12 bedroom Farmhouse for sale with countryside view with Income Potential in Setubal, Alentejo Southern Portugal

4,200,000 EUR 3,654,000 GBP 4,158,000 USD

Reference: 243225

Bedrooms: 12
Bathrooms: 6
Floor Size: 628 m2
Plot Size: 12.19 hectares / 30.13 acres
Work Required: None
Swimming Pool
Balcony
Lake, River or Pond
Gite / Annex / Additional Accommodation
Income Potential
Garage(s)
Parking space(s)

Details

Exquisite 12 bedroom historical Quinta with separate apartments, nestling in over 30 acres of glorious land with gardens, lakes and orange grove, enjoying far reaching countryside views from its peaceful location near Setubal.

This charming property was rebuilt in 1760, after the earthquake of 1755, and became a manor house.

Situated at the foot of the Castle of Palmela, it enjoys a privileged view over the Castle.

It has 837.60m2 of construction with a fitted kitchen, spacious living and dining rooms, a library, laundry room, 12 bedrooms and 6 bathrooms.

There is a chapel with frescoes in the grounds and an attached apartment, a swimming pool, support baths, 5 annex apartments (365m2), of recent construction, T1 and T2, meeting rooms, two pavilions for events, one of them with an area of 500m2, garages and several agricultural dependencies.

The total construction area is 3839.70m2 with an urban land area of
13 hectares where there are several water mines and boreholes.

Outside is an orange grove and pine trees, lakes and nooks with statues and other stone pieces with artistic and historical value.

There is the possibility of investment in several aspects as it has an excellent location, at the gates of Setubal, Palmela, 5 minutes from the fabulous beaches of the blue coast, and 25 minutes (45 kilometres) from Lisbon airport.

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Portugal Property Buying Guide

Guide to the Portugese Buying Process

1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.

2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.

3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.