A unique piece of land within an existing resort, situated near the sea, between two beaches (Praia da Luz and Burgau), just a 20 minutes drive from the city of Lagos.
The country has a total area of 12.885m2 and a building area of 11.500m2.
This is a unique opportunity, because today it is difficult (almost impossible) in the Algarve to obtain a building permit for new construction next to the sea.
This land has an approved project for a hotel with 140 rooms and 35 suites.
The asking price for the land is EUR 7,500,000.
There is a provisional calculation made for the construction costs of the approved project, which also amounts to approximately EUR 7,500,000.
For an estimated investment of EUR 15,000,000 you have thus stand a beautiful hotel, right on the seafront, with an ocean view, 2km from the resort of Praia da Luz and within walking distance of a golf course.