Hotel with 86 rooms in Pag, Croatia, for sale

General information

This hotel on the Pag peninsula is a unique investment opportunity, currently in a devastated state and requiring complete remodeling or adaptation. The total land area is 21,000 sq.m., with a plan to purchase an additional 5,000 sq.m. The existing structure, built in 1967, has a total surface area of 3,100 m², consisting of a ground floor and two additional floors, featuring 86 accommodation units. The hotel includes a restaurant with a total area of 758 m² and a terrace area of 1,170 m². The terrain is slightly sloping towards the town beach and is irregularly shaped.

Location

The property is situated on the Pag peninsula in Croatia, offering proximity to the beach and local amenities.

Infrastructure and features

• Hotel and catering - T zone with all amenities (entertainment, catering, commercial, recreational, therapeutic rehabilitation, etc.)
• Maximum footprint of 0.4
• Maximum height of GF + 3 + PH (max. 70% floor surface)
• Minimum green surface of 20%
• Underground floors not limited (minimum 2 levels of underground garages)
• Potential construction parameters: Overground (brutto) area of 20,875 m²
• Minimum number of possible parking spaces: 52
• Maximum potential height of 5 floors above ground + 2 floors underground for garages and other facilities
• Project to convert the existing structure into a 4-5 star luxury apart-hotel
• New hotel features: shopping mall, fitness centre, congress hall (5,000 sq.m.), public open space (550 sq.m.), public garage (2,500 sq.m.), residential area (3,100 sq.m.), terraces (2,900 sq.m.), communications/public areas (1,900 sq.m.), entertainment roof area with two swimming pools and gardens (3,300 sq.m.)
• Total brutto building area of 28,700 sq.m.
• Total open space area of 6,000 sq.m.
• Property advantages: Garage, Gym, Urbanized

Investment appeal

The hotel currently owes approximately 2 million euros to the bank, with the sum increasing annually due to accrued interest. A new urban plan has been adopted, allowing part of the property to be designated as a residential zone, enabling the potential development of apartments for sale. This property holds significant potential to become a luxury resort similar to the Kempinski or Dubrovnik Sun Gardens format, featuring both hotel and residential components.