The property is located in the village of Imerovigli, the highest and most prestigious among the traditional settlements on the Volcanic Cliffside called the ‘Caldera’, offering spectacular views. Its prime location offers excellent access from three directions, without steps, from the main cobbled path, central village square and nearby parking spaces at less than 60 meters. The property is a partly restored, partly rebuilt and reformed complex of authentic 1800’s cavehouses, transformed into a traditional hotel in the 1990’s, maintaining the original characteristic Santorinian architecture of the former mansion with few additions of new spaces.
The property is built amphitheatrically into the Cliffside, in 5 connecting levels, covering approximately 500m2 of indoor spaces and approximately 310m2 of outdoor spaces (comfortable verandas – terraces). All apartments have large private verandas. It comprises of: – 2 studios ranging approximately from 15m2 – 30m2, – 1 apartment at approximately 35m2 (with outdoor Jacuzzi-dip pool under development) – 5 original cavehouses ranging approximately from 40m2 – 70m2, 3 of which with private indoor/outdoor Jacuzzi-dip pools (one cavehouse is currently under development ending in 2016 and one in need of renovation). – 1 office/reception space – 1 communal W.C. space with lavatory and 2 toilets with showers. – 2 small pump rooms – 1 Central boiler control room – 1 Service room with kitchen, linen room & laundry, storage space, renovated staff bathroom. (Was formerly a 3rd studio / double room and can be converted back to a 9th hotel room) – 1 cistern – 1 water reservoir This property offers a sound investment opportunity as it holds great potential to be used in a variety of ways. It can be profitably operated as a hotel or villa complex, or it can be enjoyed as a spacious private villa. In regards to the property as a business investment: This property currently holds a 4 Star Hotel license under the category of furnished apartments, for 7 Apartments housing a total of 20 persons. This license can be easily updated to reflect the 8 units currently being developed. Following a brief restoration and renovation in parts of the property between 2006 -2009, our company has since 2014 began an in depth redevelopment plan that sees not only a dedicated full restoration, but a significant upgrade of the property as a whole.
Parts of this plan have already been completed and we are currently underway with the continuation of works, with all necessary permits for current works issued. According to this plan, a new hotel license will be issued to replace the former active license at the completion of our redevelopment project. The new license will reflect the full capacity of the property from previously 7 apartments to 8, housing comfortably 28 -30 persons.
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