Fantastic Opportunity - Considerable Price Drop
In central Funchal it is difficult to find a similar sized property such as Quinta das Fontes for residential development. This property of aproximately 3000 m2, originally build in 1866, is more than a typical madeiran Quinta or Manor House. Its key location in addition to its additional building capacity represent an excellent investment oportunity.
This established Quinta is just a stone's throw from the Casino area & the Avenida do infante. In addition to the 500 m2 main house, full of charm, character & history, the property features a 321 m2 wine warehouse, 126 m2 stable and an extensive, mature and well maintained garden.
Despite the conservation works done in 1950, the property is in need of modernization for full time family living. With the permissible building density in this area, the Quinta das Fontes has a great potential as a small condominium or even a boutique hotel, keeping the main house as the reception and restaurant area. A redevelopment project, for a small condominium of luxurious apartments, has already been submitted to the city hall for planning approval.
Price € 1,200,000
Price / sq metre: €/m² 1,174.17
Agency: ImoPalheiro Lda