Hotel in La Linea de la Concepcion, Spain, 15 000 m²

Spain. Gibraltar. A new hotel with 136 rooms. Project summary: The hotel will be completed by October 2025). It will be a 136-room hotel operating under a franchise agreement. Gibraltar is experiencing a shortage of quality hotel accommodation. However, the hotel supply in Gibraltar is relatively limited, with only 576 rooms in five hotels. The hotel is primarily aimed at business travelers, as it is located close to the airport and the central business district. However, the hotel will also serve Gibraltar's growing tourist market. The land has been purchased and is under lease. After the acquisition, the lease was extended to 150 years from April 2019, and the annual rent for the land is 120 pounds. The reconstruction permit was received in April 2018. The project includes structural changes, vertical expansion to provide additional floors, facade replacement and interior decoration of the former office building on the site to create a new nine-storey hotel. In addition to the 136 bedrooms, the project includes a restaurant and a bar on the ground floor, as well as a rooftop bar. Detailed information about the project, specifications and planning permission are available upon request. The costs incurred to date on the project amount to 16.5 million pounds and include: - land purchase, - lease extension up to 150 years, - professional fees, - legal fees, - planning costs, - demolition and survey support, - interest and financial expenses. These expenses were financed by the project sponsor's own funds (4.1 million pounds) and a credit line (22 million pounds). The cost of completing the project is 10 million pounds, including the remaining construction and finishing work, as well as a professional team. We will sell your apartment or house. There is a choice of apartments and houses in various budgets, including commercial real estate