Building for sale in Porto

Building with a gross construction area of 472.00 m2, in Full Ownership with Floors or Rooms Suitable for Independent Use, located in the heart of downtown Porto, a few metres from Rua de Santa Catarina, Bolhão Market, Praça dos Poveiros and Campo 24 de Agosto. Currently vacant and used for a mix of retail, services and storage, although a project has already been approved for alteration and extension works with a view to converting it into a co-working space and multi-family housing (4 two-bedroom flats). Its location in a continuous Type I urban frontage area, designated in the PDM as ESPAÇO CENTRAL, as well as its inclusion in the BAIXA ARU zone, represent an investment opportunity with a view to its expansion to a total of 4 floors, both in the volume built on the Rua da Alegria side as well as in the volume built at the rear of the plot, benefiting from the reduced VAT rate of 6% and other tax benefits provided for urban regeneration areas in Porto* and significantly increasing the current gross construction area. Considering its current configuration, this property also offers an opportunity for immediate profitability in the rental market, thanks to the existence of two independent entrances facing Rua da Alegria and double vertical access provided by two staircases that allow for the autonomous operation of Floor 0 from Floors 1 and 2, ideal for maintaining its mixed use and simultaneously accommodating activities as diverse as retail, offices and study rooms, gyms and wellness clinics, or even small private storage spaces, thanks to the existing goods lift. Come and visit! *ARU benefits Exemption from IMI (property tax) for a period of 5 years, with the possibility of renewal for a further 5 years, provided that the rehabilitation and conservation requirements are met; Possibility of exemption from IMT (property transfer tax) on the first transfer of property intended for own and permanent residence or for rental; Reduced VAT rate of 6%, in accordance with Article 18 of the CIVA; Municipal licensing or building permit fees reduced by 50%; Possibility of deducting up to 30% of the costs incurred in the rehabilitation from your income tax, up to a limit of 500 euros, provided that the work results in a significant improvement in the condition of the property (minimum of ‘good’).