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| Mezzanine Investment Montenegro |
Country: Montenegro
Location: The site is located in Budva old town which is the main tourist area of Montenegro.
Investment Required: €10,000,000
Term: 24-36 months
Return: 50% Profit Share (projected profits of €75,000,000)
Development Name: Budva Hill Resort
Development Type: Residential Apartments
Introduction
The current value of the site with outline planning (as it stands today) is €27,000,000 (EURO). The final permit is pending which will value the site is excess of €33,000,000. Outline planning currently gives permission to build 17,500 m2.We have been advised and directed by CBRE and King Sturge as to what would be best for the site and the market and on this basis can confirm that the plan is to construct luxury high end apartments. CBRE will be the selling agents on the project and they believe it should be possible to sell all units off-plan.
Though the project is estimated at two years, for comfort we are projecting a three year term. Deloitte’s will be providing a guarantee that there is no issue over title regarding the site (valued at €50 million).The developer has extensive local experience and is fully committed to Montenegro with six sites between planning and construction. Further development also planned.
They have track record for the development type, with extensive experience in the UK commercial and residential market.
Following Information Available on request:
1. Current Valuation
2. Site Report
3. Report from Deloitte's concerning clear title
4. Summary financials
5. Supporting documentation for Residential development from King Sturge LLP |
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