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Prime Investment Opportunity In Funchal City Center
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€ 575,000 £ 491,863 $ 623,948

Reference PP174238

Funchal, Madeira

Commercial

20 Bedrooms

Built in: 1940

778m2 Build size

€ 739 £ 632 $ 801 / m2 build

461m2 Plot size

€ 1,247 £ 1,066 $ 1,353 / m2 plot

Prime Investment Opportunity In Funchal City Center

€ 575,000 £ 491,863 $ 623,948

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Key information

Reference: PP174238

Commercial

Funchal, Madeira

20 Bedrooms

3 Bathrooms

Ownership Status: Company

Built in: 1940

778m2 Build size

€ 739 £ 632 $ 801 / m2 build

461m2 Plot size

€ 1,247 £ 1,066 $ 1,353 / m2 plot

Discover the charm of this historic gem nestled in the heart of Funchal, Madeira. Located within walking distance of the magnificent Cathedral and the tranquil embrace of the ocean, this building presents a unique and unparalleled opportunity for your next venture.

Location: Situated in the vibrant city center, this property enjoys a coveted spot in the Archaeological and Urban Rehabilitation Area (ARU), offering a multitude of advantages for reconstruction, especially in financial terms. The ARU designation grants various incentives, making this an incredibly lucrative investment for those looking to revitalize and transform this space into a boutique hotel or a similar upscale establishment.

Architectural Splendor: The building, with its elegant facade and architectural finesse, stands as a testament to Funchal’s rich history. Embodying the island's unique blend of tradition and modernity, the structure offers a perfect canvas for restoration, allowing you to preserve its heritage while infusing contemporary elements.

Proximity to Attractions: Imagine your guests strolling through the charming cobbled streets, exploring the nearby Cathedral with its intricate design, and relishing the gentle sea breeze from the nearby ocean. This central location ensures that visitors are immersed in the cultural tapestry of Funchal while enjoying the convenience of being just moments away from key landmarks.

Versatile Potential: Whether you envision a boutique hotel, a boutique guesthouse, or a unique hospitality concept, this building provides a versatile space to bring your vision to life. Its generous square footage and adaptable layout offer endless possibilities for creating bespoke guest rooms, inviting common areas, and exquisite dining spaces.

Investment Benefits: Apart from its ideal location, the property’s ARU designation opens doors to a plethora of financial benefits, including tax incentives, grants, and support for the restoration process. This translates into substantial cost savings, ensuring a high return on investment for savvy entrepreneurs and investors.

Conclusion: In the heart of Funchal’s city center, this building is more than a property; it’s an opportunity to craft a haven of luxury and hospitality. Don’t miss the chance to be part of Funchal’s thriving tourism industry while preserving a piece of its historic legacy. Embrace the potential, embrace the charm, and make this your next successful venture.

Inquire now to unlock the doors to your future in Funchal.

Features

  • Terrace/Balcony
  • Spacious
  • Character property
  • Features great views
  • Morning sun
  • Orientation: Southwest
  • Near bars / restaurants
  • Near school(s)
  • Near shops
  • Near the beach

Energy rating

  • A+
  • A
  • B
  • B-
  • C
  • D
  • E
  • F
  • G

The energy rating shows the energy efficiency of a building on a scale of A to G. The most efficient homes – which should have the lowest fuel bills – are in band A, whereas the most inefficient homes are in band G.

Key information

Reference: PP174238

Commercial

Funchal, Madeira

20 Bedrooms

3 Bathrooms

Ownership Status: Company

Built in: 1940

778m2 Build size

€ 739 £ 632 $ 801 / m2 build

461m2 Plot size

€ 1,247 £ 1,066 $ 1,353 / m2 plot

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Funchal, Madeira

Funchal is the largest city, the municipal seat and the capital of Portugal's Autonomous Region of Madeira, bordered by the Atlantic Ocean. The city has a population of 105,795, making it the sixth largest city in Portugal and has been the capital of Madeira for more than five centuries.

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Send your enquiry through now.

Yours sincerely,
Tony Berkery

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