Description
HIGH-PROFIT HOSTEL IN THE HEART OF THE ALGARVE – FOR INVESTORS!
Our property, located in a historic former bank building, is a fully licensed hostel strategically positioned directly across from the Square and the Casa Inglesa — a prime location in a neighborhood undergoing exciting new developments, including plans to expand the Riverside Zone.
Property Overview:
Licensing:
The property holds two distinct licenses — one for residential use (upper floor) and another for commercial use.
Details and Structure:
Originally built to house a bank, the building features an exceptionally strong foundation and boasts sophisticated finishes throughout. The floors and walls exhibit a refined touch that lends elegance, prestige, and a sense of solidity to the property.
Accommodation Layout:
Top Floor: Includes 8 private rooms, a fully equipped kitchen, and two spacious bathrooms with a total of 4 toilets, 4 sinks, and 5 showers. This floor also features a beautiful terrace, offering guests a comfortable and private environment.
Ground Floor: This level has 4 large dormitories accommodating up to 34 guests, with 3 showers, 3 sinks, and 3 toilets.
Basement Amenities:
The basement offers several functional features. The former bank vault has been converted into a fully equipped kitchen for guest use. There is also a convenient, well-structured laundry area. The space includes 3 bathrooms, 3 sinks, and 3 showers, ensuring extra comfort and convenience during guests’ stay.
This hostel represents a rare combination of charm, potential, and prime location, making it a valuable asset in an area poised for growth. With its multifunctional use licenses and strong potential for capital appreciation, it offers an appealing opportunity for investors.
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