Proposal for the Sale of an historic and unique multi-faceted property of international relevance and importance
Situated on one of the Mediterranean’s most beautiful and popular islands – and with significant fiscal advantages
Executive Summary
A unique opportunity has arisen to acquire a multi-faceted and historic property set on a Jewel of the Mediterranean – with international appeal and si
gnificant fiscal advantages. The property – located on Malta – occupies a gross plot size of around 4,000sq m and comprises:
• An historic Palace, once home to The Bishop of Sidonia
• A 36 bedroom guest house with accommodation for up to 90
• A fully operational wine bar
• A fully operational Restaurant
• 4 – 6 function rooms
• External terrace and gardens
• The only Olympic and international gymnastics centre on Malta where international events are staged
• A fully operational gymnastics club and training facility
• A fitness centre
• A dance centre
Likely to appeal to those in the hospitality and gym/fitness industries but of equal interest to entrepreneurs looking for a safe and advantageous haven for their money, this can truly be said to be a once-in-a-lifetime opportunity. Not only is the property in first class condition and fully functioning and operational (with great appeal to the local population and visitors alike) but Malta has significant financial and tax advantages that will benefit anyone purchasing or leasing the property. Priced to sell and with positive cash flow from day 1, this turn-key operation has had no expense spared on its acquisition and development by the visionary owner who now wishes to capitalise on his investment and retire. The property is available for inspection at any mutually agreed time. There are frequent flights to and from Malta to all major European and international destinations with airline partners. Full details now follow. The Bishop’s Palace
Originally the summer residence of the Bishop of Sidonia and dating back to 1562, the centre-piece of this unique development is the Bishop’s Palace. As you enter the imposing front door you are immediately struck by the living history of this unique building which has now been skilfully refurbished to provide a host of modern facilities that hark back to the gracious age of the 16th Century. This old part of the property houses:
• The wine bar/restaurant known as Il-Kastell which opened in 2004 and has proved immensely popular with islanders and visitors
• The atmospheric wine cellar - a perfect venue for regular wine-tasting events for up to 50 people.
• The Lounge which forms part of this area has covers for 30.
• The dining area has covers for 75.
• The beautifully equipped kitchen incorporates 2 dry stores upstairs and downstairs.
• Above the bar itself is another room eminently suitable for private functions.
• A romantic Courtyard (again suited to further functions, receptions etc) leads to the very attractive paved Garden. Here is The Garden Room, a separate and self-contained facility for functions with its own kitchenette and walk-in cold room.
• Upstairs and adjacent to the Courtyard is the Cafeteria. This is used as the breakfast area for the Guest House and features an open terrace with far-reaching views.
• A further restaurant area reached by steps from the Courtyard comes complete with its own kitchen together with another Cellar area for functions.
• The Upper Hall with its own Terrace leads to the Chapel area. A further kitchenette is located in this area.
• There are 3 further rooms able to be used for private lunches/dinners
• A large office completes the extensive accommodation. The Guest House
Bowyer House is the 36 room guest house that has been built adjacent to the Bishop’s Palace and has integrated seamlessly with it. Not yet operating to full capacity it has already attracted a wide range of clients and sold 3,980 nights @ €20 a night. All rooms are en-suite. Its attraction lies in its nearness to Malta International Airport and the ability for Groups to take over the whole facility if, for example, they are taking part in one of the international events at the Gymnastics Centre. There is a Guest Lounge, 2 Kitchenettes and 2 self-contained eating areas. An airline serving Malta has recently enquired about block booking accommodation for air crew on 1 or 2 night stop-overs. This valuable part of the property is contributing nicely to the overall income stream and once fully operational will see a significant increase in turn-over. Forward Bookings 2015
Any Purchaser/Lessee will benefit from the 2015 Bookings to hand for Bowyer House which include:
• Negotiated air crew accommodation contract
• 40 people for 3 weeks in March
• 60 people for 5 days in April
• Fully booked for 2 weeks in May
Fully booked in June, July and August (90 people daily)
The Gymnastics Centre
Central to the splendidly equipped Gymnastics Centre is the GymStars Gymnastics Club. It is the only one of its kind in Malta and has international recognition and affiliations. It provides gymnastics classes and training for various age groups from very young children to youth athletes. A wide range of coaching, activities and affiliations are under-taken by the Club which in its relatively short history has already won significant international recognition and prizes. The Gymnastics Centre hosts international competitions and it is when these are staged that the full synergy of the property is demonstrated: first class international facilities complemented by comfortable, affordable accommodation and a “Taste of Malta” hospitality experience second to none. Staffing
Staffing levels fluctuate according to the seasons but the complement at present is:
• Bishop’s Palace: 1 Manager
3 kitchen staff
6 Waiters (2 as maintenance staff when not required as waiters)
• Bowyer House: 1 Manager
1 Maid
1 Office Administrator
• Gymnastics Centre: 1 Manager
6 Coaches
1 Maid
During the summer period a further 4 staff are employed as required. Fixtures & Fittings
A detailed inventory of the fixtures, fittings and equipment will be made available to any seriously interested prospective purchaser. Stock
Stock at valuation on hand-over day will be listed and form part of the sales price and agreement. Purchaser Accommodation
Any purchaser should be under no illusion but that they are buying a unique slice of Maltese history. Not only do they get one of the finest commercial properties on the Island but there is plenty of scope for using part of the Bishop’s Palace in particular as private accommodation (subject to any necessary planning permissions).
