The asking price for this 60,125 m² aparthotel development plot near Albufeira is €13,900,000. The purchase includes the land and an approved project, but construction of the aparthotel is not included. Located in Olhos de Água, the site offers an opportunity to buy a large-scale tourism development asset in the Algarve. Planning consent proposes a four-star aparthotel for tourist use. The approved scheme allows a maximum of 150 units. Buildings may be developed over up to two storeys. The project includes approximately 19,800 m² of above-ground construction area. A further 4,800 m² of basement area is included in the approved development parameters. The generous plot provides scope for a substantial hospitality operation. Its position is approximately 2 kilometres from the nearest beach. Olhos de Água is around 2.5 kilometres away, providing access to local shops, restaurants and coastal amenities. Albufeira is approximately 7 kilometres from the site. The nearest golf course is about 3 kilometres away. Faro Airport can be reached in approximately 32 kilometres. This location supports a tourism-led business model in a destination popular throughout the year. Buyers can use the approved project to progress a four-star aparthotel concept without starting the planning process from the beginning. The potential 150-unit capacity may support diversified accommodation and rental income streams. Investors should undertake their own construction, operating cost, funding and projected ROI assessments. The plot is suitable for developers, hospitality groups and investors seeking a sizeable commercial property for sale in the Algarve. Contact us now to request further information or arrange a viewing.
Usage
Commercial
Type
Plot
Town
Olhos de Água
Parish
Albufeira e Olhos de Água
Municipality
Albufeira, Faro
Region
Algarve (Central)
Plot Area
60.125 m²
● Distance to the nearest beach 2 km
● The price includes the plot and the approved project but not the construction of the building
This plot has an approved project proposing the implantation of a 4 Star aparthotel for touristic use.
The total plot area has 60,125m² with a construction area of 19.800m² plus 4.800m² of basement area.
The approved construction of the buildings permits a maximum of 2 storeys and 150 units.
Location
• Distance to the nearest beach - 2 kms
• Distance to Faro airport - 32 kms
• Distance to Golf - 3 kms
• Distance to Olhos de Água - 2,5 kms
• Distance to Albufeira - 7 kms
