Valletta-Palazzo

Valletta, South Eastern Region
€2,800,000

Description

Unconverted Palazzo situated bang in the centre of the commercial part of central Valletta (Merchant's Street), where the street is not only flat, but also pedestrianized, a few meters from the President's Palace and Suq tal-Belt. 

Ideal as a conversion project for offices (a corner away from the law courts), or ideally a 6-8 double bedroom Boutique Hotel, PLUS a busy cafeteria or restaurant, with the potential for outside seating in reserved area in the street in front (subject to permit), which is as yet unoccupied, giving massive turn-overs of tables and income generation. Continual passing trade and best potential in this popular dining area. 

The property consists of a nice entrance, complete with vaulted ceiling and patterned tiles, that leads onto 3 sizable rooms at ground floor level, as well as other smaller rooms. A characteristic courtyard that is presently roofed over (with opaque PVC) is located in the middle of the Palazzo, and two separate steps that lead down to basement level, but have however been closed off (Potential to unearth a cellar). Back rooms have windows onto another courtyard, but which is not part of this property. 

A imposing staircase giving onto the courtyard leads to the second floor which largely replicates the ground floor. The property enjoys the full third floor which replicates the other floors PLUS has a huge room over Merchant's Street that is around 12m x 5m and enjoys two windows and a typical Maltese balcony, that can easily be converted into two separate rooms with ensuite facilities.The house next door has two more floors, and thus there is potential for development at roof level. 

Structurally sound and all rooms enjoy high ceilings. 

Overview

Basic information
Price €2,800,000
Ref. number 15835
Location Valletta, South Eastern Region
Property status Very good

Location

Med Mazhoud 99000433

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