Description

Building for sale in the historic centre of Abrantes, central Portugal, offering potential for residential conversion into apartments for rental income or individual resale. Renovation work has already begun, with a new roof completed and outdoor areas providing parking at the rear, adding value to this property investment opportunity.
The property’s documentation is in order, including a certificate/declaration confirming construction before 1951. Purchase with bank financing may be possible, subject to lender approval.

DIFFERENT DEVELOPMENT POSSIBILITIES
An architectural design and the corresponding engineering designs have been completed for the creation of eight studio and one-bedroom apartments, with two apartments per floor, as part of a residential investment strategy for the building. This proposal has not yet been submitted to Abrantes Municipal Council.

PRIVATE TERRACE, GARDEN AND PARKING
The outdoor space is one of this building’s main features. In addition to a private first-floor terrace, the property includes a rear courtyard and garden area, with space to park three vehicles.
Vehicle access is via a rear access lane subject to a right of way, leading directly to the parking area. The second floor connects to the outdoor space via a walkway, while the top floor benefits from direct access to the rear grounds and open views over the city.
This combination of a central location, privacy and outdoor space enhances the building’s residential potential.

RENOVATION UNDERWAY AND HISTORIC CHARACTER
Arranged over four floors plus an attic, the building has undergone partial renovation. The new roof is already in place, and work on the roof structure has been completed.
The façade retains historic architectural features, including natural stone surrounds, balconies with ornamental metal railings and decorative detailing, all of which could be highlighted as part of the renovation.

URBAN REHABILITATION AREA AND RENOVATION INCENTIVES
The property is located within Abrantes’ designated Urban Rehabilitation Area (ARU), with the following rehabilitation incentives:
• Reduced VAT rate of 6% on urban rehabilitation construction contracts;
• Exemption from Municipal Property Tax (IMI) for up to 10 years for rehabilitated properties;
• A 30% reduction in IMI for three years for occupied properties in an adequate state of repair;
• Exemption from Property Transfer Tax (IMT) on the first transfer of a rehabilitated property;
• Refund of IMT on urban properties purchased and rehabilitated;
• A Portuguese personal income tax (IRS) credit equal to 30% of qualifying rehabilitation expenses borne by the owner, capped at €500;
• Exemption from municipal fees relating to maintenance, alterations, extensions, reconstruction and occupation of public space;
• Partial or full reimbursement of inspection fees used to determine the property’s state of repair.

IN ABRANTES’ HISTORIC CENTRE
Close to Teatro de São Pedro, the church and the castle, the building enjoys easy access to shops, schools, services and transport.
Its south-facing aspect and private outdoor space complement the central location. Lisbon is approximately 1 hour and 15 minutes away by car, depending on the route and traffic. The surrounding region also offers access to the River Tagus and river beaches.
Located within Abrantes’ Urban Rehabilitation Area, the property may qualify for the applicable renovation incentives.
Contact IMOBILIÁRIA ARGILIPE for further information and to arrange a viewing.

SUPPORT FROM IMOBILIÁRIA ARGILIPE
• Personalised estate agency services;
• Certified property valuations;
• Support throughout the buying and selling process, through to completion;
• Referrals to specialist mortgage partners;
• A property marketing plan with professional photography, video and digital promotion.