They jointly moved forward in 2019 to buy the Herdade da Comporta tourism assets, but Vanguard and Amorim Luxury have now reached an agreement to split the projects they had in common.
Vanguard Properties and Amorim Luxury have agreed to separate the projects they had in common in Comporta, according to Jornal Económico. In 2019, both companies bought the tourism assets that belonged to the Herdade da Comporta Closed Real Estate Special Investment Fund – the Comporta Links and the Comporta Dunes, but will now move forward separately.
The deal involves the sale of 50% of the Impeccable Percentage, constituted in equal parts by the two companies, to Vanguard. Amorim Luxury receives €5 million and keeps the concession of the restaurant that supports Pego beach, in Carvalhal (Comporta), and the respective car park, and an area of around 100 hectares of the forest ring, from the Sal restaurant to the land that already belongs to Amorim Luxury, part of which is on the beachfront.
Now, the agreement needs approval and confirmation by the financing bank, Caixa Geral de Depósitos, the newspaper adds.