Old Factory In Olhão Excellent Investment Opportunity Urban Rehabilitation Area Downtown Olhão

OLD FACTORY IN OLHÃO - EXCELLENT INVESTMENT OPPORTUNITY

We present an investment opportunity with enormous potential in the centre of Olhão: An old factory with 395 m² of implantation area, located in the heart of the city, a few minutes walk from the Marina of Olhão, Municipal Markets, riverside area and pier for the Islands.

The property stands out not only for its privileged location, but above all for its potential for the development of a residential development.

CONSTRUCTION POTENTIAL

A few years ago, this property benefited from an approved project for the construction of a 5-storey building, including:

- 9 apartments;
- Areas between 76 m² and 143 m;
- 1 T1 flat;
- 4 T2 apartments;
- 4 T3 apartments;
- Rooftop terrace of the building;
- 9 garages in box;

The photographs of the previously approved project are available in the announcement, allowing you to visualise the concept and development potential of this project, and are merely indicative.

**Important note:
The information regarding the previously approved project is merely indicative and does not dispense with the consultation and confirmation of all conditions, urban parameters and construction possibilities with the Municipality of Olhão, by the interested party/buyer.
The property will be sold in the state and condition it is currently in, without conditions.

A PRIVILEGED LOCATION IN THE CENTRE OF OLHÃO

Inserted in the heart of downtown Olhão, this property is located in an area with a strong Algarve identity and in constant appreciation.

A few minutes’ walk away you will find:

* Olhão Marina
* Municipal Markets
* Embarkation pier for the islands of the Ria Formosa
* Riverside area
* Restaurants and traditional shops
* All services and amenities of the city centre

In addition, it is part of an ARU - Urban Rehabilitation Area, and can benefit from the incentives and tax benefits applicable to urban rehabilitation, in accordance with the legislation and conditions in force.

AN OPPORTUNITY FOR INVESTORS AND DEVELOPERS

Olhão has been asserting itself as one of the most sought after destinations in the Algarve, both for residence and investment, benefiting from the proximity of the Ria Formosa, its islands and an increasingly valued riverside area.

The combination of central location, property size, ARU framework and the history of a previously approved project for 9 apartments makes this former factory a particularly interesting opportunity for those looking for a property with potential for rehabilitation and development of a new residential development.

A DIFFERENTIATING OPPORTUNITY IN OLHÃO

If you are looking for a property to develop a real estate project in the heart of Olhão, this old factory deserves your attention.

395 m² of implantation area | Potential for 5-storey building | 9 apartments | 9 boxes | Rooftop terrace | ARU Zone | Downtown Olhão

An opportunity to transform a space with history into a modern residential development, in one of the most sought after and transforming areas of the Algarve.

Contact us for more information and to schedule a visit to the property.
Energy Rating: Exempt
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