Development Land in Kumbor, Montenegro

Property Description

Mimosa Park is located on the edge of the Boka Bay, 5 km east of Herceg Novi, just above the 24 ha Portonovi marina resort which is one of the largest 5* hotel and leisure developments on the Adriatic coast and is being created around a One a

nd Only hotel. Mimosa Park is a touristic development of 102 apartments set on 14,263 m² of land. The resort will be the first development of its size and type in the area offering a pedestrianised environment with underground parking, penthouses and duplexes with large roof terraces, 3 external swimming pools, one spa including internal swimming pool and an integrated restaurant. The apartments are open plan with large balconies. Its position on the side of a hill at the entrance to the Tivat Bay provides all apartments spectacular views of the Boka Bay including being able to watch all of the super yachts, liners and other boats heading to and from Porto Montenegro and Kotor. Mimosa Park is owned by British developers. It benefits from full planning and designs. It is expected that construction could commence within 4 months of purchase. Mimosa Park should be able to command a premium over other developments in the area. Still, all at significantly lower apartment prices than Portonovi only 300 meters away. Mimosa Park is located 50 mins drive from Tivat international airport and Dubrovnik international airport in Croatia. In the future a water taxi trip from Tivat airport to Portonovi is expected to take around 15 minutes. It is understood that it would be possible to convert the planning to a hotel and leisure development, either partly or fully, should that be of interest to a developer.