International real estate advisor Savills has been appointed by Oceanico Golf to sell the Vilamoura Golf Course portfolio in Portugal.
International real estate advisor Savills has been appointed by Oceanico Golf to sell the Vilamoura Golf Course portfolio in Portugal.
The portfolio comprises five championship courses: Oceânico Victoria which was host to the World Cup of Golf in 2005 and the Portugal Masters since 2007; Oceânico Old Course; Oceânico Pinhal; Oceânico Laguna and Oceânico Millennium.
All of the courses have been designed by internationally recognised golf architects, constructed and maintained to a high standard, and benefit from clubhouse facilities of commensurate quality. The five 18 hole courses range in length from 6,121 metres, par 72 to 6,251 metres par 72, occupying an overall area extending to 344 hectares.
On the Old Course the existing clubhouse and adjoining office have permission for redevelopment to provide a new building of 13,020 m2 which would accommodate new clubhouse facilities together with 126 holiday apartments.
In addition to the golf portfolio, there is a further beachfront development site on the edge of Vilamoura, close to the golf courses, which is available as a separate lot, or for development in conjunction with the golf courses. This 34,158 m2 site has permission for development of 166 apartments with central leisure facilities overlooking the beach.
Ian Simpson, director of leisure at Savills: 'This is one of the largest and most prestigious golf course portfolios in Europe. It is a highly profitable business, and offers further potential through the Old Course and Beachfront development sites, which will enable a purchaser to exploit the synergy between the golf courses and holiday apartment sales or lettings.'
