Restaurant + three apartments ready for business, Proaza, Asturias. €229,000 Ref2046

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Fantastic investment opportunity! This large property consists of three apartments plus a busy restaurant in a lively tourist village in the heart of the Valles de Oso (valleys of the bear) just south of the capital of Asturias, Oviedo. This property could be used in a variety of ways: either as a combination of home with multiple rental options or as strictly an investment property with three apartments and a restaurant to generate income.

The main building is over two storeys and consists of a pair of very recently renovated apartments on the ground floor with a single, large apartment, in reasonable condition but needing a bit of work on the upper floor – this is accessed by it’s own stairs at the side of the building. At the other side of the building there is a access via a ramp to the restaurant area which has a large terrace beside the river as well as a substantial internal area. The restaurant is in very good condition, with the internals in wood and exposed stone in an Asturian style, and has been a feature of the village for 30 years.

The two renovated apartments are almost brand new and are laid out as follows. Apartment one has two double bedrooms, and is open plan with fully fitted kitchen/dining area and a lounge occupying the rest of the space. There is a large bathroom as well as a small second toilet area. There is gas central heating and large light double glazed windows throughout. Apartment two is smaller and laid out as a studio with an open plan kitchen/dining/living area and a fully fitted bathroom. Again there is gas central heating and new double glazed windows throughout. Usefully it would be possible to connect the two apartments (with a small amount of work taking down a wall and fitting a door),  to either change the layout or to be able to offer a bigger space for rental if necessary. The two apartments together are about 90m2.

The upper floor does need some work but has a ton of potential as either a good sized apartment, around 90m2, for the owner of the property or as another large rental unit. This apartment also comes with a large loft area and the roof and the structure is in very good condition. The upper floor is accessed from stairs at the northern side of the property. It would be easy to extend the cental heating to this floor and with a bit of work this would make a great family apartment.

Finally, below the building is situated the restaurant. Currently called El Esbardu, it has been running for 30 years in Proaza and has a great reputation in the town – and online. Accessed at the side of the building there is a ramp down to a large outdoor seating area next to the river which has a lovely feel. Inside, there is a beautifully renovated dining area in stone and wood, a small bar area a large storage area as well as the kitchen.  Externally there are more storage areas for freezers and food. The restaurant is a going concern and the owner can provide accounts. So this could be utilised by the new owners or could be rented out.

Overall this is a huge amount of property for a very, very good price and in this busy tourist area the return could be substantial on moderate investment. So if you are looking to make a move to a stunning rural area but need an income – or if you are a restauranteur looking for a property which has a variety of options this could be the perfect place.

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