Property Description

This exclusive historic property, officially designated as a colonial landmark, offers a rare opportunity to acquire a distinguished asset rich in character and heritage.

Ideally situated in one of the area’s most sought-after tourist destinations, the property benefits from exceptional pedestrian traffic and a prime, highly visible location. The zoning is fully compliant for mixed-use, allowing for a wide range of commercial and hospitality applications.

The building features approximately 650 m2 (6,997 sq ft) of constructed space, thoughtfully distributed across two levels. It currently comprises 36 fully operational commercial units, generating immediate activity and income. Multiple access points from the main plaza ensure excellent exposure, while the versatile architectural layout enhances visitor circulation and maximizes commercial performance.

Development Potential

The property presents significant upside for future growth and value creation. There is the opportunity to expand by up to an additional 300 m2 (3,229 sq ft), as well as the potential to develop a third level.

Its adaptable configuration allows for a variety of redevelopment or enhancement strategies, all while respecting applicable regulations and preserving the property’s historical and architectural significance. This flexibility positions the asset for substantial income growth over time.

Investment Opportunity

Located within a well-established and vibrant setting, the property enjoys consistent, year-round tourist activity, making it an exceptional investment in a proven high-demand market.

It is ideally suited for a range of upscale concepts, including:

• Boutique luxury hotel

• Premium hostel

• Fine dining or destination restaurant

• Representative corporate offices

• Cultural or concept-driven spaces

The strong presence of successful surrounding businesses further reinforces the area’s commercial strength and the property’s income-generating potential.

Asking Price €1,500,000