Outside View
Outside View
Outside View
Ground Floor Plan
First Floor Plan
Second Floor Plan
Development Location

Property Description

Masseria Cerasina is a property, which dates back around 300 years. Situated in 22 hectares, it is a former monastery where local monks once produced extra virgin olive oil from the ancient olive trees that scatter the land. The main Masseria building is in solid structural condition and retains all of its stunning original architectural features, including the vaulted ceilings and huge fireplaces.

There are several walled gardens which are filled with fruit trees. There is also an underground grotto (a natural cave) which could be converted into a luxury spa and wellness centre.

The opportunity

Masseria Cerasina has planning permission for conversion into a five-star hotel providing world-class facilities that could easily match or exceed the other hotels in the area. Initial plans suggest that the proposed hotel could have up to 60 bedrooms.

There is also scope to build around 10 villas situated independently from the main hotel. The hotel has permission for a swimming pool, a spa, restaurant and bar, private gardens, use of the land to grow produce for the kitchens, plus have its own private beach bar on the adjacent coastline.

Potential income

Research in 2015 indicates high-end hotels operating in the region command between €300-700 bed and breakfast per night, based on two people sharing.
Standard room rates can reach up to €1000 in the high season of June-August. 

Demand is consistently high throughout the year, with golf breaks, spa holidays, wine tasting and cookery courses all attracting tourists.

The cost

The Masseria and land sold in its current state for full re-development €6 million (excluding local taxes). The hotel fully built to agreed specification, with outdoor swimming pool, health spa and gardens €17-20 million (excluding local taxes).

You can download the Hotel Masseria Brochure here

Specifications

The proposed development would incorporate the following:

  • Spa and wellness centre with plunge pool
  • Outdoor swimming pool
  • Several bars & restaurants
  • Retail boutiques
  • Outdoor games facilities
  • Interactive cookery centre
  • Private beach club close by
     

Price

€6,000,000

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