Alcácer III | Approved Hospitality Development Project in Alentejo
Alcácer III presents an opportunity to acquire approximately 7.85 hectares of land with an approved architectural project for a boutique hospitality development in Portugal's Alentejo region.
Situated in Olival do Mourão, near Torrão, in the municipality of Alcácer do Sal, the property enjoys a rural setting with views towards the Vale do Gaio reservoir. The proposed development combines contemporary architecture with the surrounding countryside, creating the basis for a hospitality investment focused on nature, privacy and outdoor living.
THE DEVELOPMENT
The sale comprises approximately 78,500 m² of land together with an approved architectural project for a proposed three-star apartment hotel.
The project provides for 15 accommodation units, comprising 13 one-bedroom apartments and two studios, with a proposed gross construction area of approximately 1,117.5 m² and a building footprint of approximately 662.21 m².
The accommodation has been designed to take advantage of the site's natural setting, with duplex layouts, private outdoor spaces and views of the surrounding countryside.
The architectural plans also incorporate reception facilities, a restaurant and dining area, bar, swimming pool, communal spaces, landscaped grounds and outdoor parking.
The project received architectural approval from the Municipality of Alcácer do Sal on 16 September 2020. Turismo de Portugal also issued a favourable project-stage opinion for the proposed three-star apartment hotel.
According to the developer, the specialist engineering projects are nearing completion. The documentation provided includes submissions relating to structural stability, electrical installations, telecommunications, water supply, drainage, thermal performance, acoustics, fire safety and mechanical installations.
The purchaser will be responsible for completing the outstanding technical and licensing requirements, obtaining the necessary construction authorisations and undertaking the development.
LOCATION AND LIFESTYLE
The property occupies a peaceful countryside setting near Torrão, surrounded by the natural landscape of the Alentejo, with views towards the Vale do Gaio reservoir.
The proposed hospitality development is well suited to a concept centred on countryside retreats, cycling, hiking, birdwatching and outdoor recreational activities.
The nearby town of Torrão offers traditional Alentejo character, local restaurants and access to the surrounding countryside.
According to the project's brochure, approximate driving times are:
- Lisbon and Lisbon Airport: 1 hour 20 minutes
- Comporta: 50 minutes
- Alcácer do Sal: 30 minutes
This setting offers the privacy of an inland countryside retreat while remaining within reach of Lisbon, Comporta and the Alentejo coastline.
ESTIMATED CONSTRUCTION COST
The seller has previously commissioned an estimate for the construction of the proposed hospitality development, based on the architectural plans and specifications originally envisaged for the project.
The estimated construction cost was approximately €2 million.
This figure provides prospective investors with an indicative budget for developing the project in accordance with the original proposal. It is intended to assist buyers in assessing the overall investment required, taking into account both the acquisition of the land and the subsequent development.
The €2 million figure is an estimate rather than a fixed construction quotation or guaranteed final cost. Any changes to the architectural design, building specifications, materials or scope of works may result in a different construction budget.
Prospective purchasers should also independently verify the estimate, obtain updated construction quotations and confirm any additional expenses relating to licensing, professional fees, infrastructure, taxes and contingencies.
THE INVESTME
