First Class Hotel in Veliko Turnovo

Info:
 
PRICE: Offers Invited for quick sale with quick turnaround (REDUCED!!!!WAS 900K Euros!)

HOTEL FOR SALE (with possibility of buying building next door for development opportunity)

INTRODUCTION: (Specific Hotel info below)

It is IMPOSSIBLE to find any type of property in the old part of town in Veliko Turnovo which is a protected zone with it's cobbled streets and old look.

This 3 star hotel is in the best location in the old part of town.

With the highest no.of British Ex-pats living in the area and with the most no.of tourists flocking to see the light show at Tzarevts castle, the hotel stands no more than 50 meters away from the entrance to Tsarevets castle with a high profile.
The hotel is fully run under management by a couple from Finchley - West London and they are happy to stay on should the new owner wish.

People that haven't been to VT (Veliko Tunovo), have a quick read and you will soon realise why this place is the preferred location by tourists from Russia, Japan, Greece, USA, etc etc.

http://www.velikoturnovo.info/setLanguage-1/

Hotel information.-

Hotel Tsarevets is a fully operational, three-star hotel located in the lovely settlement of Veliko Turnovo, popular place for tourist and summer hiking.
The three-floor modern building has a total of 10 rooms divided into 1 luxury apartment, 4 double-rooms and 3 twin rooms .
All accommodation units are well-appointed and supplied with TV, telephone, air-con, mini bar, bathroom, room service and there is a free communal Internet access.

The total built-up area of the hotel is 8250 sq.m,
The adjacent building of 5000 sq.m DOES NOT form part of the sale but is available for purchase by separate negotiation.
The hotel was newly built in 2002 and has been maintained to a very high standard.

Investment Information
The hotel operates all year round and has achieved almost 100% occupancy during the high season (December through April), and approx. 70% occupancy during the low season (May through September).
Working in collaboration with a number of well-established tour operators from Germany, Ireland, the UK and Russia, most of the guests in the hotel come from the UK and Ireland.
Information on revenues and expenses as well as expert evaluation statements are available and will be presented to the potential investors.

DEVELOPMENT OPPORTUNITY - Option to purchase building next door

There is a similar sized building next door ideal for conversion to form a restaurant on the ground floor along with a further 8 more bedrooms above on two floors which will increase revenue especially with a restaurant as it's the most popular request amongst guests.
Quotes have been obtained for this work by a reputable local builder and will be made available to potential investors.
Please also note that we have the option of buying another building further down adjacent to what we own should we wish at market value for an even bigger development.
The return on your investment is very very good and once the restaurant next door with 8 further rooms are complete it becomes even better.

PLEASE NOTE: If this was bought as an investment and run under management you could quite easily let it run and then after 4 years, maybe 5 sell on the open market for a great profit!.

All of our hotel staff are very loyal and speak English very well. We are sure they would be happy to stay on should the new owners require.