The Oceanico Group, represented by international real estate adviser Savills, has brought a portfolio of seven assets to the market. The portfolio includes two signature golf courses, over 300 holiday properties, leisure facilities and further development land.
The portfolio is comprised of; The Amendoeiro Golf and Leisure Resort, Belmar Spa and Beach Resort, Baia da Luz Residential Resort, Estrela da Luz Leisure Facilities, Jardim da Meia Praia Leisure Facilities, Flor do Mar Holiday Resort development site and Royal Obidos Holiday Villa development site.
Six out of the seven sites are in the Algarve region of Portugal, with the exception of the Royal Obidos Holiday Villa Development Site which is located on the west coast of the country, by the well-known Royal Obidos Spa and Golf Resort. The portfolio offers the opportunity to acquire the existing trading businesses together with capital receipts generated through the ongoing sales of the holiday units.
The largest asset of the portfolio is the Amendoeira Golf and Leisure Resort which is located near Alcantarilha. The complex, which extends to over 630 acres, comprises 241 holiday homes, two 18 hole golf courses, additional sporting facilities including a 9 hole floodlit par 3 golf course, an outstanding golf clubhouse and further land for development.
Ian Simpson, director in the leisure and trade related team at Savills, comments: “We are delighted to bring this diverse portfolio to the market on behalf of our client. The mixture of assets including leisure facilities, holiday accommodation, golf courses and development land makes this a unique opportunity for an investor. Not only will they be purchasing an established trading business with further growth potential but also a substantial stock of built residential and holiday accommodation together with additional hotel and holiday development plots which provide opportunities to expand the business over time.”
Chris Howell, Chairman of Oceanico Group, comments: “In the last three years we have seen a surge in our golf course and holiday business performance driven by the quality of our resorts and the enduring appeal of the Algarve as a European and International holiday destination. Sale of the Oceanico Portfolio will offer developers, operators and investors a rare opportunity to immediately capitalise on the strength of this market through holiday property sales and further growth in long term trading performance.”
Offers invited
Savills Oxford Justine Morris jmorris@savills.com +44 (0)1865 269024
Savills London Melissa Elibol melibol@savills.com +44 (0)20 7016 3814
Savills www.savills.co.uk