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Residential   Ref: S1053

Upper Town

Gibraltar

£2,600,000

£2,793 per sqm


  • Bed Icon 10 bedrooms
  • Bath Icon 10 bathrooms
  • House Icon 931 m2
Rates:
£80.33
Service Charges:
£145.21

‘ATTENTION ALL DEVELOPERS ‘ EXCELLENT redevelopment opportunity to acquire a RESIDENTIAL FREEHOLD BUILDING IN THE UPPER TOWN AREA WITH OUTLINE PLANNING PERMISSION GRANTED FOR REFURBISHMENT AND RE-DEVELOPMENT QUIET & CONVENIENT LOCATION ELEVATED SITE WITH SUPERB VIEWS OF THE BAY OF GIBRALTAR IN NEED OF COMPLETE REFURBISHMENT PLANNING REF: PO/18171/22

BFA estate agents are pleased to offer this large early 19th-century freehold building in the Upper Town, located a short walk from Main Street with an abundance of amenities ranging from retail to foodstuffs, etc, the ideal location for anyone looking to reside within the historic town centre.

This is the perfect project for a developer looking to purchase a buy-to-let investment. The property currently offers 16 individual apartments, of which 75% are vacant with only 4 tenants remaining, and it is prime for regeneration. The building offers many architectural features, such as a cantilevered corridor with casement windows, and a central patio reminiscent of its past. It is in an elevated position, offering the upper floors stunning west-facing views of the Bay of Gibraltar.

For full details on the planning permission, please click on the following link: - Town Planning

For further details or to arrange a viewing, please contact us on tel: +350 200 71131 or email: info@bfagib.com

 



£2,600,000

£2,793 per sqm

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About Upper Town

The old town of Gibraltar is based on the West side of the Rock, and is now referred to as Upper Town. Whilst it is not far from the City Centre, there are a lot of steep hills, and parking is at a premium.



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Stats Icon Market Stats

Average price for sale in Upper Town of properties currently on the market:

Studio: £235,000 £4,700 per sqm

1 bed: £299,500 £5,816 per sqm

2 beds: £368,893 £5,237 per sqm

3 beds: £826,181 £6,149 per sqm

4 beds: £1,969,433 £6,823 per sqm

5 beds: £1,150,000 £5,315 per sqm

6 beds: £2,750,000 £6,858 per sqm

10 beds: £2,600,000 £2,793 per sqm

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