Historic Building Renovation Opportunity in Elvas, Portugal

This listing presents a unique opportunity to acquire a prestigious historic building located in the heart of Elvas, Portugal, a city rich in history and poised for economic development. The property, spanning 706 m2, requires renovation and currently features approximately twenty rooms across two levels, with a patio, garage, and spacious terrace. Its architectural merits, including a central stone staircase, azulejos, carved stone windows, and high ceilings, contribute to its charm. A town council-approved project for a 16-room boutique hotel, designed to merge tradition with modernity, was granted in April 2023. Situated just 15 minutes from the Spanish border and 2 hours from Lisbon, the location is further enhanced by the ongoing construction of a high-speed rail line connecting Lisbon and Madrid via Elvas, with the local station slated for opening in Q1 2024. This makes it an excellent investment for those looking to capitalize on strong tourism prospects and infrastructure development.