Wanted - Hotel in Marbella

Hi all,

We have an invester client who is looking to buy a medium sized hotel in Marbella, it should have around 60 bedrooms and need of some renovation as he would like to turn it into a Boutique type hotel.

He is looking willing to pay over the odd's for something which will never make him some money, but he is willing to buy a property which, with money spent on it will bring in the rewards. A Bank repo would be good.

Please send details and photo's with prices to sales@damattproperty.com

Cheers

Damatt Property

I think you would probably have more luck contacting the estate agents, i know most of us have properties for rent or sale but not yet met anyone on the forum with a hotel im afraid.

Joan

Hi Joan,

You will be suprised.

I have had 5 replies and three have come up with hotels which may meet our clients brief, we will just have to wait and see. I had already contacted all the agents we work with and they had nothing as most do not specialise in commercial property, they just sell or rent, hence my shout on here.

Thanks for your thoughts.

Dave

Glad to hear that, i know of an agency in marbella which does do some commercial dealings, it is La Concha Living their details are:

La Concha Living
Edificio Tembo, Oficina 31,
Avenida Rotary Internacional S/N, 29600 Puerto Banus
Tel: (+34) 952 766 011 begin_of_the_skype_highlighting              (+34) 952 766 011      end_of_the_skype_highlighting
Fax: (+34) 952 817 698

Good luck!

I know it's none of my goddamned business  but I am really curious - your original post says "willing to pay over the odd's for something which will never make him some money, but he is willing to buy a property which, with money spent on it will bring in the rewards".

If it's not financial, what kind of reward exactly is he hoping for? I'm not trying to be facetious or anything - I just wondered.

Hi Roberto,

Well spotted, a senior moment, it should say not willing to pay over the odds, I will try and edit.

Thanks

Dave

I honestly didn't realise it was a typo - I just thought I was missing something! I thought perhaps I'd got my understanding of the purpose of running a business all wrong - relieved to know I'm not too far off the mark!

Your client needs good financial advice not a cheap commercial property most hotels are going out of business i can name at least 8 to 10 i know of that have gone in the last 12 months ,even the Don Carlos is having revenue problems my advice get him a good Independant Financial Adviser also a new competiton now exists from 2nd home owners they can always undercut hotels and in most cases provide a better holiday experience.

Rod

On the other hand, if he's a contrarian investor, maybe now is the best time to buy, for all the reasons you give?

In my humble opinion it is perhaps an agent looking to gain exposure on the website and the client dosent really exist ,i wouldnt be happy with an agent who could not type a few simple sentences correctly and gets paid by commissions

I just take a very dim view of these salespeople after reading the feedback from so many people on Eye on Spain and getting robbed of 3000 euros several years ago myself which is chicken feed compared to some people i have read about who have lost much much more.

Rod

Hi Rod,

Yes I am involved in the property market as a property finder and openly show that with my signiture. We do not normally cover the Marbella area or commercial property, plus we have no contacts in that area, hence the request on here and the client does exist.

I do object to your comments though, we are not all perfect, I made a mistake, but look at your own writing before you critise others. we can all make mistakes and just because you had an unfortunate dealing some years ago does not mean that everyone in the property selling field is the same as the person or Company you dealt with. If you want to have a go at agents charges, or the fact the you say you were robbed, then start your own thread and get off mine.

Dave

Dave this is a democratic forum if i have a view on something i will post it where i like

The fact is estate agents in spain are mainly crooks in suits its a very popular discussion point and lots of threads seem to end up talking about estate agents eventually

You,ve obviously lost your temper a bit over this matter and if it makes you feel any better i apologise

Ps making a mistake and been lied to are two seperate matters most people who have dealt with agents have been given bad advice and have suffered great losses i could give you a number of examples

And thats my final word on the matter.

Rod

Hi Rod,

I agree it is a democratic forum, but to go on about one small mistkae and the question my motives is just a little out of order, you don't know me, or my business,I don't know you or your business, so until I do I do not question why you psot something unless it is out of order and I do think your comment was out of order, hence my comment back.

You obviously do not like Estate Agents in Spain, that is why you have now posted a new thread, but I can assure you that we are not one of the old Spanish school, we do try and tell the truth as far as we know it. We are not based in Spain, though we work closely with others who we have known for a number of years and have worked with, there are some who we no longer work with as they do not provide the service we are looking for.

So, I accept your appology on this matter. Do you have any information on a hotel for sale in Marbella?

Dave

Hi all,

Just an update. We did find a hotel for our client and they are in the process of getting it finalised legally then starts the work of refurbishing it to a modern hotel to add to the others they have around Europe.

Damatt