Commercial property for Sale

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STUNNING 4 STAR GOLD BOUTIQUE HOTEL FOR SALE IN RIBADEO
This building was completely rebuilt in 1910 when the sailor José María Cancio and his wife Asunción Martínez Marzo had already died years ago. We assume that this work was paid for by his son-in-law Vicente Loriente (Castropol 1859 1939) because in the work budget requested from the Oviedo architect Juan Miguel de la Guardia Loriente appears as the petitioner. From family oral transmission we know that Loriente, who lived part of the year in Cuba, built this house for his wife to spend the winters in the company of her sisters and respective families.
It is necessary to make a small reference to the outstanding architect of the house. Juan Miguel de la Guardia was born in Ontaneda (Next to the Pas River, Cantabria) in 1859. He studied architecture in Madrid, graduating in 1881. From 1882 he held the position of municipal architect of Oviedo. He is the author of the projects of many residential houses for the bourgeoisie in Oviedo (streets of Uría, Fruela, Toreno and Milicias Nacionales) and of numerous houses for Indians in Asturias. The Casa de Conde (Escandalera) stands out in Oviedo. And that of Dean Payarinos (the Superior Conservatory in the Gorrada del Obispo). He built the Palace of Concha Heres, on Calle Toreno, now disappeared.
In western Asturias he made Villa Tarsila (House of Guatemala) in Luarca. In Castropol he carried out the project for the extension of the Casino in 1906 and the Kiosk in the Vicente Loriente Park (from 1911). He died in Oviedo in 1910.
This work was made with the best materials: northern red pine, pine, chestnut and oak woods; granite stonework, probably from the surroundings of Burela, without resorting to the more common Ribada marking in marble limestone from Vilavedelle; fittings and locks from France; foundries from Gijón; electric motor for well water service; mahogany toilet lids; electric bells; etc. All these materials had to arrive by sea. The contractor who carried out the work was Ramos (father of Pepe Ramos). Without the plot, which already belonged to the family, the work was budgeted by the architect at 20,822 pts. During the same years, the Casino de Castropol had a budget of approximately 24,000 pesetas.
In the backyard, two camellias, one red and one white, were planted. As symbols of Indian house.
It currently consists of 9 double rooms, several of them with a balcony, a living room for breakfast, lunch, dinner, meetings... kitchen connected with goods lifts with the restaurant on the ground floor, a charming interior patio to use as a terrace/dining room and a basement area currently with storage use, elevator... The comprehensive refurbishment was carried out in 2018 with the best materials and with an exquisite design and decoration maintaining a modernist air mixed with a modern touch at the same time. All the details have been carefully polished to offer the high-level image that the hotel has, in addition, even being in the heart of the historic center of Ribadeo, you can enjoy a relaxing and quiet atmosphere, ideal for a perfect holiday in the Mariña Lugo or for teleworking in an unbeatable environment.
If we look at the data from the national institute of statistics we can see that both in the REVPAR (revenue per available room) and in the ADR (average daily rate) data it is above the average of the 4-star gold hotels in the area and in terms of the profitability that the purchase of the hotel would mean today, It would be above 7% taking into account that these data do not include the profits given by the restaurant since the service is currently outsourced, but if it were exploited personally by the buyer, the profitability would be above 9%.
Also taking into account that the north of Spain is booming due to the high temperatures in the rest of Spain and the incessant increase in tourism in the area, the data will undoubtedly improve, so this is an excellent opportunity to acquire a unique property in one of the areas with the greatest projection today in the entire country.
Do not miss the opportunity to come and see it in person or ask us any questions you may have.

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