luxury listed houses for sale Funchal, Portugal

Heritage, Exclusivity, and Extraordinary Construction PotentialDiscover a truly exceptional and highly rare opportunity in Funchal: a magnificent classified historic palace house, built on a spacious and privileged land plot of 3,440 m², in one of the most emblematic and prestigious areas of the city.More than a property of high heritage value, this property stands out for its extraordinary potential for appreciation and expansion, combining the possibility of rehabilitating the existing historic building with significant potential for new construction on the surrounding land.A singular heritage with space to growThe palace house currently presents a usable construction area of 399.5 m² and a total gross area of 435.5 m², distributed over four floors.The property preserves remarkable architectural and historical richness, with large windows, elegant balconies, authentic ornamental elements, and spacious bright rooms, including four bedrooms. Its rehabilitation will allow for the recovery of all the splendor of a period residence, while integrating modern comfort, functionality, and contemporary standards.However, the true differentiating element of this opportunity lies in the enormous additional construction potential of the land.According to a recent consultation/PIP, and without prejudice to the confirmation of applicable urban parameters and necessary approvals, the existing urban framework may permit the construction of two complementary residential buildings to the palace house, one on each side of the current historic building.This possibility adds an extraordinary dimension to the investment: beyond the enhancement and rehabilitation of the existing heritage, the large land plot could allow for the creation of a new high-quality residential area, maintaining the palace house as the central and distinctive element of the entire complex.Thus, this property features characteristics that are particularly rare on the market: a historic building with significant architectural presence, a large land plot, and additional construction potential that could multiply the value and usage possibilities of the whole.A project with multiple possibilitiesDue to its size, location, and configuration, this property can adapt to different development concepts, from an exceptional private residence supplemented by new constructions, to a prestigious residential project or a mixed-use solution, always safeguarding the character and identity of the historic palace house.The possibility of integrating the existing building with new constructions could enable the design of an exclusive residential complex, with contemporary architecture carefully articulated with the existing heritage, gardens, private outdoor spaces, and a high standard of living.The potential lies not only in the 435.5 m² of currently existing construction but mainly in the possibility of adding new construction to the ensemble, in accordance with the applicable urban framework and what results from the recent consultation/PIP.Privacy, Location, and PrestigeFully fenced, the property offers privacy, tranquility, and security, increasingly valued characteristics in a central and exclusive location.Its privileged location allows quick access to the center of Funchal, commerce, services, schools, restaurants, and main roads, balancing urban convenience with the spaciousness and secluded environment of an exceptional property.A rare opportunity in Funchal real estate marketThis is not just a historic palace house.It is an opportunity to acquire heritage, land, and construction potential within a single asset, in an excellent location.The combination of the historical value of the existing building, the exceptional size of the 3,440 m² plot, and the potential for additional residential construction suggested by the recent PIP/consultation gives this property a truly uncommon capacity for appreciation and development.An opportunity for those who recognize the value of a property that can be both a piece of Madeira's history and the foundation for a future residential project.Come and visit this unique palace house and discover the full potential that its 3,440 m² can offer.