Unique 14 bedroom Estate for sale with countryside view in Colares, Central Portugal
This superb estate combines residential use, income generation and future value appreciation potential.
The main house is the central element of the property, offering 209 m2 of private gross area and 190 m2 of terraces, with a functional and well-balanced layout.
On the ground floor, there is a spacious living room with integrated dining area measuring over 68 m2, an office, kitchen, storage room, guest bathroom and well-distributed circulation areas.
The...
This superb estate combines residential use, income generation and future value appreciation potential.
The main house is the central element of the property, offering 209 m2 of private gross area and 190 m2 of terraces, with a functional and well-balanced layout.
On the ground floor, there is a spacious living room with integrated dining area measuring over 68 m2, an office, kitchen, storage room, guest bathroom and well-distributed circulation areas.
The first floor features a suite of over 26 m2, with access to a terrace overlooking the entire property, two bedrooms of 16 m2 and 18 m2, a supporting bathroom and additional circulation areas.
Outside, the house benefits from a private swimming pool and an entrance area with parking space. In addition, the estate includes five independent apartments (three two bedroom units and two one bedroom units) as well as two suites, all with independent access.
Maintenance and renovation works have been carried out over the years, enabling an active short-term rental operation, currently comprising seven units in operation.
There is also additional upside potential, through three further one-bedroom units already renovated externally, which can be completed internally to increase income capacity.
The property also offers a comprehensive set of support facilities, including a large multi-purpose room, wine cellar, games room with two bathrooms, a shared swimming pool for the apartments, a gym area, laundry room and technical areas.
Located in Colares, a historic village set within the protected landscape of the Sintra Natural Park, the estate enjoys a unique natural setting, with the Atlantic Ocean as its backdrop, close to Cabo da Roca.
It is 2 minutes from the village centre, 4 minutes from Praia Grande, 10 minutes from access to the A5 motorway, and approximately 40 minutes from Lisbon.
This property represents a strategic opportunity for a buyer seeking a scalable asset with flexible use and clear value creation potential, either through optimisation of the tourism operation or through repositioning into a smaller-scale, higher-value residential or hospitality concept.
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This Estate is located in Colares in Portugal
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Buying a Property in Portugal
1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.
2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.
3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.