Plot with Approved Project for Hostel

Urban plot of 720 m2 in the centre of Ferragudo (Lagoa), with an approved project for Local Accommodation, ideal for a high quality hostel with 20 ensuite rooms and a reception area.Construction can start immediately. The Local Accommodation unit is located in a well established residential and tourist area, within walking distance of shops, services, restaurants, public transport, beaches, the historic centre and the riverside area. This asset offers strong profitability potential in local accommodation, representing an attractive opportunity for investors in the Algarve.Project description- Approved project for Local Accommodation, comprising basement, ground floor, first and second floors;- 20 en suite bedrooms, common lounge area, service areas, reception, technical areas and storage rooms;- Basement parking planned, ensuring comfort and functionality for guests;- Construction licence included, with all compensations due to the Lagoa Municipal Council already paid, allowing the immediate start of construction.Product designed for Local Accommodation and Hostel use in a destination with strong year round tourist demand. The sale price reflects the tourism exploitation potential, the central location and the licensing status, with the project ready to build.Distances to services and beaches- 0 to 400 m Restaurants, shops, services and supermarket;- 600 m Ferragudo beaches Angrinha Beach and Praia Grande;- 3 km Golf courses;- 6 km Portimão Marina and Praia da Rocha;- 8 km Carvoeiro;- 14 km Portimão Municipal Aerodrome;- 65 km Faro International Airport.