Bank Repossession Unfinished Villas Albufeira Algarve

Price:
€18,900,000
Type:
Plots+Ruins
Area:
Albufeira
Region:
Central Algarve
Country:
Portugal
Plot m2:
64917
Features:
Own Garden , Shared Gardens , Country views , Guest Annexe/Apartment , New property
Reference:
mpo_3041
Bank Repossession Unfinished Villas Albufeira Algarve
Bank Repossession Unfinished Villas Albufeira Algarve is a large development located at shoert distance from the beach in Albufeira Algarve. The development is in need of a renewed construction project approval as the old one expired in 2012. The project includes a 5 star hotel unit with 111 rooms distributed over 6 floors, SPA, Conference Center, restaurants and shops; 50 townhouses, of which 24 are type V2 and 26 type V3. The third section corresponds to the Sports Center, still under design.

Hotel :

- set in a plot of 12,120m2 and with a construction index of approx. 68% with an area of 3,390m2
- 111 rooms, SPA, Conference Center, restaurants and shops

50 Townhouses :

- 24 are type V2 and 26 type V3
- 28% finished, but represent 11,314 m2 of gross construction area
- club house with 662m2 of gross construction area

Sports Center:

- still under design

*The energy rating for this property is: TBC

Albufeira is a main tourist destination, due to its coastal location and is within close proximity of Paderne Castle. Lagos is located 30 kilometres to the west, and Faro International airport 40 kilometres to the south-east. A tourist destination, owing to the number of hotels and lodgings in the district, that includes marina facilities, golf courses, restaurants and bar for the annual flood of visitors.


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