Building city center Santa Luzia Funchal - exterior area, panoramic view, balconies

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

Santa Luzia, Funchal, Ilha da Madeira

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