Hotel for Sale in Pomorie, Burgas Province, Bulgaria — 430 m²
Multifunctional Building for Sale in Pomorie, Burgas Province, Bulgaria
A multifunctional building is offered for sale in the centre of the Old Town of Pomorie, Bulgaria, stated to be approximately 70 m from the central beach.
Property Configuration
- ground floor comprising a shop and two garages;
- four residential floors, each stated to accommodate either one large apartment or two smaller apartments;
- storage premises on the top floor.
Utilities and Construction Status
- electricity supply, water supply and sewerage stated to be included;
- external plasterwork, roof tiling and guttering stated to be completed.
Price
The stated price is BGN 686,000, being approximately EUR 350,000.
Development Options Stated by the Seller
The seller identifies three potential uses for the property:
- boutique hotel of 4 to 8 rooms, with a projected return on investment of approximately 12–18% per annum;
- apart-hotel comprising 4 self-contained apartments for short-term letting, stated to require minimal reconstruction, with a projected return on investment of approximately 10–15% per annum;
- residential complex, with the apartments sold individually and income derived from the ground floor, with a projected return on investment of approximately 8–12% per annum.
The above returns are projections stated by the seller and are not verified.
Location and Market Information
The seller states that:
- prices in the area have risen by approximately 25% over three years;
- the season runs from May to October, being approximately six months;
- the property lies approximately 15 km from Burgas and Burgas Airport, Bulgaria;
- the area is associated with therapeutic mud and medical tourism.