The Building, With A Reconstruction Project

Listing ID: 700331310

Listing Title: The Building, With A Reconstruction Project

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Industry: Hotels and Holiday Accommodation

Industry Segment: Hotels

Country: Greece

State / Province:


City: Thessaloniki

Asking Price Range: $2.5M - $5.0M

Gross Revenues: Seller Will Provide

Cash Flow: Seller Will Provide

Cash Flow Type: EBITDA

Year Established: 2018

Number of Employees: 1 - 3

Business Description:
The building, with a reconstruction project for a hotel in the city of Thessaloniki. Building area - 5 623 sq. m. land Area-701 sq.m. 10 floors. 95 rooms. Reconstruction of the existing building with the change of its functional purpose as a 4-star hotel. The concept of reconstruction of the hotel is based on the following factors: Location: the object is within walking distance from the seaport of Thessaloniki, the city promenade and Aristotelous square, the main places of visit of the guests of the city and local residents; Location: the distance to the airport of Macedonia-16 kilometers; distance to the bus station KTEL-1.7 kilometers; distance to the railway station-1.5 kilometers; distance to the seaport-1.6 kilometers; distance to the exhibition HELEXPO 4 kilometers. The city has a town-planning concept of development of this territory-the transformation of the area into a restaurant and walking area. There is an insufficient number of 4-star hotel rooms. However, given that the city of Thessaloniki is the second most important city in Greece, cultural and industrial center, the flow of visitors is constantly increasing. Most of the hotels available in the city do not meet the modern requirements of tourist accommodation. Thessaloniki is the second largest city in Greece with a population, together with suburban areas, of more than 1,000,000 people. In Thessaloniki are: Aristotle University-the largest University in the Balkans, Macedonia airport and a major seaport, in its economic importance is second after Piraeus. In 2016, UNESCO included Thessaloniki in the list of the most attractive cities in the world. The object is located 450 meters from the sea and 16 kilometers from the airport. The cost of the building - 2 500 000 euros. There is a project of reconstruction of the building under the hotel 4 stars. With its implementation, the payback period will be 8 years, the rate of return on investment - 15 %. Part of the costs of acquisition, design, constr

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