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3 950 000 €
Building in São Vicente, LisboaLisboa, Lisboa
Building in São Vicente with multimedia
1 888 m²
Energy efficiency
In the heart of the historic São Vicente neighborhood, stands the Palácio da Cova (often associated with the Pátio da Cica), a unique property whose origins date back to the 16th century. Built by order of Pedro Mendonça, a noble close to the Portuguese royal court, and expanded in the 17th century by his descendant D. António Mendonça, the palace remained within the sphere of the founding family for more than three centuries, until 1877. The Golden Period and the Connection to the City In the first half of the 18th century, the palace enjoyed its greatest glory when it served as the residence of João da Mota e Silva, the famous Cardinal da Mota. Main minister of King D. João V and one of the most influential political figures in the country, the Cardinal died inside this palace in 1747. His historical relevance was such that, because the noble entrance was located there, the artery was permanently named in his honor: Calçada do Cardeal. The palace also welcomed other top clerical figures, such as D. João Cosme, and the family of the Counts of São Paio, which historically joined the lineage of the Marquis of Pombal. Privileged Location and Investment Potential Currently deactivated and unoccupied, Palácio da Cova is an authentic blank canvas with a strategic location in the historic center of Lisbon. It is within walking distance of unmissable tourist attractions such as the National Pantheon, the São Vicente de Fora Monastery and the São Jorge Castle, also benefiting from the excellent accessibility given by the proximity to the Santa Apolônia metro and train station. Today, with more than 1,800 m², the space surprises precisely with this raw contrast between the stonework, vaulted ceilings and period tiles. This asset meets all the prestigious conditions for the development of multiple reference projects: - A premium residential development or historic loft concept; - A charming boutique hotel with a strong cultural narrative; - An institutional headquarters or embassy; - A creation and co-working hub for creative industries. Valuation Factor (Upside) Currently, a Simplified Request for Prior Information (PIP) is in the approval phase to increase the built area (+2 floors, with a recessed facade), which provides a strong increase in value and immediate profitability to the asset. Energy Category: Exempt