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Floriana Block of Apartments (Res)

Reference No. 026526

For Sale

€750,000

Floriana – An unconverted apartment block in Floriana currently consisting of 3 one-bedroom apartments, and an approved Planning Authority permit to construct a studio penthouse at the existing roof level, thus having a total of four (4) approved residential units. All units are very comfortable in terms of size, with the 1-bedroom apartments measuring a total of 64 sqm each, whilst the penthouse enjoys an internal area of 46 sqm plus an additional 25 sqm of external space. It is important to note that the penthouse will enjoy very good views of the Grand Harbour, as well as clear side views stretching up to Castille Square in Valletta. 

 

A passenger lift is also approved within the proposed drawings, that goes all the way from the ground floor up to the penthouse level. It is also important to note that there are no steps whatsoever when entering the building from the street, so the building can be made fully accessible. 

 

A second proposed layout is also in hand whereby the building can be converted into a guesthouse that will satisfy all of the requisites of the relevant competent authorities. This will comprise eight (8) rentable units for short-let purposes, plus a reception area, a breakfast room with an adjacent food preparation area, and a luggage room. 

 

The property needs structural work to be made to repair the damaged ceilings and to build the receded floor at the current roof level. The planning permit is already in hand and works can commence within a short period since BCA clearance was already obtained. A contract of works can also be arranged for the works involved, up to shellform. 

 

The property is situated a mere 2-minute walk from King George V Gardens which has just recently undergone upgrade works and where one can enjoy spectacular views of the Grand Harbour. Both Valletta Main City Gate and Valletta Waterfront are a 10-minute walk away from the property, making it an ideal investment both for long-lets as well as short-lets.

 

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Reference No. 026526

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