Faro Town House

INVESTMENT OPPORTUNITY IN FARO CITY CENTRE

Ruin + Approved Project for a 9-Bedroom Guest House with Swimming Pool, Courtyard, Garage & Rooftop Terrace

Property for sale comprising an existing ruin for complete reconstruction, together with an approved architectural project for a 9-bedroom guest house (T9). The planning permission has already been granted by the Faro City Council, with construction expected to commence in the near future.

Immediate Advantage for Investors

* Purchase a property with a fully approved project, avoiding months of planning and administrative procedures.
* Benefit from a high-potential investment with two possible development strategies:

* A 9-bedroom guest house in the heart of Faro.
* The possibility of converting the building into three independent apartments**.

Prime Location

Situated on **Rua Serpa Pinto**, within the Urban Rehabilitation Area (ARU), adjacent to Faro’s Historic Centre (Riverside Quarter), less than a 5-minute walk from the city centre and Faro Marina.

* Less than a 5-minute walk to the Old Town, Faro Marina, Rua de Santo António and the main shopping area.
* Located within the protected Riverside Quarter of Faro’s Historic Centre, next to the Convent of Santo António dos Capuchos**, a Public Interest Monument.
* The street has been completely renovated with new water and sewage infrastructure.

Project Details (Official Data)

Intended Use:** 9-Bedroom Guest House (T9)
Gross Construction Area:** 299.95 m²
Plot Size:** 160.20 m²

The approved project includes:

* Garage (20.55 m²)
* Swimming Pool (8 m²)
* Panoramic Rooftop Terrace (71.60 m²)
* Private Courtyard (47.15 m²)
* 9 en-suite bedrooms, each with a private bathroom

Excellent Investment Potential

The proposed three-storey building layout also allows for the creation of three self-contained apartments, offering flexibility for different investment strategies.

The area enjoys strong and growing demand for:

* Boutique Guest Houses
* Premium Short-Term Holiday Rentals
* Long-Term Residential Lettings
* Resale as Separate Residential Units (subject to applicable regulations)

Ideal For

Property investors, developers and tourism entrepreneurs seeking a scalable, high-return project in the centre of the Algarve’s capital city.

Additional Tax Benefits

As the property is located within Faro’s Urban Rehabilitation Area (ARU), the project may qualify for significant tax incentives, including:

* Exemptions from certain municipal fees.
* Potential IMI and IMT tax exemptions.
* Reduced VAT rate of 6% on eligible construction works, subject to the applicable legislation.

Asking Price: Negotiable.

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