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LAND WITH PLANNING FOR 16 2 BED HOUSES,ALGARVE
Joined: 28 Feb 2008
Posted: 07 Oct 2008 at 7:08pm
"OFF MARKET" investment this time in Western Algarve / Portugal.
The Land is situated in the Western Algarve about 22 miles north of the holiday resort of Lagos. It takes approximately 1h 30m from Faro International Airport most of it by motorway, the last 15 miles are "A" type roads with excellent surfaces and good signposts.
The Land is situated on the edge of the National Park, the well known and beautiful Costa Vicentina. The coastline here is spectacular with beautiful views over the Atlantic Ocean.
Some of the amenities of the surrounding area are: a Hotel, Supermarket, Petrol Station, Bakery, selling fresh bread and cakes daily, 3 Restaurants, Fruit, Vegetable and Fish Market and a number of Bars.
The Land is situated approximately 2 miles from the nearest beach and there are several lovely golden sand beaches within a 15/20 minute drive.
Banks, Doctors, Main Post Office, Town Council, Church and the main Meat, Fish and Fruit and Vegetable market is 5 miles away.
The village where is located the land is quiet outside of the main holiday season of July, August and September when the village and local beaches get very busy. For those seeking busy nightlife and busy holiday resorts, Lagos, Portimao, Praia da Rocha, and many more resorts are only a short drive away. There are also a number of golf courses which are easily reached within a 45 minutes drive.
Building planning permission and regulations are very strict in this area. No buildings higher than first floor are permitted to be built in the area.
Under current planning laws only 45% of any urban land can be used for building. For example in this plot, only will be use 45% for building, infrastructure, etc, the rest must be used for gardens or to be left as it is. Also, no new buildings are allowed in most of the National Park Costa Vicentina, these strict regulations will ensure that this area will not follow a lot of the other areas of the Algarve where buildings are now everywhere.
The attractions in the Area are:
·Easy driving distance from Faro International Airport with superb access links.
·Integration in the Portuguese away of life, if so wished, but with easy close access to bustling holiday resorts.
·Easy and quick access to lovely golden sandy beaches, out of the main holiday season, you will have the beach to yourself.
·Quiet most of the year, gets busy in the 3 main months of the summer. Rental potential during this time.
·Unspoilt and likely to remain so.
·Good views of the pine trees and mountains
Land Area: 4.480 sqm.
Viability: 16 two bed Townhouses with 124sqm each on a gated Condominium with Communal Swimming Pool and Underground Parking.
Construction Area: 2.016sqm.
Architecture Project Cost: +- 25.000 Euros
Planning Permission: Will take +- 3months to get.
Price for the Land: 400.000euros.
Estimated Construction Price: 1.2 million Euros
(Low) Estimated Sales Price: 150.000 Euros x 16 = 2.4 million Euros
(Low) Estimated Profit: 775.000 Euros
The Seller is very keen to accept a proposal where he keeps 2 townhouses (KEY READY) in exchange of 200.000 Euros for the land.
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Edited by ADMINWWP - 08 Oct 2008 at 12:36pm
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