Four Storey Building To Restore On Rua De Santa Luzia In Funchal, A Few Minutes' Walk From The City

Four-storey building to restore on Rua de Santa Luzia in Funchal, a few minutes’ walk from the city centre, on higher ground with open views over the city and the sea. Set on a 336sqm plot, it has its entrance and garage on the street and a large rear yard at ground-floor level. The building was once a guesthouse and retains its period character: ornate plaster ceilings, ceiling roses, wooden floors, an interior staircase, French windows and wrought-iron balconies. The rooms have high ceilings and plenty of natural light. The whole interior needs restoration work, making it a sound base for rehabilitation and added value. There is an architectural project at the licensing stage, which provides for the legalisation and adaptation of the building into nine accommodation units: six studios with kitchenette, two one-bedroom units and a two-bedroom unit on the top floor, with a garage, large rear balconies, and a water tank and porch in the yard. The status of the process and the building capacity should be confirmed with Funchal City Council. An opportunity for investors seeking an income-generating rehabilitation project close to the centre of Funchal. Gross area: 350sqm Land area: 336sqm Energy certificate: Exempt Ref: AU_AL_497 If you are a real estate consultant, do not hesitate to contact us for a 50%-50% partnership. Sousa D31 AMI 23602 (ref D3-AU_AL_497)