Otro, Torremolinos
About this property
Investment opportunity in one of the most strategic locations in Torremolinos, just a few metres from the promenade and the beach, at Pasaje Peligro No. 3, in the second line from the beach.
The asset sits on a plot of approximately 145 m² and currently includes an existing building whose condition requires comprehensive refurbishment or replacement, offering the possibility of developing a new project adapted to the buyer’s needs and the applicable town-planning regulations.
The planning framework allows for the consideration of different uses, including residential, tourist, tourist apartments, catering or hotel use, always subject to the corresponding planning feasibility assessment, project and licences.
According to the initial proposal, the resulting buildable area could be approximately 400 m², developed in a ground floor + 2 floors configuration, depending on the planning conditions and the final project.
Main features:
- Plot: approximately 145 m²
- Existing building: for comprehensive refurbishment / replacement
- Expected height: Ground floor + 2 floors
- Estimated buildable area: approximately 400 m²
- Location: second line from the beach
- Potential uses: residential, tourist apartments, catering/hotel use, subject to regulations and licences
- Excellent location for developing a tourist or residential project
- Possibility of considering different operating and payment structures with the owner
The owner is currently asking €950,000, although they are open to considering alternative proposals and creative transaction structures, including arrangements that may combine an initial payment with a contribution or transfer linked to the development of the project, always subject to negotiation between the parties.
An especially attractive opportunity for developers, investors and tourism operators seeking to develop a new-build or transformation project in an established location in Torremolinos, just a few metres from the sea.
The information relating to buildable area, permitted uses and floor areas is indicative and must be confirmed through the relevant planning documentation, technical project and municipal licences.