Historic €5 Million Estate with Vineyard and Tourism License For Sale in Dão Wine Region
A historic 17th-century estate in Mangualde, in the heart of the Dão demarcated wine region, has been placed on the market for €5 million. The property, which includes a manor house, a 12th-century chapel, extensive vineyards, and an active rural tourism license, is being presented as a significant investment opportunity by Encanto Real Estate, an agency specializing in properties in Portugal's interior. The estate was fully restored in the year 2000 after being left in ruins for 20 years and has since operated as a luxury tourism destination.
The investment thesis is centered on the property's diverse potential revenue streams. The 130-hectare estate includes five hectares of established organic vineyards with grape varieties such as Touriga Nacional, Tinta Roriz, and Encruzado. There is approved planning for an additional 33 hectares of vineyards to be planted, offering substantial growth for a wine production venture. Tiago Grácio, founder of Encanto Real Estate, stated that the current owner “restored all the buildings and planted vineyards,” creating a foundation for a new owner to build upon. The property includes a fully equipped winery with concrete fermentation vats, granite presses, and French oak barrels, which could be reactivated to produce and market wine under the prestigious Dão designation.
The target property type is a high-net-worth individual, a corporate entity, or a hotel group seeking a landmark asset with historical and commercial value. The main manor house spans 1,793 square meters and contains seven suites, a piano room, a large dining hall, and a rustic kitchen, making it suitable for hosting large family groups or corporate events. In addition, there are five secondary houses, bringing the total accommodation to 16 rooms. Grácio explained, “To use it for tourism, you need to rent the entire property. It is basically intended for large families or companies.”
Projected returns could be generated from the existing tourism business, expansion of wine production, and leveraging the estate's agricultural potential. The property is located in one of the few areas authorized for the production of the Maçã-bravo-de-esmolfe apple and is within the geographical area for Serra da Estrela cheese production. These factors, combined with the property's natural beauty, including its border with the Dão River and numerous natural springs, support a premium hospitality and agricultural brand. The expected investment timeline for realizing the full potential of the winery and expanded vineyards would be medium to long-term, though the tourism business provides immediate income.
Risk factors include the operational challenges of managing a large agricultural and hospitality estate and the market dynamics of the European wine industry. However, these risks are mitigated by the property's prime location, its historical significance, and the established infrastructure. Grácio noted that the market conditions are favorable, highlighting a significant trend. “In the last four years, the increase in younger people interested in investing in the interior is impressive,” he said. “Most of my clients are Portuguese or foreigners between 30 and 40 years old.” This indicates a growing market of buyers looking for authentic, high-quality assets outside of the main coastal cities.
Comparable investments in other European wine regions with similar historical pedigrees and infrastructure often command higher valuations, suggesting this property is competitively priced. Due diligence would involve a thorough assessment of the agricultural assets, tourism licenses, and potential for brand development. Financing options for such a unique asset could be explored through private banking and specialized agricultural lenders. An exit strategy could involve selling the enhanced and branded operation to a larger hospitality or wine conglomerate in the future. The regulatory and tax implications for foreign investors would need to be carefully reviewed, but Portugal's framework is generally favorable for significant capital investments. Explore investment strategies and opportunities at realestate-lisbon.com.
