Commercial Property for Sale in Portimao

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€1,400,000 EUR

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Ref 2108053 | Portimao, Faro | Business

Currency services provided by PureFX 1,400,000 EUR  |  Approx.£1,205,540 GBP  |  Approx. US$1,498,280 USD
Vila Nova de Milfontes, Portimao, Faro
  • Type: Commercial Property
  • Location: Portimao
  • Province: Faro
  • Country: Portugal
  • Bedrooms: 11
  • Bathrooms: 11

This is a fantastic opportunity to purchase an aparthotel in the picturesque seaside town Vila Nova de Milfontes.With existing revenue and adjacent plots for development. Milfontes nestles within the the Coastal Natural Park and internationally marketed walking and cycling routes pass through the area. Comprising 3 plots: Plot 7: - An apart hotel with 4 floors, total 339 m2. - Comprised of 2, 3 and 4 bed apartments - a total of 25 beds. - Yearly turnover circa 75,000€ Plot 8: - 2 bedroom bungalow of 119 m2 - Garden and land totalling 909 m2 - separate road access - currently being used as a breakfast/social room Plot 6b: - Building plot adjacent to hotel with area of 550 m2 - separate road access Vila Nova De Milfontes is a charming town that is situated on the western edge of the Alentejo coastline partway between Lisbon and the Algarve. Surrounding Milfontes is a stunning coastline of rugged cliffs and sandy beaches, both of which are constantly pounded by the ferocious Atlantic Ocean. Vila Nova De Milfontes has been developed in a responsible manner, there are no major apartment blocks engulfing the coast, everything still retains the Alentejo small town atmosphere. This lack of development has extended to the regions beaches where as in any other country there would be mass tourism in Milfontes the coastline is wild and rugged. The beaches are ideal for surfing or body boarding due to the massive swells that originate from the Atlantic Ocean.

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