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cb129 - ACTIVITIES BUSINESS FOR SALE COMPLETE WITH OWNERS ACCOMMODATION AND 3
STUDIO APARTMENTS. RURAL LOCATION WITH MAGNIFICENT VIEWS
(ideally located as a centre for outdoor activity holidays, cycling, painting, walking, rock climbing)
Price - €400,000
 Location
Location in scenic triangle of Armeni, Rethymno and Agios Andreas
Description
Established in 2005, the business comprises 3 studios for guests, along with an
adjoining house, currently used as personal accommodation by the owners. The
premises would ideally suit a couple perhaps wishing to enjoy semi–retirement
in the Mediterranean sunshine to run a B&B (bed and breakfast), or for those who
wish to run a more energetic, cycling, painting, walking, rock climbing
business.
The Business
This business is located on a one acre (4000 square metre) site and comprise 3 separate
single storey guest studios, each of 40 square metres interior space, with a
linked–detached two-storey residence for the owners of 80 square metres interior
space.
The 3 Studios
All 3 studios have an open plan living/sleeping/kitchen area, with a separate shower/WC.
Kitchens are fitted with electric cooker (with extractor unit), sink,
work surfaces, cupboards and fridge. The sleeping area in each has ample storage
space via built in wardrobes. Each has an air conditioning unit, electric
central heating and an open log fire, along with heated towel rails in the
bathroom that also provide room heating in winter. They are simply furnished
with dining table/chairs, settee or armchairs for two and either a double bed
(one studio) or twin beds (two studios). Included in the sale price, the studios
will be fully furnished and equipped for rental use. Each has tiled
external terraces to north and south, allowing maximum opportunity for enjoying
the Cretan climate.
The 'Owners House'
The two - storey owners’ house has an entrance hall, WC, kitchen, living room
and dining room downstairs. Upstairs there is a double bedroom and bathroom with
bath/shower and WC. The house has air conditioning units in the living room and
bedroom, with electric central heating throughout and an open fire converted to
a cassette type metal stove in the living room.
There are ground floor tiled external terraces on 3 sides and a
tiled balcony terrace off the upper storey patio doors. Underneath is a
substantial basement, accessed by a concrete ramp, which provides a large,
secure storage area and utility room/gym.
The Grounds
 The site is a mixture of cultivated and wild garden, and has ample parking for
both owners and guests. Other external features include two barbecue areas, a
boules court and a fishpond.
The site has mains electricity, with separate (individually metered) supplies to
each studio (single phase) and the house (3 phase). There is a telephone line to
the main house, with internal wiring in place (but not connected) for telephone
lines to each studio. The service to the house presently has ADSL internet
connection.
Services
The site has mains electricity, with separate (individually metered) supplies to
each studio (single phase) and the house (3 phase).
There is a telephone line to the main house, with internal wiring in place (but
not connected) for telephone lines to each studio. The service to the house
presently has ADSL internet connection. Sewage disposal is by means of a soak
away system which is very common in Crete.
Business History
 This business in July 2005 by the current British owners. The properties were
designed and purpose built for their current use, with the design
incorporating all necessary features to comply with “E.O.T.” (tourist authority)
regulations. The owners have developed the business since its foundation,
generating a steady growth in revenue.
Tax & Regulations
The accommodation is licensed by the Greek government’s tourist authority, E.O.T.,
and licences run for periods of 5 years. The existing licence expires in 2011.
The tax regime for small tourist enterprises in rural areas is particularly
favourable. For an annual one off tax payment of approximately. €300, the
business owner escapes any further liability for income tax arising from income
and avoid the need to
 register
and account for VAT on sales. There is also no requirement to maintain business
accounts for tax purposes.
Current Usage
The owners run activities holidays, approximately 90% of which are from the UK.
Due to it's 'niche positioning' within the Cretan activities holidays
market and that there are no other businesses on Crete that the owners are aware of
which also offer this combination of rural accommodation and guided activities.
To help preserve this business the owner are willing to help a new purchaser
'learn the ropes' by mutual agreement.
The owners currently concentrate on the UK market but they believe that by
expending the marketing activities the business can grow further by appealing to
a wider European audience.
Free advertising
On this web site for two years for those people purchasing this business through
Crete Connections
Interested in this business, then email
business@crete-connections.com
quoting the reference
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