Algarve luxury resort Quinta do Lago could be on the market. The Resident has received information confirming that two approaches from potential buyers have been made but, at this stage, it is not yet certain whether the resort is officially on the market. Other sources have revealed the asking price for Quinta do Lago is €220 million.
As the story develops, the Algarve is alive with rumours regarding the potential sale but apart from the confirmation received at the Resident that two approaches have been made, little more has been revealed, except that negotiations are still at “a very early stage” and that it is uncertain whether or not Denis O’Brien will sell.
Quinta do Lago has been owned by O’Brien since 1998, when it was taken over from British food entrepreneur David Thompson.
The resort was originally built by renowned property developer André Jordan in 1971.
See this week’s Algarve Resident newspaper for the full report.