Hotel for Sale on La Palma
A hotel is for sale on the island of La Palma, in a prime and central yet peaceful location. The property comprises an old section featuring tea woodwork and traditional hip roofs, dating back some 300 years (approx. 350 m²), and a modern building constructed in 2006 (approx. 450 m²), spread over four floors. It is in a perfect state of repair and has been well maintained; the owner continues to improve the facilities. The interior features a modern style with all modern conveniences and plenty of charm. The hotel has very high ratings on online booking platforms and enjoys a significant number of returning guests.
The building comprises a total of 13 accommodation units. All are equipped with en-suite bathrooms, satellite TV and air conditioning; some have a balcony and sea views. There is a reception-lobby-dining area and a patio-terrace as outdoor spaces. Staff have available a kitchen, a laundry room and a workshop.
The hotel is situated in a quiet residential area, yet is very well connected. This means that the island’s attractions, beaches, walking trails, shops and restaurants can be reached quickly and easily.
The operating result makes it a sound investment or a property that can be run very profitably by the owner. The sale price is 2,200,000 euros. The owner is willing to help with financing (deferred payment).
ADDITIONAL COSTS WHEN BUYING A PROPERTY:
Every purchase of real estate causes additional costs to the stated selling price, generally in the range of 10 to 11 %. These expenses are usually the following:
- the land transfer tax: 6.5 % of the purchase price
- the costs of land registration
- the notary fees
- the costs of changing ownership in the cadastre
- the professional fee payable by the buyer to the real estate agency: 3 % (minimum 1,800 Euros, IGIC not included) of the real purchase price
Additional costs and variations to be considered:
- the mortgage costs, in the case of financing the purchase
- If the seller is a promoter, there is no land transfer tax to pay, but 7 % IGIC plus 1 % for documented juridic acts tax, of the purchase price
