Hotel for Sale

Investment Opportunity – Hotel in Heraklion Crete Rare hospitality property built in 1980, fully legalized for hotel use, offering strong redevelopment potential in one of Crete’s most dynamic tourist areas. The property enjoys a privileged location, just 80m from the sea, and in close proximity to major upcoming developments such as the redevelopment of the former US Air Base (“Little Elliniko”) and the new Casino, with direct access to the VOAK highway and only minutes from Heraklion International Airport and the city center. Current Property Specifications • Total surface: 650 sqm on 3 levels o Ground floor: 197 sqm o First floor: 197 sqm o Elevated basement: 245 sqm (suitable for kitchen, spa, or auxiliary facilities) • Existing capacity: 13 rooms • Fully legalized as hotel use Development Plan With an estimated renovation/construction budget of approximately €900,000, the property can be developed under two alternative scenarios: • Conversion into a boutique hotel of 12 luxury suites, with modern design and high-standard amenities • Development of 4 luxury maisonette-style villas, each 165 sqm with private pool Its proximity to the sea, large-scale infrastructure projects, and eligibility for subsidies (Greek Development Law, Recovery Fund) significantly enhance the property’s investment outlook.