Location: Santa Cruz, part of Santiago do Cacem, Alentejo, Portugal
Name: Open to Buyer…Working Title: Hotel 110 Alentejo
Guide Price: Investment or Outright Sale: €5m+
No. of Keys: 18 Suites
The Opportunity: Our client owns the plot of land, of around 6.4 hectares in size, with a construction size of 1,830 sqm. The planning licence is to build a boutique 4* hotel with 18 suites, common areas, restaurant, bar, small meeting room, terraces, pool, fitness centre and other sports facilities.
There will be three room types: Standard Suites: Four in the main building, 47 sqm; Deluxe Suites; Twelve in lodges, 67 sqm, half of them with private plunge pools and two bedrooms; Two further Suites in the main building, 67 sqm. All will have separate lounge areas.
The idea is to construct an intimate resort, incorporated in the nature of Alentejo, where clients can enjoy health, fitness & yoga retreats. They planned to finance the project through an application of subventions P20/20, but due to Covid-19 it is unclear if these funds will still be available and hence why the owner is looking for alternative forms of finance.
The cost of the land is €1m and construction will be around €3m, plus interior fittings and the owner is looking either for investors or a outright buyer. Building can commence straight away and should take around 18 months to opening.
The site is 14 km from the sea (Santo Andre), and 130 km south of Lisbon/Airport. Faro airport could also be used.
The owner’s vision: “Small Resort celebrating the natural splendour and climate of the
open rolling plains that Alentejo is famous for… The Resort will invite nature in and frame the natural surroundings…Luxury is in the Simplicity ”
Blending with and into nature, both the aesthetic side as well as the technical part: ecological
construction, self-efficient, renewable energy, isolation:
– Furniture will be accessories and will only come to sublime the architecture and nature
– Solar panels to supply the hotel with electricity
– Electric charging for cars
– Timeless architecture
– 4 Seasons resort, attractive in the summer and then again in the winter.
The Costa Vicentina, Portugal’s most south-westerly point, is the fastest growing area in tourism in Portugal with hotspots being Comporta and Melides…. an ideal holiday destination as the area emphasises nature, eco-chic, cuisine with local grown ingredients. KV
Main Photo: The plot of land secured
Flag and Management: Free for new owner to choose
Financials: Updated Business Plan due to be published July 2020
Current Owner: A local Portuguese family/company – two partners, one of which is an interior design man.
Guide Price: €5m+, as open, subject to the final cost of the finishes
Date Posted: June 2020
THPT Comment: A great opportunity to secure this wellness centre with boutique hotel…either buy now and do your own thing, or let the originator complete the project and acquire it on opening.
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”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
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.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.