54 Townhouses San Miguel de Salinas, Province of Alicante, Valencian Community, Spain Whole Development £3,413,202 | €3,900,000 | $4,306,770 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 Attributes

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Golf, Development

Fixtures-Fittings-Furnishings

Bath

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Management
Property Description ID:30438076

PROJECT SUMMARY

 

• 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

 

INVESTMENT HIGHLIGHTS

 

• 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

 

PROFITABILITY FORECAST

 

• 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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Important Property Information

Available Units

Whole Development
  • GBP Price: £3,413,202
  • EUR Price: €3,900,000
  • USD Price: $4,306,770

Key Selling Points

  • 54 townhouses for €3.9M EUR
  • 3 bed & 3 bath townhouses
  • Close to some of the best golf courses in Southern Costa Blanca
  • Finance available at 60% LTV
  • 45% cash-on-cash return if financed at 60% loan to purchase cost
  • Annualised ROI of 30% and a project IRR forecast at 88%
Mortgage Information
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