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Topic ClosedThe Green tiled building is for sale

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Big Col View Drop Down
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Direct Link To This Post Posted: 14/September/2014 at 13:16
Whilst the green tiled building has been for sale for at least 6 years, I see there is a Sotherby's sign on it now. Anyone fancy a cheeky bid??
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Direct Link To This Post Posted: 14/September/2014 at 13:56
It would be lovely if someone restored it, I was looking through photos last night, found one of the green tiled building in Lagos, it is beautiful, how wonderful if the one mentioned was bought over and lovingly restored, a romantic notion methinks, oh well
my beautiful portugal
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Direct Link To This Post Posted: 14/September/2014 at 14:34
Allison Backus, who with her husband, Heino, owns Bizarro Bar was telling me that no one could ever buy the green tiled building because there is a city code which dictates the façade be maintained in the original tile which is not possible because all of the tiles are gone. In a country which produces tiles so prolifically, it shouldn't be all that difficult to replicate the green tiles. I don't know if that is true, but I do know that that building has been an eyesore for decades. It would be lovely if it could be turned into a private residence. Failing that it should be turned into a Pensao, with the front door on the street side. Anything would be better than what it was...a crash pad for drug addicts and a party house. I would LOVE to see the current price tag. I would not be surprised if "O Diaz" or "Sao Vicente" were to buy that house
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Direct Link To This Post Posted: 15/September/2014 at 08:12
Thanks very much for that interesting information, such a shame.
my beautiful portugal
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Direct Link To This Post Posted: 15/September/2014 at 09:19
Description of the green house on Sotheby's website

House opposite the famous and central beach aproximately in Albufeira. Very prime location 1st line of sea with fantastic views and direct beach access, on foot or by modern panoramic elevator. This property is sold together with another house located behind, allowing a build up to 700m2 with garage. Opportunity to own housing, or a charming hotel.
Purpose :Venda
Type of property :House
State :Second hand
Sale price :€ 1.1 million
Reference :105140073
District :Faro
County :Albufeira
Parish :Albufeira
Zone :Central - Albufeira
Region :Algarve
Market esp. :Water Front
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Direct Link To This Post Posted: 15/September/2014 at 10:12
Wow
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Direct Link To This Post Posted: 15/September/2014 at 13:44
Lucyr - your search is over!
com amor e cumprimentos Donna x
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Direct Link To This Post Posted: 15/September/2014 at 15:11
Wow. Thanks for the information. I am shocked at the price. The building is a complete ruin. I can't imagine what it would cost to replicate the green tiled façade! My understanding is that there is a code in place which dictates that whomever purchases that piece of property must do that.
Boa Sorte to the buyer.
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Direct Link To This Post Posted: 15/September/2014 at 16:08
That is over double the last asking price that was mentioned,all in a time when property prices there are stagnent.
No doubt it would make a magnificent residence,but at what overall cost?
He Who Dies With The Most Toys Wins
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Direct Link To This Post Posted: 15/September/2014 at 16:32
Neil, previous price was the same, it was €550k for the front building and the same for the rear one, this price is for the two together so same price me thinks!
 
There is mention much earlier in the thread of the, or a, guy owning two restaurants in the Square plus two others, that will likely be Mr Carlos, he's also got a building/construction company but new build villas are more his line, apart from the annual rip out and refurb of Bank that is! (That's one of his also).
Andrew
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Direct Link To This Post Posted: 15/September/2014 at 18:25
Thanks Black Cat, a wee bit out of my league
my beautiful portugal
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Direct Link To This Post Posted: 15/September/2014 at 20:17
I always went to bizarro next door many years ago with my mum and always had my eye on that building can't believe the price !! Think their having a laugh I know seafront has a premium but that's a joke !
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Direct Link To This Post Posted: 17/September/2014 at 11:06
Originally posted by Andrew Andrew wrote:

Neil, previous price was the same, it was €550k for the front building and the same for the rear one, this price is for the two together so same price me thinks!
 
There is mention much earlier in the thread of the, or a, guy owning two restaurants in the Square plus two others, that will likely be Mr Carlos, he's also got a building/construction company but new build villas are more his line, apart from the annual rip out and refurb of Bank that is! (That's one of his also).
OK,thats where I got it wrong then.I dont think it will sell anytime soon,price is far too high.
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Direct Link To This Post Posted: 17/September/2014 at 20:55
I have to agree with you Neil.
Only chance is if one of the big hotel groups, who can justify a several year cash flow plan, and they really value the location, then they may well stump for such a price. Otherwise, for the average sane folk, investor, businessman, not a prayer!
Andrew
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Direct Link To This Post Posted: 19/March/2016 at 08:43
I noticed yesterday that part of the roof has collapsed. It won't be long before it becomes dangerous. Then the council can demolish it as a danger to the public.




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