Description
Unique holiday rental apartments for sale in Cala Llonga
Owning an apartment in gorgeous Ibiza while making money on the rental income… It’s what most second home buyers are looking for, however due to government restrictions on Holiday Licenses for apartments this was not possible, UNTIL NOW!
The Olive properties are set into a stunningly cool environment featuring turquoise circular outdoor pools, a poolside chiringuito offering fresh juices, fantastic breakfasts, cocktails and tapas, a wonderfully atmospheric spa with hydro-pool, sauna and relaxation area, plus a state of the art, fully equipped gym, reception, guest lounge and more…
These unique apartment suites present a compelling case for investment, with yields conservatively forecast at 6% to 7% net for 2023 after all costs.
For the period June 1st to end October 2022 (officially Summer season in Ibiza) we averaged 94% occupancy, and for the full year we averaged 67% occupancy which is a truly excellent first full year of hotel operations. For 2023, for each consecutive month we have increased the occupancy and average daily rates significantly, reaching one million euro in booked revenue by May 1st (considering we achieved 1,128,000 euro for the whole of 2022, this is an excellent and significant increase in performance).
We have just 5 beautiful properties for sale at The Olive, priced from 375k euro. Each property comes fully furnished (5 star boutique design hotel standard and beyond) and is delivered totally ready to rent, even down to bedding, towels, robes and slippers. All properties also come with a lockable storage room for owners and a private car park space.
Properties at The Olive are fully managed for rental operations, which includes all marketing, OTA and traditional tour operator relations, bookings, administration and accounting, as well as the delivery of boutique hotel services (check in/ check out, full concierge services, billing, daily cleaning, laundry, in-room spa and beauty treatments etc.) so all you need to do is sit back and relax and collect your income.
Owners at The Olive benefit not only from the rental income from accommodation sales, but also from all of the other revenues coming into the business – so our owners also receive a share of all of the F&B revenue at The Olive – our Chiringuito cafe bar, juice bar, cocktails, in-room dining, spa treatments, events and so on! This represents a significant income boost for our owners over and above traditional buy-to-let opportunities.
Owners can stay in their property at The Olive for up to 2 months per year, with absolutely no blackout dates.
Available properties are:
Chic Terraza 4 – a raised ground stunning apartment with an oversized terrace and beautiful countryside views (70m2) – 385k euro
Deluxe Apartment Suite 10 – a first floor luxury suite with a drinks and cafe terrace and beautiful countryside views (48m2) – 365k euro
Deluxe Apartment Suite 11 – a first floor luxury suite with a drinks and cafe terrace and beautiful countryside views (48m2) – 365k euro
Deluxe Apartment Suite 12 – a first floor luxury suite with a drinks and cafe terrace and beautiful countryside views (48m2) – 365k euro
Deluxe Apartment Suite 14 – a first floor South facing luxury suite with a drinks and cafe terrace (48m2) – 375k euro
The Olive is open every year from early February to December 31st, and any maintenance and repainting is completed during January and the first half of February each year and this is also the time for our team to take a rest before each new Season begins.
Buying Process:
1. 2,000 euro to reserve a property – fully refundable
2. 30 days research and review period – time for a site visit or we can make a video tour, legal due diligence etc.
3. Signing the deposit agreement – 10% payment
4. Signing the deed at the notary – 90% balance payment
Buying Costs:
2.5% AJD tax (stamp duty)
Notary fees – approx 3,500 euro
Legal fees – dependent on your chosen lawyer
Cala Llonga is a very beautiful destination. The beach is very safe for swimming, you can take a boat from the jetty to Formetera, Ibiza Town or Santa Eulalia, plus there are many good restaurants and cafe bars, especially Amante – one of the island’s most fashionable and luxurious beach clubs:
www.amanteibiza.com
In addition, obviously very good to know for investment, Accor Hotels are redeveloping an existing hotel in Cala Llonga, and this property will be in their highest brand category, Mondrian:
https://group.accor.com/en/brands/ennismore-lifestyle-collective/mondrian
Also coming to Cala Llonga opening 2024 is Only You Hotels which is another 5 star boutique small chain of 5 star hip hotels:
www.onlyyouhotels.com/en/
El Chiriguito are redeveloping a prime beachfront restaurant on Cala LLonga Beach- this will be as amazing or if not better than their existing beach club, which is arguably one of the islands original and best:
www.elchiringuitoibiza.com
Putting all this information together, Cala Llonga is easily one of the most promising destination for investment in the Balearics right now.
