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Ref: MLSC7489697
Property marketed by The Property Group
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An excellent investment opportunity is presented in the heart of Torrevieja: a complete building comprising a ground floor and first floor, located just 100 metres from the Town Hall and 400 metres from the beach Its prime central location, surrounded by all amenities, shops, restaurants and transport links, makes it an ideal asset for both residential use and property developmentThe ground floor offers 98 m² of built area on a 108 m² plot It requires full refurbishment, providing the perfect opportunity for the buyer to design and customise the space to their needs The layout includes 3 bedrooms, 1 bathroom, and an internal patio of approximately 10 m², which brings natural light and ventilation into the propertyThe first floor benefits from an independent entrance, adding value and flexibility It has a built area of 92 m², along with a 3 m² storage room and a spacious private solarium of 90 m², ideal for enjoying the Mediterranean climate The property was refurbished in 2007 and comprises 3 bedrooms, 1 bathroom and a utility/gallery area, offering a good standard of living with potential for further improvement or modernisationThe building is located in a well-established area with all services within walking distance, ensuring strong demand for both rental and resale following redevelopmentSeveral purchase options are available: · Joint sale of both units at €300,000 each (€600,000 total), ideal for developers or investors · Part-exchange option: €320,000 plus one residential unit from the future development delivered by the developerA unique opportunity to develop a property project in one of the most sought-after areas of the Costa Blanca, with strong potential for capital growth!!
Property Features
- 6 bedrooms
- 2 bathrooms
- 195m² Build size
- 108m² Plot size
- Pool-Communal
- Balcony
- Solarium
Costing Breakdown
Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
57,000€
Final Payment of 90% on completion
540,000€
Property Purchase Expenses
Property price
600,000€
Transfer tax 8%
48,000€
Notary fees (approx)
600€
Land registry fees (approx)
600€
Legal fees (approx)
1,500€
* Transfer tax is based on the sale value or the cadastral value whichever is the highest.
** The information above is displayed as a guide only.
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Spanish Property News & Updates by Spain Property Portal.com
In Spain, two primary taxes are associated with property purchases: IVA (Value Added Tax) and ITP (Property Transfer Tax). IVA, typically applicable to new constructions, stands at 10% of the property's value. On the other hand, ITP, levied on resale properties, varies between regions but generally ranges from 6% to 10%.
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