A fantastic opportunity to purchase an exceptionally spacious traditional Spanish property with approximately 431m2 built, standing on a generous 765m2 plot and situated just a few hundred metres from the beautiful Lake Bermejales, near Alhama de Granada. Currently arranged as two adjoining houses with separate entrances, the property offers enormous flexibility. It could be renovated to create one impressive large family home or retained as two independent properties – perfect for extended family, guest accommodation or living in one while renting the other. Its size and lakeside location could also make it ideal for a B&B or rural tourism project, subject to the necessary permissions. The property requires renovation but offers an excellent opportunity to create something truly special. To the front is a private patio with two separate entrances. The main house opens into a large, spacious lounge. On the ground floor there is also a kitchen and bathroom, with patio doors providing access to the extensive rear patio and garden. Upstairs are three bedrooms. The adjoining second house has its own independent entrance from the front patio. The front door opens into another spacious lounge, with a kitchen and family bathroom on the ground floor. Upstairs are a further two bedrooms. The two houses could therefore remain completely independent or be combined to create one substantial five-bedroom family residence with multiple reception rooms, kitchens and bathrooms. One of the property's biggest attractions is its outside space. To the rear is a large, level plot offering enormous possibilities. There is plenty of room to potentially install a private swimming pool, create an outdoor kitchen and barbecue area, landscaped gardens, terraces and chill-out areas. The property also benefits from large storerooms and a barn, providing valuable additional space and further possibilities for the new owners. Located at the Poblado del Embalse de los Bermejales, within the municipality of Arenas del Rey, the property is only a few hundred metres from the lake and within walking distance of a bar-restaurant. Lake Bermejales is a beautiful location surrounded by countryside and mountains and is popular for swimming, kayaking, fishing, walking and cycling. The nearby village of Arenas del Rey provides everyday amenities, while the historic spa town of Alhama de Granada is approximately 20 minutes away and offers supermarkets, shops, schools, medical facilities, restaurants, cafes and traditional tapas bars. The property is also well positioned for exploring Granada province, the mountains and the Mediterranean coast. Approximate driving times. • Alhama de Granada – 20 minutes. • Granada Airport – 45 minutes. • Granada city – 1 hour. • Malaga coast – 1 hour 15 minutes. • Sierra Nevada Ski Resort – 1 hour 30 minutes. • Malaga Airport – 1 hour 45 minutes. With 431m2 of existing build, a 765m2 plot, two separate living areas, five bedrooms, extensive outdoor space, storerooms and a barn, this is a rare renovation opportunity in a fantastic location. Whether transformed into a large family residence, two independent homes, a home with rental accommodation, multigenerational property or B&B, the possibilities are exceptional. A unique opportunity to create your dream property just a short walk from Lake Bermejales in beautiful Granada, Andalucia.