Monchique Council has foregone around €500,000 in property transfer tax, handing an exemption to a group of investors buying the Caldas de Monchique Spa Resort.

The Fladgate Partnership, Unlock Boutique Hotels and one of the companies that owns the Águas de Monchique bottled water business, have agreed to buy the site from the Fundação do Oriente.

News courtesey of http://algarvedailynews.com/news