RESTAURANT and HOSTEL STYLE HOTEL OVERLOOKING THE ARADE RIVER

PORTIMÃO

575,000

FREEHOLD

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agap2

ID NUMBER

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Central

ALGARVE

Epc Na

ENERGY

RATING

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480

m2

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/

Ha/Acres

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16

BEDROOMS

FOR SALE

NEW LISTING

This is a rare opportunity to purchase a wonderful HISTORIC House set over Three Floors, it had in a previous time once belonged to the Captain of The Port from where he was able to keep a close eye on the comings and goings along this important Arade River mouth.  The front of the property is finished in a green glazed tile, however at ground floor level, these tiles have been painted over in more recent times, but could easily, but carefully be removed to expose the original green tiling again.  Most of the Ground Floor is currently taken up with a beautiful and most unusual Restaurant presented almost in the style of a large Wine Cellar with huge stone feature Arches. The Restaurant structure is well presented having Male and Female Toilets and a  Servery/Bar. The Kitchen and Store Room require refitting and the replacement of the entire catering equipment and furnishings. From the Kitchen is an access trap door to a limited height Cellar ideal for the storage of beer, wines etc. The Upper Floors are arranged in a Hostel style with each floor having 8 Bedrooms, Bathroom and Kitchen. There is a Small Courtyard and a Terrace to the Upper Floor. To meet modern building regulations, the upper floors will require complete refurbishment and remodelling.  Being an Historic building, the property will be eligible for a low rate EU Historic Buildings loan and special Tax Exemptions/benefits from Portugal.

SITE AREA: Frontage 8m x overall depth 20m                                RESTAURANT 6m wide x total depth 20m

TOTAL BUILT AREA OVER THREE FLOORS 480m²

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GENERAL INFORMATION

Purchasers must satisfy themselves by inspection or otherwise that all rooms and any land are measured by you or your appointed solicitor or surveyor prior to purchase. All measurements or distances are approximate. The text, photographs and plans are for guidance only. It should not be assumed that the property meets all the appropriate legal requirements.

Energy Rating: Exempt – pre 1951

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