LAND WITH SEA VIEW UP FOR AUCTION FOR 12 MILLION

This is the first large-scale sea view land visible at the exit of the village of Castelo, Sesimbra. With 3.5 hectares, this property has potential for the tourism sector and represents an investment opportunity. Therefore, interested parties can make their offers at the Online Auction until April 24^th here.

The sale results from a divestment process, in partnership with LEILOSOC®, who is responsible for organizing the event. The Base Value of the property is € 12,000,000.00 and bids open the auction starting from € 8,000,000.00.

A Prior Information Request (PIP) was made in September 2023. Hence, it is possible to consult the general guidelines of the project that can be implemented on the land. Thus, the developed concept focuses on the categories of hospitality and permanent housing, combining the qualities of a hotel unit.

In summary, the submitted PIP includes a 7-story hotel building. Specifically, 4 floors are at road level and another 3 floors below it. This corresponds to the morphology of the land, according to its geometric configuration, sloping downwards.

Furthermore, ongoing work is being carried out with the Municipal Projects Office of the Sesimbra Municipality. The aim is to implement an aparthotel and 9 high-end villas.

Moreover, it is worth mentioning that the local classification of the Municipal Director Plan (PDM) is Tourism. The PDM is an indispensable legal instrument in the management of municipal territory. To that end, it defines the municipality’s strategic territorial development framework. It is also the reference for the preparation of the remaining municipal plans (Urbanization Plan and Detailed Plan).

Since the land is located at a high elevation, it enjoys both sea and mountain views simultaneously. Under those circumstances, it is the first property of this type with large dimensions visible at the village exit.

This urban building is positioned facing National Road 378, which connects Sesimbra to Lisbon. It is located 1 minute from the Sesimbra beach.

With tourism rates growing by 18% in 2023, the Setúbal Peninsula proves to be a safe bet. To summarize, Sesimbra definitively asserts itself as Europe's latest treasure.

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Article by Cloe Mattos by LEILOSOC® dated April 23^rd 2024