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Guest House In The Algarve, Portugal For Sale

Santa Barbara de Nexe, Faro
Asking Price:
€725,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
Under €100K
Cash Flow:
Under €50K

Beautiful fully enclosed property with mature garden and swimming pool on the outskirts of Santa Barbara de Nexe in the Algarve. Two storey property with three bedroomed, three bathroom, very spacious owner's flat on the upper level and four independent, air-conditioned, self-catering flats for holiday rentals on the ground floor. There is a very large, fully enclosed mature garden and a large swimming pool and games room for guests. There is a large forecourt with an automatic gate, with parking spaces for six to eight cars. There is a "project-in-waiting" also included, with a typical Algarvio cottage to be developed and converted. The property is fully licensed, and registered as Alojamento Local, and recently passed inspection. Copies of reviews can be provided on request. It is ideal for a couple or young family wishing to live in the Algarve and have a source of income at the same time. The cities of Faro and Loulé and the beaches are only a 10 minute drive away. There is definite potential to increase the income.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

The owner's flat ( on the upper floor), has three large bedrooms; two with en-suite bathrooms. There is a large living room with fire place, a dining room, a large kitchen, a large outdoor terrace overlooking the pool, and a large hallway.

Location:

On the main road between Faro and Santa Barbara de Nexe. Freguesia: Santa Barbara de Nexe; Districto de Faro, Algarve, Portugal

Premises Details:

Two storey building located on 4000 square metres of land; owner's flat and four self catering flats for holiday rentals. It has its own borehole, providing free water all year round.

Size in square feet:
4000m2
Planning Consent:

The property is fully legal and licensed.

Business Operation

Expansion Potential:

There is an algarvio cottage included on the property which can be developed into further self catering flats, or a small larger cottage. There is an attic on the top floor, which can also be extended and developed into a further flat (with amazing views)

Competition / Market:

None

Reasons for selling:

We bought the property in October 2017, and relocated from Switzerland to fulfil our dream of living in the sun. After three months, despite loving the place and the Algarve, we decided to return to Switzerland for family reasons. It is now being tended by a member of the owner's family for the interim.

Trading hours:

At the owner's discretion

Employees:
0
Years established:
Since 2007

Other Information

Support & training:

Upon request, up to a week to explain all the details

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

We would be open to a staged sale, depending on the circumstances of the interested buyer.

Furniture / Fixtures value:
€70,000 - included in the asking price
Related Documents:
Home based:
This business can be run from home.

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