Nondas up for sale

[abbo]

I see on RightMove that Nondas 12 apartments et al are up for sale at €450,000. So you'd reckon €400,000 would seal a deal.

http://www.rightmove.co.uk/overseas-property/property-46520959.html

Cracking opportunity if you ask me.

Thoughts?

[rilo57]

  Sounds ok till you do a bit of a rough calculation.If every room was full with maximum occupancy for the whole holiday period it would generate approx €74.000 . Divide that into say €400.000 it would be at least 5 years to recoup the money.thats without any other costs and not taking a wage....leave well alone...

[abbo]

Yeah fair point that. Mind you,I havent got €40 let alone €400k 

[cambridge]

I remember looking at this a while ago, in that day dreaming sort of way, where you only consider the upsides, and none of the downs. It's been on the market for some time now, and with the current strength of sterling, it does look like quite good value. However, it will take proper hard work and dedication to make it pay well, and when I'm in the village I do become a little lazy. Not for me. I do miss Elpitha though, at the time it was probably my favourite eatery in the village.

[rilo57]

 I only ever got there once to eat ( well tried to eat) was always popular and reservation was needed.We finally got sorted one evening and we had a table for 6.we o nly got as far as drinks and that was it..after a bout an hour of waiting and asking for our order to be taken we gave up and went to the old faithfull Nafsica...Think thats my first and only problem in San Stef in 25 years...

[cambridge]

Rilo, your story doesn't surprise me, and we've been tested to the limit ourselves, but once the meals arrived, we couldn't help but forgive the place. (Mind you, we were probably that hungry by then that we'd probably have forgiven anyone, just for a crust). To try and help Dimitri with his meal planning we used to see him in the early afternoon, give him our party's order, and tell him what time we would arrive. It made no difference whatsoever. But, we always found the food, atmosphere, music, and host, to all be first-class, and interesting. It used to make for an enjoyable change from the other tried and tested options in the village, as long as you didn't have anywhere else to go, anytime soon.

[rilo57]

  Glad it was not just us then.normaly im very easy going regarding waiting for meal etc.but it wasent an early reservation to begin with so was geting a bit to late.but yes it did have a nice atmosphere and great views.

[Andy7]

  Sounds ok till you do a bit of a rough calculation.If every room was full with maximum occupancy for the whole holiday period it would generate approx €74.000 . Divide that into say €400.000 it would be at least 5 years to recoup the money.thats without any other costs and not taking a wage....leave well alone...

And of course you would be lucky to achieve 70% occupancy rate and have all bills to pay on top. Would be a great business as a lifestyle choice but don't expect to get your money back within 10 years! Andy

[rilo57]

Think 10 years is being a bit optamistic...would make a nice villa conversion,knock a few walls out here and there.already have your pool.

[Frusie]

Hi, we're booked in for 2 weeks in August. Bit worried now

[babs56]

Don't be worried its been up for sale for quite a few years now . Sally and Nondas will make you very welcome .

[Frusie]

Hello everyone.
We contacted Sally at Nondas yesterday who informed us Nondas grandson is now running the apartments, so it's business as usual
Trish