It is with great pleasure that Residentia announces the purchase of a new property. The purchase, which was made in March, is the former Hotel Alba Hotel in Minusio and includes a project to convert the hotel into 16 new apartments and to add two beautiful penthouses to be sold in the new viable plan.
The permit for the conversion and the raising of the building has already been issued and construction will begin this month in April 2016. The total cost for the entire transaction, including the purchase of the plot, is slightly below CHF 10 million and once the work is finished (expected to be at the end of 2016/beginning 2017), the property will have an estimated return of more than 5.6%, thanks to the sale of the penthouses and the commercial area already on the premises and rented out to Coop Pronto for the next 10 years.
For further information, please click here
http://www.residentia.ch/en/the-properties/properties-minusio