50 Bed Property for sale
Labin, Istria, Croatia
£2,707,158 *
[€3,120,000]
Full Description
The historical estate in the Labin area covers 18,772 m² and is enclosed by stone walls. Within these walls stands the Baroque Frankovic-Lazzarini palace, built in the early 17th century.
The property includes a decorated Istrian tavern, a luxurious restaurant with approximately 100 seats both inside and on the terrace, a summer stage for larger events within a landscaped park, and a group of buildings on the west side of the wall. The existing restaurant operates as a tavern inside the Baroque palace. The rest of the palace requires renovation and reconstruction according to an already developed conceptual project. The planned accommodation capacity is 86 beds, or about 28 apartments. With the construction of additional facilities on the west side of the wall, the capacity could exceed 50 apartments, including all services and amenities expected of a high-quality resort. The owner is selling the entire property with the project, and development can begin immediately. This is a unique hospitality and tourism complex with cultural and historical significance, located in a strategically important area.
At the moment one building is functioning as a restaurant, the other buildings are ruined.
The whole complex requires complete remodelling. Ref: RE-U-37408Overall additional expenses borne by the Buyer of real estate in Croatia are around 7% of property cost in total, which includes: property transfer tax (3% of property value), agency/brokerage commission (3%+VAT on commission), advocate fee (cca 1%), notary fee, court registration fee and official certified translation expenses. Agency/brokerage agreement is signed prior to visiting properties.
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