New high-end golf scheme in the Algarve

Sunday Business Post - Property Pages - Nov 4 2007
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The Residences at Victoria Clube de Golfe is a new high-end scheme from renowned Algarve developer André Jordan's firm Golf Estates Portugal.

The development is situated in Vilamoura, the golfing capital of the Algarve, and comprises 145 properties spread out over ten buildings directly adjacent to the Arnold Palmer designed Victoria course.

On offer are 130 square-metre two-bedroom apartments ranging from €510,000 to over €700,000. Three–bedroom apartments, ranging in size from 151 to 155 square-metres, are available from €565,000 to over €800,000. Furniture packages cost an extra €25,000 for two-beds and €30,000 for three-beds.

Private facilities for residents including a central piazza area with pool bar, lounge bar and snack bar, large outdoor and indoor heated swimming pools, a fully equipped gymnasium and a children's play area.

However, golf is the main draw. The Victoria clubhouse is a 75 metre stroll from the scheme and many of the apartments have views of the course. The Laguna and Millenium first tees are also within 500 metres of the development, while the Pinhal and Vilamoura Old Course are a short drive away.

All Residences owners and guests are guaranteed dedicated tee times and owners get half-price green fees across the five Vilamoura courses.


This October the Victoria course hosted the inaugural Portugal Masters golf tournament, which featured Darren Clarke, Rory McIlroy, Retief Goosen and Justin Rose. The course also hosted the 2005 World Cup of Golf. The five Vilamoura courses were bought by Irish developers Oceanico in March 2007 for €125 million.


The Residences properties feature full air conditioning throughout, underfloor heating in bathrooms, silent alarm systems, wiring for sound and broadband, secure card entry system, three metre high ceilings, Grohe taps and Siemens applicances.


A 24-hour concierge will help with tee-times, taxis, restaurants, laundry or babysitting services. Owners and guests can also access the facilities of the five-star Tivoli Victoria Hotel, which will be adjacent to the Residences site.


Two underground parking spaces and a secure underground storage area are included in the price of each property. Completion of the development is slated for 2009 and local finance can be arranged for non-Portuguese residents.


Owners wishing to rent must sign up to a fixed shared rental package. The developers predict an annual return after expenses of approximately €20,000 for the two-bed properties and €25,000 for the three-beds.


The planned town of Vilamoura was designed 35 years ago with the needs of the foreign visitor in mind. Its marina is the biggest in Portugal and its seafood restaurants, pavement cafes and nightlife attract holidaymakers and retirees all year around.


André Jordan is best known as the creator of Quinta do Lago, the nearby luxury development, where Denis O’Brien is one of many Irish owners.


Vilamoura is a thirty minute drive from Faro airport, which is linked to Dublin, Belfast and Cork by Aer Lingus and to Dublin and Shannon by Ryanair. Lisbon is a two and a half hour motorway drive away.


For more information, visit www.residencesvictoria.com.