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Exceptional Beachfront Property in Meia Praia, Lagos, Algarve
Lagos, Portugal
REF: 921021
€1,117,000
Description
This extraordinary property, perfectly situated on the beachfront of Meia Praia, offers a rare and versatile opportunity, whether you are seeking a thriving business or envisioning a stunning coastal home with breathtaking sea views. It used to operate as a restaurant within an exclusive development; the property spans two spacious floors plus a large basement, with approximately 30sqm dining rooms on each level. The first floor boasts an elegant, fully glass-enclosed terrace, adding an additional 27sqm, ideal for enjoying the panoramic ocean views in all seasons. The property is fully equipped for a restaurant business, featuring a professionally fitted industrial kitchen, a pantry, a bar, and bathrooms tailored for both staff and guests. The ample basement provides extensive storage space, including areas for refrigeration, a wine cellar, and more, making it ready for immediate operation. Dumbwaiter from top to bottom. For those envisioning a luxurious beach home, the current owners have already secured town hall approval for converting the property from a restaurant to a private residence. This offers the exciting potential to create a fantastic home with at least three en-suite bedrooms, a study, a spacious kitchen, a utility room, pantry, and a large open-plan lounge. Obviously, the expertise of a good architect should be required for this purpose. With the possibility of adding a pool, this would provide ample outdoor living space to enjoy the incredible Algarve climate. The basement could be transformed into a wine cellar, gym, games room, or additional storage, depending on your needs. The property has a cobbled stone walled backyard, and the front deck is ideal for al fresco dining or relaxing while gazing at the sea. Imagine stepping out your door, crossing the street, and having your feet in the sand of one of the most beautiful beaches in the Algarve (5km long ideal for winter walks). Conveniently located just 1.8km from the Marina roundabout and only 800 meters further to reach the town of Lagos, this property offers the perfect balance of tranquility and accessibility. For those who enjoy walking, the vibrant town centre is just a short 2.3km stroll away. Whether you re seeking a spectacular seaside home or a unique restaurant ready to be reinstated, this is a truly special opportunity to own a piece of paradise on the Algarve coast.
This extraordinary property, perfectly situated on the beachfront of Meia Praia, offers a rare and versatile opportunity, whether you are seeking a thriving business or envisioning a stunning coastal home with breathtaking sea views. It used to operate as a restaurant within an exclusive development; the property spans two spacious floors plus a large basement, with approximately 30sqm dining rooms on each level. The first floor boasts an elegant, fully glass-enclosed terrace, adding an additional 27sqm, ideal for enjoying the panoramic ocean views in all seasons. The property is fully equipped for a restaurant business, featuring a professionally fitted industrial kitchen, a pantry, a bar, and bathrooms tailored for both staff and guests. The ample basement provides extensive storage space, including areas for refrigeration, a wine cellar, and more, making it ready for immediate operation. Dumbwaiter from top to bottom. For those envisioning a luxurious beach home, the current owners have already secured town hall approval for converting the property from a restaurant to a private residence. This offers the exciting potential to create a fantastic home with at least three en-suite bedrooms, a study, a spacious kitchen, a utility room, pantry, and a large open-plan lounge. Obviously, the expertise of a good architect should be required for this purpose. With the possibility of adding a pool, this would provide ample outdoor living space to enjoy the incredible Algarve climate. The basement could be transformed into a wine cellar, gym, games room, or additional storage, depending on your needs. The property has a cobbled stone walled backyard, and the front deck is ideal for al fresco dining or relaxing while gazing at the sea. Imagine stepping out your door, crossing the street, and having your feet in the sand of one of the most beautiful beaches in the Algarve (5km long ideal for winter walks). Conveniently located just 1.8km from the Marina roundabout and only 800 meters further to reach the town of Lagos, this property offers the perfect balance of tranquility and accessibility. For those who enjoy walking, the vibrant town centre is just a short 2.3km stroll away. Whether you re seeking a spectacular seaside home or a unique restaurant ready to be reinstated, this is a truly special opportunity to own a piece of paradise on the Algarve coast.
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Currency Exchange
Lagos, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,117,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,117,000 | £920,296 | £945,083 | £24,786 |
| Property Price € | €1,117,000 |
| Minimum cost in the last six months | £920,296 |
| Maximum cost in the last six months | £945,083 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £24,786 |
Lagos, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,117,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,117,000 | £920,296 | £945,083 | £24,786 |
| Property Price € | €1,117,000 |
| Minimum cost in the last six months | £920,296 |
| Maximum cost in the last six months | £945,083 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £24,786 |
The exchange rate on the day you make an offer on your property in Portugal will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £24,786 more.
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