Tuesday, 25 February 2020

Frontline Bungalow site for sale


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Price: €995,000
For Sale: Land, Commercial (Current)
Locality: Morro
Ad #: 317

Development on a frontline plot of 15.000 m2. 24 villas, 2 tennis courts, swimming pool and restaurant. Great time to buy this unique development before Maio becomes more mainstream when the planned airport arrives in 2017.

With it's south facing position, it guarantees sun all day, with incomparable sunshine views over the sea, due to it's frontline location.

There are a number of business models which can be provided:

If the development was bought and only the front units sold, this would produce 1.800.000€, less 300.000€ for renovation, resulting in 1.500.000€.  , which would pay the cost of the original investment and leave a profit of 505.000€ and the rest villas and land.

Alternatively the resort could be renovated and sold individually which would return over 2.000.000€ profit.

Maio has 35% of the beaches from Cape Verde and Sal has 15%. If we consider the potential of tourist developing by the kilometres of beach, Maio has more than double kilometres of beach than Sal, therefore can be double developed by tourist infrastructures.

This is a unique product which only comes around very infrequently!

NOTE: This unique project can be bought outright or also being offered by way of an investment vehicle (subject to minimum funding being reached) to allow funding by multiple investors - minimum investment 40,000 Euros.

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