PELOPONNESE RENOVATION PROPERTY

SUBSTANTIAL COMMERCIAL / RESIDENTIAL INVESTMENT

SEPARATE 2 STOREY GARDEN HOUSE

THE OLD TAVERNA, ICHALIA

PARTLY RENOVATED

120,000 Euro

This Peloponnese renovation property is a  superb traditional stone building in the main square of Ichalia, a small rural village near to Meligalas, some 30 kms north of Kalamata, which was for nearly forty years, a famous taverna. Built in 1928, it has some importance, as one of the few remaining buildings in traditional Messinian architectural style.

Ichalia is 1km. from the small town of Meligalas, where there is a range of shopping facilities and services, whilst at nearby Meropi there is a medical centre.

The property consists of two buildings, on a plot of 500 sq.m. The main building fronts onto the main road through Ichalia and there is a further two storey building in the rear garden.

THE MAIN BUILDING

The main building of this Peloponnese renovation property (216 sq.m.) provides three floors, of 72 sq.m. each and has been partly renovated as follows;

  • New roof
  • Full restoration of the main structure.
  • Sandblasted stonework
  • Re-pointed both inside and out
  • New 3 phase electricity supply
  • New marble window sills
  • New metal gates to the courtyard
  • New septic tank
  • Beamed ceilings to top floor. It is also self contained and has external staircase and entrance door to top floor.

Proposals for the completion of the renovations of the main building, include the following

PLAN A

First floor and basement; Restaurant / café with kitchens. An internal staircase would be required to link the two.
Second floor; Owners accommodation or letting rooms. This floor is large enough to create 4 rooms and high enough, for a further 2 rooms in the loft. Some of these rooms could be used as owner’s accommodation, whilst still retaining some of the letting rooms.

Internal partitioning on all floors could be carried out to meet the requirements of a new owner as to the size and number of rooms.

PLAN B

Four two bedroom apartments of 70 sm each

PLAN C

Bed & breakfast; Air BnB; 9 individual rooms
The present owner is selling because unfortunately ill health means that he can no longer pursue his plans. Having regard to the work already carried out, the size of the buildings and the potential, the price of 120,000 Euro is extremely attractive.

THE COURTYARD BUILDING;

The courtyard building provides 80sm of accommodation with a ground floor of 45 sq.m. and, a first floor of 35 sq.m. and a garden with a well.

The building has a tile roof and the first floor has been rendered. Further restoration works are required, including plumbing, electric wiring, new doors and windows.

The gardens of some 350 sq.m. contain fruit trees and vines.

The courtyard building is suitable for use as a separate 2 storey house with a private garden,perhaps as owners accommodation for the whole complex.  At the present stage of renovation the accommodation includes;

  • Lounge
  • Kitchen
  • 2 bedrooms
  • Bathroom
  • Garden

If an owner so wished it could instead be used to provide additional guest rooms, with two on the ground floor and one on the first floor, or as a separate holiday cottage.

Having regard to the renovations already carried out , the size of the buildings and the investment  potential, the price of 120,000 Euro is extremely attractive. Before moving to Greece the owner was an architect practicing in London and he is willing to advice and assist a buyer with the completion of the renovations and the various possible designs. It is estimated that the cost of completing the works will be about 45,000 Euro. The present asking price may be slightly negotiable.

The present owner is an English architect. He is prepared to assist a new owner with the redesign and room lay out of the property and to supervise the completion of the renovations.

MESSINIA

The new Athens – Kalamata motorway has helped to open up this part of Messinia. There is now demand for both overnight and longer stay accommodation from Athenians and other Greek visitors who enjoy the rural atmosphere and beautiful scenery of the Peloponnese. Similarly the area has become more and more popular with foreign tourists from Europe. Ichalia is a cross roads for those wanting  to cross from or to the west coast. Kalo Nero which is 20 minutes away on the west coast, has some of the best sandy beaches in Greece,. At present there is no guest house or B&B to meet this new demand and visitors are having to try and find accommodation in private homes.

ICHALIA

The Old Taverna is situated in Ichalia’s large square, where a popular weekly market is held every Sunday. Ichalia, also has a mini market and a doctors surgery is held in the village twice a week. There is a supermaket and a range of shopping facilities in nearby Meligalas as well as a medical centre.

THE PELOPONNESE

The Peloponnese is one of the last unspoilt regions of Europe. The mountain and coastal scenery is in many places breathtaking. The region is dotted with small villages where life goes on unchanged and where the occasional donkey can still be seen.

Kalamata, the capital of Messinia is a 20 minute drive to the south. The airport receives flights from most European countries from April to October and scheduled domestic flights from Athens, throughout the year. Road connections in the area are excellent with a new motorway having reduced the driving time from Athens airport to under 3 hours.

 

peloponnese renovation property

Property Features

  • Beamed Ceilings
  • Fruit Trees
  • Garden
  • IDEAL AS B&B WITH DINING FACILITIES
  • Open fireplace
  • well