Plot of land suitable for housing development, S/C Tenerife

West Islands Properties presents for sale a plot of land suitable for residential development, located in one of the most popular streets of Santa Cruz de Tenerife, San Francisco Street. The property has a unique investment opportunity as the land is mainly for residential use with the possibility of building up to six floors.

EXAMPLE/ DEVELOPMENT PROPOSAL SAN FRANCISCO STREET:
-Plot area: 260 m2.
-Utilisation: 100 %
-Number of plants: 6
-Detailed study
-Number of dwellings per floor 3 of 70 m2 = 210 m2 per floor.
-20% of common areas per floor = 52 m2.
-3 dwellings per floor times 6 = total of 18 dwellings.
-Plot price: 950.000 € between 18 vv = 52.700 € impact of land per dwelling.
-PVP housing
70 m2 x 4.500 € m2 = 315.000 €.
PVP total promotion
315.000 € x 18 dwellings = 5.670.000 €.
Price reference:
The reference used to apply these sales prices is the Daltre development in the same street marketed at a price of more or less €5,000 per square metre.
Another alternative:
Qualified site for the construction of an 18-room flagship hotel.
If this alternative is chosen, it should be noted that it would be eligible for RIC materialisation.

Don't miss this investment opportunity!

Contact us for more information.