3.050.000 €
An investment opportunity with high potential in the Algarve’s capital We are pleased to present an investment opportunity in the centre of Faro: a building intended for use as a hotel, currently undergoing refurbishment, with 30 suites spread over five floors ground floor, first, second and third floors, and a terrace. The transaction involves the acquisition of shares in the owning company, including the complete refurbishment of the hotel, scheduled for completion in January 2026, with the exception of the ground floor, which will be the responsibility of the future buyer. Customise the ground floor to suit your concept The ground floor offers the new owner the opportunity to develop the space in line with their strategy and identity. It could be adapted, for example, for: Reception; Lounge; Storage room; Bar; Restaurant; Or any other concept suitable for the project. This flexibility allows the investor to define the ambience and functionality of the communal areas in line with the positioning they wish to give the property. Terrace with sea views One of the property’s standout features is the spacious terrace with sea views, a space with the potential to create an exclusive outdoor leisure area. The terrace could be enhanced with facilities and features such as a hot tub, a relaxation area and a sunbathing area, creating an additional attraction for guests and contributing to a unique experience. Possibility of installing a lift However, there is space available for the installation of a lift connecting the ground floor to the terrace, which could enhance the property’s value in the future. Prime location in the historic centre of Faro The property is centrally located in Faro’s city centre, just a few minutes’ walk from the marina and various points of interest in the city. Faro, the capital of the Algarve, is benefiting from growing tourist demand and is renowned for its historic quarter, cuisine, shops, cultural heritage and ease of access. Nearby attractions include: Faro Marina; Railway station; Bus station; Restaurants and cafés with outdoor seating; A wide range of shops; Supermarkets; Theatre; Municipal Market; The city’s historic streets and districts. For visitors to Faro, the location allows for much of the city to be explored on foot, whilst also offering excellent transport links. Excellent transport links The railway station and coach station are approximately a 5-minute walk away, providing connections to various destinations across the Algarve and to Faro Airport. Faro International Airport is around 10 minutes away, making it easy for both domestic and international tourists to reach the city. Situated within an Urban Regeneration Area The building is situated within an Urban Regeneration Area (ARU) and may be eligible for the tax incentives and benefits applicable to urban regeneration, particularly in relation to property transfer tax (IMT), municipal property tax (IMI), personal income tax (IRS) and corporation tax (IRC), provided the relevant legal requirements are met. The property currently holds a licence for a guesthouse/residential establishment and has the potential to be adapted and operated as a boutique hotel or another type of tourist accommodation, subject to the relevant licences, authorisations and other applicable legal requirements. A project with a range of possibilities The combination of the central location, the 30 suites, the terrace with sea views, the possibility of installing a lift, the refurbishment already planned and the flexibility of the ground floor layout allows for the development of a hotel project with its own distinct identity. A particularly attractive option for investors seeking a property at an advanced stage of refurbishment, with the opportunity to customise the communal areas and define the development’s final concept. An opportunity to create a distinctive hotel in the city centre #ref:HOT_534-TR