The Leacock group is developing a new 5-star hotel in Aljezur, Algarve
27 Oct, 2009, Lisbon
The holding company Leacock Investimentos SGPS SA is to invest almost 14 million Euros in a new, five-star hotel in Aljezur, the group’s first hotel on the mainland.
The global real estate consultant Cushman & Wakefield (C&W) acted on behalf of the group in this deal, identifying the opportunity to purchase a 148-acre country estate on which to build the project, which already has planning permission.
The luxury hotel, located in the Malhões Canal area, close to Canal beach, will have 57 double rooms and two suites, with a total of 118 beds, a SPA with a swimming pool, two outdoor swimming pools, a biological pool, a forum with restaurants, a bar and an esplanade. The Bugio office is in charge of the architectural project, coordinated by the architect João Favila Menezes.
In future, the hotel hopes to become a benchmark for tourism in the Algarve, reinforcing the group’s incursion into the top-of-the-range tourism industry, aimed at the most demanding clientele with high purchasing power. This investment is part of the Leacock Group’s strategy of expansion into the hotel sector, following the same lines and concept as the benchmark units it already holds in Madeira, Qinta dos Jardins do Lago and Quinta da Casa Branca.
According to Jorge Aníbal Catarino, partner and head of C&W’s hospitality team in Portugal, “We were delighted to provide decisive support to the Leacock Group’s strategy of developing a network of luxury, 5-star resort hotels, enabling them to diversify their portfolio of shareholdings and to spread the risk geographically. Although C&W is most frequently instructed to act for the vendors when brokering hotel deals, it is nonetheless gratifying to act on behalf of investors with strategic vision and high-quality projects such as those of the Leacock Group”.
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