Circa €9-10M (Land & Development Rights) | Circa €65-70M Total Project A rare opportunity to develop a landmark estate of circa 300 hectares in the Alentejo — Portugal's most authentic wine region, roughly an hour from Lisbon. The estate centres on a historic palace and traditional winery, set among vineyards, cork forest, and a private lake, in a region averaging 300+ days of sun a year. The project integrates three pillars — hospitality, wine, and agroforestry. Hospitality — Transformation of the historic palace into an ultra-luxury resort of up to circa 85 keys across suites, villas, and glamping. Signature spa, multiple F&B outlets, and a premium international hotel brand already secured to operate. Wine — Revival of the estate's traditional winery into a boutique enotourism experience across circa 40 hectares of vineyard, producing on the order of 150,000 litres annually, with a full visitor programme and wine club. Agroforestry — Circa 200 hectares of cork and holm oak, olive groves, and organic livestock, already generating income and eligible for EU subsidy support. Investment Case Land and development rights priced at circa €9-10M; total project cost (land plus construction) in the region of €65-70M. Estimated stabilised NOI of circa €12M. Target levered IRR in the region of 30% over a multi-year hold, with an estimated net exit value in the region of €155-160M. Additional upside: a further parcel of adjacent land suited to branded residences, not included in current projections. Licensing well advanced, hotel brand partnership in place, and an experienced development team available to stay on through completion.