Gibraltar
Apartment building
A great offer for investors!
The building is under reconstruction in the most prestigious and expensive place in Gibraltar - on the pedestrian shopping street Main Street.
The land under the building is fully owned.
Currently, the building is empty, 5 levels.
The living area of the building is 494 m2 + a terrace of 115m2
The first floor of 122 m2 is commercial, there is already a tenant - the world-famous luxury brand retail chain. The tenant has signed a lease agreement, pays the rent and makes repairs himself, because by the Christmas holidays he is going to open and make sales.
Second floor 130 m2
Third floor 130 m2
Fourth floor 112 m2
Roof terrace 115 m2
Reconstruction is needed.
Reconstruction is provided in two versions:
1. without changing the height of the building
(investment in the amount of £ 1,000,000, the duration of the work is 6 months)
2. adding 2-3 floors (there is a permit, an investment of £ 1,500,000, the completion period is 14 months)
After the reconstruction, the price of the building will be at least £ 12,000,000 (without the superstructure of the floors)
Apartments and commercial premises in this place are very much in demand for rent.
The investor can rent and receive an income of approximately 10% per annum net or sell and earn a profit, depending on the chosen reconstruction option.
The price of a building with land: 5 500 000£ ( ≈ 6 380 000€)
The investor and his family, if desired, receive a residence permit in Gibraltar, which allows them to live and move around the EU countries, the Schengen zone, in the UK and the countries of the European Free Trade Association (Norway, Switzerland, Iceland, Liechtenstein) without restrictions
