50 dbl bedr. (+30 expand.) hotel near beaches in established tourist area

The hotel qualifies to enter the Greek Goverment Development Program that grants up to 50% of the renovation costs, interest subsidy and tax relief.

This is a forclosure sale and the price has recently been reduced to €800,000.

This hotel of 50 double bedrooms (100 beds) with the option to expand to another 30 rooms (60 beds), as the concrete frames and brick works are already done, is located between two of the best beaches in northern Crete, Voulisma (or Golden Beach) and Ayios Panteleimon (approx 200 meters from either beach).
Also next to the hotel, on the right, the left and the back, are available plots of land to buy at very reasonable prices, giving you the chance to increase the capacity of the hotel by another 60 double rooms (120 beds) of 4-star dimensions and quality.

The hotel is also offered for long-term rent at €3500 per month.
In an area that enjoys 330+ days of sunshine and adjacent to the tourist (old national) road connecting Ierapetra and Siteia to Heraklion airport, the hotel has lots of parking space in front of it and can attract a good number of passer by customers.
There is a pool of 80 square meters with all its machinery, an outside pergola/dining/coffee area, a large reception/play room/ breakfast area and there is also the possibility to easily transform the roof terrace into a nice roof garden with pergola, sun beds, bar, enjoying magnificent views of the surrounding countryside and the sea.
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This is a sound investment as Greek tourism is entering a new era of development and new upcoming markets are showing great interest in visiting our beautiful country and especially the country?s largest island which offers diverse sceneries such as the islands high mountain ranges, popular organized beaches and small ?secret? beaches away from the crowds, large towns and cities, traditional villages, ancient sites and ruins, top quality 5* hotels, gourmet restaurants, local tavernas, a vivid nightlife, peace and tranquility which very few places in the world have to offer.
As for the location, it is only a 7 minute drive from the province capital, the coastal town of Agios Nikolaos Crete, in the seaside village of Istron an area protected by the Greek archaeological authorities due to its many findings of Roman, Greek and Minoan ruins in the immediate area.
This means that although the area is ideal for tourist development there is no possibility of new hotel licenses to be obtained in the area making this investment even more exclusive.
Less than an hours drive from the international airport of Heraklion “Nikos Kazantzakis”

Agios Nikolaos is the capital of the county Lasithi and is located at the Mirabello Bay, north-east Crete, only 45 mins away from the international airport of Heraklion.

Geographically the town is well protected from strong winds allowing sea sports and swimming nearly all year round.

Although Agios Nikolaos has a population of less than 20,000 it has a several banks, supermarkets, shops of every kind, doctors, a modern hospital of high standard, public swimming pool and tennis courts, yacht marina, harbour, cinema, theatre, gyms, a 9-hole golf course, schools ranging from nurseries to 6-level high school and generally all the amenities you would expect to find in a modern European town.

The microclimate is one of the best in Greece and the moderate temperatures rarely exceed 30c in summer or fall below 15c in wintertime. This wonderful dry climate together with the natural beauty of the area has attracted most of the high class hotels of Greece to operate here.