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1 200 000 €
Building in Santa Luzia, FunchalFunchal, Ilha da Madeira
Building in Santa Luzia with 492 m²
492 m²
Energy efficiency
An excellent investment opportunity in Funchal, offering a fully designed and approved development project ready to move forward. The property is currently in ruin condition, providing a clear redevelopment opportunity in one of Madeira’s most desirable and high-demand locations. The project has already been professionally designed and approved, with the applicable planning/licensing process completed. The next step is the formal collection/lifting of the construction licence from the council, allowing the buyer to begin the building phase. This is an ideal opportunity for investors, developers, or buyers looking to create a modern income-generating asset in Funchal, with a mix of residential units, commercial space, and short-term rental potential. Approved Project Overview The approved project has been designed to include: 7 residential units in total 1 x Four-bedroom apartment 6 x One-bedroom apartments Commercial area Potential for 2 parking spaces Lift access Energy-efficient design Solar panels Basement/service area designed to support building operations The building layout has been carefully planned to support residential use and may also be suitable for short-term letting or Airbnb-style accommodation, subject to the buyer’s final strategy and applicable local requirements. Investment Highlights This project offers a rare chance to acquire a development opportunity where much of the preparation has already been completed. Instead of starting from zero with design and approval processes, the buyer benefits from an already approved project, helping reduce uncertainty and accelerate the path toward construction. The combination of residential apartments, commercial space, lift access, energy-efficient systems, and potential parking makes this an attractive option for investors seeking a strong long-term asset in Madeira. Funchal continues to see demand from local residents, international buyers, remote workers, relocation clients, and tourists, making well-located residential and mixed-use projects especially attractive. Key Features Location: Funchal, Madeira Current Condition: Ruin / redevelopment property Project Status: Approved project Use: Residential and commercial Residential Units: 7 apartments Apartment Mix: 1 x T4 and 6 x T1 Commercial Space: Included in project Parking: Potential for 2 spaces Lift: Included in design Energy Efficiency: Solar panels and efficient building