Business Profile

These popular and contemporary, luxury villas are owned and operated by a British company that offers luxury holidays, villa rentals, property sales and management on the very well known and internationally renowned Greek Island of Zakynthos.

The villas themselves are perfectly located on a hillside overlooking the island's stunning southern coastline, just outside one of the islands peaceful villages.

The villas are ideally designed for eight people however can accommodate up to ten. Each villa has its own private pool and stylish interiors including designer bedding, bathroom suites and the latest entertainment technology – including a plasma screen satellite television.

Each guest's holiday experience is managed from arrival to departure by a local family, who have been looking after tourists in this area for over 25 years.

Airport transfers are included and a maid service, with a welcome hamper on arrival. Anything else a guest desires, from tours to butlers, chauffeurs and close personal security can also be arranged.

The business assures each of its guests a close and personal service that they would have never experienced before, but will want to experience again and again, year after year. It is this commitment to service quality that underpins the nature and success of this resort’s significant return business.

Can be operated as a fully maintained lock up business from anywhere in the world with its managing agents or as a lifestyle business purchase living in Zeus (Villa 1) and letting Artemis & Aphrodite (Villas 2 & 3).

Zakynthos

Zakynthos, also known as Zante, is the southernmost of Greece's beautiful Ionian Islands. It is perhaps the most lush of all the Ionian Islands with its strong agricultural tradition of wine, currants and olive oil production.

Today Zakynthos is one of Greece's most popular tourist islands and still, the people of Zakynthos remain some of the friendliest in the Ionian and its sandy beaches are hard to match.

The Venetians, who planted many of the medieval olive groves from which the villas take their name, described Zakynthos as 'The Flower of the Orient', largely due to its fertile plains and verdant hills.

The Villas

The property forms a complex of three stone-built luxury villas in their own extensive private grounds, set on a hillside with panoramic views of Zakynthos and the neighbouring islands of Marathonisi and Pelouso.

The villas are built in the traditional Zakynthos style, with extremely modern and fashionable interiors - including the latest kitchen designs from Porcelanosa. The villas also boast technology such as satellite television and plasma screens. There is secured entry with each villa being alarmed and an elevator for guests and their luggage from the car park to the villas.

The Villas are designed for eight persons, but can accommodate up to ten people. Sleeping accommodation consists of three bedrooms, two double rooms, and one large room with two sets of bunk beds and one double couch bed.

Each villa has it's own private swimming pool. Other features include modern bathrooms and separate ground floor shower/wash rooms.

The villas are air conditioned throughout and have open fireplaces for the winter months. There is also a barbeque and an outside dining area. A local supermarket and bakery are within walking distance of the villas.

Villas can be rented individually or, alternatively, it is possible to rent the entire complex thus ensuring complete and exclusive privacy.

Customer Service

The guest comes first. This is the simple and robust formula for all aspects of a guest’s stay at one of the three villas.

The business is supported by exemplary relations with key suppliers who have helped to ensure that customer service is never compromised and that their experience is positive. Customer issues are dealt with thoroughly and effectively as any rare occasion arises. Testimonials and customer comment book contents are available for serious purchasers.

Key Strengths

The complex is an autonomous organisation where the business owner has, over time developed and nurtured a management team capable of overseeing business operations effectively, reducing the need for constant or daily input from the vendor. This has resulted in customer relations founded on a history of satisfaction and not contingent upon the remaining presence of the vendor. However, could also be occupied as an owner operator as per previous comments.

The complex is becoming well established in a short time and is already in a profit situation, with a strong, growing customer base managed by a comprehensive and sophisticated blend of management expertise and customer service. The business is also starting to realise a level of repeat business. There are already enquiries for April – May 2008.

Growth and Expansion

The current market for this tourist business is growing and is forecast in the near and longer term for further significant growth. The business is well positioned to take maximum advantage of this growth as it occurs. It has been confirmed that the island will be gaining a golf course near to the villas and it has also been reported that the airport and tourism authority is trying to secure budget airline year round access with Easy Jet. The owners have not marketed the villas for winter rental yet, which can be achieved by marketing towards the many teachers for example who come to the island for the winter months.

Direct flights operate from May – October however, you can access the island via daily Olympic Airways flights from Athens.

Key Opportunities

This is an outstanding opportunity to build on the existing business services and customer base of this property complex. With a strong demand for its experience combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.

The Island is well supported by International travel links from all parts of the World and as such is well positioned as a fully International holiday or vacation offering.

Technology

Extensive administrative and specific technical systems have been set up to provide the technology required for a modern and efficient business. The web site is self managing and hosted by a reputable company.

Advertising and Marketing

The business has used limited advertising in the past but includes promotion to international markets and there are excellent opportunities to increase this and market the business more aggressively to significantly increase turnover.

The complex has a comprehensive website detailing the villas, services and a history of the complex, there is little doubt that turnover and profits will increase through development of this medium, as it consolidates even further the business’s reputation Internationally and opens the business to further enquiries.

A high proportion of the business's revenue thus far has been due to its excellence in quality and service and strong word of mouth recommendation.

Employees

The business is run by a managing agent who conducts all client management and also instructs a gardener, pool cleaner and 2 villa cleaners throughout the summer months.

Reason for Sale

Due to changes in personal circumstance of the joint UK owners and other investment interests this is a reluctant sale approximately 3 years ahead of plan. More information will be made available to bona fide parties.

Financial Information

The property complex is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties.

Rental revenue for the first full year of 2006 was above €50,000 (+3.5%) with income forecasts and potential exceeding 10% within three years. The vendors feel that with investment in sales and marketing and the increase in market demand the business could dramatically increase its revenues and profits.

Title

The plot has already been divided into 3 individual plots plus communal areas enabling the houses to be sold individually either as part of this sale or as an asset divide in the future.

Incentives

The vendors are willing to enter in to a commercial value contract of sale to reduce significantly the associated fees of buying such property.

The process of sale will be made as simple as possible with a local notary and joint solicitor already instructed to act for both vendor and purchaser.

The vendors may consider covering the legal costs for suitable purchasers offering the asking price.

Introduction to Emporiki Bank with whom a current mortgage on the property stands can be made available.

Support & Training

If required, the current owner will provide all necessary training and all relevant contacts to allow continuity of trading.

Topography

Download a plan (Adobe PDF).

To discuss this opportunity further then please telephone Paul, the owner, direct on +44 (0) 7778 866 666 in the first instance. Or email any question to info[at]theolivegroves.com.