Block of Apartments #SBLK197032

FLORIANA, UNCONVERTED Block of 3 apartments Permit approved for 4 residential units or 7 units short let purposes.

An unconverted apartment block in Floriana currently consisting of 3 x 1-bedroom apartments within 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 having a total of 64sqm each, whilst the penthouse enjoys an internal area of 46sqm plus an additional 25sqm 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 coming in to 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 total of seven (7) rentable units for short-let purposes, having 3 studio units with an area of 27sqm each, 3 x 1-bedroom units with an area  of 37sqm each, and the same penthouse layout with a total area of 71sqm.

The property needs some structural work to be made in order to repair the damaged ceilings and also to build the receded floor at the current roof level. Planning permit is already in hand and works can commence within a short time period since BCA clearance was already obtained.

The building is priced to sell at 750,000€ and is Freehold.