studio development property in E1
About the Property
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
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.
- Local developer
- Gymnasium & pool
- Fully furnished and equipped
- Ideal buy to let with tax breaks
- E1 Wellness Spa & Health Club
- Restaurant / café / dry cleaning
About the location
The East side of Gibraltar brings a welcome change from the hustle and bustle of Town. With three sandy beaches to choose from, Sandy Bay, Eastern Beach and Catalan Bay, it’s a dream for the beach lover. Catalan Bay started life as a fishing village and, despite some modernisation, still has this authentic feel with a small selection of bars and restaurants including La Mamela, one of the finest fish restaurants in Gibraltar. The iconic Caleta Hotel situated at the far end of Catalan Bay, boasts magnificent views over the beach and out onto the Mediterranean Sea. A treat for any visitor wanting to relax and unwind. Sandy Bay has been recently restored to its former glory boasting a stunning golden sandy beach. Eastern Beach is a long stretch of sandy beach closest to the runway enjoyed by locals and visitors alike. The East Side also hosts warehouses and semi-industrial units away from the beaches. This side of Gibraltar benefits from day time sun and cooler nights.