Land for sale in Budva

A PRIME SITE FOR RESIDENTIAL DEVELOPMENT IN BUDVA, MONTENEGRO THE SITE The Site is about 42.000m2 out of which, by the local spatial planning conditions, about 11.000m2 is set aside for internal roads and other infrastructure and therefor is not included in the sale. A total of 31.155m2 is offered for sale on which new developments totalling GBA of 38.000m2 can be developed. The current owners refer to it as the “Golden Hillside” because of the beautiful sun settings which paint the Site in golden-yellowish colours every day. The Site is tucked away in the beautiful background the green hills above Budva that provides privacy, peace and enjoyment. The Golden Hillside development is planned as a luxurious gated residential separated complex from the town which in addition to the extraordinary view over the Budva city and the Budva Bay offers exceptional condition for holidaying, resting or recreation. It is 10 minutes walking distance to the Budva Old Town and with easy access to the motorway, Tivat Airport, Lustica Bay or Porto Montenegro are all reachable within 30 minutes by car. THE GOLDEN HILLSIDE DEVELOPMENT CONCEPTS There are two development concepts with conceptual design shown below in the picture gallery as architect’s impressions: a. a higher density contemporary design stand-alone residential buildings Ug+G+2 or Ug+G+4 with various size apartments or b. luxury classic style villas with large terraces and courtyards. In the close neighbourhood of the Site other investors have built classic style luxury villas with swimming pools all with commanding view of the Budva town and in the tranquillity and splendour of the hillside. We present photographs a couple of such villas below in the picture gallery. All villas and apartments will have: • Garage space provided for every residential unit, one or more depending on the size of the residential unit • Additional parking spaces for visitors • Swimming pools and sunbathing areas • Green roof gardens • Video and other security devices At the project/Site level • Maintenance and upkeep of all properties • Maintenance and upkeep of common green and infrastructure areas and facilities • Necessary retail and commercial content • Restaurants and bars • Multipurpose sport facilities • Kids playground • A gym and a spa centre FINANCIALS The current market price for the residential properties of this type for this type of location is between €2.500-3.500 depending of the level of luxury. We estimate the exit value of the project is between €80-110 million. The price of the Site is set at €8,5 million which is about 10% of the value of the project. Details of our project calculation values are set out in the sale prospectus which we will send you upon your request. INVESTMENT IN TOURISM IN MONTENEGRO Montenegro is one of the fastest growing tourist destination in the Mediterranean. Tourism development focuses on the luxury and upmarket holiday segment. The Government is trying to develop Montenegro as an all year round holiday destination. In mid-August 2019 the Montenegrin Government announces its intention to invest over €100 million in developing ski resorts infrastructure in Montenegro by 2022 further reinforcing Montenegrin claim as “all year-round holiday destination”. This is a further boost for private investments in tourism in Montenegro. FURTHER INFORMATION We are sole advisors to the seller. If this acquisition opportunity is of interest, please contact Zoran Mitic by email [email protected] or by phone +381 11 36 35 935 or mobile phone +381 11 63 377 960 for more information about Site and its potentials. We have prepared an extensive sale prospectus for the Site which include legal, design, financial and other relevant information which will help you fully appreciate and assess this Site. For more information please follow the link https://seecap.com/_english/golden_hillside.html

Land for sale in Budva

Land Plot 42,000 m<sup>2</sup> for sale

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