Rethymno Aither - €1,750,000

Business property for sale in the Old Town of Rethymno.

Situated in the most central and commercial area of Old Town the property has a huge potential for investment.

It consists of:
Land in size of 492,11sqm

Total area of the building is of 450,84sqm with main use 385,86sqm and auxiliary use: 64,98sqm:

- Basement: Area = 25,37sqm and includes a warehouse with an area of 18,48 sqm and a staircase of 6,89sqm.
- Ground Floor: Area =185,64sqm and includes the former bank
store and offices with an area of 165,86sqm, 2 staircases of 19,78sqm and a balcony area of 19,83sqm.
- First floor (loft): Area =38,22sqm and includes loft space, storage room, W.C
- Second floor (residential): Area = 162,00sqm a former residence with dining room, living room, kitchen, 4 bedrooms, bathroom.

The total building allowance on the plot is 738sqm (1,5%) so, there is still left permission for other 230sqm building.

The building needs renovation but is still in very good condition featuring traditional Venetian architectural elements.
Having an excellent location, the front on two streets, garden, a great size and building allowance left this property is suitable for anything one might think (bank, hotel, meeting/conference place, shops, private school etc.).

The property has presently a full reconstruction documentation to be turn to a luxurious Boutique Hotel of around 1,000sqm (with 46-54 beds approved), with swimming pool on the roof and best solutions to be exploited at its maximum capacity.
By this project there are joining touristic rental business (16-17 rooms providing around 38 beds with an extra sofa beds of approx. 15), café-bar-restaurant (breakfast area, roof garden, coffee place) and spa (sauna, gym, beauty center).

The property it has the ability to apply 3 actions: Boutique hotel, Coffee-cold plate and Woman care operational all year round.

The price includes the reconstruction project.

THE AREA

Rethymno town, the capital of Rethymno, is the center of activities. Strongly influenced by the Venetians, it boasts elegant architecture and a picturesque port.
The town still maintains its old aristocratic appearance, with buildings dating from the 16th century, arched doorways, stone staircases, Byzantine and Hellenic-Roman remains, narrow streets and the Venetian harbor filled with fishing boats and lined with taverns.

Start with a visit to the old town, where you can marvel at the medieval and Venetian architecture, pop into a traditional taverna, and wander cobbled alleyways filled with local shops.
Rethymnon's Venetian harbor, with its Egyptian lighthouse, is also a must-visit. It's one of the most beautiful places you can see in town, and you can combine the scenery with a coffee at one of the seaside cafes just for the atmosphere.

From there, make the short journey to the Fortezza, a 16th-century Venetian fortress that was captured by the Ottomans in 1646. You can't miss it - the Fortezza is visible from nearly every corner of Rethymnon and offers panoramic views of the city and west coast.

If you are in town on a Thursday or Saturday morning, you can check out the open-air market, called the Laiki, while those in town on Wednesday afternoon can visit the farmer's market.