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La Reserva del Madronal is one of Southern Europe´s finest addresses, located next to the famous La Zagaleta Country Club, just a short drive from the designer bars and boutiques of Europe´s premier yacht harbour, Puerto Banus.

This private estate is home to the rich and famous – hardly surprising given that it offers the discerning buyer total privacy and 24 hour protection. Majestic villas and mansions dot the dramatic landscape, and with a minimum plot size of 3,500m2, owners can be sure of one thing – guaranteed exclusivity.

A sought-after plot of land of 5,668m2 within the estate is now available a fantastic price of 395,000 euros – that´s around 70 euros per m2.

In addition to the plot, there’s the possibility of a fully managed project to develop a sumptuous 5 to 7 bedroom mansion, with luxury specifications to include beamed cathedral ceilings, luxury kitchen and bathrooms, and a large heated swimming pool.

Total build costs for this particular house-plan are anticipated to run to approximately 900,000 euros, meaning a likely total project cost of around 1.3 million euros.

When you consider that comparable completed properties within the same estate are currently being marketed for between 2,000,000 euros and 4,000,000 euros, you can see the potential uplift that may be available to the savvy investor.

Total project timescale (from purchase of the land to completion of the build) is 18 months – 2 years. Access to specialist purchase and tax advice, together with superb interest-only mortgages to facilitate the build, based on up to 70% of final estimated project value are also available (subject to status and usual lending criteria).

More information from Your Key To Spain

Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?

Continue reading: What IS cheap Spanish property?