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Boutique Hotel In Lagos For Sale

Lagos, Faro
Asking Price:
€1,799,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
€250K - €500K
Cash Flow:
€100K - €250K

Located on the Meia Praia beach in Lagos this amazing place is just stones throw away from the water. Ideal place for boutique hotel or bed and breakfast with very close proximity to the beach. Currently operated as a spa and restaurant with possibility to spend a day near the pool with excellent selection of food and drinks. Owner has applied for a conversion project into 17 bedrooms boutique hotel with exclusive contemporary design. Truly amazing place in residential quiet street that leads to the beach. One of the most exclusive propositions in Lagos, waiting to be realized.

Property information

Real Estate:

Real Property Included

Living Accommodation:

One of the parts of the establishment can be converted into 3 bedroom house for the owners to live and manage the hotel.

Location:

Located on Meia Praia beach in Lagos, Portugal, Algarve. Only few minutes away from the beach by foot. Close proximity to supermarkets, train and bus station. Local hospitals and health care industry 10 mins away by the car.

Premises Details:

Single floor establishment with grand swimming pool in the center surrounded by L shape construction. Possibility to convert current layout into 14/18 bedrooms with individual bathrooms and direct access to the pool.

Planning Consent:

Planing permit-ion is granted for a conversion project. Everything is ready to be build.

Business Operation

Competition / Market:

Lagos is a large city (by Algarve standards) with 35.000 local habit-ants that grow into 600.000 visitors during high season. There is 2 hotels on Meia Praia that are booked 80/90% yearly. Average room value during the season 270/350€.

Reasons for selling:

Owner has it for sale untill November of 2017, if not sold then will develop the hotel by his own means.

Trading hours:

10:00 - 00:00

Employees:
6
Years established:
2007

Other Information

Support & training:

Can be acquired from the owner.

Furniture / Fixtures value:
€200,000 - included in the asking price
Inventory / Stock value:
€300,000 - included in the asking price
Related Documents:
Home based:
This business can be run from home.

Contact Information

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