Land in city Armação de Pêra
530.00 sq.m.

€ 1 200 000
Land included in a residential block with urban fronts facing the sea. The project for this land provides for high construction and beach view. Construction gross area: 2.800 m2. Two investment options:
Apartments Construction Project. Or Hotel / Hostel Construction for local accommodation.
Estimated Gross Revenue = 7.500.000 Euros (with complete sell of 23 apartments). Project for apartments already done. Apartments spread over 8 floors: 3 T2 per floor in 7 floors;1 T3 e 1 T1 in the 8th floor; 3 Comercial stores;1 Pool; 2 Underground floors for parking.

The hotel project also includes 8 floors, plus 2 underground floors for parking. The implantation zone provides beach view between the 4th and 8th floor.

With a golden geographical location, in the heart of the Algarve, Armação is connected to the rest of the region by the Route N125 and the Hightway A22, making it a desirable and charming destination for all investor profiles. Whether it be a real estate project filled with opportunities for monetization or the launch of more adventurous ventures, Armação de Pêra is a guaranteed fertile ground and recurring choice of thousands and thousands of visitors. Armação is connected to the region by fast accesses, communication routes and highways that lead businesses to all the Algarve.

The land is located in Armação de Pêra, a small town belonging to the region of Silves in Algarve, occupying an area of 9.15 km² and has a population of about 5,000 inhabitants. Armação is 15 km west of Albufeira, facing one of the Algarve's largest beaches, and spreading east to Galé Beach. Buildings and apartments appear along the main street of the small town, fulled with terraces and cafes overlooking the long beach and the vibrant blue sea.

Armação de Pêra is a fishing and tourist town very appreciated in the summer, whose population grows exponentially during the bathing season due to foreign tourists and Portuguese families. The land is 1 min walk to Armação Beach (90 m), and 15 min by car to Marinha Beach, one of the most beautiful beaches in the Algarve (9 km). Nearby there are excellent Golf courses, such as the Amendoeira Golf Resort and the Salgados Golf Resort.

Seller information

Seller type Private seller

Location of the property on the map

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