Investment opportunity on Hydra Island. Beachfront building of 202sqm with 55sqm remaining building allowance on 513sqm land plot. Perfectly positioned just next to the bay and only 800m from the town port, this property enjoys unique sunset and ocean views from all its windows. Please note that, although structurally sound, this property is not immediately habitable as its previous use was as a nightclub and there are no designated rooms, bathroom kitchen etc.
The structural condition of this building is excellent as it underwent heavy renovation work a couple of years ago. The roof is entirely new and the stone walls have had heavy maintenance. The building is a large open plan flat space that could be easily modified to the taste and requirements of any buyer.
The asking price of 1,200,000 Euros takes into account the kind of work that would be needed to restore this to a residential property. It is estimated that the raising of internal walls, laying a new floor, installing a kitchen, bathroom etc could amount to approx 100,000 – 150,000 Euros. The additional build allowance of 55sqm could be used to build another smaller house.
There is also the possiblity to purchase a nearby beach front land plot at 700,000 Euros. See our website reference HYDRA1.
Hydra is an island of natural beauty and is historically preserved, where no cars or other vehicles are allowed. There are 2,500 permanent residents during winter and it is very lively with tourists in the summer. It is located 36 miles south of Athens and is accessible daily by frequent scheduled hydrofoils that make the trip in 1 hour 15 minutes.
This property is in a very unique position as it is located on the cliff right above the Avlaki bay, facing both the new and old seaside pedestrian streets of Hydra. There are steps leading down to the pebble beach below, right in front of the house, across the road. The distance from the main harbour and market is 800 meters and a nearby fishing harbour lies at 700 meters. The main harbour can accept yachts and both can harbour speed boats.
The surrounding area is residential and the plot lies next to historical mansions and some newly built traditional island style houses.
The property is within town plan building boundaries and has building rights for 50% of its area. It consists of an open space ground level building of 202 sqm. and a 180 sqm brick fenced yard on a land plot of 513sq.m. In addition, there is 130 sqm of non- developed space, on which, under current building regulation, there may be built at least another 55sqm, possibly as an independent residence behind the yard, on elevated ground with a view to the sea, with a direct entrance from the road and its own separate yard.
The property used to be a club-restaurant until its recent reconstruction. Its privileged position provides high commercial value and an ideal position for a villa of exceptional quality after interior modifications. The building was first built around 1860, traditionally with heavy local stone and a beautiful ceramic roof. It is very spacious and has a high ceiling, which could allow for a loft. The property has stone flooring and the different height levels provide a magnificent sea view from every spot. It is a rectangle construction with a total of 34sqm facing the road. The yard is surrounded by a brick and stone fence.
Investment opportunity on Hydra Island. Unique large beachfront property with potential to convert into a superb seafront home or business.
A Property in Greece,
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