Charming Building, with Views, Estrela, Lisbon

Charming building with a classical façade, wrought-iron balconies and views, built in stone, located near the Tapada das Necessidades Parkland and the Palácio das Necessidades, in the parish of Estrela in Lisbon. Once upon a time, this beautiful building housed the handmaids of the last Queen of Portugal, Rainha Dona Amélia. This neighbourhood is very well served by all sorts of different types of services, commerce, public transportation, and the future Alcântara Metro Station will be a stone's throw away. This elegant building consists of four floors, eight units and 820 square meters of gross private area. The upper floor units offer lovely views of the Tapada das Necessidades Parkland, Tejo River, Ponte 25 de Abril and Monsanto Parkland. Distinctive features include: high ornamented ceilings, a wide and bright staircase illuminated by a skylight and stonework on the façade of the building. The property also offers excellent east-west solar orientation. The roof was replaced in 2011 and the staircase was also renovated at the same time. The staircase is wide enough to permit the installation of an elevator. The flats require refurbishment but the building itself does not appear to require deep structural work. There appears to exist the possibility of building a garage in the cave that once housed the stables. This high value asset offers the potential to develop charming luxury apartments or a charming Boutique Hotel. A fantastic investment opportunity in an area of the city that is undergoing tremendous growth and urban regeneration and is sure to appreciate in value in the very near future. Sotheby's International Realty has nearly 300 years of history as a reputable and prestigious firm responsible for transacting luxury goods. We have been in Portugal since 2007 and have ten offices across the country with over 300 highly qualified professionals. Our mission is to artfully unite extraordinary properties with extraordinary lives. Please do not hesitate to contact us to receive additional information about this amazing investment opportunity!