39 bedroom Estate for sale with countryside view with Income Potential in Guia, Algarve
The project is to build a rural hotel of generous dimensions and a truly unique character, where the tranquillity of the countryside harmonises with exceptional tourist potential.
Located near Albufeira, in the village of Guia, Algarve, this farm stands out for its natural surroundings and privileged position. The farm has a set of infrastructures already in place, allowing the immediate continuity of the activity and, at the same time, offering a solid foundation for the expansion or redefinition of the existing concept.
The property includes a com...
The project is to build a rural hotel of generous dimensions and a truly unique character, where the tranquillity of the countryside harmonises with exceptional tourist potential.
Located near Albufeira, in the village of Guia, Algarve, this farm stands out for its natural surroundings and privileged position. The farm has a set of infrastructures already in place, allowing the immediate continuity of the activity and, at the same time, offering a solid foundation for the expansion or redefinition of the existing concept.
The property includes a comprehensive set of structures and equipment that support both agricultural activity and internal logistics, giving the property an unusual versatility. This diversity makes it easy to accommodate tourism, wellness and agro-tourism projects or even the creation of an exclusive retreat. The rural hotel project envisages a total construction area of 2,000 m2, spread over three separate blocks.
The hotel will have 39 accommodation units, a dining room, a living room with bar and living room service, outdoor parking and a covered garage, large communal outdoor areas, a swimming pool and a children's area - a complete offer designed to guarantee comfort, functionality and a differentiating experience for future guests.
The location offers the perfect balance between privacy and accessibility, with easy access to the beaches, Guia town centre and the city of Albufeira.
Due to the size of the property, the existing infrastructures and the multitude of possibilities for exploitation, this quinta is a unique opportunity for investors looking to develop a distinctive project in the Algarve.
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This Estate is located in Guia 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.