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• 4 Star Apart Hotel • 2 Blocks overlooking the beautiful beach of Sesimbra about 30 min drive south of Lisbon city and Lisbon Airport
This very high quality building was built in 1993 to a very high standard and traded as a 4 star apart hotel until 2003, when it ran into difficulty and has remained closed since.
It has now come on the market with an asking price of € 20 million, but we think it can be bought for less with a quick sale (€17-€18million)
It is in need of some cosmetic refurbishment (painting, cleaning, new internal doors and internal timber work). The wiring, plumbing and roof are all in good repair.
Sesimbra is on the Blue Coast of Portugal, a beautiful part of Portugal with a very high standard of accommodation. Lovely hotels and apartments cater for the high end of the tourist market. Sesimbra is a beautiful area that is undergoing a massive development programme at the moment with the town council very much to the fore.
This project consists of an apart hotel, with 179 apartments all with full or partial sea view. The premises is on a plot of approx 11,500m2 and built area of 20,232m2 with underground car parking for 90 cars.
It has a large reception area, swimming pool with large deck area, indoor tennis court, squash court and gym. Restaurants, kitchens, outside eating area, bars and a number of meeting and conference rooms.
As the building is built on an elevated site it can never be overlooked due to the size of the building and it being divided in two separate blocks. There are a number of projects it could be turned into; for example one block as a high class hotel and the other block as an apartment block.
As we are involved in other projects in the Sesimbra area, we have established good contacts with engineers, solicitors, town council, banks and financial advisors.
