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Property description

Portimão - Historical center - "Feitoria": The Feitoria used to be a well-known culinary hotspot in the historical center of Portimão; it has functioned as a successful restaurant for years and after closing down it became a kindergarten. Part of the building was a former school, the so-called "Colégio" and joined together to the kindergarten. The inhabitants of Portimão have positive memories of the lively surroundings and the culinary offerings of the former "Feitoria". Famous was above all the inner courtyard, which extends on different levels, a hidden, peaceful oasis in the middle of the city center. The present project for the conversion into a 4-star hotel consisting of a total of 48 rooms (5 single / 35 double rooms and 8 suites) is based on the following concept. The concept:   Currently, apart from the Hotel Globo as one of the few examples, there are not many hotels in the historic center of Portimão. Most of the hotels can be found on the coast between Praia da Rocha and Alvor. In fact, the historical centre has not yet been discovered and explored, due to various reasons, such as the recent economic crisis, the change of the commercial heart due to opening of the peripheral opened shopping malls, harbor changes & functionality problems. For a while it seemed that Portimão had lost its tourist attraction. The sardine festival and a wide range of activities in a lively city with numerous evening events serve as a new approach. The cost of living in Portimão is relatively low according to the diversity, quality and richness of the experiences that can be found in the city. Compared to other nearby beach resorts such as Lagos, Albufeira, Quarteira, Vilamoura etc., the economic level of Portimão is very pleasant for both Portuguese and foreign tourists. Portimão was known for a long time exclusively by Praia da Rocha, while today we can experience a kind of revival feeling; for instance the Zona Ribeirinha (river line) along the Arade river is seen as an authentic spot, where we can find the real roots of Portimão. In addition, the urban infrastructure has been continuously improved; creating more parking spaces and more organized events, for example, has contributed to an increase in the number of tourist visitors. The arrival of various international cruise ships, sailing/ water sports as well as the incentive events in the Algarve's International Autodrom (with group events sponsored by BMW / Mercedes) also contribute to the positive development of tourist visitor numbers. Compared to a city like Faro, Portimão lacks authentic concept hotels in the center, such as the EVA, the Faro Hotel and other hip hotels in the center of Faro.  The "Feitoria" can take easily its position as one of the leading urban city heart hotels, mainly due to the fact that the Algarve has a growing boom in visits - 2016 was an absolute record year. The targeted mix for the "Feitoria" is to become the leading urban oasis hotel in the center of Portimão. Algarve can be seen as a destination all year around due to the balanced climate; the cost-effective transport system with its extensive connections and the constantly growing transport network also contribute to this trend. All in all, this is an interesting and lucrative investment opportunity in the middle of the historic center of Portimão. - REF: HTL-101 * The feature(s)/equipment(s) mentioned in this description are subject to verification and agreement between the vendors and buyers.

Portimão - Historical center - "Feitoria":

The Feitoria used to be a well-known culinary hotspot in the historical center of Portimão; it has functioned as a successful restaurant for years and after closing down it became a kindergarten. Part of the building was a former school, the so-called "Colégio" and joined together to the kindergarten. The inhabitants of Portimão have positive memories of the lively surroundings and the culinary offerings of the former "Feitoria". Famous was above all the inner courtyard, which extends on different levels, a hidden, peaceful oasis in the middle of the city center.

The present project for the conversion into a 4-star hotel consisting of a total of 48 rooms (5 single / 35 double rooms and 8 suites) is based on the following concept.

The concept:
 
Currently, apart from the Hotel Globo as one of the few examples, there are not many hotels in the historic center of Portimão. Most of the hotels can be found on the coast between Praia da Rocha and Alvor. In fact, the historical centre has not yet been discovered and explored, due to various reasons, such as the recent economic crisis, the change of the commercial heart due to opening of the peripheral opened shopping malls, harbor changes & functionality problems. For a while it seemed that Portimão had lost its tourist attraction. The sardine festival and a wide range of activities in a lively city with numerous evening events serve as a new approach. The cost of living in Portimão is relatively low according to the diversity, quality and richness of the experiences that can be found in the city. Compared to other nearby beach resorts such as Lagos, Albufeira, Quarteira, Vilamoura etc., the economic level of Portimão is very pleasant for both Portuguese and foreign tourists. Portimão was known for a long time exclusively by Praia da Rocha, while today we can experience a kind of revival feeling; for instance the Zona Ribeirinha (river line) along the Arade river is seen as an authentic spot, where we can find the real roots of Portimão. In addition, the urban infrastructure has been continuously improved; creating more parking spaces and more organized events, for example, has contributed to an increase in the number of tourist visitors. The arrival of various international cruise ships, sailing/ water sports as well as the incentive events in the Algarve's International Autodrom (with group events sponsored by BMW / Mercedes) also contribute to the positive development of tourist visitor numbers. Compared to a city like Faro, Portimão lacks authentic concept hotels in the center, such as the EVA, the Faro Hotel and other hip hotels in the center of Faro. 

The "Feitoria" can take easily its position as one of the leading urban city heart hotels, mainly due to the fact that the Algarve has a growing boom in visits - 2016 was an absolute record year. The targeted mix for the "Feitoria" is to become the leading urban oasis hotel in the center of Portimão. Algarve can be seen as a destination all year around due to the balanced climate; the cost-effective transport system with its extensive connections and the constantly growing transport network also contribute to this trend.

All in all, this is an interesting and lucrative investment opportunity in the middle of the historic center of Portimão.

- REF: HTL-101

* The feature(s)/equipment(s) mentioned in this description are subject to verification and agreement between the vendors and buyers.

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Property Features

  • Air conditioning
  • Roof terrace
  • Central location
  • Pool
  • Lift
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