New Land

Providing New Land for Sale by Owner in Biosphere Reserve with License to Build a Hotel or Aparthotel.

Owner sells new plot of land of 49, 700 sqm, (12, 08 acres), with new license and planning permission to build a Aparthotel of 500 beds. The plot is located in La Palma Island, (a Biosphere Reserve), Canary Islands, Spain, with wonderful panoramic views over the ocean and is free of any debts or mortgage.

The owner will consider entering in a joint venture with investor to develop this new plot of land. The expected return on investment and projected profit, ROI, is over €13.3 million in less than 3 years before taxes, as the business analysis indicates. The approval and authorization of public administrations required for project implementation to proceed in this plot of land is already in place; therefore construction can start immediately. This plot of land is sold with building license and permits in place.

Key Advantages of this new plot of land:

• There is a shortage of hotel and apart hotel accommodation in the island, currently 12, 000 beds, to meet potential tourist demand, as indicated in the “Special Territorial Plan of Management of Tourist Activity of the Island of La Palma”, (Special Territorial Plan for the Regulation of the Tourist Activities in La Palma Island).

• This new plot of land will get a subsidy or grant for the Canary Islands Government through the FEDER Fund to encourage foreign investment in the islands. This subsidy would be between 10%-15% of all the construction costs of the development and will be paid at the completion of the hotel or aparthotel. This grant would represent between €1.8 – €2.3 million for the investor.