Great opportunity to acquire a ready-to-go building project with all planning permissions at a great price!
CURRENT STATUS: An existing detached villa of 140 m2 built on plot of approx. 500 m2, located in one of the best residential areas of Nerja, on the Costa del Sol, just 500 meters from the Burriana beach and the National Parador Hotel. Good access and an ideal location as a first home or holiday residence for letting.
PLANNING: CLASSIFIED URBAN LAND. We have obtained FULL OUTLINE PLANNING PERMISSION, which enables us to, by submitting the final project, to demolish the existing dwelling and construct an apartment building on the plot with 600 m2 of construction, comprising 4 stories (ground floor + 3) plus basement. The internal layout allows various combinations, e.g. 8 apartments in total with 2 apartments per floor. Basement parking is envisaged with ramp access from the street. The project does not have any external infrastructure costs. The immediate area has been renovated by the local Council of Nerja, so all services and utilities such as sanitation and other connections and supplies are brand new.
Alternatively, there exists outline plans and a study for a 24 room hostal with swimming pool on the same site.
PRICE OF THE EXISTING HOUSE, LAND AND FULL PROJECT: 475,000 Euros.
PAYMENT (in the event of a purchase): The property has an existing mortgage of 360,000 € approx. (with monthly repayments of approx. 1,800 €). The mortgage can be transferred to the purchaser. The balance (115,000 €) by agreement, or exchanged for a property of similar value.
JOINT VENTURE: We are prepared to enter into such an arrangement. Please contact us below.
COMMENTS: The purchaser can acquire the existing mortgage, deciding in the future the best time to build and promote this magnificent residential project, according to market conditions. Urban land at this price in Nerja with these features does not exist. It represents an ideal opportunity to obtain a 100% legal project at today’s low prices offering a tremendous ROI in the future.
Eurosur is a long standing developer and estate agent in Nerja, established since 1967. We construct and project-manage new construction developments in and around Nerja in the province of Malaga on the Costa del Sol. See more about Eurosur and its history.
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