INVESTMENT OPPORTUNITY IN FARO CITY CENTRE Ruin + Approved Project for a 9-Bedroom Guest House with Swimming Pool, Courtyard, Garage & Rooftop Terrace Property for sale comprising an existing ruin for complete reconstruction, together with an approved architectural project for a 9-bedroom guest house (T9). The planning permission has already been granted by the Faro City Council, with construction expected to commence in the near future. 🏆 Immediate Advantage for Investors * Purchase a property with a fully approved project, avoiding months of planning and administrative procedures. * Benefit from a high-potential investment with two possible development strategies: * A 9-bedroom guest house in the heart of Faro. * The possibility of converting the building into three independent apartments*. 📍 Prime Location Situated on *Rua Serpa Pinto*, within the Urban Rehabilitation Area (ARU), adjacent to Faro's Historic Centre (Riverside Quarter), less than a 5-minute walk from the city centre and Faro Marina. * Less than a 5-minute walk to the Old Town, Faro Marina, Rua de Santo António and the main shopping area. * Located within the protected Riverside Quarter of Faro's Historic Centre, next to the Convent of Santo António dos Capuchos*, a Public Interest Monument. * The street has been completely renovated with new water and sewage infrastructure. 🏗 Project Details (Official Data) Intended Use:* 9-Bedroom Guest House (T9) Gross Construction Area:* 299.95 m² Plot Size:* 160.20 m² The approved project includes: * Garage (20.55 m²) * Swimming Pool (8 m²) * Panoramic Rooftop Terrace (71.60 m²) * Private Courtyard (47.15 m²) * 9 en-suite bedrooms, each with a private bathroom 📈 Excellent Investment Potential The proposed three-storey building layout also allows for the creation of three self-contained apartments, offering flexibility for different investment strategies. The area enjoys strong and growing demand for: * Boutique Guest Houses * Premium Short-Term Holiday Rentals * Long-Term Residential Lettings * Resale as Separate Residential Units (subject to applicable regulations) 🎯 Ideal For Property investors, developers and tourism entrepreneurs seeking a scalable, high-return project in the centre of the Algarve's capital city. 💼 Additional Tax Benefits As the property is located within Faro's Urban Rehabilitation Area (ARU), the project may qualify for significant tax incentives, including: * Exemptions from certain municipal fees. * Potential IMI and IMT tax exemptions. * Reduced VAT rate of 6% on eligible construction works, subject to the applicable legislation. Asking Price: Negotiable.