04 October 2024
We are pleased to present a new investment project in the heart of Castellón de la Plana: the "Pintor Soler Blasco" Project. This new project represents an exciting investment opportunity with great growth and appreciation potential in a booming property market.
The project not only offers attractive appreciation potential, but also aligns with current market trends that point to a sustained increase in property values in this area.
Below are the key details of this new project.
The Pintor Soler Blasco Project is presented as an innovative proposal within the real estate sector in Castellón. This development involves the transformation of a commercial ground floor with mezzanine into two modern independent housing units, adapted to the current demands of flexibility and functionality.
The acquisition price per square metre of a commercial property is much lower than that of a residential property, which allows for an immediate revaluation after the change of use. Additionally, from a single cadastral reference (commercial premises), two independent cadastral references will be obtained, which adds even more value to the project by creating two residential properties with greater flexibility for sale or rent.
With this refurbishment approach we seek to bring significant value to the property, maximise the use of space and respond to the growing demand for flexible housing solutions. While the main focus of the project is on renting to couples, the layout also allows the rooms to be rented individually, diversifying the options and offering greater income potential.
One of the greatest advantages of our investment in the Pintor Soler Blasco Project is the purchase price we have achieved. Thanks to careful negotiation and our collaboration with banks, we were able to acquire the property at a price per square metre much lower than the market value in the area, according to data from Idealista.com.
This gives us a significant competitive advantage, not only in a future sale, but also by being able to offer attractive rental prices. In a market with high demand and few quality opportunities, we are confident that this is a difficult opportunity to find today.
The Project is located in one of the most dynamic and vibrant areas of Castellón de la Plana, just a few metres from the emblematic Museum of Fine Arts of Castellón. This privileged location offers easy access to a wide variety of essential services, such as renowned supermarkets, including Masymas and Mercadona, making daily life easier for residents.
Furthermore, the area is not only commercially active, but also has excellent public transport links, making it an ideal location for both those looking for mobility and those who prefer to be close to the city's main points of interest. Just a few minutes away are the Plaza Cardona Vives and the historic Co-cathedral of Santa Maria, two of Castellón's most iconic landmarks.
The Project is designed to offer investors an opportunity for a solid, long-term return. We see strong financial potential in this investment, with a projected Internal Rate of Return (IRR) in excess of 10%, this development demonstrates strong potential for financial returns. The excellent location of the property, in a high demand area, together with the flexibility of the units, allows us to anticipate high occupancy and attractive resale value.
The final sales price is not only attractive because of the low cost per square metre (less than 350 €/m²), but also because in absolute terms it is low. This means that any investor, even with little savings, will be able to take advantage of this opportunity. Thanks to the transformation of the premises into two residential units, the added value will allow for a competitive price in the market, making it profitable for investors while remaining accessible to a wider public.
This ‘Pintor Soler Blasco’ project follows a similar strategic line to that employed in our successful Benasal Project, located in Castellón de la Plana. In Benasal, we are transforming a commercial ground floor into three independent flats, and we expect the results to be exceptional in terms of occupancy and profitability.
We believe that the Pintor Soler Blasco Project is an excellent investment opportunity in an area with high growth potential. In addition to the quality of the property and the attractive financial returns, the Castellón de la Plana area is in full expansion. Improvements in infrastructure and urban development are driving the revaluation of properties. Moreover, its proximity to Valencia and other key urban centres further enhances its attractiveness.
We are confident that this project will bring considerable value to our investors, and we remain committed to generating strong results in this dynamic market.
Soon you will receive an email to confirm your Brickstarter account.
We hope to see you soon!
