Hipoges sells premium senior residence in Fundão

Hipoges sells premium senior residence in Fundão

Servicer Hipoges has announced the sale of a luxury senior residence in the parish of Orca, in Fundão. The value of the deal has not been announced, but the company says that "the transaction was finalised in the seven-figure range".

Located 20 minutes from the centre of Fundão, this 57-room, 120-bed complex is set in a 100,352 square metre plot. It has 8,491 square metres of gross construction area, 3,895 of gross dependent area and 4,595 of gross private area. In addition to the bedrooms, it also includes 3 independent residential units.

Luís Filipe Silveira, Director of Real Estate at Hipoges in Portugal, said in a statement: "Surrounded by natural landscape, providing a sense of tranquillity and well-being, [this asset] has the potential to develop various business areas that can range from a health and wellness centre, to a hotel with spa and leisure areas, to a senior residence or even a rural tourism venture."

He believes that "this sale reflects that the property market is still moving at a positive pace, especially with the quality of assets like these for sale", adding that "this is a property investment opportunity in the north and interior of Portugal that demonstrates that there is space, property and business opportunities in other parts of the country, outside the urban area".

Hipoges has invested in diversifying its property portfolio, "in order to strengthen its presence in the Portuguese property market and capture the interest of both individuals and investors".

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