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Key Benefits

  • The property's biggest attraction is the location. It has great views over the old town and is only 100 yards from the old cable car access point which is due to be renovated shortly. There are plans to create a golf course on the other side of the hill - the cable car will be an integral component in implementing access to the course
  • It is a house, currently divided into 2 flats, both of which are some 100m2, overlooking the old town. There are only 64 steps to one of the gates and the house is set back from the road
  • The building is about 70 years old and is in the process of being renovated. The upper flat has 3 good sized bedrooms, one bathroom and a reasonably large open plan kitchen and living room.
  • It has a large terrace/patio at the back and an outhouse, which would typically be used to house a grill or barbecue.
  • It is in one of the most expensive areas of the town, primarily because of the views over the old town, combined with easy access to it - it has the benefit of being just far enough outside the old town to avoid the crowds
  • It has a large roof space with planning permission for a conversion. This would mean it would be possible to make a separate, third flat from the property. This flat would have the benefit of an open roof terrace and  a side balcony as well.
  • The price, compared to other houses I have seen, given the location and the size of the property, is very competitive. Of all the properties I have seen, I would say that this represents the best value for money.
  • For 600k Euros you get 3 separate large flats.

Key Drawbacks

  • The flat still needs work doing to it, particularly if the roof were to be converted into a separate flat
  • It would be possible to keep the upstairs bit as one big property, including the roof conversion, but this would perhaps be too big. I would think a 3 bed flat on one level and a smaller one or 2 bed flat above would be the best layout, but this would involve a considerable amount of work, which would mean no income until the work were completed.
  • Because of the size of the property the investment needed would be more than for a single flat. This would necessitate either a bigger consortium or a bigger individual contribution, with the attendant difficulties each implies...

Pricing

Description Price (000s Euro)
asking price 540
works 40-60
Total 580-600

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Last modified: 10/17/04