Literally a few minutes from Estepona town, marina and beaches yet on the fringes of Los Pedregales national park. Views of countryside, mountains and sea. (see Area Plan and Location Plan)
THE LAND
A sloping site of 7,400m2 with the large rectangular section (see site plan) at the higher level. Villas built at this level will have superb sea and mountain views.
THE POTENTIAL
Under the new Area Plan the property has been zoned for development. Due to its position on the fringes of the city the permitted development will be low density and it is believed that it will be for high quality individual villas on large (1000m2) plots.
THE HOUSE
Four years ago the original property was in appalling condition. Leaking roofs, cracked and crumbling walls with both rising and penetrating damp, broken and uneven floors, antiquated electrics and plumbing, collapsed drains and a sadly neglected garden and orchard.
Now the property is transformed. Most of the original house has been demolished, retaining just a small part of the ground floor. A new home has been built around that small retained part. Modern materials have been used and of course all the services and installations are brand new and comply with all modern regulations. Great emphasis has been placed on the design, layout and use of light. Much thought has been given to the fluent communication through the house and the external terraces, pool and garden areas. The result is a large, comfortable and very spacious family home that encourages full enjoyment of both interior and exterior space.
For photos of the house, click here For details of the house, click here
VALUATION
The existing property has a bank valuation dated December 2004 in the amount of €1,140,000. ( One million, one hundred and forty thousand Euros )
Current market value of a 1000m2 plot in this area (if available) with outline development permission would be around € 240,000 ( Two hundred and forty thousand Euros )
Based on this and with due allowance for multiple plot purchase and probable timescale,
€ 1,500,000 (one million, five hundred thousand Euros)
for the freehold purchase.
Serious consideration would also be given to a structured deal involving say, part purchase now and a future commitment subject to confirmed planning guidelines.
For more information, email info@millarhomes.com
or phone our office at +34 956 79 68 25.
