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Investment Opportunity: Ruin in Large, Fertile Plot near the Sea at Olhão, East Algarve

Plot in Olhão

ref. TV1693
350.000€ 295.000€
  • NA
  • 138m2
  • 18.000m2

A rare opportunity to acquire a large fertile plot near the sea with a ruined traditional farmhouse for restoration or rebuilding. Ideal for an agro-tourism project, close to Olhão and the sea.

Usage
Residential
Type
Plot
Town
Olhão
Parish
Quelfes
Municipality
Olhão, Faro
Region
Algarve (East)
Floors
2
Living Area
138 m²
Surface area
178 m²
Plot Area
18.000 m²
Driveway
well, Mains electric
Fruit Trees
Sea View, Panoramic View, Country-side View
• Living Area: 138 m², Construction area: 178 m² – farmhouse for renovation
• Plot: 18,000 m²
• Old, traditional farmhouse built on 2 floors
• Year of Construction: pre-1951
• Countryside and sea views
• Rural location but a short drive to town and all amenities

This property has enormous potential, with an existing old farmhouse (in ruins), other buildings and surviving, traditional agricultural features set in a large fertile agricultural plot of 18,000 m2, few neighbours and views to the sea.

Built on two floors, the existing ruin offers the opportunity to create a new two-storey house or to renovate and extend the traditional farmhouse. There is also the possibility of constructing up to 2,000m2 of additional agro-tourism accommodation.

The ruin is located at the highest point of the diamond-shaped plot, in the northerly corner with the land sloping gently away from a ridge along the eastern boundary and descending in terraces to a brook that runs along western edge of the property. Access is via a 50m shared driveway from the tarmac road and, at the other end of the plot, a private path.

The land was used as a productive family farm with a mix of established trees including figs, olives, carobs, nêsperas, orchards of citrus and almonds, vegetable patches, arboriculture and watercourse beds. The surviving well, nora and cisterna are remarkable features, which could be restored, or the cisterna could be converted into a swimming pool.

The property would make an idyllic rural retreat for a family home or a fantastic agro-tourism or holiday project.

Amenities

• Mains electricity, telephone and mains water for connection nearby
• Fertile land with established trees, orchards, market gardening
• Large well with good water readily available
• Other traditional agricultural features – nora, cisterna, eira and terracing

Location

• A short drive to Olhão (5 kms) with all its amenities and year-round entertainments and activities: supermarkets, banks, post office, restaurants, cafés, shops, pharmacies, medical centres, schools, newsagents, sporting facilities and public swimming pool, the famous fish market, marina, other markets and much more.
• Beaches: Praia dos Cavacos (3 kms), Praia da Fuzeta (8 kms), Praia de Faro (20 kms)
• Golf: Colina Verde (10 kms); Quinta do Lago Laranjal (23 kms); Benamor (25 kms)
• Faro International Airport: 18 kms