description

694 m2 Plot | Approx. 1,250 m2 Buildable Area | Outstanding Opportunity for Developers and Investors A consolidated urban development plot located on Pío XII Street (Marmolejos – Gáldar), offering 694 m2 of land under B2 Planning Regulations, with an approximate buildable area of 1,250 m2, presenting an excellent opportunity for a residential development or the construction of a substantial detached home. The plot currently includes an underground water reservoir of approximately 600 m2, with an estimated storage capacity of 2,400 m³. The potential reuse of this infrastructure can be assessed by the purchaser's technical team according to the proposed development. Planning Information Consolidated Urban Land. Plot size: 694 m2. B2 Planning Classification. Building ratio: 1.80 m2/m2. Approximate buildable area: 1,250 m2. Maximum permitted height: 2 storeys (8.50 metres). Possibility of constructing a basement or semi-basement. Maximum site coverage of up to 90%. Direct access from a public urban road. Development Potential Current planning regulations allow for a variety of residential development options. As an indication only, a project making full use of the permitted buildable area could achieve an estimated gross sales value of between €2.2 million and €2.6 million, depending on the final design, housing typology, construction specifications and prevailing market conditions. The current asking price represents approximately 11% to 13% of the potential gross development value (GDV), making this a particularly attractive opportunity for developers assessing the residual value of the land. Permitted Uses Residential apartment development. Detached family housing. Commercial premises. Office space. Garages and parking facilities. Small hospitality businesses. Other compatible uses permitted under the B2 Planning Regulations. Documentation Available The property is offered with the following documentation: Urban Planning Certificate issued by Gáldar Town Council. Land Registry documentation. Cadastral documentation. All documentation will be made available to interested parties to facilitate a comprehensive feasibility assessment and streamline the due diligence process.