€ 150,000 Annually
Imposing, double-fronted Palazzo located on Pieta's seafront being offered for sale and to let. The building has been completely re-purposed internally with the facade having been retained and restored. The new layout configuration consists of two office premises on the ground floor, each having their own dedicated street entrance and a third central entrance to the upper floors, which are classified as residential units - these being two split level three bedroom apartments on the first floor and two further apartments on the second floor, one of which is a three-bedroom apartment and another being a two bedroom apartment. The office premises boast ultra-high ceilings to permit the creation of a mezzanine floor and each have a small 15sqm (circa) back yard which allow for natural light and natural ventilation. The first floor apartments also have very high ceilings to cater for mezzanines. A lift shaft in the centre of the building allows for a lift to be installed to access the upper floors. Besides the intended configuration as above, one may also create a guesthouse or short-let apartments block which could easily house at least 17 units (8 large suites/mini-apartments + 9 rooms with ensuite bathroom), a breakfast room, luggage room, co-working space/reception and possibly a shared roof pool/roof garden. Any potential lease investor would be expected to invest in the finishing and furnishing of the Palazzo with rent-free and reduced rent periods to compensate for the investment. An excellent investment opportunity.
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