Five-storey building plus a terrace roof, perfect for the hotel and catering industry. Due to its privileged location in the most touristic and sought-after area of Malaga (it is less than 50 metres from “Plaza de la Constitución” and “Calle Larios”), the property is a unique opportunity to carry out a successful project. It is available for long-term rent (up to 15 years) in order to make the investment profitable.
Since it was built in the 60’s, there has been either an office or a flat per floor, so a transformation is required. To that end, the owners have a building adaptation project at the tenant’s disposal, making it possible to build two apartments per floor, three bedrooms with a built-in kitchen or four double bedrooms (each with an en suite bathroom).
Without a doubt, what makes this property unique is its terrace roof. Located in an area where the average height of buildings is three floors high, the terrace (situated 2/3 floors above the rest) turns it into an extraordinary viewpoint of Malaga with 360º views of the entire city (the cathedral, Alcazaba, Gibralfaro etc).
In conclusion, this building is a great opportunity to develop a reliable accommodation project with a bar on the terrace roof.
The building is located in Santa María Street, area that must be crossed to reach the Thyssen Museum touristic itinerary- “Plaza de la Constitución”, cathedral and Picasso Museum.
In the last decade, Malaga has turned into the Spanish capital city with the highest growth rate both in the number of tourists and overnight stays.
Therefore, the city (already famous thanks to its beaches, the mildness of its climate and the nature of its people), has become a world-renowned hallmark in the premium sector as a consequence of the spectacular restoration and value enhancement of the historic district. Malaga has also grown stronger as a cruise ships city (with its new marine terminals), and it is important to highlight its shops, restaurants and cultural offer (there are more than 40 museums: Picasso, Thyssen, Pompidou Centre, the State Russian Museum etc).
In spite of what has been said, the offer of whole buildings used as hostels or holiday apartments is not high (as most of the holiday apartments already existing in the city are isolated units).