Excellent investment opportunity to start a hospitality business. Ruin with approved project for a 9-bed guest house in the historical centre of Portimão. 10% discount on the purchase price until February 28, 2021

Investment opportunity - ruin with approved project for a 9-bed guest house

Portimão - historical centre

The existing two-storey building with a current built area of 332 m² (footprint: 166 m² ) on a 236 m² plot is located in the historical centre of Portimão within the offical urban rehabilitation area, close to the Arade river and numerous bars, restaurants, cafés, the magnificent Alvor beach as well as to several golf courses. Faro airport can be reached within 40 minutes by car.

This building has an approved project for a two-storey guest house/ B&B comprising of 11 en-suite bedrooms plus one separate 2-bedroom apartment (designed by “Architecture & Project Management Studio Arte”), a patio interior area and a nice rooftop area with lots of space and diverse opportunities, like e.g. a plunge pool or a covered outdoor breakfast area. As it is located in the official urban rehabilitation area, the building benefits from 6% VAT and an exemption from the property tax (IMI) during the first 5 years subsequent construction.

This is an excellent investment opportunity to start a hospitality business. In order to get to know more details and to have a look inside the plans, you are welcome to book a meeting with us.

"Excluded from the EPC (Energy Certificate), under the terms of paragraph g) of article 4 of Decree-Law no. 118/2013, of 20 August"

- REF: C30061