Hotel for sale in Santa Cruz de Tenerife, Tenerife

Unique opportunity! The property’s total return on investment is above 20%, which makes it irresistible! Located in the heart of Santa Cruz de Tenerife, this charming historic tourist establishment comprises 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 heart of the old town. Carefully preserved, the property blends 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 rental units in the entire city. It has 4 rooms that need a full renovation.

It also includes a premises with furniture similar to an old 1930s pharmacy counter, which is ideal for a reception area, a wine bar, or both, since being on a corner draws 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, as it has a valid major works license for conversion to tourist operation.

1. It is excellently located, so demand is constant, with an annual occupancy of 80%. In addition to the charm of being a protected historic building, it is in the heart of the old town yet only a few meters from Plaza de España, the city’s nerve center, making it attractive for business trips and tourists.

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

3. The property offers strong current and future revaluation potential. In the last year, Santa Cruz has been the Spanish city with the highest appreciation. As a prime property with lots of natural light and ideally located, its revaluation is above the city average and also benefits from the current renewal of the old town.

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

This property represents a strategic opportunity for investors seeking a unique asset with a solid appreciation path in a well-established tourist destination.