This is something interesting and unique for sale, it’s a shopping centre in a quiet area of central Funchal opposite the lovely small Sao Pedro Church. It’s a shopping centre with indoor and outdoor shops, offices and apartments. I note there could be a fabulous rooftop or loft penthouse created to look over the rooftops and towards the harbour. I think this would be an interesting investment and more attractive than buying and running a hotel with all the staff, guests and catering, I´d also imagine this is a quite cool lifestyle, living over the shopping centre and watching the church weddings from the rooftop!
Both shops and apartments have a really good income and also has the option of converting the other floors into holiday apartments.
The government is really trying hard to build up and renovate the area around Sao Pedro Church, just walk around that area and you will see buildings in full renovation rather than just new apartment blocks going up. It’s good not to see anything like so many empty properties these days, Funchal still has too many lovely old abandoned houses, and more and more are being renovated now.
Have a look at this site if you’re interested in an investment, for all the details about the building and contact information.