Atlantico` Apartments in Portimão - Bridgehead Capital

Sale of Prime Real Estate ‘Oceano
Atlantico’ Apartments in Portimão,
PORTUGAL
Prime Real Estate Investment
October 2013
TABLE OF CONTENTS
1
OCEANO ATLANTICO, Portimão:
2
OCEANO ATLANTICO - Unit Price List: How much will it cost?
3
How will the investment perform?
4
OCEANO ATLANTICO - Managed
Service:
Why Portimão in the Algarve?
5
Contact information:
What next? How do I buy one?
6
Photo gallery of: OCEANO
ATLANTICO:
What does it look like?
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What is the Product?
Why not somewhere else in Europe?
1. OCEANO ATLANTICO - Portimão:
Oceano Atlantico (OA): OA combines architectural style with innovative design and high quality construction and includes many amenities
on site.
Oceano Atlântico is a modern tourist complex with thoughtfully designed apartments for those travelling on both business and pleasure The
Oceano Atlantico apartments are ideally situated 5 minutes from Praia da Rocha beach and the centre of Portimão town. The town itself is
only 40 minutes drive from Faro International Airport and only 100 kilometres from the Spanish border, making the whole of Algarve easily
accessible. Being on a hill, all the 160 apartments either have a sea view or a view over the town of Portimão.
The complex is very well equipped for holiday makers with a football field, outdoor swimming pool with its poolside bar, where during the day
guests can enjoy light meals, delicious desserts and ice creams. Adjacent to the main swimming pool there is a children’s playground. The
complex provides free parking either at the front of the building or in garage below. As well as this free wifi is available throughout the
complex.
Should purchasers or guests not wish to walk into town or cater in their apartments, they can enjoy dinner in the Oceano Atlântico restaurant
à lá carte “Levante” at nightfall where international and the Algarve s delicacies are served. In addition to the restaurant, there is also a lounge
bar, “The Blue Ocean” serving an extensive range of drinks.
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2. Availability & Price List at OCEANO ATLANTICO:
Oceano Atlantico Qualifying Properties:
Bridgehead Capital have secured an exclusive deal on a number of
apartments within this resort at prices between € 58,600 and € 73,900 for a
T1 (see page 8 for price list).
There is a negotiated Pricing Package which follows, containing
details of the discounts and features that are included with
each sale.
Plans and specifications for the real estate units that are
available for purchase are also enclosed in this section.
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a. Negotiated Pricing Package for OCEANO ATLANTICO:
The Deal: Bridgehead has negotiated an exclusive opportunity for potential buyers on the Oceano Atlantico which includes a substantial
discount to the normal sales price.
Exclusive to this package are:

Purchase price: Priced at realistic levels see price list on page 8.

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Guaranteed Rental return: (1.65 % for the first three years followed by 2.5% for the second three years). A six year rent guarantee.(*
please see Appendix 1 for schedule of payments).
Purchase costs’ to be paid by purchaser: (IMT, notary, stamp duty, registration fee) costs between 6-8% of the purchase price (% cost
based on purchase price.
Legal fee: Payable by the purchaser and set at €1000 including VAT

Full repair & replacement Furniture package included.

All fixed running costs paid for the first 6 years: including Condominium fees, reserve funds, IMI tax, building and contents insurance,
administrative and management fees, fixed utility charges (electricity, water, gas, Cable TV, and internet).

Free personal usage of 6 weeks per annum: between 15th September and the 15th July.

b. Plans & Specification at OCEANO ATLANTICO:
Specifications, Plans & Views: Oceano Atlantico is a recently developed and modern tourist complex that has been designed for the
comfort of both business and leisure travellers. The resort has been built with very high building specifications and to a high quality finish that
will impress buyers. All the spacious apartments have been designed to either have sea views or views over the town, which, from its elevated
position, are impressive.
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Apartments: All the properties come with very high specifications and quality of white goods. In all the real estate units you can expect:
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Air-conditioning that both heat and cool.
LCD Television.
Direct dial telephone
Fully fitted kitchen with equipped with glass ceramic hob, electric oven, microwave, dishwasher, washing machine, fridge freezer.
Hair dryer
High Security locks
Safe
All furniture included
Each apartment has its own veranda or terrace.
Free Wifi throughout
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T1 Plan
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c. Prices & Availability:
Type
Floor
Fraccao
Apartment
Number
Living Area M²
Balconies & Parking
Place M²
Parking Places
Price €
T1
3
EP
311
50.20
26.35
1
€ 55,800.00
T1
2
DF
215
49.15
29.60
1
€ 65,500.00
T1
2
DX
231
60.20
31.10
1
€ 67,800.00
T1
3
FA
320
49.25
24.50
1
€ 62,800.00
T1
3
FC
322
49.25
23.65
1
€ 62,800.00
T1
4
GS
424
50.30
24.15
1
€ 60,800.00
T1
4
GX
428
49.25
23.55
1
€ 56,900.00
T1
4
HA
430
50.25
23.60
1
€ 60,600.00
T1
5
HI
504
60.20
28.50
1
€ 66,900.00
T1
5
HU
515
48.95
23.60
1
€ 64,100.00
T1
5
HZ
518
49.25
23.90
1
€ 59,600.00
T1
5
ID
522
50.30
24.20
1
€ 61,900.00
T1
5
IH
526
49.25
23.65
1
€ 60,600.00
T1
6
IT
607
50.20
24.15
1
€ 65,600.00
T1
6
IU
608
60.20
28.80
1
€ 67,000.00
T1
6
JI
620
50.20
24.50
1
€ 61,900.00
T1
5
IB
520
49.25
24.55
1
€ 60,600.00
Reservation Procedure: Once a plot has been selected it will be held for 7 days pending the completion of the reservation agreement and
payment of the 5% deposit. Once this has been executed, Bridgehead will send back the signed agreement as a receipt. You will then be put in
touch with the lawyer who will start on the Property Conveyance on submission of the completed documentation.
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For further information and/ or to reserve a property, please contact any of the team below:
Attn: Peter Lowe
Mob UK: 0044 (0)7775 948 785 Mob Portugal: (00351) 911075512
[email protected]
Attn: Ceri John
Mob: 0044 (0)7501 056 394
[email protected]
3. Managed Service – The Investment in OCEANO ATLANTICO:
Bank Finance is Available for 100% of the purchase price. Mortgage finance is provided by Barclays Portugal. The mortgage application
process will be arranged exclusively through Bridgehead and will be charged at €500.00 at reservation for handling this process if required. The
mortgage application fee is non-refundable in the event that the potential purchaser fails in their mortgage application.
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100% Bank finance available
Up to 20 years repayment term so as long the buyer doesn’t exceed 65 years of age.
0.5% redemption payment for early repayment.
Mortgage arrangement / product fee 0.5% + 4% Stamp duty (minimum € 240).
Bank Conveyance fee of €246 (inc. VAT) payable at the preparation of the public Deed.
No Valuation fee
Please note that the rental income is subject to tax at the prevailing rate. You will be entitled to a minimum guaranteed
rental return for the first 6 years of ownership.
Projected rental income post year 6:
Seasons:
Standard € per week
High € per week
Occupancy estimate
January – June
July & August
2014
Dates:
September – December
T1
€
150
€
550
Notes: These figures have been prepared by Morningbridge and are provided for guidance only.
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36 wks
4. What does Portimão and the Algarve have to offer?
Why Portimão & the Algarve: Investment purchasers are aware that Portimão, which can be easily reached in around three hours via
direct flights from the UK, Ireland and mainland Europe, is an ideal alternative to long haul destinations for sun seekers, offering near year
round rental opportunity as well as a superb second home location.
Location:
LOCATION OF OCEANO ATLANTICO APARTMENTS
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Facts on Portimão: Situated on the southern coast of Portugal the Algarve and Portimão enjoy a warm climate all year round with sea
water temperatures between 17⁰C to 23⁰C. The apartments occupy a hill in the town with spectacular views out to sea or over the town itself
towards the marina. Portimão is is rightly famed for its sea food restaurants, and the quality of its beaches but should the sea not tempt you
there are over thirty-five golf courses within an hour and a half’s drive.
Airlift / Airways Frequency: There are frequent flights to and from all over mainland Europe which include the following airlines: TAP,
EasyJet, British Airways, Ryan Air, Air Berlin, Thompson, TUIFly, Condor, Jet2, Monarch, Lufthansa.
Traditional Peak/Low Seasons: The traditional peak season for the Algarve is July and August during which you can expect near to 100%
occupancy of your investment. The shoulder months of June and September also prove popular with foreign tourists looking for the sun and
during the low season there are always visitors looking to play golf or just escape the harsher north European winter.
Things to see and Do: Activities available in the Algarve include the following:
Activities
Swimming
Activities
Boat Trips
Activities
Canoeing
Snorkeling
Diving
Wind Surfing
Tennis, Football
Sport Fishing
Sailing
Golf
Horse Riding
Surfing
Paragliding
Football matches
Go-Karting
Events & things to do:
Shopping (either in Portimão or nearby Faro)
Fish Markets
Boat Trips up the Arade River to Silves
Portimão Sardine Festival (August)
Beaches
Restaurants and Clubs, Nightclubs
Nature Parks and Marine Reserves
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Temperatures/Climate:
January February
March
April
May
June
July
August
September
October
November
December
High
⁰C
16
16
17
19
22
24
27
27
26
22
19
17
Low
⁰C
10
10
11
12
14
16
18
18
18
16
13
11
5. What to do Next?
Attn: Peter Lowe
Mob UK: 0044 (0)7775 948 785 Mob Portugal: (00351) 911075512
[email protected]
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Attn: Ceri John
Mob: 0044 (0)7501 056 394
[email protected]
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Appendix 1 – Schedule of Rent Guarantee Payments
31 July of each year
10% of the total rental amount of each year
31 August of each year
15% of the total rental amount of each year
30 September of each year
20% of the total rental amount of each year
31 October of each year
20% of the total rental amount of each year
30 November of each year
20% of the total rental amount of each year
31 December of each year
15% of the total rental amount of each year
Bridgehead Capital Ltd. Company number 6942009 (BCL). BCL takes all reasonable care to ensure that the information contained in all of its
documentation is accurate and all details provided are for guidance only and any investment models, cost projections, photographs, floor plans, sizes and
specification are subject to changes and only give a general indication of the property. BCL cannot warrant the accuracy, adequacy or completeness of the
information and expressly disclaims liability for errors or omission therein. It is the responsibility of the purchaser/ investor to take such legal and
financial advice as they think fit bearing in mind the nature of the investment.
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