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•6 x 3 bed detached villas
•10 x 2 bed semi detached
•Large communal pool
• Kiddies pool
•Opposite the beach
•Buy to let
•Management company available to run the business
•Great profit returns
This complex of 16 villas which are all being sold together on 5600 square metres of land opposite the beach. The villas are divided into six three bedroom detached villas, and ten two bedroom semidetached villas, all built to a luxurious finish and located opposite the sea in the popular area of Iskele. The style of the properties is totally unique, with well-maintained garden area and a large pool plus kiddie’s pool.
The Rental Potential
November – April £500 per week
May – October £750 per week
SEMI DETACHED PROPERTIES
November – April £350 per week
May – October £550 per week
Figures based on full occupation during the peak season and 50% during non peak
27 weeks in peak season
27 x £750 = £20,250 x 6 villas = £121,500
27 x £550 = £14,850 x 10 villas = £148,500
14 weeks off peak
14 x £550 = £7,000 x 6 villas = £42,000
14 x £350 = £4,900 x 10 villas = £49,000
TOTAL FOR THE YEAR = £361,000
It may work to exclude one of the semi detached properties for on site Management and an office and maybe even a small market, with the maintenance team being on site 24 hours a day.
Costs for on site Management + pool / Garden cleaning £3,500 if managed by Busy Bees , TOTAL £42,000 per annum
The profit would be subject to taxes which can be discussed in further detail with viewing prospects.
As foreign investors cannot buy more than one property, the complex comes with a Company that is being sold within the price.
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