For Sale Investment Project Bulgaria, Burgas Region Obzor price on request
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Property #:
4082151
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Area:
Bulgaria, Burgas Region
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Region:
Obzor | Obzor
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Type:
For Sale | Investment Project
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Price:
On request
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Quadrature:
120229.00 m2
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Extras:
regulation, design visa, electricity, water, drains/sewers, sea view, on request, no commission, hot property
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Usage:
business property, for construction
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Comments:
Regulated land properties for sale in Obzor, Bulgaria with an area of around 120 229 sq. m., assigned for multi-storey resort construction, for public service and business activity , located in the land of town of Obzor, Nesebar Municipality, on the east side of the main road Varna - Burgas .
• Land plot of 120 229 square metres as per title deed on a prime location.
• Full planning permission with building permit for 203,000 square meters (¹ 26 and ¹27 from 22.03.2007)
• All working Drawings with master plan ready to build
The development site is in one of Bulgaria’s best beach areas, Obzor and is a short distance to the heart of this unspoilt, rapidly expanding seaside town of around 3000 inhabitants.
The site is adjacent to the Sea with direct vehicular access off road E87.
Enjoying a direct approach to the Sea, the site benefits from the closest beautiful sandy beaches, edged by rugged sea cliffs.
Being in the very centre of the coastline and within easy reach of both Varna and Bourgas
The development site is in one of Bulgaria’s best beach areas, Obzor and is a short distance to the heart of this unspoilt, rapidly expanding seaside town of around 3000 inhabitants.
International Airports, getting to Obzor could not be easier and makes the site an ideal location.
All the advantages of location, beach asses, privacy and the amenities of both Byala and Obzor, only minutes away.
.. Intensity factor (coefficient that gives the maximum total build-up area) – 2 (i.e. on 100 281 m2 assigned for construction, the company can build maximum 200 562 m2)
.. Floors – 6
.. Height – 18m
.. Building density – 30% (i.e. the footprint of the construction on the site can be maximum 30 084 m2)
.. Green areas – 50%
Full planning permission with building permit for 203,000 square meters (¹ 26 and ¹27 from 22.03.2007)
Project Development Alternatives
Alternative 1
Announcing the project for sale as a whole or in parts
Alternative 2
Assigning right of construction for a compensation by part of the built-up area
Project development of the land plot in Obzor, Bulgaria, by drawing in an independent investor, on the basis of assigning right of construction. The project may be carried out with minimum investments and at minimum risk, usually pursuing the construction process. At present in Bulgaria, assigning construction right is often put into practice. By getting the construction right, the investor undertakes the obligation to build at his own expenses and hand over into possession to the landowner the afore-agreed square meters of built-up area. The terms and level of completeness of the project (or part of it) shall be stipulated in the contract.
Basic principles:
1.Since the landowner is the one that bears the risks of extending the dead-line of construction and respectively of reduction of return of investments, the responsibility of the investor for breaking the terms of the contract, in particular the dead-lines of construction, shall be strictly fixed.
2.To minimize the risks, the contract shall be carefully reviewed by a lawyer.
3.The landowner doesn’t take part in the construction, but has the right to control the quality of the construction works, as well as the dead-lines, stipulated in the contract.
4.The landowner and the investor are individual legal entities and do not establish a joint company.
Alternative 3
Joint financing of the project
In this case, the joint financing shall be carried out on the basis of the capital expenses of each party, in compliance with the following basic principles:
1.An impartial evaluation of the market value of the land plot, that is subject of the project development, shall be worked out.
2.A new joint company shall be established. The owner of the land participates in the company capital by depositing the land plot for the project and the other investor – by depositing financial means for the development of the project, until the project starts self-financing from sales. Afterwards, financial estimates of the project shall be agreed and accepted by both parties.
3.The proportion between these monetary and non-monetary deposits in the capital is essential for the future equity participation of owner of the land and the other investor in the new company and respectively will determine the shares of distribution of the future project profit.
4.The contract shall be carefully reviewed by a lawyer.
5.In case of exceeding the preliminary agreed budget, both parties, participating in the new company, shall invest additional resources, proportional to their shares, in the form of additional deposits to the capital or as loans.
GRAND™ Real Estate Agency
Address: Bulgaria, Varna, Strahil Voyvoda str. 42
Phone: +359 52 611 877
email: info@grand.bg
Please, do not hesitate to contact us!
Here you can send inquiry about the property #4082151
