Activities business for sale in Crete complete with owners accommodation and 3 studio apartments.  Rural location with magnificent views  - €400,000 €300,000

(ideally located as a centre for outdoor activity holidays such as cycling, painting, walking, rock climbing)
Try Before You Buy Option Available (100% refund on rental charged)

The Location

 Location in scenic triangle of Armeni, Rethymno and Agios Andreas

Description

Established in 2005, the business comprises of 3 studio apartments for guests, along with an adjoining house which is currently used as personal accommodation by the owner. This business 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. It also benefits from internet connectivity.

The Business

This business is located on a one acre (4000m2) site and comprise 3 separate single storey guest studio dwellings, each of 40m2, with a linked detached two-storey owners residence of 80m2. The owners currently run activities holidays, for which 90% of the people come from the UK. It holds a ´niche position´ within the Cretan activities holiday market in 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.

The Owners House

The two-storey owners house has an entrance hall, WC, kitchen, living room and dining room. Upstairs there is a double bedroom, balcony and bathroom with bath/shower and WC. Air conditioning units have been fitted in the living room and bedroom, and electric central heating throughout for the winter months. There is an open fire converted to a cassette type metal stove in the living room. Tiles grace terraces on 3 sides. Beneath is a substantial basement accessed by a concrete ramp, which provides a large secure storage area and utility area and gym.

The 3 Guest Studio Apartments

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 Grounds

The site is a mixture of cultivated and wild gardens, 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 and the house. 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 the studios could be services by a WiFi connection if required.

The Business History

This business was setup in July 2005 by the current British owners. The house and studios were specifically designed and built for developing activity type holiday business. 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. The books are available for review by any serious persons wishing to purchase.

Regulatory Requirements

The accommodation is licensed by the Greek governments tourist authority, E.O.T. The permanent licence being re-issued in May 2011, proving that the premises meets all of the legal requirements for the provision of holiday accommodation etc.

Try Before You Buy

The owners would be more than happy to offer a "try before you buy" option. Rent a studio for as long as you wish and, in the event of buying any part of the property, there would be a 100% refund of the rental.

Other Purchase Options

The owner is willing to split the business into several different accommodation schemes as follows:

• House and basement only at €150,000
• 3 studios together at €150,000
• House and one studio together at €200,000
• House and 2 studios together at €250,000
• Any 2 studios together at €100,000*

* Note that the owners would ultimately be prepared to sell a single studio for €50,000, but, because of the notarial/tax expenses involved in drawing up the ´horizontal separation´, it would not be cost effective to sell just one studio as the first transaction in a part sale. Following disposal of any other part(s), remaining studios could be offered individually at €50,000 each.