Hotel for Sale in Gratska Mahala, Varna, Bulgaria — 450 m²
Family Hotel for Sale in the Gratska Mahala District, Varna, Bulgaria
A property holding the status of a family hotel is offered for sale in the area of the railway station and the Gratska Mahala district of Varna, Bulgaria. The total built-up area is approximately 450 sq. m.
Property Configuration
The property comprises a building of three floors together with a semi-basement level, arranged as follows:
- Semi-basement level: storage area of approximately 100 sq. m;
- First floor: two separate premises operating as catering establishments, each of approximately 75 sq. m with an independent entrance, each consisting of three rooms and two bathrooms with WC;
- Second floor: accessed by a separate entrance, comprising one three-room apartment and one studio;
- Third floor: a further 3 studios, each with individual bathroom and WC.
Condition and Letting
Major refurbishment works are being carried out on the first-floor apartments, which are stated to be delivered fully completed and furnished. The properties on the second and third floors are furnished and equipped and are stated to be successfully let with a reported good yield.
Legal and Development Status
- the building is stated to be a listed cultural monument, constructed in 1921, with a restored façade;
- a design is stated to exist for the addition of two further floors in height;
- provision is stated to have been made for the installation of a lift.
Location
The property is situated in proximity to the railway station, the sea passenger terminal, the naval headquarters, the Gratska Mahala district, bus stops, shops and banks.
Potential Uses
The property is stated to be suitable for use as an office building, a banking institution, art studios, or for conversion to residential use as separate apartments.