Algarve, Olhão, Portugal
- PROPERTY TYPE
Plot
- SIZE
8,493 sq ft
789 sq m
Key features
- Near city center
- Near green areas
- Bedrooms: 0
- Near school
- Near public transportation
Description
We present an investment opportunity with enormous potential in the centre of Olhão: An old factory with 395 m² of implantation area, located in the heart of the city, a few minutes walk from the Marina of Olhão, Municipal Markets, riverside area and pier for the Islands.
The property stands out not only for its privileged location, but above all for its potential for the development of a residential development.
CONSTRUCTION POTENTIAL
A few years ago, this property benefited from an approved project for the construction of a 5-storey building, including:
- 9 apartments;
- Areas between 76 m² and 143 m;
- 1 T1 flat;
- 4 T2 apartments;
- 4 T3 apartments;
- Rooftop terrace of the building;
- 9 garages in box;
The photographs of the previously approved project are available in the announcement, allowing you to visualise the concept and development potential of this project, and are merely indicative.
**Important note:
The information regarding the previously approved project is merely indicative and does not dispense with the consultation and confirmation of all conditions, urban parameters and construction possibilities with the Municipality of Olhão, by the interested party/buyer.
The property will be sold in the state and condition it is currently in, without conditions.
A PRIVILEGED LOCATION IN THE CENTRE OF OLHÃO
Inserted in the heart of downtown Olhão, this property is located in an area with a strong Algarve identity and in constant appreciation.
A few minutes' walk away you will find:
* Olhão Marina
* Municipal Markets
* Embarkation pier for the islands of the Ria Formosa
* Riverside area
* Restaurants and traditional shops
* All services and amenities of the city centre
In addition, it is part of an ARU - Urban Rehabilitation Area, and can benefit from the incentives and tax benefits applicable to urban rehabilitation, in accordance with the legislation and conditions in force.
AN OPPORTUNITY FOR INVESTORS AND DEVELOPERS
Olhão has been asserting itself as one of the most sought after destinations in the Algarve, both for residence and investment, benefiting from the proximity of the Ria Formosa, its islands and an increasingly valued riverside area.
The combination of central location, property size, ARU framework and the history of a previously approved project for 9 apartments makes this former factory a particularly interesting opportunity for those looking for a property with potential for rehabilitation and development of a new residential development.
A DIFFERENTIATING OPPORTUNITY IN OLHÃO
If you are looking for a property to develop a real estate project in the heart of Olhão, this old factory deserves your attention.
395 m² of implantation area - Potential for 5-storey building - 9 apartments - 9 boxes - Rooftop terrace - ARU Zone - Downtown Olhão
An opportunity to transform a space with history into a modern residential development, in one of the most sought after and transforming areas of the Algarve.
Contact us for more information and to schedule a visit to the property.
Energy Rating: Exempt
#ref:CS-LOTP-93851
Algarve, Olhão, Portugal
NEAREST AIRPORTS
Distances are straight line measurements- Faro(International)7.0 miles
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Notes
This is a property advertisement provided and maintained by Casas Do Sotavento, Faro (reference 283622_24190697) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.