Own Property Worldwide presents
The Alvor Atlantico apart-hotel Investment and holiday home opportunity, Portugal
Prices from only €55,000
Pestana Group owns 6 hotels, a golf course and a ‘village resort’ in Alvor, an exclusive region of the Western Algarve. The Pestana Alvor Atlantico has been run as a hotel by the Pestana group for many years now and has a proven track record with known costs and returns, essential for any investment.
The hotel has an indoor pool and spa facilities as well as a gym and the use of an outdoor pool.
Golf rights can be included which give access not just to the Pestana Alto Golf but also three other championship courses, all within 20 kilometres!
Pestana will continue to operate the hotel and buyers will be given a designated number of week’s off-season and receive a return on their investment.
Hilton are building a 5* resort behind the Atlantico and Pestana are building a par 3 golf course to the east, so the Atlantico can be seen to have a fantastic location!
During the summer the hotel will be rented as a standard beach hotel and through the winter it will be used to offer golf packages on the local golf courses ensuring strong revenue all year round.
• 77 units available in an amazing beach frontage location
• 100% finance available (subject to status)
• Studio apartments from €55k – €133,900
• One bedroom apartments from €100,425 - €357,500 (Penthouse)
• Stunning panoramic sea view
• Indoor pool
• Fully managed by leading hotel operator
• Below Market Value by at least 20-30%
• Forecast 5%+ Net rental return (Gross yield 7%+)
• New refurbishment
• Furniture included
• Legal and closing fee’s paid
• Front line beach resort location with all the benefits of golf resort access, via the Pestana Group
• Fully refurbished hotel with high occupancy rate
• Luxurious reception and communal facilities
• Interior designed studios and apartments
• Sea views and walking distance to all amenities
Purchasing process and summary
Free property tour in the Algarve – Pay for your flights only
10% reservation deposit paid directly to Pestana Group
20% instalment due on (CPCV) contract of promise of sale and purchase -within four weeks
Hotel re-opens in March 2011
Investor starts to receive rental income based on forecast 5%+ net yield
100% finance mortgage arranged to commence in Sep 2011
Initial 30% returned to investor by Pestana Group when mortgage is granted
Example
Investor purchases a 3rd floor, luxury studio apartment with panoramic sea views = Price €97,500
Total cash required to reserve the unit = €29,250
Rental yield payable to investor from March 2011 - €97,500 x 5% = €4875 per year (net forecast)
Mortgage offered to investor in September 2011 for €97,500 and €29,250 returned to purchaser
Current interest only mortgage available for 2.85% - Mortgage payment = €2778.75 per year
Net rental income forecast at 5% = €4875
Yearly rental profit = €2097
Need to know
Risk = Low
Benefits =Apart-hotel units are fully managed by leading hotel operator, below market value
Locations = Suitable for both beach and golf holiday’s, therefore higher occupancy rate
Recommended timeframe = Hold for 5 years +
Summary
This outstanding opportunity allows our clients to buy a beach frontage property in the exclusive Western Algarve from only €55,250 for FULL OWNERSHIP. The apart-hotel will be fully managed by the Pestana Group, one of the largest hotel and golf property developers in Portugal, meaning that occupancy rates will be far higher than average, and ensure that the forecast net yield of 5-6% is completely attainable.
The properties are now being offered at least 20% below a current bank valuation, and we will exclusively pay for all closing costs and a full furniture pack, that adds another 10% value into the deal.
We view this opportunity as a safe property investment play but with the added benefit of clients being given full access to utilise their property for personal usage for 4-6 weeks of the year.
After spending many months analysing other developments in the Algarve we feel that this is one of the greatest 100% finance deals available, with a strong rental yield from a leading developer and hotel operator.
Please contact us at Own Property Worldwide now to discuss full availability and finance options.
