Investment Opportunity - Commercial Unit for Sale with Tenant

Description

This 80m2 commercial unit is part of a vet’s clinic that started with one unit and due to the expansion of the business had to extend. It has front and back access and it is divided in a few rooms, it has a toilet, air conditioning and grills on the front and back entrances.

It is situated on the ground floor of Rioja commercial centre facing a large communal area with an open view. This commercial is a good investment as it is sold with a tenant with a rental contract until May 2024 with a 500€ rent paid at the beginning of every month, the annual increase is cumulative every year according to the IPC.

Rioja Commercial Centre is in Villamartin, a very popular area with tourists and most of the population consists of expatriate communities who have settled there in the last 20 years, virtually transforming the village into a modern-looking town. Apart from Villamartin Golf Course there are also other golf courses nearby and numerous beaches, the closest being La Zenia beach.

OPENING LICENSE

In order to open and run a new business in Spain it is OBLIGATORY to have an opening licence in your (or your company) name. With most municipalities in Spain (including Torrevieja), it is not permitted to open a business without having an opening licence in place, however, because of the backlog in Orihuela Costa it is possible to open once renovation work has been completed and an opening licence application has been made to the town hall, so if you want to open a shop or café-bar and you have done all this you could open the next day.

It then takes at least one month for the town hall inspectors to inspect that all work has been completed according to regulations and the plans submitted. Other types of businesses/uses must comply with a whole range of varying regulations, a café-bar is totally different to a pub, an engineer is essential.

Before signing any contract or paying any deposit it is highly advisable that you employ the services of a qualified engineer or architect. For a small fee of 150€, an engineer will check that the property or properties you are interested in, are fit for purpose. The engineer will advise you what work and paperwork you will need, to obtain an opening licence. If all that is needed to obtain an opening licence (rarely) is to change the name, then the cost will be 350€. Normally an electrical project and opening licence project will cost about 1,600€ however most engineers will deduct the original 150€ from this price. Payments are subject to 21% IVA (reclaimable).

We are happy to give you the contact details of an English speaking, well experienced engineer who has specialised in dealing with the town halls in this area (Orihuela Costa, Torrevieja, Torre and Pilar del la Horadada).