Hotel for sale in Santa Cruz de Tenerife, Tenerife

Unique opportunity! The property’s total return is above 20%, making it irresistible. Located in the heart of Santa Cruz de Tenerife, this charming historic tourist establishment consists of 22 units. Among its main highlights is its excellent location, just a few meters from the rest of the city’s most important hotels and from the main cultural, commercial, and gastronomic points of interest in the historic city center. Carefully preserved, the property combines traditional architectural character with modern comfort, offering an authentic experience for both domestic and international visitors, with original details such as high ceilings, traditional balconies, and noble materials. Many of the units also feature a kitchen and dining area for added comfort.

Soundproofing of the property’s doors and windows has just been completed, increasing comfort and making these the most comfortable and spacious accommodation units in the entire city. It has 4 rooms that require a full renovation.

It also has a premises with furnishings similar to an old pharmacy cabinet from the 1930s, which is ideal for a reception area, a wine bar, or both; since it is located on a corner, it attracts the attention of tourists and pedestrians, making it an excellent draw for the establishment.

It is currently operated in the vacation rental segment, but it is easily convertible, since it has a valid major works license for a change to tourism operations.

1. It is excellently located, so demand is constant, with an 80% annual occupancy rate. In addition to the appeal of being a protected historic building, it is in the historic city center yet also just a few meters from Plaza de España, the city’s main hub, making it attractive for business trips and tourists.

2. In Santa Cruz, the vast majority of cultural and festive events are centered, including concerts that attract thousands of people and are relatively close to the property, which makes it an ideal place to stay and enjoy them—such as the Santa Cruz Carnival, held for 10 days and reaching peaks of 400,000 people celebrating in the city, making them the most important in the world after those in Rio de Janeiro. This implies an increase equivalent to 20% of annual turnover, simply due to the location.

3. The property has significant present and future revaluation potential. Over the last year, Santa Cruz has been the Spanish city with the highest appreciation. As it is a prime property with lots of natural light and ideally located, its appreciation is above the city average, and it also benefits from the current renovation of the historic district.

In addition, a buildable historic plot of land directly in front of the property can also be sold, where 350 square meters and 14 accommodation units can be built for a reasonable price, increasing the value and profitability of the investment.

This property represents a strategic opportunity for investors looking for a unique asset with an established track record of value growth in a consolidated tourist destination.