A Thrilling Investment Opportunity
Luxurious Apartments at the Radisson Resort & Spa on the ‘Autodromo do Algarve’
International Racetrack, Portugal
Index • An Exciting Opportunity 05
• The Investment 07
• Autodromo Internacional do Algarve 09
• The Circuit 11
• The Interiors 12
• The Property 13
• Pricing And Terms 15
• Purchasing And Ownership Structures 17
• Financial Projections 19
• The Algarve 23
• Existing And Future Developments in Portimáo 25
• International Sport In Portimáo 27
• Frequently Asked Questions 29
• International Development Team 33
• Disclaimer 35
• Floor Plans & Features 37
An Harte Holdings, an experienced international property group,
www.harteholdings.ie, is thrilled to bring you one of the most exciting
Exciting investment opportunities available in the market. Situated in the
Algarve International Motor Racing and Technology Park Complex,
Opportunity Radisson Residence Portimáo offers the ultimate combination of luxury
and excitement, www.autodromoresidences.com.
Become an envied owner in the only apartment facilities on the
International race track. Managed & marketed by Rezidor under the
Radisson SAS brand, there are only 160 apartments in the resort. This
exciting product comes with a guaranteed return on your investment.
The Unique opportunity to benefit from the €200 million investment in the most
modern and significant motor racing and technology park complex in
Investment Europe, launching with the World Super Bike Championship November
• The combination of an excellent climate, world-class location on the
popular Algarve and superb facilities provide an ideal environment
for business and tourism, giving the best guarantee of capital
appreciation for your investment.
• Deloitte feasibility study projects an additional one million visitors per
year when the track opens in November 08. The analysis supports
the business case, identifying the individual, corporate, national and
international target markets.
• The business focus will be on the lucrative MICE segment (Meetings,
Incentives, Conferencing and Exhibitions)
• The complex has already signed commercial deals with A1GP, GALP,
TMN National Mobile Telecommunications, IDP Portuguese Institute of
Sport, Portuguese Tourism Board and Radisson SAS among others (Aug
• 60,000m2 technology park, of which 60% is already booked for
branded motor-industry product (Aug ‘08).
• Capital growth currently averages 8-10% per annum in the Algarve (Aug ‘08).
• Projected 7-year investment term generates an IRR of 20%.
• Securing F1 would lead to accelerated capital appreciation and
return on investment.
• Rental guarantee on all Residences.
• Residence owners benefit from Radisson Resorts & Hotels expertise
in maximising rental, while they maintain, manage and rent your
Radisson Residence property.
Autodromo Radisson Residences is one of the most unique real estate opportunities
in the International marketplace today. This multi-functional business
Internacional complex will host a broad range of national and international
commercial, sports and leisure events. The complex comprises:
• 5km FIA approved Formula 1 motor race circuit. Spectator capacity
for 100,000 and 10,000 VIP guests.
• 1.5km International standard Karting circuit.
• International standard off-road test and leisure facility.
• 60,000m2 Technology park / Innovation Centre.
• Sports Academy including full gymnasium, swimming pools,
treatment rooms, squash courts and multi-purpose playing facilities.
• Retail park including motor dealerships. 21 retailers already signed up
• Luxury Radisson 194-bed Hotel operated by Rezidor SAS Group.
• Leisure area including indoor and outdoor pools, state of the art spa
and wellness centre, tennis courts, children's play areas, activity trails,
golf driving range and access to golf courses.
• 160 luxury apartments.
JANUARY 2008 APRIL 2008
AUGUST 2008 AUGUST 2008
The The project is destined to be a very significant driver of international
commercial and leisure business in the Algarve. Extending to 300
Circuit hectares, it is estimated to attract an additional one million visitors per
year to the Algarve. The Portuguese government strongly supports the
Autodromo Internacional do Algarve as a project of significant national
The Circuit enjoys a unique design thanks to the natural terrain of the
area - curves and straights follow each other at an exciting rhythm with
VIP Tower with 48 luxury suites plus a lounge and balcony area.
“Speed Box” packages include F1 driving experience with full training, off
road driving with full training, go-karting, super car driving and track days
for bikes and cars.
Confirmed events include:
• World Super Bike Championship - Nov' 2008.
• World Supersport Championship - Nov' 2008.
• FIM Superstock Cup – Nov' 2008.
• Spanish GT – Nov' 2008.
• Portuguese Touring Car Championship – Nov' 2008.
• A1GP – Apr' 2009.
• 7 World Events & 8 National Events scheduled per year - a significant
number of events are already agreed in principle and will be
announced in the coming months (Aug ’08).
The In purchasing a Radisson Residence, you have all the advantages of
owning a unique investment property, finished to a 5-star specification.
Property In addition to personal usage and access to luxury hotel facilities, the
property is expected to generate an impressive financial return.
Radisson Resorts & Hotels will manage and rent the residences using their
worldwide business channels and expertise to maximise your rental, giving you:
• Access to International advertising and marketing exposure.
• Hotel standard service for residence users
• Association with an internationally recognized brand.
• Relationships with all the major holiday companies
• The enormous experience of hotel and resort management from one of
the world’s leading, full-service global hotel companies, which operates,
manages and franchises more than 395 hotels and resorts in 65 countries.
• Owners will have access to their residence for 2 weeks per annum –
1 week from October to April and 1 week from May to September.
Additional or extended usage rights are available subject to conditions.
• Purchasers who would like the flexibility of having their apartment
available for personal use at all times can be accommodated
subject to conditions.
• Residences will be fully furnished to the same impressive standard as
the luxury Radisson Hotel.
• Excellent quality specification, including air conditioning.
• All apartments have substantial balconies with impressive scenic views.
• Ample parking with 160 underground parking spaces & additional
• Access to permanent storage.
Pricing GUARANTEED RENTAL INCOME.
• The hotel operating company will provide a rental guarantee on all
and Residences. Projections suggest the average rental yield for Residences
under management will be in excess of 5% per annum.
Contracts are available in Portuguese and English. A mortgage pack is
available offering purchasers 70-80% loan to value.
• €6,000 to reserve your Residence
• 25% on signing Promissory contracts
• The remaining balance on signing the deed of sale, which happens
on delivery of the finished apartment.
Apt. Bedrooms Number of Ground Floor First Second
Type Apartments Price Floor Floor
T1 1 39 €289,000 €294,000 €299,000
(c. 76m2) (c. 72m2) (c. 72m2)
T1C 1 9 €327,000 €332,000 €337,000
(c. 87m )
(c. 83m ) 2
T2 2 74 €389,000 €394,000 €399,000
(c. 101m )
(c. 96m ) 2
T3 3 36 €489,000 €494,000 €499,000
(c. 125m2) (c. 120m ) 2 (c. 120m2)
T3 Duplex 3 2 Price on Application, 198m 2
Purchasing PURCHASE PROCESS
• Reservation Agreement signed and €6,000 paid to reserve a Residence.
and Ownership • Promissory Contract signed and the agreed deposit paid.
Structures • Fiscal number obtained from the local tax office, completed by
your legal representative.
• 6.5% IMT tax (stamp duty) based on the purchase price of the
• Final Deeds expenses are payable at a rate of 0.8%.
• Legal fees are paid at a rate of between 1% to 1.5%, a more
favorable rate will be made available to Residence purchasers.
• Typical land registration fees are circa €250.
• Grants a 20 year Management Agreement to the Operating Company.
• Has 2 weeks free usage annually.
HOTEL OPERATING COMPANy
• Owned by Barry Harte Holdings Limited (Harte Holdings).
• Grants a 20 year Management Agreement to Radisson Hotels to
manage the hotel and apartments.
• Rental guarantee .
• Harte Holdings will monitor and manage the performance of
Radisson Residences and Hotel.
• Radisson will manage and market the apartments to maximize
income for owners.
Apartment Purchase Purchase Costs Total Finance Equity
Type Price Cost Purchase Available Requirement
T2 €395,000 €35,376 €430,376 €292,500 €137,876
PROjECTIONS PRE-TAx ANNUAL RETURNS
year Asset Projected * 7% Rental Mortage Community Cashflow ** Capital
Value Growth Rate Income Interest Fee Appreciation
1 €426,600 8% €27,650 + €12,431 €0 €15,219 -€3,776
2 €460,728 8% €27,650 + €12,431 €0 €15,219 €30,352
3 €497,586 8% €27,650 + €12,431 €0 €15,219 €67,210
4 €542,369 9% €37,966 €12,431 €2,500 €23,035 €111,993
5 €591,182 9% €41,383 €12,431 €2,625 €26,327 €160,806
6 €650,300 10% €45,521 €12,431 €2,756 €30,334 €219,925
7 €715,330 10% €50,073 €12,431 €2,894 €34,748 €284,955
* 17.5% effective income tax rate applies | ** 25% capital gains tax applies | Rate may change
Financial • Projections are based on the track establishing itself during
years 1-3 (growth rate of 8% P.A. projected), with accelerated
Projections appreciation thereafter due to high profile track activities.
• Based on projections, a 7 year investment term would generate an
IRR of 20%.
• Minimum 3 - 5 year plan for best return on investment.
• Excellent re-sale opportunity.
PROjECTED CAPITAL APPRECIATION.
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
The The Algarve enjoys 300 days of sunshine annually, and is a hugely popular
tourist destination. This is not surprising when you consider all of the
Algarve attractions the area has to offer:
• 200km of coastline with sandy beaches, private coves and modern marinas.
• Cosmopolitan towns with a huge variety of entertainment, shopping
• 34 world class golf courses in the Algarve region.
• Wide variety of activities such as fishing, aquatic sports, sailing &
horse riding nearby.
• International cuisine.
• Host to major international events.
• Interesting history and friendly culture.
• Portimáo, Lagos, Vilamoura, Albufeira and other popular destinations
are geographically close, conveniently catering for all tastes.
• Many major European capitals less than 3 hours away.
• Excellent infrastructure with a direct motorway link from Faro airport
to the Autodromo and hotel complex.
• Regular low cost and luxury flights to nearby Faro airport (40 minutes).
• Large scale investment in the area.
Porto de Branco
Golf do Lagos
IC4 A22 Alfarrobeiras Belmonte IC4 de Silves E01
Bensafrim N125 R125 N269
Aldeira do Ribeira
R125 Carrasco de Arade N125 IC4 A22
Horta de Sao
IC4 de Alvor N124-1 Monte
Ribeira de Raposo
Sargacal Odiaxere A22
Parchal Lagoa A22 IC4
do Farelo Portimao Pinta
Portelas Golf Ferragudo Porches
Armacao Quinta da
Lagos de Pera Saudade Vale de
N125 Vale de Santa Maria
Santa Maria Herdade dos Parra
Salgados Golf N395
Carvoeiro Terras Patroves
and Future • Ongoing improvement of beachfront facilities
Developments • New Ferragudo Marina (2011)
in Portimáo • Cruise ship harbour (2010)
• Aquarium (2009)
• Planetarium (2009)
• Autodromo International Algarve (2008 / 2009)
• New airport (2015)
• New sports complex (2009)
• Golf courses Alto Golf, Penina, Morgado do Reguengo, Alamos
• Sasha Beach, beach club, pool & restaurant
International • A1GP World Motorsport
Sport in • P1 World Powerboat Championships
Portimáo • International Beach Soccer Tournaments
• European Volleyball League
• Kite Surf World Tour
• Big Game International Fishing Contest
• Breitling Mediterranean Cup yacht Race
• Portugal Bicycle Tour
• Gymnastics World Cup
• International Show jumping
• Lisbon - Dakar Rally
• European Windsurfing Championships
Frequently WHAT ARE THE PAyMENT TERMS?
€6,000 to reserve your Residence, 25% on signing Promissory contracts and
Asked the balance on signing the deed of sale.
Questions WHO DO I MAKE A RESERVATION PAyMENT TO?
Propco Invest Turist Imobiliarios LDA, Aldemento Da Bemposta Lote 66
Apartdo 50 8501-909, Portimáo, Portugal.
WILL RESIDENCE OWNERS HAVE ACCESS TO RADISSON HOTEL FACILITIES?
yes, you will have access to all of the superb Hotel facilities.
WHAT IF I WANT TO USE My PROPERTy FOR MORE THAN 2 WEEKS?
It will be possible to stay at the Radisson Residences at other times subject
to the terms of purchasers rental agreements.
WILL THERE BE ANy NOISE POLLUTION FROM THE RACE TRACK FACILITy?
The complex has been designed to eliminate noise from the race track
through the use of the natural rolling terrain, ensuring that track noise is
ARE THE RESIDENCES FULLy FURNISHED?
yes, all Residences will be fully furnished by the Interior Design team to the
same standard as the Radisson hotel.
WILL THE BUILDINGS HAVE LIFTS?
ARE THERE ENOUGH PARKING SPACES FOR ALL RESIDENCES?
There are 160 underground parking spaces & ample surface spaces.
Frequently CAN I RENT My PROPERTy THROUGH OTHER RENTAL COMPANIES?
your Residence will be managed and rented out by a top International
Asked Hotel and Resort Management Organization whose strong business
relationships and Sales and Marketing abilities will maximize your returns.
Questions Under Portuguese law, only one organization can be involved in the
exploration of each touristic development.
WHAT ARE THE ADVANTAGES OF HAVING My PROPERTy MANAGED By A
There are many advantages to having your Residence managed by
Radisson. These include; having access to International Advertising
and Marketing exposure, Hotel standard service for Residence users,
Internationally recognized Brand, relationships with all the major holiday
companies and huge experience of hotel and resort management.
CAN yOU PROVIDE AN INDEPENDENT LAWyER TO ACT FOR ME?
A suitable firm will be recommended to act for purchasers.
ARE THE PROPERTIES FREEHOLD?
yes, the properties are freehold.
IS THERE A GUARANTEED RENTAL INCOME?
Harte Holdings, are offering a Rental guarantee on all Residences. The
Rezidor (Radisson) hotel group have signed a 20 year management
agreement to manage the Residences for purchasers. Rezidor's
projections suggest the average rental yield for Residences under its
management will be in excess of 5% per annum.
Frequently WHAT HAPPENS AT THE END OF 3 yEAR GUARANTEED RENT PERIOD?
Owners will have one of two options at the end of this period. They can
Asked avail of a pooled rent sharing structure. The rents will be pooled and
divided equally after Radisson Management charges. Alternatively, Harte
Questions Holdings will look to structure a further guaranteed rental agreement for
an agreed period.
HOW CAN I BE SURE THAT My PROPERTy IS BEING MANAGED TO THE
Harte Holdings have a specific Hotel division that manages its hotel
portfolio. There are currently ten hotels under management, 2 in Ireland,
4 In London and 4 in the US. There are a further 6 hotels in development
phase including the Radisson in Portimáo.
WHAT HAPPENS IF RADISSON FAIL TO PERFORM AS HOTEL MANAGERS?
The management agreement for the hotel and apartments allow for Radisson
to be exited should their performance not be up to the required standard.
CAN I RE-SELL My PROPERTy AT ANyTIME?
yes, you can sell your property whenever you wish.
IN WHAT CURRENCy ARE PAyMENTS MADE?
WILL CONTRACT DOCUMENTS BE AVAILABLE IN ENGLISH?
yes, however the official contract language is Portuguese.
CAN I GET FINANCE IN PORTUGAL?
yes. Specific banking arrangements are being negotiated to offer
purchasers the best possible conditions.
International Harte Holdings, www.harteholdings.ie is the resort developer for
the project. As a business, Harte Holdings delivers a comprehensive
Development and innovative portfolio of property development and investment
opportunities to business partners, investors and joint venture partners
Team across a range of project types and sectors.
Radisson Hotels & Resorts, www.rezidor.com is one of the world’s leading,
full-service global hotel companies, operates, manages and franchises more
than 395 hotels and resorts in 65 countries. Radisson is focused on being
the hotel of choice for today’s independent-minded frequent business and
leisure travellers who want more control over their hotel experience.
Parkalgar, www.parkalgar.com is the Portuguese company which owns
the Autodromo Internacional do Algarve and will be managing it. Paulo
Pinheiro, CEO, is the visionary and motor sports fanatic driving the project.
The Mace Group, www.macegroup.com is one of the world’s most
accomplished consultancy and construction firms, with a reputation for
finding the best solutions to complex property and real estate challenges.
Intergaup, www.intergaup.pt are the architects providing creativity, quality
and the best spatial design, with over 20 years of professional experience
on a huge range of leisure, commercial and residential projects.
Bemposta and Hagen, www.hagen.pt are international standard
construction companies with an excellent reputation in Portugal.
the Algarve’s largest, most
“When this project is completed in late
October, I’m certain the number of visitors
to our country will increase. Whereas
we recorded a record level of visitors in
2007, this number is certain to increase in
future as a result of this new asset. The
project will have a significant impact on the
local economy and therefore also on the
Dr. Manuel Pinho, Minister of the Economy and Innovation
Disclaimer All information provided in this presentation is given on behalf of Harte
Holdings. It is provided without responsibility or any warranty as to its
accuracy or completeness on the part of Harte Holdings’ employees,
agents, solicitors, and other advisors and their respective directors,
partners and employees. The information is believed to be correct only
the actual (not constructive) knowledge of the project. Furthermore, there
is no guarantee or warranty as to future performance and/or profitability
of any business carried on at The Property.
Without prejudice to the generality of the above, the accuracy of the
information provided herein is not guaranteed and does not obviate the
need for any interested party to carry out all necessary due diligence
and also to carry out all appropriate searches, enquiries, surveys and
inspections as they consider appropriate. In accordance with the
Misrepresentation Act 1967 and the Property Misdescriptions Act 1991.
Harte Holdings hereby give notice that:
I. This presentation does not form party of any offer or contract, and must not
be relied upon in whole or in part as statements or representations of fact;
II. No director or partner in any person in the employment of Harte
Holdings has any authority to make or give any representation or
warranty whatever in relation to the Property;
III. Floor areas, measurement or distances given are approximate. Unless
otherwise stated, all prices, rents, income, outgoings and other figures
quoted are exclusive of VAT;
IV. Any description given of the Property cannot be taken to imply it is in
good repair, has all necessary consents, is free of contamination, or that
the services and facilities are in working order. Interested parties are
advised to carry out their own surveys and investigations as required.