Hotel for rent in Santa Cruz de Tenerife, Tenerife

A unique opportunity given its high return. Located in the heart of Santa Cruz de Tenerife, this charming historic tourist establishment comprises 16 units and a historic building in need of complete refurbishment, where a further 14 units can be built across 350 square metres. Its main attractions include its excellent location, just metres from the city’s other leading hotels and from the main cultural, commercial and dining attractions in the heart of the old town. Carefully maintained, the property combines traditional architectural character with modern comfort, offering an authentic experience for both domestic and international visitors, with original features such as high ceilings, traditional balconies and high-quality materials. Many of the units also have a kitchen and dining area for added comfort.

Soundproofing of the property’s doors and windows has just been completed, enhancing comfort and making these the most comfortable and spacious accommodation units in the city. Four rooms require complete renovation.

The property includes a commercial space with a cabinet resembling one from a 1930s pharmacy, ideal for a reception area, wine bar or both. Its corner location attracts the attention of tourists and passers-by, making it an excellent showcase for the establishment.

It currently operates in the holiday-home sector and is highly profitable, but can easily be converted, as it has a valid major works permit to change to tourist accommodation use.

1. It is exceptionally well located, ensuring consistent demand and an annual occupancy rate of 80%. In addition to the charm of being a protected historic building, it is in the heart of the old town and just metres from Plaza de España, the city’s central hub, making it attractive to business travellers and tourists alike.

2. The vast majority of Santa Cruz’s cultural and festive events take place here, including concerts that draw thousands of people and are held relatively close to the property. This makes it an ideal place to stay and enjoy them, such as the Santa Cruz Carnival, which runs for 10 days and attracts peak crowds of 400,000 people celebrating in the city, making it the world’s biggest carnival after Rio de Janeiro’s. This means an increase equivalent to 20% of annual revenue simply due to the location.

3. The property offers significant potential for appreciation, both now and in the future. Over the past year, Santa Cruz has been the Spanish city with the greatest increase in property values. As a prime property with abundant natural light and an ideal location, its appreciation potential exceeds the city average, and it also benefits from the ongoing regeneration of the old town.

It is also for sale for 6,200,000 euros.

This property represents a strategic opportunity for investors seeking a distinctive asset with potential for value growth in an established tourist destination.