530m2 built area,
plot size 6722m2
Outstanding business opportunity for a discerning investor or investment consortium to add a unique and emblematic commercial property to their portfolio and increase market presence and visibility. This successful multi-faceted business is housed in one of the most incredible examples of real estate to be found anywhere. Located in the Canary Islands; part of the Macaronesian archipelago where Europe and Africa meet across a brief span of the Atlantic Ocean. As a result of their location they have historically been considered a link between four continents – Europe, Africa, North America and South America.
The island of Lanzarote is known around the world as being the birthplace and creative playground for the visionary artist and sculptor Cesar Manrique. His influence is still vibrantly visible in the architectural and artistic heritage found all around the island and a superb example of this is LagOmar.
From 1968 Cesar Manrique worked in close collaboration with the architect/builder Jesus Soto; together they played an important part in the way that the island developed. Soto was strongly influenced by the volcanic, wild, rugged nature of Lanzarote and this formed an integral part of his style of architecture. In his way he helped create a sustainable balance between respect for nature and the rapid rise of touristic development on the island. Over 50 years ago Jesus Soto was entranced by an old quarry set in the hillside of Nazaret and the idea to build a house there was conceived by Cesar Manrique and designed and built by Soto. The house was built on different levels with magnificent views and with its exposed stone walls and white washed concrete was reminiscent of the tale of ‘One Thousand and One Arabian Nights’.
Hollywood actor Omar Sharif fell in love with the property and bought it whilst filming the Jules Verne classic ‘The Mysterious Island of Captain Nemo’. Legend has it that he lost it in a game of Bridge, but ever since the house has been known as ‘Casa Omar Sharif.
In the late 80’s two architects bought the property and rebuilt the house and gardens respecting the existing organic architecture. Cesar Manrique himself gave them guidelines to follow. They later added a restaurant, cave bar, art gallery and ornamental lake. In 1997 this evolved into a cultural centre where art, music, fashion, history, gastronomy and nature could combine and LagOmar was born.
Commercially the LagOmar Museum is the jewel in the crown, with the other elements of the business including the newly re-opened restaurant, the cave bar, art gallery, private events, 2 apartments, film and photo production projects adding to the stability and success of the business. Run along similar commercial lines as today the property could be amortized within 10 years. Although, like the architecture itself, the ways to further enhance the commercial profitability of the property can be developed in a fluid and organic way dependent upon the vision and requirements of a new owner. Undisputedly there is scope for further growth to raise the already solid level of profitability.
Today the total property is comprised of 3 different zones:
Zone 1: Leisure and Hospitality area with the entrance, restaurant, cave bar, art gallery, gift shop, ornamental lake and gardens. Built area of 220m2 on a 3,061m2 plot. Mostly built in 2000.
Zone 2: Urban area – 310m2 constructed on a 2,202m2 plot. Includes ‘Casa Omar Sharif’, 2 apartments, private pool. Built in 1970
Zone 3: Urban area – 1,459m2 plot currently has 2 tennis courts. Subject to planning permission and licences this could be developed.
The Canary Islands benefit from a year round sub-tropical climate. With a flight time of between 2-4 hours from most major European cities they provide the perfect escape for those looking for winter sun, without the extended travel time. The islands are popular tourist hot-spots at all times of the year given the excellent flight connectivity. As a Spanish autonomous community tourist confidence is high and visitor numbers have remained stable for many years. Lanzarote is the eastern-most island of the archipelago.
LagOmar is located in the quiet area of Nazaret in the municipality of Teguise, set amongst the countryside and volcanic hills. The historic town of Teguise is a 5 minute drive, the capital of Arrecife is a less than a 10 minute drive as are the golden beaches and Golf Club of Costa Teguise. Given that the airport is less than 15 minutes away the logistics are excellent.
Please contact us for further details or to request a viewing. Following on from a meeting with potential investors (or their representatives) details regarding the business accounts, licences and touristic contract details may be requested.