Plot with PIP submitted for housing in Foz Velha

A development comprising three houses for renovation in Foz Velha, one of Porto’s most exclusive and established neighbourhoods, with a preliminary project (PIP) submitted and currently awaiting approval. Set on a 288 m² plot on a quiet, residential street, this property offers the ideal setting for a distinctive renovation project, capitalising on the strong demand in the area and the ongoing appreciation of Foz Velha. The proposed project envisages the development of a two-storey residential property with a gross floor area of approximately 215 m², south-facing, a private garden, parking for two vehicles, and a functional layout comprising four bedrooms, including two en-suite bathrooms, and storage areas. The sale is on an ‘as is’ basis, including three separate units with independent property registration documents, as well as a topographical survey and a submitted PIP (Project Implementation Plan). The property’s classification within an ARU zone allows for a reduced VAT rate of 6% on the renovation, adding value to the investment.