Real estate adviser Savills will represent the group in the sale of the portfolio, which includes two signature golf courses, over 300 holiday properties, leisure facilities and further development land.
Six out of the seven sites are in the Algarve region of Portugal and the portfolio offers the opportunity to acquire the existing trading businesses together with capital receipts generated through the ongoing sales of the holiday units.
The portfolio includes:
• The Amendoeiro Golf and Leisure Resort
• Belmar Spa and Beach Resort
• Baia da Luz Residential Resort
• Estrela da Luz Leisure Facilities
• Jardim da Meia Praia Leisure Facilities
• Flor do Mar Holiday Resort development site
• Royal Obidos Holiday Villa development site.
“We are delighted to bring this diverse portfolio to the market on behalf of our client,” said Ian Simpson, director in the leisure and trade related team at Savills.
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“The mixture of assets including leisure facilities, holiday accommodation, golf courses and development land makes this a unique opportunity for an investor.
“Not only will they be purchasing an established trading business with further growth potential, but also a substantial stock of built residential and holiday accommodation together with additional hotel and holiday development plots, which provide opportunities to expand the business over time.”
The largest asset in the portfolio is the Amendoeira Golf and Leisure Resort, which extends to over 630 acres, comprising 241 holiday homes, two 18-hole golf courses, additional sporting facilities, including a nine-hole floodlit par 3 golf course, a clubhouse and further land for development.
“In the last three years, we have seen a surge in our golf course and holiday business performance driven by the quality of our resorts and the enduring appeal of the Algarve as a European and international holiday destination,” said Chris Howell, chairman of Oceanico Group.
“Sale of the Oceanico portfolio will offer developers, operators and investors a rare opportunity to immediately capitalise on the strength of this market through holiday property sales and further growth in long-term trading performance.”