Algarve, Portimão, Portugal

Building for sale in the Historic Zone of Portimão Located on the emblematic Alameda Histórica de Portimão, opposite the Convent of the Jesuit College, a 17th-century building, and next to the Igreja Matriz de Portimão
(Portimão Parish Church), this property enjoys a unique architectural and
cultural setting in the heart of the city. The area hosts various events promoted by the municipality, such as concerts, fairs,
exhibitions, and gastronomic festivals, giving the location a dynamic and attractive atmosphere throughout the year. The building has a total construction area of approximately 1,600 m², distributed over five floors above ground and a basement. It stands out as a corner building with three facades, providing excellent sun exposure and visibility. · Rehabilitation project details: Use: Tourist Apartments Ground floor for commercial use 1st, 2nd and 3rd floors – 22 T0 type units with kitchenette with areas between 24 and 38m2 4th floor – office space with two terraces and direct street access by elevator Rooftop – lounge/leisure area PIP approved Approved Tax Benefits (ARU zone – IMT recovery, IMI exemption for 3 years) The Alameda is served by a large underground parking garage and several urban bus lines, ensuring easy accessibility for both residents and visitors. The neighboring property was recently acquired by the Portimão City Council, where the Citizen Service Desk is located, reinforcing the value and dynamism of the surrounding area. This is, therefore, an excellent rehabilitation and investment opportunity, with high
potential for the creation of a benchmark tourism project (boutique hotel,
premium local accommodation or charming development). The project already has an approved PIP (Prior Information Request) and has funding of €2.5 million approved by CCAM and a banking institution, under the LAQO – Support
Line for the Qualification of the Offer: 75% of the investment financed by Turismo de Portugal, at 0% interest; 25% of the investment supported by a banking institution; Up to 35% of the amount financed by Turismo de Portugal may be converted into a non-refundable grant, subject to compliance with turnover and environmental performance indicators. The complete documentation is available for consultation, including: Location details Plans PIP Approval LAQO Approval 2024 Information Sheet Tax benefit approval report Permanent Commercial Certificate Property Registration Certificate SME Certificate 3D Project renderings Current building photos 3D renderings of the planned rehabilitation This is a magnificent investment opportunity. Contact us and schedule a visit.
REF: -570