This is a unique property in many respects including location, versatility and investment profit return.
Location: It is the only property in the cosmopolitan area of Elounda resort, with so many legal m² of building, exactly on the water’s edge. Even the basement (sea level) has a permit to be used as main living space.
Versatility: The property can be utilised in a number of different ways. It can be renovated as a 6 luxury apartment’s hotel, a 2 luxury villas complex or one Royal villa.
The building already has a hotel licence and if it is renovated as 5 star it can be funded by the European Union with 50% of the total cost (including the purchase price), if done by a Greek or European Union company.
Also the company can rent the beach in front of the property, for exclusive use.
APARTMENT HOTEL OPTION
Six luxury apartments (or 12 suites) can be constructed.
2 VILLA OPTION
One villa with 4 large bedrooms with en-suite bathrooms, kitchen, dinning area, and living room can be constructed on the side road. Total area 336.69 m².
One villa with 3 large bedrooms with en-suite bathrooms, kitchen, dinning area, and living room can be constructed from the other side of the property, with total area of 270.09 m².
1 VILLA OPTION
One unique villa can be constructed with a total area of 606.78 m². It will include 7 large bedrooms with en-suite bathrooms, 2 kitchens, 2 dinning areas, and 2 living rooms plus spa and gym rooms etc.
Currently we have started the process to issue a building-renovation permit for the 2 villas, but this can be changed according to the client’s wishes.
There is also the possibility to buy the company that owns the property, which means faster transaction and lower tax charges.