We present one of the greatest successes, since the creation in 2008 of the real estate Destiny Home Fuerteventura, in rehabilitation and promotion-sale of housing.
It is Bristol SUNSET BEACH, apartments with swimming pool in Fuerteventura.
Rehabilitation of the holiday complex in Fuerteventura
The complex was a bank repositioning asset, acquired in 2013. It was in very bad condition, with debris, no swimming pool, unusable roofs, a poor distribution of housing and with an illegal occupation of 25 out of a total of 164 apartments.
A project plan is proposed, incorporating a capitalist partner for the purchase and sale of the real estate complex, sharing the business idea.
After obtaining the building permits and removing the squatters, construction began at the end of 2014, with the show apartments and sales offices.
After 2 years, the work is completed, with estimated sales figures for the complete refurbishment of 5 apartment blocks, the first 2 blocks are proposed for sale to investor clients and second home buyers (75 apartments). Prices ranged according to market supply and demand and the company’s specific needs.
Some of our investors have achieved not only the annual return, but also a five-fold increase in the value of their investment through the appreciation of the property.
As of today, the apartments are valued at €177,000:
View apartments for sale in Corralejo
This money will be used to complete the work on blocks 1, 2 and 3, which Destiny Home owns, as well as the common areas and roofs.
At the beginning of the works, during the excavation it was discovered that there was already a half-finished pool, which conditioned the construction of the new one. The solar panels did not fit to make the complex self-sufficient. The energy meters are individual in the first 2 blocks built; the other 3 have community meters.
The sale of the last 3 blocks was made by means of a mandatory tourist management mandate; the buyer has to dedicate 100% of it as an investment to make it profitable as a vacation home. In this way, Destiny Home maintains the management of the apartments.
The spaces that were used as warehouses, which did not even have windows, electricity or any facilities, were reconverted to:
- La Platanera Restaurant,
- The Roof Chillout Deck,
- Endorfina Club sports hall and gymnasium.
- Back office and offices with sea views.
Between 2015 and 2017, the final 3 blocks were rehabilitated, bringing them sequentially into operation, while work on the following blocks is being completed.
Initially, investors were offered a net 5% per annum on the cost of the apartment. After covid, profitability is variable, depending on the investment of each apartment and the annual income from tourism management.
The profitability achieved is around €22,000 to €25,000 gross per year.
Bristol Sunset Beach, success for real estate investors in Fuerteventura
The project involved the refurbishment and sale of real estate in the building, so that it remains a great opportunity for real estate investment in Fuerteventura.
Results of the rehabilitation project of the apartment complex:
– First mixed-use residential-tourist complex operated as a vacation home.
– Opening and management of vacation rental of 100 apartments.
– Average occupancy: 85.4%.
– Average price per night: 70€.
– Website: Bristolsunsetbeach.com
– Online Reputation: Booking (8.7/10) – Tripadvisor (4.5/ 5) – Google Reviews (4.5 / 5)
Vacation rental management and additional service offerings
In Destiny Home we take care of the integral management of the properties, offering the highest profitability in its sale or rental as tourist housing.
Bristol Sunset Beach is a holiday resort in Fuerteventura ideal for vacations, a true natural paradise, in a privileged location in front of the sea of Corralejo, a few minutes walk from the center, where the shopping area is located, a beach environment with multiple leisure options, gastronomy and the best sunsets of the island.
At Bristol Sunset Beach you can enjoy a tailor-made stay: we provide you with sports activities (surfing, yoga, cycling…), coworking spaces, a terrace with breathtaking views to enjoy the sunsets of the island and a signature cuisine restaurant with an international touch.
Location of the resort in Fuerteventura:
Fuerteventura is a true paradise with 150 km of golden sandy beaches and turquoise waters. Enjoy splendid sunny days all year round in a privileged location full of leisure, sports and relaxation experiences.
What do customers think of Bristol Sunset Beach?
In a public way, the clients of the Bristol Sunset Beach apartments share their experience, as can be seen in the Google reviews, where features such as the facilities, service and location are highlighted:
In the Bristol Sunset Beach Apartments Reviews on Google, you can read customer reviews of the resort;
