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Three Star Hotel In Lagos For Sale

Lagos, Faro
Asking Price:
€3,000,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
Available on request
Cash Flow:
Available on request

INVESTMENT OPPORTUNITY: This beautiful 3-star hotel is built in 1991, is next to a protected nature park, only a 5 minute walk from the white sandy beach and the centre of a popular tourist destination in the western Algarve. There are 43 rooms with bathroom and balcony, many of which with beautiful sea or village views. Each room has a mini-bar, AC/heat, WIFI, safe and telephone. Hot water supplied via solar panels with gas back up.
It consists of 5 floors: ground floor with reception, waiting room, breakfast room/lounge, kitchen, laundry room, storage and a secluded outdoor terrace with direct access to a typical fisherman's cottage with two bedrooms, suitable for possibly the owner, manager or caretaker. On the remaining four levels are the 43 rooms, of which some also are very easily to turn into suites. Each floor has its own separate service area for linens and cleaning supplies service lift and guests lift.
There is a heated outdoor pool with spacious sun terraces, a fenced playground for children, 2 toilets, 2 showers, bar/snack bar, covered dining area and barbecue. Directly behind this you find a huge storage, pump house, water tank and its own borehole/well, connected to the automatic irrigation system for the gardens.
The parking area has 2 entrances so the tour buses have easy access to reach the hotel.
There is extra land with permission to construct 19 more rooms!
The undeveloped, natural garden runs down to the cliff-top/ ruins and can be easily turned it into a beautiful garden with terraces where guests are invited to relax!
On the large flat roof you have very nice views of different places which would be great for a nice roof terrace.
The property is in a good condition but needs certainly some modernization. But with some renovation this for sure will be a good future investment.

Property information

Real Estate:

Real Property Included

Living Accommodation:

A typical fisherman's cottage with two bedrooms, suitable for possibly the owner, manager or caretaker.

Location:

Algarve, only a 5 minute walk from the white sandy beach and the centre of a popular tourist destination in the western Algarve and 10 min drive from Lagos.

Business Operation

Expansion Potential:

There is extra land with permission to construct 19 more rooms!
The undeveloped, natural garden runs down to the cliff-top/ ruins and can be easily turned it into a beautiful garden with terraces where guests are invited to relax!
On the large flat roof you have very nice views of different places which would be great for a nice roof terrace.
The property is in a good condition but needs certainly some modernization. But with some renovation this for sure will be a good future investment.

Reasons for selling:

Retirement

Years established:
1991

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