DETECTED LANGUAGE: ITALIAN
Prime Development Plot in Javea Old Town Offers Significant Investment Potential
Here’s an interesting opportunity for anyone looking to develop in Javea Old Town. It’s a vacant urban plot, right in a sought-after residential area, and it’s ready for building. What’s really neat about this plot is that it has access from two different streets. One side faces a main road, which gives it good visibility, and the other side has a separate access road at the back. The land itself is completely clear and flat, meaning there are no demolition costs to worry about. A builder could start digging as soon as they get the necessary permits.
Two Ways to Make Money with This Development
Once the building is finished, there are two main ways an investor could approach making a profit. The first is to rent out the units. Given how many people are looking for housing in Javea throughout the year, both for holidays and longer stays, building 15 residences plus some commercial space here could provide a steady stream of rental income for a long time. The other option is to sell the properties. The mix of different types of units, including some really nice penthouses, means a developer could potentially make a good profit by selling the whole portfolio of homes.
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What You Can Build on This Land
The land is officially classified as developed urban land, which means you can build a multi-family residential building with a high density. To give you an idea of just how much can be built, a complete architectural feasibility study is included with the sale. This study maps out what’s possible on the registered 684 square meters, which becomes 572 square meters after accounting for land set aside for public use and municipal requirements. The plans show capacity for 15 residential units, which would include a variety of apartments: studios, one-bedroom, two-bedroom, and three-bedroom units. On top of that, there are plans for three impressive duplex penthouses, each with large private terraces, some up to 61 square meters. In addition to the homes, the ground floor is designed to accommodate two commercial spaces, either for retail or professional offices, totaling around 480 square meters, which also includes basement storage space. Below ground, the plans allow for a two-level basement that could fit 23 secure underground parking spots and 23 storage rooms, with an option to add 8 more parking spaces for extra income.
Smart Design for Easier Building and Lower Costs
A really clever aspect of this plot is how the two street accesses work with the natural slope of the land. The building is designed so that the entrance from the lower rear road is level with the basement, which helps with traffic flow and means less digging through hard rock is needed. The building itself is divided into two sections connected by a bridge on the upper levels. This design means only one elevator shaft is needed to service all floors. This can significantly reduce the initial construction costs and also lower the ongoing maintenance expenses for the residents.
Current Status and What’s Needed for Permits
While the original building permit has expired, the current owner has spoken with the local council about the plot. The council has reviewed the plans and indicated that renewing the permit shouldn’t be a major hurdle. Any new application will need to be updated to meet current building standards, which includes incorporating features like solar panels and improving energy efficiency. The asking price of €820,000 takes this into account, so a buyer could potentially see an increase in the property’s value once the permit process is completed.
How to Buy This Property
The property is being offered at a firm price of €820,000 directly from the owner. If you’re a qualified buyer and your engineering team wants to look at the details, boundary maps, and other relevant documents, they are available for review. For more details or to arrange a visit to the plot, interested parties should get in touch. The seller has specified that they are not working with real estate agencies.
