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Development project in Prague 5.
Date & Time Listed: 2018-03-12 16:50:06 (GMT)
Project parameters. 1 residential building. The house has 7 floors above the ground and 1 underground floor (parking). The total area of the apartments is 3,200 sq.m. Total number of parking spaces is 36. Total cellars - 42. Total apartments - 27 or 32 - depends on the option that will be selected by the developer. The project has luxury apartments. Costs. The purchase price: 67 000 000 CZK (approximately 2 600 000 EUR). Construction: 169,000,000 CZK (approximately 6,500,000 euros). Indirect costs: Architectural project - 5 000 000 CZK (approximately 190 000 EUR). Engineering costs: CZK 1,800,000 (approximately EUR 70,000). Construction supervision: 1 600 000 CZK (approximately 61 000 EUR). Insurance: 900 000 CZK (approximately 35 000 EUR). Occupational safety and health: 1 000 000 CZK (approximately 38 000 EUR). Marketing: 1 800 000 CZK (approximately 70 000 EUR). Others - variable costs (legal, audit, accountants): 5 000 000 CZK (approximately 190 000 EUR). Total: 9 754 000 euros.
Prague 5 - one of the administrative districts of the city of Prague. Located on the left bank of the Vltava River, directly opposite the historic center of the city. The object is located in the metro area of Andel. Real estate near the metro Andel is traditionally prestigious and in demand - it's practically the center of Prague, but at the same time there are fewer tourists here than in the Old Town. Near the metro is one of the most beautiful and convenient shopping centers - Novi Smichov. Literally 5 minutes walk to the Vltava embankment and to the Petřín gardens.
The project cost is 9 754 000 euros. The Bank is ready to participate in this project and can generate financing for the amount of 6 500 000 euro at a rate of 3.5% per annum. Variant of investment A (the lowest price for such property): 95 000 CZK per 1 sq.m. (including parking, cellars) - approximately 3,650 euros. 95 000 CZK x 3 200 sq.m. = 304,000,000 CZK - approximately 11,692,000 euros. Income under option A: € 11,692,000 (income) - € 9,754,000 (expenses) = € 1,940,000. Income (without VAT). The investment option B (average prices on the market) is 115 000 CZK per 1 sq.m. (including parking, cellars) - approximately 4 420 euros. 115 000 CZK x 3 200 sq.m. = 368,000,000 CZK - approximately 14,150,000 euros. Income B (without VAT): 14,150,000 euros - 9,754,000 EUR = 4,400,000 euros. Terms of implementation: 1,5-2,5 years Participation of investors / developers = 70% / 30% Total income of the investor (A) - 1,358,000 euros. Total income of the investor (B) - 3 080 000 euros. Investor participation includes project financing. Developer participation includes supervision, organization and implementation of the project. The documents are ready for the deal. Additional information is available upon request.
Price: 9,754,000.00 EUR
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