In one of the most privileged and strategic locations in Piraeus, within walking distance of the port and Akti Poseidonos, very close to the Piraeus Tower and between the Piraeus Metro and Municipal Theatre stations, a plot of land with a total area of 780 sq.m. is available, featuring an existing building with a total area of 1,468 sq.m. and a preserved façade.
The plot has a floor area ratio of 4.8 and a coverage ratio of 70%. It also offers a significant remaining building allowance of approximately 2,500 sq.m., providing excellent opportunities for further development, as well as eligibility for the €250,000 Golden Visa program.
The existing building comprises 1,201.75 sq.m. above ground: ground floor 467.05 sq.m., first floor 467.05 sq.m., and second floor 267.65 sq.m., plus a 266.07 sq.m. basement, for a total of 1,467.82 sq.m. Due to its preserved façade, it is suitable for conversion into apartments for sale, with no minimum floor-area limit per apartment and a €250,000 threshold for the Golden Visa. It is also suitable for the development of a hotel or Airbnb accommodation.
Its particularly privileged location in one of Piraeus’s most important commercial, transport and developing hubs, combined with the planning characteristics and the existing building, make the property an ideal investment opportunity.
It is suitable for development with various uses, such as commercial premises, offices, residences or apartments for exploitation, depending on the design and permitted use.
Based on the applicable building regulations and the property’s existing documentation, the remaining floor area ratio allowance amounts to 2,510 sq.m. Due to the building’s special restrictions (preservation of the historic façade), this remaining building allowance may be implemented on the plot exclusively vertically and with the prescribed setback from the building line. It is noted that any square metres that cannot be physically constructed on the property due to objective planning restrictions, such as the area’s maximum permitted height or the limitation imposed by the notional building envelope, are not forfeited. Instead, they are fully safeguarded, as they are converted into a Transfer of Building Factor right through the Digital Land Bank, enabling financial compensation/liquidation.
A particularly noteworthy proposal for investors seeking a property with a strong location, substantial development potential and multiple utilization options in the heart of Piraeus.