleeps 4 comfortably (or 6 using a sofa bed) and consists of 2 bedrooms and 2 shower rooms, plus a living room, kitchen and private terrace. Fully equipped with all electrical appliances, (washing machine, dish washer, oven, hob and microwave) each apartment also has air conditioning (hot/cold).

The current income from the complex is just over 51,000 euros per annum, with approximately 5000 euros expenses (rates, rubbish collection and landlord insurance) and extra revenue can be made from offering a cleaning or gardening service or general maintenance tasks.

The current business represents approximately 4% return on your money and the capital is secure in the property. Alternatively income could be increased substantially should the new owners prefer to rent the apartments on a holiday let basis for shorter periods.

Alderwood is a ready-made business, with minimum work involved to run it as it is and would prove ideal for someone looking to live their dream under the sun, close to the coast to enjoy more free time.

But it is a FANTASTIC opportunity for someone looking to develop their own holiday apartment business as there is a very realistic and easily achieved growth opportunity to double the income based on current holiday rentals in this area, located so close to Benidorm, a very popular holiday destination.
If you want to live the dream, but don’t want to run a bar, this is a great alternative, and an exciting challenge, depending on how little, or much you want to work.

Property information

Real Estate:

Real Property Included

Living Accommodation:

Anyone of the apartments could be used to live in, alternatively there is also a large private roof storage area which could easily be converted into another apartment.

Location:

Alderwood is located on an affluent urbanization surrounded by private villas located 3km and just 5 minutes drive inland from the beautiful seaside town of Altea, 10km north of Benidorm on the East coast of Spain with spectacular views of the Sierra Bernia mountains and the Mediterranean coastline.

Premises Details:

Alderwood is a secure, walled, private apartment complex occupying 2 adjacent commercial plots of 800m2 each. There are eight 70m2 apartments plus a communal library and a swimming pool. Each apartment has 2 bedrooms with fitted wardrobes, 2 shower or bathrooms, fully fitted and equipped kitchens, living room and terrace. The apartments were built to the highest standards in 2009.

Business Operation

Expansion Potential:

The current income is derived solely from the apartment rentals (on average 575 euros per apartment per month) and could easily be increased offering a cleaning, gardening, or odd job service. But the revenue could be DOUBLED should the new owners prefer to rent the apartments on a holiday let basis for shorter periods.Located so close to Benidorm the area is a popular holiday destination and even more revenue could be made should the new owner offer other services ie. the library could easily be used as a bar/ breakfast room, you could offer beauty treatments, sell theme park tickets etc

Competition / Market:

Alderwood is currently rented on ‘long lets’ to retired British expats and whilst there are bigger establishments offering retirement accommodation in the area all require an initial lump sum payment and then a monthly fee, (which could be an option at Alderwood to increase revenue in the future).

Reasons for selling:

The reason for selling Alderwood is to release the capital so the current owners can enjoy their retirement to the full.

Trading hours:

No applicable

Employees:
There are no employees, the current owners deal with collecting the rent, pool cleaning and any maintenance
Years established:
Alderwood has been established and rented continuously for the past10 years

Other Information

Support & training:

The current owners live nearby and are happy to teach the new owners anything they need to know.

Furniture / Fixtures value:
€25,000 - included in the asking price
Related Documents:
Home based:
This business can be run from home.

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