- Collective-ownership arrangement
- Perfect lifestyle business or corporate investment opportunity
- Beautiful 6-bed riad in the heart of Marrakech Medina
- Successful boutique guest house
- Fully staffed and managed
- Large roof terrace with views over the city to the Atlas mountains beyond
- Turret terrace - perfect for sundown cocktails
- Spa facilities and plunge pool
- 15mins from Marrakech airport
This beautiful riad in the heart of Marrakech Medina offers a unique purchasing opportunity, perfect for someone looking for a lifestyle business or for a company looking for a useable asset. Currently a successful boutique hotel, the riad and business are being offered as a collective-ownership initiative. You can find lots of details for the riad below, but first, here is an overview of the purchasing arrangement.
Collective-ownership is a model of property ownership, designed for those that are drawn to the idea of having a holiday house, but don’t necessarily have time to enjoy lengthy stays at a second home. It is comparable with the traditional ‘share-of-freehold’ arrangement in the UK whereby owners occupy, on a year-round basis, a property such as an apartment in a building that is co-owned with the other freeholders. By adapting this ownership model, shareholders collectively own a property and each shareholder occupies the entire property for an agreed number of weeks each year.
The concept allows owners to enjoy all the upsides of owning a large luxury property with plenty of space for holidays with extended family and friends, without having to pay the full purchase price tag for the property or have the responsibility of all the year-round costs of maintenance and service. It is also an arrangement that would work well with corporate investment, whereby the riad could be used for client and staff incentives without rental cost or management responsibility.
In addition to 4 weeks private occupation allocation per year, the ownership model at this particular riad also allows shareholders to book in and stay in a room whenever there is availability throughout the year.
The riad is currently an up-and-running successful boutique hotel business, and the new investor is buying a third share of the property and of the UK-registered business. The current owners would continue to manage all the day to day running and administration that relates to the property and the business. Income generated by the business would be split equally between the three investors.
The ownership agreement entitles each owner to:
* 33% share of the property and business
* 30% of any residual income from the rental of the riad after expenses and management fees.
* Four weeks private use of the fully staffed riad per year
* Private use of the riad over Christmas/New Year every third year
* Any private allocation not used can be gifted or rented privately to friends. Alternatively, it can be rented out and the rental profit would be due solely to that investor.
* Additional short-term access to the riad on a room by room basis when bookings allow
This model of ownership would not suit everyone. For example, it is probably not an arrangement for those looking for a place in the sun to enjoy long stays during retirement. However, for those that do not have extended periods of holiday time available collective-ownership is a new concept worth investigating.
The benefits of collective-ownership are not simply having a large luxury property to enjoy your holidays. Other considerations would include:
* The live-in management team means the property is clean and ready the moment you step through the door - no long list of ‘opening-up’ duties required - cleaning, dusting, pool-clearing, laundry sorting, fridge stocking etc etc. You can just relax from the moment you arrive.
* No need to spend the last few days of your holiday ‘closing-down’ the property either - you just walk out the door and cleaning/maintenance duties are all taken care of.
* The property is occupied, cleaned and maintained in your absence so you do not need to worry about security at an empty property.
* No need to navigate Moroccan bureaucracy, or the local administrative system - all that is taken care of by the staff.
* Maintenance costs are split and shared across all owners
* Easy holiday rental infrastructure. Both marketing and staffing are already in place for any of your weeks that you don’t want to use the house. You then receive the profit generated from that weeks’ letting.
* Shares in the property and business can be sold at any time
* It is a great resource for companies that might use the property for staff or client entertaining or incentives, without the need for in-house management or organisation - the property is very well maintained and beautifully decorated and the staff team are extremely reliable and well experienced in corporate entertainment.
For more information on collective-ownership please do get in touch. We would be very happy to talk through the details of this particular arrangement and answer any questions you may have. Please just send us an email or give us a call.
Located in the heart of the sought-after, ancient Medina, this beautiful 6-bed Riad is a short stroll from the world-famous souks. The Riad is currently run as a successful boutique hotel, with an excellent reputation and a 5-star rating.
The Riad has been beautifully renovated, using traditional Moroccan materials and techniques.
The style and decor strike the perfect balance between the contemporary and the traditional and there is an overwhelming sense of calm as soon as you step through the front door.
On the ground floor there are the two beautiful courtyards with well-established plants, tiled floors, plunge pool and the cool and serene ‘bhou’ (Moroccan for chill out area). There is also a cosy salon with a log fire and a guest bedroom, a triple, often used for children or teenagers. The staff facilities (kitchen, bedroom etc) are also located on this level.
The remaining five beautifully decorated ensuite bedrooms & suites and a number of quiet, shady seating areas are on the first floor. Each room is unique and, as expected with luxury boutique accommodation, elegant, private and comfortable.
The best space to make the most of the warm Moroccan evenings is up on the roof terrace where you can relax enjoy the uninterrupted views across the rooftops to the Atlas mountains beyond. The terrace is very large, with plenty of space for a large shaded dining table and sun loungers. The hammam/spa is also on the roof terrace.
In the corner of the roof terrace is a spiral staircase up to the ‘turret terrace’ which is the ideal spot to enjoy a cocktail as the sun goes down.
The fixtures and fittings and much of the furniture are included with the sale. The staff currently working at the fully-licensed Riad are extremely professional and well regarded by local suppliers and guests alike. The new owner could inherit an up and running business and run it in its current arrangement - a fabulous staffed holiday home that more than pays for itself. Or, if you are looking for a more commercial enterprise, the owners say that there is a lot of potential to develop the business further.
Marrakech never fails to mesmerise all the senses - exotic sights, sounds and smells around every corner. The city has great style, be it the opulence and luxury of the spas and hammams, superb restaurants, verdant gardens and beautiful architecture or its sense of heritage and hospitality.
The medina is unique, soaking up the atmosphere of the souks during the day and strolling around the main square at night to see the traditional musicians, dancers, story tellers and food stalls is all part of the experience.
The city is an ideal base to explore the Atlas Mountains an hour to the south, the desert to the east and the coast to the west. Marrakech is a short flight from the UK, just 3hrs from London, yet it feels like a completely different world.
Airconditioning: In the bedrooms
Distance to shops: Walking
Distance to airport: 15mins
Please note: All locations and sizes are approximate. La Résidence Maroc has made every effort to ensure that the details and photographs of this property are accurate and in no way misleading. However, this information does not form part of a contract and no warranties are either given or implied.