Located next to the prestigious Albufeira Marina, this building presents an interesting opportunity for rehabilitation and development

Albufeira, Portugal

For Sale

€2,625,000

REF: 995234 €2,625,000


9

6

1988

Description

Located next to the prestigious Albufeira Marina, this building presents an interesting opportunity for rehabilitation and development. Comprising a restaurant on the ground floor and four flats on the upper floors, it offers wide and privileged views over the marina and the ocean. The property is in a state of repair that requires significant intervention.

The restaurant, which seats 76 people, is in need of complete refurbishment, but offers a good basis for developing a new gastronomic concept in a place with high tourist traffic. On the upper floors, there are four flats - one 3-bedroom and three 2-bedroom - which require complete renovation. With the right refurbishment, these spaces could be converted into mid- to high-end local accommodation units or long-term rental flats.

Its location, just a few steps from the marina, the beaches and various services, makes this property particularly attractive to investors looking for a project with a margin of appreciation in the medium term. CHARACTERISTICS:Useful area: 562 m2 | 6 049 sq ftDeployment Area: 275 m2 | 2 960 sq ftBuilding Area: 562 m2 | 6 049 sq ftBedrooms: 9Bathrooms: 6Garage: 1Energy efficiency: BFEATURES:Building Restaurant 1 flat - 3 bedrooms 3 flats with 2 bedrooms each Investment opportunity Internationally awarded, LUXIMOS Christie's presents more than 1,200 properties for sale in Portugal, offering an excellent service in real estate brokerage.

LUXIMOS Christie's is the exclusive affiliate of Christie s International Real Estate (1350 offices in 46 countries) for the Algarve, Porto and North of Portugal, and provides its services to homeowners who are selling their properties, and to national and international buyers, who wish to buy real estate in Portugal.

Our selection includes modern and contemporary properties, near the sea or by theriver, in Foz do Douro, in Porto, Boavista, Matosinhos, Vilamoura, Tavira, Ria Formosa, Lagos, Almancil, Vale do Lobo, Quinta do Lago, near the golf courses or the marina. LIc AMI 9063
Located next to the prestigious Albufeira Marina, this building presents an interesting opportunity for rehabilitation and development. Comprising a restaurant on the ground floor and four flats on the upper floors, it offers wide and privileged views over the marina and the ocean. The property is in a state of repair that requires significant intervention.

The restaurant, which seats 76 people, is in need of complete refurbishment, but offers a good basis for developing a new gastronomic concept in a place with high tourist traffic. On the upper floors, there are four flats - one 3-bedroom and three 2-bedroom - which require complete renovation. With the right refurbishment, these spaces could be converted into mid- to high-end local accommodation units or long-term rental flats.

Its location, just a few steps from the marina, the beaches and various services, makes this property particularly attractive to investors looking for a project with a margin of appreciation in the medium term. CHARACTERISTICS:Useful area: 562 m2 | 6 049 sq ftDeployment Area: 275 m2 | 2 960 sq ftBuilding Area: 562 m2 | 6 049 sq ftBedrooms: 9Bathrooms: 6Garage: 1Energy efficiency: BFEATURES:Building Restaurant 1 flat - 3 bedrooms 3 flats with 2 bedrooms each Investment opportunity Internationally awarded, LUXIMOS Christie's presents more than 1,200 properties for sale in Portugal, offering an excellent service in real estate brokerage.

LUXIMOS Christie's is the exclusive affiliate of Christie s International Real Estate (1350 offices in 46 countries) for the Algarve, Porto and North of Portugal, and provides its services to homeowners who are selling their properties, and to national and international buyers, who wish to buy real estate in Portugal.

Our selection includes modern and contemporary properties, near the sea or by theriver, in Foz do Douro, in Porto, Boavista, Matosinhos, Vilamoura, Tavira, Ria Formosa, Lagos, Almancil, Vale do Lobo, Quinta do Lago, near the golf courses or the marina. LIc AMI 9063
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Property on Map

#1LS02225

Currency Exchange

Albufeira, Portugal

Interested in this property? Don't lose out to currency fluctuations changing the price you pay...

Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.

The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €2,625,000 property cost you?

Property Price € Minimum cost in the last six months Maximum cost in the last six months Fluctuating exchange rates over the last six months could have increased the cost of this property by
€2,625,000 £2,166,806 £2,278,736 £111,930
Property Price € €2,625,000
Minimum cost in the last six months £2,166,806
Maximum cost in the last six months £2,278,736
Fluctuating exchange rates over the last six months could have increased the cost of this property by £111,930

Albufeira, Portugal

Interested in this property? Don't lose out to currency fluctuations changing the price you pay...

Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.

The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €2,625,000 property cost you?

Property Price € Minimum cost in the last six months Maximum cost in the last six months Fluctuating exchange rates over the last six months could have increased the cost of this property by
€2,625,000 £2,166,806 £2,278,736 £111,930
Property Price € €2,625,000
Minimum cost in the last six months £2,166,806
Maximum cost in the last six months £2,278,736
Fluctuating exchange rates over the last six months could have increased the cost of this property by £111,930

The exchange rate on the day you make an offer on your property in Portugal will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.

The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.

This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £111,930 more.

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