Historic building for renovation in downtown Porto
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- Property typeBuilding
- Sale € 848.000
- Construction2012
- CountyPorto
- TownPorto
- ParishVitória
- REFCY-W-04AIXI
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Description
In the heart of the city of Porto, just a few meters from the iconic Lions’ Square, the Church of Carmo and some of the city’s most important points of interest, stands this historic 18th-century building, located within the area classified as a UNESCO World Heritage Site.
With a current area of 133sqm spread over two floors, the property offers strong expansion potential, allowing it to reach an area of over 300sqm, subject to the relevant projects and approvals. This is an excellent opportunity to develop a high-quality residential development, apartments intended for local lodging (AL), units for long-term rental, or even a mixed-use project with a commercial component.
Located within Porto’s Urban Rehabilitation Area (ARU), it benefits from a set of highly attractive tax and urban-planning incentives, namely exemption from IMT and favorable conditions for rehabilitation processes, making the investment even more competitive.
Growing demand for Porto’s historic center, driven by tourism and the interest of national and international investors, makes this property a rare opportunity in a market where buildings with these characteristics are increasingly scarce.
The combination of the building’s heritage value, its prime location and its significant construction potential makes it possible to create a unique project, capable of generating substantial appreciation and an excellent return on investment.
If you are looking for a distinctive asset to develop in one of Europe’s most dynamic real estate destinations, this is an opportunity that deserves your attention.
Main features:
18th-century building; Premium location next to Lions’ Square and the Church of Carmo; Located in a UNESCO-classified area; Included in an Urban Rehabilitation Area (ARU); Current area of 133sqm; Expansion potential to over 300sqm; Excellent opportunity for investment and rehabilitation.
With a current area of 133sqm spread over two floors, the property offers strong expansion potential, allowing it to reach an area of over 300sqm, subject to the relevant projects and approvals. This is an excellent opportunity to develop a high-quality residential development, apartments intended for local lodging (AL), units for long-term rental, or even a mixed-use project with a commercial component.
Located within Porto’s Urban Rehabilitation Area (ARU), it benefits from a set of highly attractive tax and urban-planning incentives, namely exemption from IMT and favorable conditions for rehabilitation processes, making the investment even more competitive.
Growing demand for Porto’s historic center, driven by tourism and the interest of national and international investors, makes this property a rare opportunity in a market where buildings with these characteristics are increasingly scarce.
The combination of the building’s heritage value, its prime location and its significant construction potential makes it possible to create a unique project, capable of generating substantial appreciation and an excellent return on investment.
If you are looking for a distinctive asset to develop in one of Europe’s most dynamic real estate destinations, this is an opportunity that deserves your attention.
Main features:
18th-century building; Premium location next to Lions’ Square and the Church of Carmo; Located in a UNESCO-classified area; Included in an Urban Rehabilitation Area (ARU); Current area of 133sqm; Expansion potential to over 300sqm; Excellent opportunity for investment and rehabilitation.
Location
Vitória, Porto
