Quinta das Palmeiras, Arão, Algarve
Our property for sale in the algarve Quinta das Palmeiras which is a country residence which is ready for occupation, either as a beautiful family home or a commercial venture. It would be an ideal business base for anyone requiring space and storage, and would also be suitable for high-end holiday letting and could potentially be developed.
The property consists of:
A primary 4 bed residence which is a traditional Portuguese farmhouse, fully modernized with all services.
Annex games room which is prepared for conversion to a 2 bed apartment
Separate 2 bedroom apartment attached to 300m2 of storage facility with potential for development.
Main Residence
The main house comprises 4 bedrooms, living room (w/underfloor heating) and wood-burner, dining room & wood-burner, 2 bathrooms, 1 WC/shower room, 1 WC, kitchen and utility room. There is a separate 60m2 building which is currently in use as an office and games room but is prepared for conversion to an independent 1 bedroom apartment.
Outside the main house, on the upper terrace, is an exterior living area, BBQ and kitchen. On a lower level there is a lawned garden, heated pool and Jacuzzi and in a separate area there is a dedicated vegetable garden.
Land
Two separate parcels of land make up a total of 2 hectares. There is a 500m2 stable block and the upper fields are divided by post and rail fencing. Below these fields is an area with 200 orange tress of varying species giving fruit 9 months of the year.
A well provides all the water needed for the houses and land although mains water is also available.
Price
A recent bank valuation values the property at €1,100,000 for borrowing purposes. As the ownership of the property is held in a limited company there is an option to purchase the shares, meaning there would be no liability for IMT, representing a saving of 6%.
Arial view of the buildings
The view below shows the existing residential area and the separate apartment and storage area which could potentially be developed in the future. A natural boundary exists between the two areas and there is separate access as shown.
2 Bedroom apartment
On the same plot but with different utilities is a building which at present comprises a 300m2 warehouse plus a separate self-contained apartment comprising 2 bedrooms, 2 bathrooms, kitchen, living/dining room and large terrace.
FUTURE OPTIONS FOR DEVELOPMENT
Provisional approval for the separation of the property has been given and this would produce several options for development.
The existing house and land would remain and become a property with 4 bedrooms in the main house and a two bedroom guest annex
A second independent property could then be built as:
A private property of up to 500m2 with pool and private garden –for future sale or rent
or Individual units to be used for holiday renting with a communal pool and dining area.
More information and the prices will be on our main website.
However we are woking on the website, and it will be finished very soon.
Kind regards,
property in the algarve for sale