Rethymno Aither - €1,500,000

Business property for sale in the Old Town of Rethymno.

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

It consists of:

Land in size of 492,11m2

Building of 507,53m2 comprising:

- Ground floor of 345,53m2
- First floor of 162m2

The total building allowance on the plot is 738m2 (1.5%) so, there is still permission for another 230m2, of additional building.
The building needs renovation but is still in very good condition featuring traditional Venetian architectural elements.
Having an excellent location facing two streets and with a garden, offering a great size and a big building allowance, 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 turned into a luxurious Boutique Hotel of around 1,000m2 (with 46-54 beds approved), with swimming pool on the roof and best solutions to be exploited at its maximum capacity.

The property has the ability to apply 3 actions: Boutique hotel, Coffee-cold plate and Woman care operational, all year round.
The price of €1,500,000 includes the reconstruction project.
Turn key price of €3,000,000 (delivery time 1 year).

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.