Turn Key 22 bedroom Farmhouse for sale with countryside view in Vila Vicosa, Alentejo Southern Portugal

2,950,000 EUR 2,566,500 GBP 2,920,500 USD

Reference: 242613

Bedrooms: 22
Bathrooms: 22
Floor Size: 1,265 m2
Plot Size: 22.91 hectares / 56.62 acres
Work Required: None
Balcony
Gite / Annex / Additional Accommodation
Income Potential
Air Conditioning

Details

Impressive income generating property, just 5 minutes from Vila Vicosa in Alto Alentejo, set in over 56 acres and ideal for for rural tourism.

The main house of 420m2, comprises 4 bedroom suites, a living room, dining room, a kitchen with an independent entrance and also two additional offices.
As well as the main house, there are also three separate houses, three studios, 10 apartments and two domes, holding a maximum current capacity of 56 people.

With a total built area of 1,800m2, there is also a restaurant, an industrial kitchen, two technical areas where the laundry and the pellet heating equipment are located, as well as the changing rooms to support one of the swimming pools. A games' room, with around 70m2, provides an open and multipurpose space and also a house with 2 bedrooms and living room (the caretaker's house) with the support of two storage areas.

All the units are equipped with air conditioning, central heating, television and Internet, are fully decorated and provide excellent levels of comfort.

The property has the bonus of being sold with all furniture, equipment and decoration.
It includes two salted water swimming pools: one next to the main house and another next to the apartments.

In agricultural terms, the estate has a small ongoing agricultural project, having been planted, in 2019, about 1 ha of orchard, 2 ha of almond grove, 1 ha of olive grove and 0.5 hectares of table grape and around 0.5 hectares of vegetable garden.
It also comprises around 3 ha of meadows that are currently used for grazing animals: 2 mares, 2 donkeys and 28 sheep.
The farm also has domestic animals, chickens and ducks.

The underlying logic was to integrate the rural component with the tourist component, so that the guests could share in the rural expertience, including in the meals, with many of the products created or produced on the estate.
The estate is crossed by a stream and has 3 boreholes, one of them that feeds all the houses with water.
It also has a transformer station and cable internet that reaches all the houses.

Vila Vicosa is known as the "Princess of the Alentejo". Although small, it is one of the most precious and charming jewels of Alentejo, a "museum-village". Vila Vicosa owes its name to the fertility of its soils and the charms of its territory. This Alentejo village is the home of one of the most illustrious Portuguese poets, Florbela Espanca.
It is a town full of history, with a rich and enviable heritage created throughout the centuries. It was and still is nature that provides the raw materials for the creation of various decorative stone pieces.
The highlight is marble, which has long played a fundamental role in the municipality's economy.

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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.