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Don Benito Apartments for Sale

(Calle San Bartolome, El Arenal)

 

THE PAST

Don Benito in its hay-day was a hotel 400 meters from the popular beach of Arenal and its Yacht Club. Perhaps because the 400 were up a small hill – too many to walk/weave from the Night-Life all along the Playa de Palma the hotel had its problems, closed and was converted into a block of flats around 1977. Prices then averaged only 125€/m2. They soared almost 20 fold peaking at 2386€/m2 in 2007 before dropping more than half to 1213€/m2 today. This is still a ten-fold hike since day one but what a roller coaster ride!

THE PRESENT

The building extends over two streets. Calle San Bartolome to the east is on the 23 bus route which commutes all along the beach to & from Palma every 15 minutes from 6am to 11pm. Just opposite is the refurbished Hotel Torre Azul where you can accommodate overflow guests. With a holiday home on the beautiful Isle de Mallorca you risk having plenty of distant family/friends turning up. A little further up the same street is a primary and a secondary school. On the other side of the block are Calle Terral and Plaza Major. Here you will find a shopping mall, health center, chemist, banks and a park. There is a small daily market and on Thursdays a giant market attracting people for miles. Here you will also find the Town Hall & Police Station and you are within walking distance from Aqualand – the largest water park on Majorca.

THE FUTURE

The area is up and coming although Don Benito still lets the side down. The building has been neglected for some years and this has finally been recognised by the Town Hall. The upkeep of the block has been removed from the control of the Community Association and is subject to a major 450,000€ renovation project operated by the Council of Lluchmajor. This has already started with the urgent repairs. Each owner is now responsible for his share of the 450,000€. Payment is being enforced – it appears that the Ajuntamento (Town Hall) means business! Each of our apartments have paid the total due, so as a purchaser you have nothing more to pay. The main project is scheduled for completion in 2014.

206 SOLD

This is a studio and at 36m2 the smallest of our Don Benito apartments yet has space for a self-contained kitchen, a 32″ TV and of course a bathroom and balcony. Priced at 41000€ it will rent for 325€/month 9.5% return

312 RENTED BUT FREE FOR SALE

On the third floor overlooking the main street down to the beach.this fully furnished 41m2 studio is rented for for 400€ per month. it is on sale for €58000 giving a return of 8.3%.

507 RENTED BUT FREE FOR SALE

A feature of this larger 76m2 apartment are its sea views and an office! It accommodates a lounge (with 39″ TV) and dining room or a second bedroom and of course has a separate kitchen and bathroom It is on sale for 102.000€ and to rent for 600 €/month a 7 % return.

619 SOLD

A one bedroomed flat whose balcony overlooks Calle Terral where the park and shopping centre are. With an open plan kitchen and a total area of 44m2 this property was sold in 2007 at the peak of the price boom for 105000€ (2386€/m2!). It had been rented for 500€/month – 5.7% return.

815 RENTED BUT FREE FOR SALE

On the eighth floor but unfortunately with out the corresponding views. This is a well planned apartment of 56m2 and has a bedroom, lounge, kitchen and bathroom. Rented at 550€/month at a price of €67000 gives a return of 9,9%.

816 RENTED BUT FREE FOR SALE

The 8th floor apartment has a bedroom, bathroom, small terrace and a separate lounge and open plan kitchen – 59m2 in total. This cosy flat is priced at 66000€ and rents at 430€/month giving a return of 7.8%.

San Bartolomeu SOLD

On the 2nd floor a compact one bedroom flat close to shops and schools. 400m from the beach.The Sant Bartolomeu flat, on the 2nd floor of the Don Benito building in Arenal. It is a compact 1 bedroom flat (50 square metres) close to shops, the local school and park. 400m from beach.