647m² building for sale in Vigo, Galicia
In the city centre of Vigo, we find this excellent investment opportunity to purchase, renovate or lease out. The property is located on one of the main streets of Vigo, called Garcia Barborn. It is located at the intersection of one of the city centre's main entrances. Currently, the retail space is leased, and one unit is rented. The remaining units are empty but in need of upgrading.
The units offer ample space, various rooms, original pine wood flooring and high ceilings. Some aspects of historic architecture can be found in many of the units. Specific units have a historic stone kitchen. Most of the units measure a total of 130 m². The retail space measures a total of 128 m².
The building does not have a lift, and it would be needed to meet today's needs. The purchaser would need to add this feature in the future, which can be done with the right team of architecture firms. Lucas Fox Vigo works with various architects, contractors and engineers to introduce the group to potential buyers.
With a good design and future project, the next step is to introduce it to the Vigo planning board to approve the project. The property also has air rights. There is a possibility of adding more levels of space or units. Currently, the property generates a meagre investment yield, but has the opportunity to develop more yield equity with the right vision and renovation.
An ideal property for an investor/developer looking for a new project or an entrepreneur with a new business vision for a Real Estate project in the city centre of Vigo.