Frontline Beach Resort For Sale, Superb Redevelopment Project In Western Algarve
Unique Western Algarve ocean front beach resort for sale in the Lagos area, just 20 metres from the beach. Prime investment opportunity as a development project to a boutique hotel or luxury apartment complex.
This small holiday complex currently consists of a selection of apartments and townhouses, it's own restaurant and kitchen, plus a secluded pool with large terrace area and a poolside bar.
Situated only 20 metres from a popular Western Algarve beach in the Lagos area, this property is a prime investment as a functional business or is perfect for redevelopment to a luxury apartment condominium, or a boutique oceanfront hotel. Currently the property provides studio apartments, plus 1, 2 & 3 bedroom apartments and townhouses giving 42 bedrooms and 32 bathrooms in total. There are also 5 commercial areas.
The tourism business in the Algarve region of Portugal remains strong with hotels at almost 100% occupancy this Easter 2019. Tourism related income in the Algarve was €1.08 billion in 2018, up by 4.7% compared to 2017. Faro International Airport handled close to 8.7 million passengers last year, and the number of golf rounds played on Algarve golf courses topped 1.3 million.
This unique opportunity to invest and develop a prime piece of property in one of the most popular Algarve coastal resorts should not be missed!!
Please contact us for more information. Confidential sale - principals only.