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Location - Tangier Overview
Tangier stands as Africa’s foremost gateway, marking the primary juncture between Europe and the African continent. Beyond its status as a top-tier tourist hub in the region, Tangier has cemented itself as Morocco’s second-leading industrial epicentre, only surpassed by Casablanca.
Owing to its geographically strategic placement, Tangier is not merely a resort city but also possesses Africa’s most expansive port infrastructure. This position has propelled the city into becoming an integral economic nexus for the entire African continent. The establishment of pivotal infrastructures, such as the Tangier Med Port, Free Zone industrial locales, extensive highway networks, and high-velocity rail lines, underscores its role as the primary portal to both Morocco and the broader West African region.
There’s been a noticeable surge in demand for upscale residential properties alongside accommodations for the expanding workforce. Testament to Tangier’s escalating business relevance is the blossoming of luxurious hotel chains and resorts, including renowned names like Hilton, Kenzi, Holiday Inn, Sofitel, Movenpick, Sol Azur, and Cezar, to name a few. These establishments are strategically poised to cater to an influx of both domestic and international business travellers, complemented by the burgeoning leisure and cultural tourist segment.
Investment Rational
- Brand Penetration: International operators increased presence and interest in Morocco will further cement the country as a strong business and leisure destination.
- Road Infrastructure: The road network to the Property is strong and is well connected to all motorways in and out of the city, as well as being positioned strategically within the business district.
- Regional Growth: Sustained economic growth in Morocco is creating a strong middle-income class demand segment that the Property can target.
- Regional Airlift: Morocco’s access to Europe and the Middle East has improved with additional regional flights in and out of these key destinations.
- Stability: Morocco by extension is politically stable, with a Government of national unity between them.
- Support: Morocco’s Government has sustained tourism investment, driven by the sector’s significant contribution to the country’s foreign exchange and employment.
Ownership and Legal Information
| Information | Details |
| Owner | Somatour SARL |
| Seller | Somatour SARL |
| Method of Sale | Asset Sale |
| Sector | Hospitality |
| Operator | Vacant Possession |
| Property | Currently a 100-key hotel with expansion rights for additional 71 keys and 51 apartments. |
Hotel Amenities
Fully serviced hotel – The hotel will boast a range of luxurious amenities such as a spa, business centre, fitness centre, and two pools. These facilities will be instrumental in drawing month-long stays, catering to ex-pats and business travellers looking for apartment-hotel accommodations.
SPA – The spa, inspired by Moroccan Hammams, will blend tradition with modernity, offering a comprehensive menu and unparalleled relaxation. Open to both guests and the public, it will serve as an additional revenue stream for the hotel.
Business Centre – Business travelers are a primary market for our hotel. The business centre, catering to the modern trend of remote work, should be spacious and professional, allowing multiple guests to simultaneously use amenities like Wi-Fi, printers, and video conferencing.
Concierge/local transport – The concierge will foster local partnerships and guide guests, regardless of their stay length, to Tangier’s highlights. Securing an adept concierge is HR’s priority, offering extended services for long-term guests and handling local transport, ensuring competitive rates.
Fitness centre – The hotel will feature a 24-hour gym for guests, apart-hotel, and monthly renters. Regular cleanliness checks will be ensured, and additional spaces for yoga and other wellness classes will be available for rent.
Pools – The existing structure boasts two pools, one being child-friendly. These will be upgraded for premium relaxation, offering poolside dining and cocktails. Nestled within the hotel grounds, they ensure guest privacy and enhance the overall experience.
F & B Offering
The hotel will offer diverse dining options, including a three-meal restaurant, a takeaway café, and a high-end Moroccan-themed dinner venue, all catering to international tastes. An upscale lobby bar, exclusive nightclub, and various in-between dining spots enhance guest experience. With comprehensive catering services, the hotel is primed for events like weddings and business meetings. Given its proximity to Spain and Morocco’s appeal to Europeans, event hosting is anticipated to significantly boost hotel revenue.
- Moroccan Cuisine/traditional restaurant – This restaurant will offer premium Moroccan dishes for lunch and dinner, with a seating capacity of 300 people.
- Hotel 3-meal international cuisine and in-room dining – The primary hotel restaurant, catering to breakfast, lunch, and dinner, also provides in-room dining for guests and has a seating capacity of 300 people.
- Grab-and-go café – This café offers quick bites, coffee, and tea, with limited seating mainly near high-traffic areas like the lobby. The menu blends traditional and Moroccan snacks.
- Night club – The nightclub, infused with a Moroccan and early-evening jazz vibe, transitions to popular music as the night progresses. It can accommodate both live and recorded music.
Sales Process
This property is being sold by way of a Private Tender process under a Sole Mandate with CBRE Excellerate.
Interested parties will have access to the Property Brochure and NDA on registration on the CBRE-X online website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
The price offered.
Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
Conditionality of the offer and timeline to conclude the deal.
Disclaimer
The website provides information about properties but does not guarantee its accuracy. Users access the site at their own risk and should seek professional advice before making any decisions based on the information provided. Property descriptions are general and do not constitute an offer or contract. All details are believed to be correct but should be verified by users.
The company and its employees do not make any representations or warranties regarding the properties. Prices quoted are exclusive of taxes. The information on the website may contain errors, omissions, or may change without notice. Users should conduct their own investigations before making any investment decisions. The information provided should not be considered financial or investment advice.
Any information given by the company or the vendor is for illustration purposes only and does not constitute a representation, condition, or warranty. Users are responsible for conducting their own due diligence to verify the accuracy of the information provided.
