Description complète
Building in Sintra of 1,240 m²
€2,400,000
€1,935/m²
1,240 m²
11 divisions
26 rooms
26 bathrooms
Apart Hotel to renovate with approved PIP
PROPERTY IN ITS CURRENT STATE:
The property consists of 2 side-by-side buildings and an open plot of land (backyard). The external load-bearing walls are in excellent condition. Renovation works started.
This property was acquired with an approved preliminary project (PIP) for the construction of 6 large residential apartments, an in-depth analysis of the business model was carried out. This analysis found an efficient way to improve the project considering the following:
SUMMARY OF THE BUSINESS CONCEPT: Reconstruction of existing properties into Apart Hotel, consisting of 26 independent units (apartments and commercial spaces) for separate sale to small end investors. Additional revenues are also expected from the operational management of the property and related businesses. The characteristics of the investment project are high profitability and ease of future resale.
Prime Location: Located in the historic center of Sintra, this property represents a strategic investment choice, maximizing its global appeal.
Sustainable Tourism Growth: The local tourism industry is popular with more than 5 million tourists a year and growing every year. This provides investors with the guarantee of lasting allure and sustained returns.
Exclusivity: There is only a finite amount of real estate in the historic center and it is protected by regulations that restrict development. This limits the supply of new properties and makes existing properties more valuable. The demand for properties in the historic center is also high, which drives up prices even further. As a result, properties in the historic center are highly sought after and exclusive.
Accommodation Deficit: The ongoing shortage of tourist accommodation presents a lucrative niche market for investors, ready to satisfy this demand.
Interest of the Municipality: The municipality supports the recovery of the historic center of Sintra (ARU zone), and offers tax benefits to developers (6% VAT instead of 23%).
Untapped Area Potential: This property offers significant untapped potential as its previous design underutilized existing space. By exploring the unused area, but maintaining the same construction volume, the investor significantly increases the project's ROI.
Ideal Business Model: Short-term rentals in this prime location generate the most revenue per square foot, making it a profitable and sustainable investment. Furthermore, dividing the property into smaller units increases financial flexibility and reduces risks.
NEW PROJECT:
The new project involves the comprehensive reconstruction and remodeling of an ApartHotel building with 22 small individual apartments and 4 commercial spaces (26 units), respecting the construction volume and height of the previously approved project (PIP). The project is ready to be submitted to the Municipality's analysis and approval process.
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