Sé (Funchal) (Funchal)
Luxury home
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Discover these two exceptional properties in the heart of Funchal – Two five-floor buildings and another with three floors that could be extended to five floors, with enormous potential for rehabilitation and versatile use. The buildings offer the possibility to create several spacious apartments, a hostel, or a city hotel. Complemented by one or two attractive ground-floor commercial spaces. This offering targets investors seeking a standout opportunity to invest in Funchal's historic center and benefit from high rental potential.
Located beside Nossa Sé Catedral, on Rua da Sé and Travessa dos Capelitas, one of the oldest and most iconic streets in Funchal, the building is in one of the city's most desirable areas. The charming pedestrian area, known for its architectural diversity, is surrounded by exclusive boutiques, popular restaurants, cafés, and cultural spaces. The central location guarantees high visitor flow, making the properties ideal for commercial or mixed use. Downtown Funchal, the Marina, and the Cathedral are just a few meters away, further highlighting the appeal of these properties.
An additional benefit for investors is the building's location in an ARU (Urban Rehabilitation Area). This zone offers not only numerous tax advantages, such as five years of IMI exemption and IMT exemption on rehabilitation projects, but also financial incentives to modernize and revitalize properties.
➡️Special Features:
• Elegant façades with a wide entrance
• High ceilings and large windows for well-lit spaces
• Flexible and versatile balconies
➡️Condition of the Building:
Currently, a complete rehabilitation is required to fully exploit the properties' potential. The buildings are used as office space and, thanks to their solid structure, offer several remodeling possibilities. The façade is in good condition, reinforcing the property's historic charm.
➡️Investment Potential and Benefits:
Invest in a unique property in the heart of Funchal's historic district, one of the city's most sought-after pedestrian areas. This central location combines cultural charm with economic potential, providing an ideal foundation for a profitable investment.
The property is located within an ARU (Urban Rehabilitation Area) – a zone created to encourage investments in historic buildings. In addition to tax advantages, investors benefit from favorable conditions for rehabilitation projects.
ARU Advantages:
• IMI exemption for 5 years
• IMT exemption for rehabilitation projects
• Reduced rates on rental income and capital gains from rehabilitated properties
• Financial incentives on municipal fees
➡️Very Attractive Location: The central position in Funchal's historic zone ensures high demand, both for tourist rentals and for commercial uses.
Invest now and seize this rare opportunity! With these significant advantages and the unique location, this property represents an exceptional and profitable long-term investment opportunity.
If you are looking for a property with these characteristics or if you are a real estate consultant, do not hesitate to contact me; KW AREA MADEIRA proudly shares with licensed AMI real estate professionals in a 50-50 system.