A unique bargain: This 354 sqm Building in the first line to the sea inlcudes a fully equipped restaurant + 3 flats + large roof terrace, in first line to the sea, in the capital city of Fuerteventura. Great opportunity for investors and all those wanting to live in the South:
- Three flats with a total of 236 sqm
- A large 118 sqm roof terrace with breathtaking sea views
- A fully fitted restaurant with 118 sqm and a 45m2 terrace overlooking the sea.
The fully equipped restaurant comes with the legal opening authorization, a fully equipped modern kitchen and a large bar, dining room, storage room, two toilets, a large terrace facing the sea, as well as the approval for a second terrace on the streetside.
This is not a mere business transfer " traspaso ", here you purchase the freehold property and the fully furnished and equipped restaurant, as seen on the pictures.
This is a genuine distress sale, because the heirs have to sell the whole building to pay the inheritance tax.
The building is located in the capital of Fuerteventura, Puerto del Rosario, next to the port, in the first line by the sea. The entrance through the large marine terrace is located directly on the fortified coastline, bordering the future promenade " Paseo Marítimo " Now also a artificial beach just 30m from the building has been approved by the government. The main entrance from the street is located on a very wide sidewalk on the extension of the Avenida Maritima, the Calle Almirante Lallermand, having the port authority, social security and the officers' mess to the south and the art hall with convention center Juan Ismael, the well known Sports Club Herbania and the famous restaurant Cangrejo Colorao to the north.
The new promenade of the waterfront is already planned, has been approved shortly and will be built in the next few years, once the State budget provides the necessary funds for it. Please find the official plans in the appendix. Recently a new sandy beach has been approved by the authorities and will be built soon.
The restaurant was open to the public until recently but still has all permits and can be re-opened or rented out at any time. The last tenant had to go into early retirement for health reasons and as the owner wants to sell, the restaurant was no longer rented out. One of the three flats above the restaurant is currently rented, but the tenants will move out inmediatly, once the building has been sold. The other flats have been rented until recently, but need to be renovated before new letting.
The building was built in 1975 in the heart of the capital, Puerto del Rosario, on the seafront, which is why the facade should be renovated, which is supported by the municipality with aid programs. The building structure is very solid, the reinforced concrete slabs are cantilevered which allows many design options. The whole electric installation has been completely redone 2 years ago. The flats are all tiled with large terrazzo (solid stone) tiles, as well as is the staircase. In one flat the old doors have been dismounted to incorporate new ones. This is a building from 1975, which has been renovated partly but you might still have to refurbish the flats to become a european standard.
The modern restaurant kitchen has recently been installed and approved and the whole restaurante is sold fully furnished and functional, like you can see on the images.
Also, all stainless appliances, oven, plancha, fryers, coolers, freezers, hood, sinks, large TV, tables and chairs, etc. Do come with this offer.
You can take over the restaurant immediately and move into the flats, but of course you can also change the interior distribution and refurbish everything.
For example, the 118m2 restaurant could be splitted into a shop or business to the street side and into a Cafe or Pub with a large terrace facing the sea. The two floors above could be distributed into two, three or four flats with a total of 236 sqm, and the spectacular 118 sqm roof terrace could be used as a chill out lounge, night club, or just privatly, to enjoy the great sea views.
The entire building has been built in 1975 with an architect and building permit, on a plot, properly registered in the Land Registry Office.
Just before the purchase at the notary, the seller will make the notarial declaration of the new building according to the interior distribution you decide. This gives you the advantage, that the declared division of the building can be done according to your wishes.
Please refer to the measures on the current plans published here. Regarding the restaurant the inner allocation is not yet marked on the plans. As the staircase to the first floor has been designed differently, there has been created an additional bedroom on the upper floor, which is not represented on the plan.
This is a unique bargain, as plots in the capital in the first coastline are usually more expensive even without a building on them.
We live and work on Fuerteventura for over 30 years now, are licensed real estate experts " Experto Inmobiliario 2064 ", and can offer you the total purchasing process in Spain.
This offer includes the whole building with about 354 sqm, registered in the Land Registry, consisting in:
- 118 sqm restaurant + 45sqm terrace outside the restaurant on the seaside, fully furnished and with commercial approval
- 236sqm distributed on two floors and actually three flats
- 118 sqm roof terrace with a room on it.