The old and emblematic "Edifício Royal" right in the centre of the city with the proximity of the sea and inserted in one of the oldest areas of Funchal.
Building with 6 floors + attic, with high potential for investment, in the hotel segment with the possibility of recovering the structures currently existing, or in the collective housing area with the optional construction of 6 spectacular apartments per floor, with parking on the lower floor, via access to Rua Direita. At the top of the building, the attic, the opportunity to reconvert this magnificent space, to a fabulous terrace, or, a magnificent solarium with esplanade / bar to support the concept of use you want to give the property, taking advantage of the unique and extraordinary 360º view that the top offers.
As an example, in this publication, in the field "Plants" besides the presentation of these, some sketches that the current owners would have once intended to design for this building can be consulted. A hostel with 17 rooms on the upper floors, some of them with 4 bunk beds and on the lower floors, a more collective concept with dressing rooms.
The whole surrounding area is being rehabilitated, from the architectural point of view, with emphasis on the new hotel unit, Savoy Boutique to be born, very soon, through the recovery to be carried out in the old building of the Insular de Moinhos, as well as, on the archaeological side, with the preservation of the ruins of the Fort of São Francisco, discovered in the mouths of the streams of Santa Luzia and Ribeira João Gomes, ending in the not less relevant recovery of the named Largo do Pelourinho.
As an added value that enhance the investment, this property benefits from a situation not very common as are its two entrances, through the existing accesses, Rua 31 de Janeiro to the west and the no less emblematic Rua Direita to the east. The interior access to all 6 floors by elevator and service stairs is also worth mentioning.
This one yes! An investment with guaranteed return!
Note: The property, for the moment, does not have a Technical File and, for this reason, it is not possible for us to indicate its useful area.