A fantastic business/living opportunity in the country judged by Chanel 4's 'A Place in the Sun' to be in the top three best places to invest your money in Europe!
The property, which is located in the heart of the village of Avelãs de Caminho (on the IC2 main arterial road linking Coimbra and Porto), is a 4,000 m² plot, with over 1,000 m² of floor area in the existing buildings.
The site is fronted by a 200 year old manor house, which retains many original features. The ground floor is a business unit presently operating as an insurance agent and generating an income of 600 euros a month. The upper floor is accommodation (in need of some refurbishment) with high ceilings and oodles of character. It could make a lovely home or be renovated as part of an overall business plan.
To the rear/side of the site, situated around a courtyard area, is the second building (a more recent addition). The first floor of this is a bar area, let on a short lease, and generating an income of 600 euros per month. The second floor comprises 8 rooms and 2 bathrooms, adding enormous business potential.
To the rear, ground floor level, there are a number of units which could be converted, allowing the possibility of a restaurant or other enterprises, such as stabling for horses. These units face into the courtyard and one of them provides access to the 3,000 m² of land beyond. In addition to mains water there are two wells providing an independent water supply, useful for irrigation etc.
The property is ideally situated, being approximately a 25 minute drive from Aveiro (the ‘Portuguese Venice’), Coimbra and the coast. The famous thermal spa waters of Curia and Luso are situated within 5 and 12 km respectively. The Bairrada area, renowned for suckling pig and wine, is a restaurant hot spot attracting locals, city professionals and tourists from Spain and beyond.
The potential of this property is enormous, and is only limited by your own vision. With investment, it could be possible to create a mini complex incorporating a variety of businesses/accommodation e.g. food outlets, hotel, shops etc. It represents great value for money. In 2000 the bank valued it at 650,000 euros. The subsequent slump in house prices is now bottoming out, and with interest increasing in this area of Portugal, combined with a strong £, it couldn’t be a better time to buy!
I am not acting as an agent. If you are interested in getting more details, e-mail me. Viewing of the property would be via the owner, and all negotiations would be with him directly.
