3 STAR HOTEL IN CANNES WITH PLANNING FOR HOTEL REDEVELOPMENT

Cannes, French Riviera, France

FOR SALE

€18,900,000

Image for illustration purposes only. Does not show the actual property.

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INVESTMENT OPPORTUNITY

FOR SALE: the existing 3* Hotel (22 keys / 600 M2) in its current state in CANNES, French Riviera with the Redevelopment Potential.

PROPERTY TYPE

HOTELS & RESORTS

INTERNAL AREA

4,000 M2 (redeveloped)

UNITS

78 (redeveloped)

PLOT SIZE

STOREYS

7 (redeveloped)

BUILT

PROPERTY DETAILS

LOCATION
Located in the city center of Cannes, close to the beach; approximately 34 km from the Nice center, about 26 km from the Nice airport, and 6.4 km from the Cannes-Mandelieu airport.

AREA
The sophisticated City Center is located within the bay of Cannes and includes swanky palm-fringed beaches, the Croisette promenade with the chic Belle Epoque apartments and the iconic Hotel Martinez.

The Cannes Film Festival takes place in May in the Palais des Festivals, a modernist building overlooking the quays. International designer boutiques and art galleries rub shoulders with the restaurants and open-air cocktail bars around Rue d'Antibes.

THE HOTEL REDEVELOPMENT PROJECT
The Hotel Redevelopment project includes the demolition of the existing Hotel and the Construction of a New Hotel comprising 7 Floors; 78 rooms, each room with a balcony; and a Roof Terrace across the total area of approximately 4000 m2.

Estimated build costs are 9,200,000 € at 2300€ / 1 m2 subject to developer's finish (exclusive of the purchase price).

Price €18,900,000 HAI

Please be advised that a Letter of Interest and the Proof of Funding will be required from the potential investor to provide further information.