Land for sale
Praia da Luz, Praia da Luz, Algarve, Portugal
£2,401,372 *
[€2,800,000]
Full Description
A fantastic business opportunity on a piece of land in an excellent location near to Praia da Luz and a few Kms from Lagos. The Golf Courses of Espiche, Boavista, Palmares and Parque da Floresta are close by and supermarkets, bars and restaurants are just minutes away from the property. Panoramic Ocean and country views as well as a fantastic view over the town of Luz can be had from this plot of land of 56.620 Sqm. The project already has a building that can be refurbished or if required demolished and started again.
Viability for building a 4 Star Hotel and 16 Villas is in place. The existing project consists of a 3-storey building plus a basement for parking and other technical services. Swimming pool, SPA, lounge Piano Bar, leisure Rooms, restaurant and communal areas are also included in the project. The Hotel has a capacity of 116 rooms corresponding to 228 beds. Fantastic Investment opportunity. - REF: T/04929
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