Description

This two-story building was built in the first half of the 20th century & renovated within the last 5 years. It has good structure.

The property is currently configured as a 1 bedroom, with a large living space on the lower floor & bedroom on the upper floor.

It is equipped with modern amenities, including a central air-conditioning system, home automation & a security system with intrusion detection.

The ground floor includes an open-plan space that can be used as a living room & office, a kitchen/breakfast room & a guest toilet.

Unusually for the city centre, the property has an architectural project & construction licence recently approved for its extension and alteration, which includes; the addition of a third floor, access to a roof terrace, the installation of an elevator & the implementation of a photovoltaic system to take advantage of solar energy.

The property is located in the centre of the city of Loulé, with shops, cafes, restaurants & the Loule Market all 'on your doorstep'. It's also just 20 minutes from Faro International Airport.

It will be a superb home for anyone looking for the energy & community of this vibrant city, or simply as an investment opportunity to take it through the renovation.

Earth Angels can upgrade this property with an elevator to all floors, making it an ideal home for retirees. Our focus on safety and convenience, including smart technology & alert systems, ensures peace of mind for both residents & their families. This centrally located home provides comfort & security for retirees in their golden years.

The property is also eligible for an AL - Alojmento Local license - Tourist Letting Registration that can easily generate a minimum 5% ROI after renovation.

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Gallery

The property when renovated to a high level of comfort

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FLOOR PLANS

Ground Floor - Level 1

First Floor - Level 2 - "T 1" Option

Second Floor - Level 3 - Full Renovation Option

With access to Roof-Top Terrace (Level 4)

First Floor - Level 2 - Full Renovation Option

Key Information

Construction License in place :

No Obligation :

Valuation :

Fit Out Estimation :

AL licence compliant :

Accessibility :

The application took 3 years from submission to approval.

No Obligation : You can choose any style, budget or choose to do it yourself.

Valuation : On completion of the suggested fit out and extension as licensed, circa 1 Million euros.

Estimated fees for renovation: Increasing the floors and fit out style 250,000 euros.

AL Licence compliant : Can be a profitable holiday home with circa 40,000 euros PA return (5%+ ROI per annum).

The property can be fitted out to be wheelchair friendly with a lift to all floors.

DESIGNED BY

EARTH ANGELS

We are not just an interior design studio, we are a team dedicated to sustainability and practicality. Our attention to detail in sourcing materials and construction ensures that we deliver on our promise of staying within budget and completing projects on time.

We take pride in our commitment to being Earth Angels, making conscious choices that benefit both our clients and the environment. Our designs not only enhance the physical spaces we work on, but also contribute to a more sustainable and mindful way of living.

With us, you can be confident that your interior design needs will be met with care, consideration, and a deep respect for the planet.

Sustainable living doesn't have to mean living in a drab, minimalist environment or breaking the bank. In reality, being sustainable is not only essential, but it also promotes overall well-being, community, and a fulfilling lifestyle. Let us guide you on your journey towards sustainability and show you that it can be both practical and enjoyable.