Plot – Residential for Sale in Estepona, Málaga, Spain

Plot Size: 95000 m²
EUR 33,000,000
SER2980928
For Sale
Plot – Residential for Sale in Estepona, Málaga, Spain

•Property: 5 plots for new development
•Status: 98% urbanized plus 3 structures
•Residential, commercial and hotel use
•Legally qualified plots
•95,011m2 plot of land
•53,443m2 constructible area
•Land registry: 66M€ registered value
•Appraisal land 2005: 57M€ valuation
•Official sales price: 46M€; Reduced 33M€
•531 residential units (luxury apartments)
•2,650m2 commercial center

The plot is legally qualified also for hotel use. A hotel project would allow for an increase in the constructible area by 25% plus an additional floor given that the municipality is looking to develop the hotel / tourism offers in the area. At 100% hotel use = 66,803m2 buildable area. Preliminary talks have also been held with the local municipality confirming the use for education (international school, university) or use for residence (third age, nursing home, etc.) would also be feasible.