Blue Palace Luxury Boutique Hotel: Co-Ownership Investment - € 350K

 Portugal Residency / by Erg Real Estate / 104 views

Blue Palace is located in Alegria Sq. a very small and charming square right next to Avenida da Liberdade.

Avenida da Liberdade is the most well-known Avenue in Lisbon. It’s a very prime location, where all the main Luxury Couture and Jeweler brands are located. Its also considered Prime CBD and the heart of Lisbon.

It was inspired by Paris’ Champs-Élysées. It’s a tree-lined avenue connecting two squares (Praça dos Restauradores and Praça Marquês de Pombal). Dates back from the XVIII Century, when it was ordered to be built by Pombal Marquis, right after the 1755 Earthquake, to be a walking garden and a big boulevard. Then in 1879 it was changed to become an Avenue. Is beautifully paved with Portugal’s traditional cobbled design.

 

The Hotel project is fully approved for a 5* Luxury Boutique Hotel, renovating the existing building and adapting it to a high-end Hotel product. The gross construction/rehabilitation was already made between 2018 and 2020, with all the interiors already in concrete. This is a huge upside, because what its traditionally the most difficult process in rehabilitation work like this, its already done.

 

General characteristics of the project:

  • Number of investors: 157;
  • Investment amount: € 350K;
  • Possibility to buy back in the 10th year;
  • First 60 investors (19 places already filled), 5% return in the first 5 years paid in full after one year of investment;
  • Return of the remaining investors 3,5% per year (for 5 years) paid in full at the end of the first year of investment;
  • Type of investment: purchase of shares in SPV;

NOTE: the promoter has the right between the seventh and ninth year, to promote the sale of the Hotel to third parties, if he succeeds the investor will be paid at least the amount initially invested.

 

Project Timeline

Call for investors: Last Quarter of 2022

Expected start of operation: 1st Quarter of 2025

  • Listing ID: 71936
  • Enables residence and/or citizenship in:: Portugal
  • Enables owner's visa-free travel to:: EU/Schengen
  • Price range: US$250,000 - US$500,000
  • Ownership type: Shares
  • Minimum holding period to maintain residence/citizenship status: 5 years
  • Construction status: Completed
  • Property type: Hotel rooms/shares
  • Income-generating property: Yes
  • Annual maintenance costs borne by the buyer: Yes
  • No. of rooms: More than five
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