LOCATION - LOCATION - LOCATION - Beachfront Redevelopment Opportunity In Western Algarve
EXCLUSIVE - A unique business opportunity and/or redevelopment project located on the ocean front in the Lagos area of Portugal's Western Algarve region. The ultimate position for a boutique hotel, luxury apartments or upmarket hostel.
We are delighted to have been chosen by the owners to exclusively market this substantial investment property in the Lagos area of the beautiful Western Algarve region. This is a rare opportunity for the discerning investor or real estate developer to acquire a piece of real estate gold on the oceanfront in a popular tourist destination on Portugal's Algarve coast.
This frontline resort boasts a prime position just 20 metres from the easterly end of a Blue Flag beach in the centre of a desirable upmarket resort, close to all restaurants, cafes, bars and shops. This unrivalled location offers many profitable opportunities such as Luxury Apartments, a Boutique Hotel with Restaurant, Roof Top Bar and Swimming Pool. The Townhouses could be converted to an upmarket hostel, which as of this moment do not exist in the resort. The possibilities are endless!
Currently a Tourist Complex with a good rental record and high level of repeat clients this property has been owned and operated by the same family for 35 years.
The accommodation consists of:
5 x T0 Apartments (Studio) 5 x T1 Apartments (1 bedroom) 8 x T2 Apartments (2 bedroom) 2 x T3 Apartments (3 bedroom) 2 x T5 Townhouses (5 bedroom)
In addition there is a good sized secluded private pool area with surrounding terrace, a poolside bar/shop, 3 offices, a laundry area plus a restaurant area currently used as a storage room. The complex also has two separate buildings on two adjacent plots.
The area is a popular holiday destination, offering great rental potential, but also has a warm community of locals and multi-national expatriates throughout the year. There are many excellent restaurants in the area, plus bars, cafes, shops and supermarkets. All local facilities and amenities are on your doorstep.
For golf lovers there are many great courses within a short drive such as Boavista, Espiche, Santo Antonio, Pestana and Penina.
There are many forms of entertainment and activity locally such as watersports, walking, sailing and cycling. The area also boasts many historical buildings and museums. There are 2 popular water parks within a 30 minute drive and markets, art galleries and cinemas open throughout the year.
The International Airport at Faro can be reached in less than 60 minutes by car and the cultural Portuguese capital of Lisbon is just under a 3 hour drive.
This property delivers a magnificent development opportunity in a prime real estate position of one of Europe's most popular tourist destinations.
Contact us for more information or to arrange a viewing of this property.