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450 000 €
Building in Imaculado Coração Maria, Funchal
Funchal, Ilha da MadeiraBuilding in Imaculado Coração Maria with multimedia
275 m²
Skip to main contentEnergy efficiency 
Building for sale
The property's inclusion in an Urban Rehabilitation Area (ARU) represents a significant advantage for a rehabilitation project, potentially granting access to tax benefits, incentives, and other forms of support associated with urban renewal—subject, of course, to compliance with all applicable legal and regulatory requirements. An investment with high development potential in one of Funchal's most strategic locations. Situated on Rua 31 de Janeiro—in a well-established and highly sought-after area of Funchal—this building, which is ripe for renovation, sits on a 183 m² plot. It offers an excellent opportunity for investors, real estate developers, and builders looking to create a multi-unit residential project in a central location. The property's location is one of its key assets; it benefits from proximity to Funchal's city center and a wide range of shops, services, restaurants, amenities, and transport links, ensuring great convenience and strong residential demand. Development potential The property offers the potential to create a multi-unit residential project. A new apartment construction scheme could be explored, taking full advantage of the site's footprint and permissible building volume. The plot's layout also allows for the creation of floors above street level, complemented by a lower level (basement) suitable for parking, access points, storage units, or other support areas for the development, subject to the specific project design and applicable urban planning regulations. The potential to develop multiple residential units makes this asset particularly attractive for various strategies, such as selling individual units, leasing them out, or adding value to the development for a future sale. This property represents a prime opportunity for anyone looking to acquire a centrally located asset and develop a real estate project tailored to Funchal's residential market. Key highlights: - 183 m² plot - Central, highly sought-after location in Funchal (ARU zone) - Rua 31 de Janeiro - Property in need of renovation - Potential for multi-unit development - Potential for parking and support areas on the lower level (basement) - Excellent accessibility and proximity to shops and services - Various investment strategies possible: sale of individual units, long-term rentals, or—subject to applicable regulations and licensing—development of the building exclusively for short-term holiday rentals (*Alojamento Local*
Details
Construction Year- -
Gross Area m²- -
ElevatorNo
Private Gross Area m²275
Living Area m²274
GarageNo
Total Lot Size m²183
Price m²1 636 €
Floor- -
Location
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Origin Listing reference:id. KWPT-038434
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