€950,000

The building has an approved PIP for the creation of 9 units 6 studios and 3 one-bedroom apartments (T1) and is located in Faro's downtown (Baixa), within a well-established urban area with strong demand.

Total construction area designated for residential use, distributed across 9 units (ground floor and retail/mezzanine level): 627.56 m² including office space and outdoor areas, it could reach approximately 1,000 m².

The property benefits from three pedestrian access points via one of the city's main streets. The side entrances serve the commercial and service spaces on the lower floors, while the central entrance is dedicated to the upper floors intended for residential use. The service floor offers ideal conditions for the creation of a coworking space, offices, or meeting rooms.

The planned interventions are exclusively internal, focused on reconfiguring the layout, allowing the building to be adapted to the new concept. All units will include bathroom facilities accessible to people with reduced mobility and will benefit from openings connected to the exterior, ensuring natural light, ventilation, and comfort.

There is also potential for further value enhancement through the creation of a leisure area on a currently underused terrace, as well as the presence of an interior garden that provides natural light to the rear part of the property.

With numerous configuration and operating possibilities, this asset represents a versatile solution, ideal for a coliving concept, urban residences, or hybrid living-and-working spaces, combining functionality, prime location, and strong appreciation potential.
Energy Rating: Exempt
#ref:GA-10201