Undeveloped Land for sale in Estepona, Málaga

Exceptional Development Opportunity in Estepona Old Town – Apartments or Boutique Hotel

A rare opportunity to acquire a development site in the heart of Estepona's historic Old Town, just a short walk from the beach, restaurants, shops and all the amenities that make this part of Estepona one of the most desirable locations on the Costa del Sol.

Located on Calle Caridad, this property offers investors and developers the possibility to create an exclusive small-scale residential project or to revisit the original boutique-hotel concept.

The site currently consists of a cleared development plot of approximately 136.63 m², with a frontage of approximately 5.03 metres onto Calle Caridad.

A recent architectural capacity study has explored the residential potential of the site. Under the planning parameters considered by the architect, the property allows for approximately 353 m² of above-ground buildable area, with a maximum of three residential units.

The proposed residential concept envisages an intimate development of just three apartments: a ground-floor residence of approximately 71 m² with private outdoor space, together with two apartments of approximately 86 m² each on the upper floors. The concept also incorporates a communal rooftop terrace with swimming pool, creating a particularly attractive product for the premium Estepona Old Town market.

As an alternative, buyers can also explore the original El Crucero boutique-hotel project. The existing project concept was designed around an 8-room boutique hotel, including reception and bar areas, guest rooms, communal spaces and rooftop facilities. The current hotel project documentation refers to a total built area of approximately 484.89 m² including the basement.

This flexibility makes the property particularly interesting for a private developer, family office, boutique hospitality operator or investor seeking a distinctive project in central Estepona.

The location is one of the strongest elements of the opportunity. Calle Caridad sits within the traditional historic centre, surrounded by the characteristic pedestrian streets, whitewashed façades and Andalusian atmosphere for which Estepona has become increasingly renowned, while remaining within easy walking distance of the seafront and the town's commercial centre.

Two potential development strategies can therefore be considered: residential development of up to three apartments, or redevelopment based on the existing boutique-hotel concept.

The residential scheme shown is based on an architectural feasibility/capacity study and is not currently a licensed three-apartment development. A new project and planning licence would be required for conversion to residential use. The status and validity of the existing hotel-related licence/project documentation should likewise be independently verified with the relevant authorities.

A compelling opportunity to create a small, high-quality development in one of Estepona's most sought-after central locations.