Description
1090 square meter building located in the La Paz area, Puerto de la Cruz, Tenerife. This property has operated as a hotel for over 40 years and presents an interesting opportunity for investors looking to develop a project in the hotel and commercial sector.~~The property has 16 spacious rooms, which offer great potential for transformation into a boutique hotel. In addition, it has 5 commercial premises, including a restaurant with a terrace, a bar-cafeteria currently rented and three additional premises at street level. In the basement, there is a versatile space of approximately 300 square meters, ideal for uses such as storage or laundry.~~It is important to note that the building requires a complete renovation in its hotel area, which will allow the new owners to customize and modernize the space according to their needs and vision. The electrical and plumbing installation has been recently renovated, and the elevator was changed 5 years ago, keeping all its maintenance up to date. This lift connects from the ground floor to the roof terrace, where panoramic views can be enjoyed and the possibility of creating an attractive rooftop bar is presented.~~The location in La Paz is another of the strong points of this property. This consolidated tourist area maintains a high demand, with an average annual occupancy of 85%, which exceeds the average for the municipality. The environment offers a perfect combination of tranquility and access to services, making it a preferred destination for tourists looking for quality.~~The hotel market in Puerto de la Cruz is experiencing a significant revitalization, with several projects in development that aim to improve the tourist offer. With an average occupancy of over 80% and competitive room rates, this property is favorably positioned to take advantage of current market trends.~~The combination of its strategic location, the development potential of the rooftop bar and the various sources of income it offers through the rental of commercial premises make this building an attractive investment. Although a renovation is needed to get the hotel area up and running, revenue generated from the commercial premises can start from day one.~~In summary, this building in La Paz represents a valuable opportunity for those interested in participating in the transformation of Puerto de la Cruz's tourism sector. With its potential to become a boutique hotel and its ability to generate immediate revenue through the commercial premises, this property promises to be a solid investment with growth prospects in the future.
