The building currently comprises two physically independent apartments, i.e., one unit on the ground level with an independent entrance and another duplex unit (apartment) on the 1st level, although there is just one title deed (“propriedade total”) for the entire building. Separate title deeds (one for each apartment) will be created as part of the admin process associated with the renovation works, should you choose to follow or create a 2-unit development, as previously foreseen.
Previously submitted architectural project (from 2019 – now expired) for this building, which involved creating a 3-bedroom 3-bathroom duplex apartment on the 1st and 2nd levels and an independent 2-bedroom 2-bathroom apartment on the ground level. This solution could be a perfect mixed-investment solution, in that you could keep the duplex apartment for lifestyle needs and either rent or resell the ground level 2-bedroom apartment to claw back sizeable chunk of your investment, on completion.
In relation to the ceiling heights on the 2nd level, ceiling height ranges from 2,40 m at its lowest to 3,95 m at its highest point. .
Below is a summary of our estimated costs for this project:
The current asking price for the entire building is 615.000 €. If you add another further 520.000 € (260 m2 x 2.000 € per m2) as the “worst-case” renovation cost figure (given your experience and building concept, I am confident that you will be able to reduce this cost significantly), it will bring total investment at 1.135.000 € or 3.996 € per m2, if you prefer, for the fully renovated building with 2 units. The projected build size is 284,00 m2.
FOR MORE PICTURES AND DETAILED PLANS, PLEASE ENQUIRE (NO AGENTS)
- Renovation project