Archena, Valencia

Financed & In Progress

Project Overview

For the ones who have been looking at the other projects that are currently taking place, you will notice that for this project we are using the same investment strategy: changing the use from commercial to residential. Additionally, what is making this project a bit different, is that we are requesting a tourist license to be renting out the newly created units as short term rentals. The commercial space almost has a total of 500 M2, divided between 380 M2 of constructed apartment space and 115 M2 of outside terrace. These square meters will be redistributed among the apartments with respectively 100, 115, 40, 140, and 75 M2 rougly speaking. Based on the newly created apartments and studio, the units will have 1, 2, or 3 bedrooms and 2 bathrooms all with an open kitchen design. 

We are choosing for 2/3 bedrooms and 2 bathrooms in these projects because having 2/3 bedrooms makes it easier to sell in general terms as this is a sign of luxury in apartments in Spain. This also works well in touristic apartments renting per day.

The strength of this project is that the properties are bought for commercial prices and sold for residential prices or kept as touristic units with high rental yields. Commercial real estate is valued lower because of its use, so when you find a property that ticks all the boxes of being able to convert into residential real estate it usually means a healthy project margin. Keep in mind, though, that conversions like these do need a big and in some cases complex renovation. 


Project Schedule

Renovation: 6-8 months
Listing Period: 1-2 months (partly overlapping)
Expected Total Project Period: 8-10 months

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