House buy in Massarelos Porto

In the heart of the Douro Valley, you will find this old estate that sits on 27 hectares of land with wonderful views and a blank canvas for a brilliant business. Rural tourism is on the rise in the Douro Valley, and this property offers a great development opportunity to turn the existing buildings into a healthy ageing and wellness residence. The local municipality has already approved an architectural project for this estate by award-winning architect Carlos Castanheira. The pre-approved project has a first phase for 24 accommodation units with large common areas in a luxurious setting, and there is the possibility to expand to a further 16 units, six of them out of existing ruins on the land. Within the land, there is a small forest where five new units could be built. By the water, there is a river beach that will accommodate a dock and where a Beach Club will be built, as well as a further five units. The concept is based on a Wellness and Healing Retreat to house long-term and short-term guests. The vendors have extensive experience in this field and will provide support in the comprehensive development of the project. It is forecast to cost €8.5 million to complete from start to finish. Please enquire more to learn about the project, projected yields, and timelines. Ref: PP174389 Property Features Villa 24 bathrooms