Description
Hotel under renovation with 30 suites, spread over 5 floors, ground floor, 1st, 2nd 3rd and terrace. Fantastic business opportunity for investors looking for a simplified investment, it includes the shares of the owner company, it also includes the total refurbishment of the hotel that is scheduled to be completed in January 2026, except at the level of the ground floor, the refurbishment will be in charge of the buyer, who can carry out it according to his need and design, transforming it into a reception, living room, storage room or bar/restaurant. The building currently has no lift, but there is space to place one, from the ground floor to the terrace. The large terrace with sea view is great for placing a jacuzzi, and sunbathing.
This beautiful building has an excellent location in downtown Faro, just a few minutes walk from the Marina, the Algarve capital with a lot of tourist demand, has been valued for its historic area, easy access with good restaurants and commerce.
Inserted in an Urban Rehabilitation Area (ARU), with Attractive Tax Benefits such as exemptions in IMT, IMI, IRS, IRC, this potential business can be transformed into a Boutique hotel or other type of local accommodation. It has a Pension/Residential Permit.
Surrounded by good restaurants and streets with various shops, cafes with terrace, supermarkets, theatre, as well as the main market building.
For travellers, this hotel is very practical, as its location is a 5-minute walk from the train station and central bus station, which allows transportation to the airport easily, which is 10 minutes away.
Come and see this property, book your visit now!
Energy Rating: D
