Location: Algarve, Portugal
Name: TBA – Flag Free
No. of Keys: Hotel: 40…. Apartments: 230 x 4-beds
The Property: Thus far the asset contains a 18-hole golf course, which has been in operation since 2009, with a Club House, swimming pool, four villas, seven apartments and four apartments blocks. There is an option, with planning consent/building permits to add-on a 40-room hotel and tourist housing of 232 units with 920 beds.
The size of the plot is 1.7m sq. mtrs, of which 246,090 sq. mtrs can be built on and the remaining 1.45m sq. mtrs will remain as green land, which includes the golf course and other scenic vistas.
An Urbanization Plan has been secured.
The property is 10 km to the coast/sea
The owners are looking to sell the investment as is and move on to other projects. This project is held in a SPV.
Main Photo: The golf course opened in 2009
Current Owner: Private company
Yield/Financial: Figures can be made available after signing of NCNDA
Guide Price: €21.5m until the end of August…price might raise after that
Agent: Real Estate Sourcing, Portugal in partnership with THPT
Date Posted: August 2019
THPT Comment: A fabulous project that could be very exciting for an investor to get involved at this early stage
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.