We present you an exceptional investment opportunity with great profit potential - a plot of land with a development area of 10,000 sq m, located in the Chaika resort, Varna.
The property has an area of 7234 sq m, with a rest house built on the land, consisting of: 1. A hotel block on four floors and a basement, intended for a hotel, with a built-up area of 422 sq m and a total area of 2110 sq m and 2. A two-story restaurant block, with a purpose - a building for public catering, consisting of a floor and a basement, with a built-up area of the restaurant block of 327 sq. m and a built-up area of 654 sq. m and a warm connection between the hotel and restaurant blocks with a built-up area of the warm connection of 65 sq. m.
An existing building on the property can be reconstructed and expanded to 10,374 sq m of gross floor area. The property has a transformer station and infrastructure, which allows for phased construction and reduction of initial investments.
Development parameters on the property and potential for construction:
Building borders area: 6916 sq.m.
Density of construction: 30% (up to 2,074.8 sq.m.)
Kint (intensity of construction): 1.5 (up to 10,374 sq.m. total build up area)
Minimum landscaping: 60% (up to 4,149.6 sq.m.)
Type of construction: "e" (freestanding buildings)
With a sales price for the area of at least 1,400 EUR/sq m and a total gross floor area of 10,374 sq m, the estimated value of the completed construction would be around 14,523,600 EUR. After deducting all investment costs, construction costs, infrastructure and others, the potential profit could be significant.
Investing in a property in Chaika Resort offers significant potential for returns and capital gains, thanks to the growing market, the attractive location and the opportunity to build high-quality residential or vacation properties. The existing infrastructure and the possibility of phased construction reduce initial investments and risks, making the project economically viable and attractive to investors.