Income Producing 7 bedroom Wine Estate for sale with countryside view in Azeitao, Alentejo Southern Portugal

3,850,000 EUR 3,349,500 GBP 3,811,500 USD

Reference: 243685

Bedrooms: 7
Bathrooms: 7
Floor Size: 1,020 m2
Plot Size: 95.65 hectares / 236.36 acres
Swimming Pool
Balcony
Vineyard / Wine-making facilities and equipment
Gite / Annex / Additional Accommodation
Income Potential
Parking space(s)

Details

Wonderful opportunity to acquire an outstanding wine estate with beautiful 7 bedroom house, separate apartments, guest house, outbuildings and indoor pool, nestling in 95 hectares of glorious land with vineyard and olive trees, enjoying far reaching countryside views from its ideal location in Azeitao.

Inserted in Arrabida's Natural Park, this superb estate is composed of the "Casa Principal" ("Main House"), with a 432m2 area and 110m2 of terraces, distributed by two floors with geothermal heating, which is currently being used for rural tourism.

The ground floor comprises an open kitchen (Miele), a spacious living room, three en suite bedrooms with wide areas and a circulation area.

The first floor has two good size en suites with fireplace and two bedrooms with a separate bathroom and a circulation area.

The "Main House" incorporates an apartment, with a separate entrance, that is composed of two en suites, a kitchen, a living room and an annex, and a 1 bedroom apartment that integrates a living room, an en suite and a kitchenette.

The laundry area is placed in another annex, detached from the "Main House".

The "Casa da Malta" ("House of Malta"), of 96m2, is composed of a garage and an office and can be converted into a charming 2 bedroom apartment.

The "Casa Original" ("Original House"), with the reconstruction in progress, has 200m2 and can be converted into two apartments, with separate entries or in a villa with four suites.

The "Casa dos caseiros" ("House of the Caretakers") comprehends two detached 2 bedroom villas with 306m2.

The "Palheiro" ("Haystack") can be converted into a 255m2 house.

The "House of Malta 2", with a 2 bedroom apartment typology (165m2), stands out for its big fireplaces and a wood oven (to refurbish).

The "Adega" ("wine cellar"), from 1910, has been renovated. With more than 760m2, it includes a wine shop, open to the public, modern production equipment, bottling and warehouse.

The wine produced in this Estate was several times rewarded in France.

The Estate has an independent water supply, through three boreholes. Currently, it comprehends 8 ha of vineyards and a considerable number of cork trees, to extract cork, and olive trees.

With a privileged location, in the middle of the Natural Park, close to beaches and only 35 minutes from the Lisbon's airport.

This property offers a great touristic potential, not only rural but also winery tourism.

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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.