Hotel in San Remo, Italy, 15 444 m²

Italy. Renovated hotel in Sanremo. This former hotel in Sanremo is one of Liguria's most iconic hotels, combining Belle Époque elegance with a design inspired by the French Riviera. Opened around 1900, it is located on an elevated hillside with sweeping sea views. This "trophy property" is one of the most captivating gems of the Riviera dei Fiori. Technical and structural characteristics: Total area: 15,444 m² (5,360 m² hotel + 10,084 m² holiday apartments). Park: 2,363 m². Garage: An adjacent building of 1,908 m² accommodates 80 parking spaces on two levels, as well as a large basement with garages for approximately 200 spaces (according to renovation plans). Hotel ● A total of 74 rooms: 70 standard + 4 accessible. ● A total of 200 beds, corresponding to the 4-star classification of Liguria. Holiday Apartments ● Historic building: 8,470 m² → 77 apartments ● Tenco Wing: 919 m² → 8 apartments ● Palme Wing: 694 m² → 11 apartments Total apartments: approximately 96 (77 + 8 + 11), although the text states "approximately 90." Parking spaces: approximately 190 (including underground garages). Construction/renovation status: The property is completely renovated; work is almost complete, with only the ground floor remaining unfinished (intentionally left unfinished so the buyer can choose the final finish). Renovation: A lengthy process (8 years), completed in 2022. Meticulous work was carried out on all aspects: foundation, roof, garden, pool, etc. An extension to the underground garage was also built. The result is a "like new" condition, with, as they say, obsessive attention to detail. Corporate Structure / Sale and Purchase Transaction This is not a direct sale of the property, but a transfer of shares in the company that owns the asset. Offer price: €70 million for 100% of the share capital. The company's balance sheet includes a shareholder loan of €20 million, corresponding to approximately 70% of the renovation cost. At closing, the buyer will also be required to repay this €20 million to the seller. Therefore, the total cash required to complete the transaction is €90 million (70 + 20). Historical and contextual notes The building is a historical symbol of Sanremo and has significant architectural value associated with the Belle Époque. It opened in 1900. The "Tenco" wing is particularly important for hosting the Sanremo Music Festival in 1967. In 2013, a dispute between the owners and the municipality over urban development fees was settled, paving the way for reconstruction. The Tenco building has already reopened as holiday apartments with a contemporary design. The building is also included in the FAI's list of national "Places of the Heart" (Luoghi del Cuore). We will sell your apartment or house. We offer a selection of apartments and houses for various budgets, including commercial properties.