+351 910 660 900
Estrada das Escanchinas | Edifício Irbosol 1º | 8135-105 Almancil | Algarve
info@a1-algarve.com

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

€4,000,000

Description

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.

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  • Type: Commercial property , Historic building
  • Location: Faro
  • Built area: 3000 ㎡
  • Plot size: 3000 ㎡
  • Energy rating: Not applicable
  • Ownership: Private
  • Ref: A1154A

Features

  • Borehole
  • City centre
  • Historical building
  • Marina location
  • Sea view

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