Excellent investment property in the centre of Faro the capital of the Algarve

Faro

€ 4,000,000 Ref: A1154A Ownership: Private
  • Built area 3000m²
  • Plot area 3000m²
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Great investment opportunity in the Algarve, Portugal, close to the marina of Faro

Historic building in Faro city centre with a view towards the Marina - a great investment opportunity in the Algarve

Palacio Bivar is a historic building which is classified as av IIP - a construction of public interest. Located in the very centre of Faro, the capital of the Algarve, this beautiful palace, close to the marina, is a fine example of the Neoclassical style of architecture and is probably the best example in the Algarve.

Built in 18th century, with later additions in 19th and 20th centuries, the two storey palace has a symmetry which is very pleasing to the eye. At the front, there are bay windows, each topped with a triangular pediment. There are wrought iron balconies and a balcony window with a lookout tower.

Part of the property was still recently used as a private residence by members of the Bivar family, whose ancestors built the palace, and whose family coat of arms still adorn the ceiling above the main staircase. The rest of the building is used as commercial premises until 2020. 

The property of 3.000 m2 is up for sale for investment purposes, and could be converted into either a shopping mall, a hotel or flat building. The historical facade has to be protected.

Property features

  • Historical building
  • Marina location
  • Sea view

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