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Studio in E1

Ref. [3196]

£151,241


Studio in E1


With over 100 apartments already reserved, E1 offers its occupants a range of hotel style services and is geared for modern day living. Highly suited to landlords seeking solid yields and minimum hassle. Each apartment is sold on a standard long lease basis.

All E1 apartments are delivered fully furnished and equipped (including towels, sheets, pots, pans, TV, crockery and toaster) ready to occupy immediately. The development includes a Wellness Spa and Health Club (discounted prices for E1 occupants), plus dry cleaning services, co-working area on the first floor and restaurant. Room service will be available for food and dry cleaning (within certain hours and paid for by the occupant / tenant).

Located near to the new entrance and exit to Gibraltar, close to Eastern Beach and walking distance from the airport, Ocean Village and Casemates, each apartment may be used for owner occupancy, long term let or AirBnB short term style let as the owner dictates. Our recent blog on short let accommodation as an asset class is quite relevant. http://www.chestertons.gi/blog
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There is also a provision for the rental of car, moped and bicycle spaces plus there will be a car club for shared usage of vehicles for short term hire at the renter's expense.

All apartments are minimum 30 sq metres thus meeting NatWest's current mortgage criteria.

The purchase of an apartment includes payment terms of 2.5% reserve, 12.5% exchange, 7.5% 4 months later, 7.5% 8 months after exchange and 70% on completion.

Outline planning consent was granted in 2018, site preparation works are underway and the main contractor is due to start on site in April 2019.

£151,241

Ref. [3196]

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About E1

The Eastside of the Rock is home to our most popular beaches. Eastern Beach, the largest beach in Gibraltar and the one with the most sunshine, lies next to the airport. After that comes Catalan Bay, with the popular Caleta Hotel. There are unique properties in Catalan Bay, with great sea views and direct access to the beach. The final beach on the Eastside of Gibraltar is Sandy Bay, with the property development known as Both Worlds. Generally small properties, but with the advantage of a beautiful golden sand beach.

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