Property with approved PIP for a single-family home, garden and parking | Foz Velha

Property with approved PIP for a single-family home, garden and parking | Foz Velha

A unique opportunity to develop a landmark home in one of Porto’s most exclusive and authentic residential areas.
Located on a quiet street in Foz Velha, the property currently consists of three independent urban properties sold together and now benefits from an approved PIP for the rehabilitation and development of a single-family home, combining the historic character of the location with a contemporary architectural approach.
The approval of the PIP represents an important added value for the future owner, providing greater certainty regarding the development potential of the property and significantly reducing the planning uncertainty usually associated with a project of this nature.
According to the approved documentation, the project provides for:

• 197.25 sqm of total above-ground construction area;
• 124 sqm building footprint;
• distribution over two above-ground floors;
• residential use;
• private outdoor areas;
• garden integrated into the project;
• topographic survey already completed.

The topographic survey has also made it possible to determine the physical size of the property more accurately: 238 sqm of land, instead of the 288 sqm historically recorded across the three cadastral properties.
For PIP purposes, 228 sqm of land are considered, as this area already reflects the setback of the boundary wall required for the widening of the public road. Therefore, 238 sqm corresponds to the actual surveyed land area, while 228 sqm is the area considered for planning purposes within the approved proposal.
The approved configuration is designed to create a contemporary, bright and functional home, with a strong connection between indoor and outdoor spaces and the flexibility to develop a residential solution suited to modern family living.
The property enjoys a particularly sought-after location in Foz do Douro, close to leading schools, shops, restaurants, services, the river and the Atlantic coast.
Just a few minutes from Universidade Católica Portuguesa, Oporto British School, Passeio Alegre and the beaches of Foz, the location combines the tranquillity of Foz Velha with excellent access to Porto’s main areas.
The surrounding neighbourhood is predominantly residential, characterised by a combination of traditional houses and contemporary rehabilitation projects, making this property particularly attractive for those looking to create a distinctive family home or undertake a rehabilitation investment in one of Porto’s most desirable areas.
The property is also located within an Urban Rehabilitation Area, which may allow access to applicable rehabilitation incentives, subject to confirmation of the relevant legal and tax requirements.
Sale price: €585,000
Technical note
The property is sold in its current condition and comprises three independent urban properties. The cadastral documentation still reflects the historic areas of the three properties.
The PIP has been approved, with the corresponding municipal formal notice expected to be issued. The approved summary provides for 197.25 sqm of construction area, 124 sqm of footprint, two above-ground floors and residential use.
The final conditions of the urban development operation, architectural project, subsequent licensing and any other applicable requirements should be confirmed through the relevant municipal notice and documentation.
Schedule your viewing with Atlantic Prime Living and discover the potential to create a unique home in the heart of Foz Velha.
Atlantic Prime Living — Private Real Estate Advisory
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