Cala Llonga – The Olive

From € 350.000
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Property Id : 31592
Price: From € 350.000
Living area: 49 m2
Land area: 49 m2
Bedrooms: 1
Bathrooms: 1
Pool: Yes
Other Features
(Roof)Terrace
Air Conditioning
Bed Linen
Close to the Beach
Community Swimming Pool
Final Cleaning
Garden
Mountain Views
Rental License

Description

Unique penthouses and apartment suites present a compelling case for investment, with yields conservatively forecast at 7% net after all costs, plus the backdrop of total property and hotel-style rental management.

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 discerning 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 rental income.

Investors can also stay in their property at The Olive for up to 2 months per year, totally free of charge, with absolutely no blackout dates, and/or use their allocation for family and friends at their discretion.

Available properties are:

  • Chic Terraza 4 – a beautifully designed corner property on the raised ground floor, very private and with an oversized terraced and gorgeous country views – 360k euros
  • Deluxe Suite 9 – a gorgeous corner property with beautiful country views and a drinks terrace – 350k euro
  • Penthouse 20 – a superb and luxurious property with beautiful country views from the drinks terrace, plus a sumptuous 50m2 private roof terrace enjoying 360 degree campo and golf course views – 415k euro

The Olive is now completed and will open in June (2021!). The website is live and we are taking bookings directly and via various OTAs including booking.com and airbnb. Already Summer 2021 and beyond is getting very busy with bookings, which should translate into very healthy yields for our investors.

If you are familiar with Ibizan hotel and property rental rates you will see that these nightly rates that we have forecast are extremely conservative. Particularly during the Summer months we expect to well exceed these rates.

Buying Process:

  1. 2,000 euro to reserve a property – this is fully refundable in any event – even if you simply change your mind!
  2. 30 days research and review period – time for a site visit, legal due diligence etc.
  3. Signing the official deposit agreement – 20% payment
  4. Signing the deed at the notary – 80% balance payment

Buying Costs:

  • 2.5% AJD tax
  • Notary fees (approx 3,000 euro)

Summary of a Property Investment at The Olive:

The Olive is comprised of just 28, beautifully designed and appointment apartments set into a luxe hotel environment
On site there are 2 receptions, a spa and fully equipped gym, outdoor pools and a poolside chiringuito. The Olive will operate as a luxury hotel but with each owner taking the rental income for his particular property. Rental income is conservatively forecast at 7% net per year (after costs). Each apartment is sold on a freehold basis and the price includes a ready-to-rent interior designed furniture package, parking space etc. We have set up an in-house company to manage the property and the delivery of guest services
We have set up an in-house company to manage the bookings and commercial administration of the bookings. There is no sharing or pooling of income with other investors in the project. Each investor draws income from his own particular property – so if you are not using your property at all for your own stays, you will the derive maximum rental income available. Each property is wholly owned by each investor. Investors can sell their property at any time and for any price without requiring any permissions from the management company – the same as for any freehold property – the owner controls the asset. The in-house management companies set up are contracted by the owners collectively. If the owners collectively are not satisfied with any element of performance they can vote to review the contract and in the extreme they could vote to cancel the contracts and re-appoint. Rental income is paid to each investor 2 times per year in July (for months Jan to Jun) and January (for months July to Dec).

Properties at The Olive represent a totally armchair investment with our in-house companies set up to manage the physical property, the bookings, the delivery of guest services and even the accounting and filing for our investors (should they wish).

 

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Jeroen Roodenburg

Co-founder Ibiza Diferente

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    Jeroen Roodenburg