Building for sale in Funchal, Portugal

Historical building located in the heart of the city of Funchal, dating back to 1930, consisting of 4 floors and with a total area of ââ700.00 m2. Each floor has an approximate useful area of ââ200.00 m2 and the attic (top floor) has approximately 100.00 m2 - with the possibility of building an outdoor terrace. This building is built in a traditional layout of Funchal manor houses characteristic of the 18th and 19th centuries and is located in the center of Funchal, in the heart of Rua dos Ferreiros and 500m from Funchal City Hall. Rua dos Ferreiros is one of the best known and busiest arteries in the city of Funchal, Madeira. The street goes from Rua 5 de Outubro, a little below Largo do Chafariz, to Ponte do Torreão, which crosses Ribeira de Santa Luzia. Here you are a 2-minute walk from all services, such as supermarkets, coffe shops, restaurants, traditional shops, pharmacies, municipal gardens, clinics and health centres, shopping malls and the Funchal marina. Also noteworthy is the â5th of October Car Parkâ right in front of the building, ideal for parking vehicles close by, and the âSanta Luzia Car Parkâ. Address: Rua dos Ferreiros 155, 157 and 159 The existing project preserves the traditional architecture, namely all the arches and stone walls, as well as the gaps with relevant elements with regard to the construction period. Ideal for the construction of apartments, AL, hotel, hostel, restaurant/commercial space, creation of offices or coworking. It should also be noted that in accordance with the support provided by the urban rehabilitation project of the Municipality of Funchal, the buyer will benefit from IMI exemption for a period of 5 years, IMT exemption on the first transaction after rehabilitation, and the minimum VAT rate 5% on the cost of the works, in addition to other gains in property income, reduction of fees for issuing permits and occupancy of public roads, up to 50%. Do not miss this opportunity! Contact us!