54 Townhouses San Miguel de Salinas, Province of Alicante, Valencian Community, Spain Whole Development £3,558,477 | €3,900,000 | $4,367,220 Request a Currency Exchange Quote Here

An opportunity to purchase 54 townhouses in attractive southern Costa Blanca. The total development cost is €3.9M, with a 6-month timeframe to refurbish & 18-months to sell all units. The total resale is €8.0M.

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Property Description ID:30438076



• Current Mortgage Debt: €5.5M
• Pre-Agreed Debt-Free Price: €3.9M
• Transaction Fees: €315K
• Development Cost: €1.285M
54 townhouses, totalling 5835 m2
• Total Resale Value: €8.0M
3 bed, 3 bath townhouses averaging 108 m2
• Target sales price of €1,350 /m2




• Purchase 54 townhouses for €3.9M EUR, at a discount to the mortgage debt of €5.5M
• Great location close to some of the best golf courses in the Southern Costa Blanca
• Acquisition finance available at 60% LTV on purchase price from a major Spanish lender
• Extremely affordable units in comparison to expensive new build projects on the market
• Resale forecast based on conservative STIMA valuation – Idealista valuation is much higher
• Local resales and project management team in place to enable a hands-off investment




• 6-month timeframe to refurbish & 18-months to sell all units
• 45% cash-on-cash return if financed at 60% loan to purchase cost
• Annualised ROI of 30% and a project IRR forecast at 88%


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