Hotel Development Land in Ljuta, Montenegro

Property Description

An Opportunity to acquire 10,624 square meters of land zoned for hotel / tourism facilities with a possibility to build up to 8,400 square meters of properties plus additional basement spaces. Location - Ljuta, Kotor (Montenegro).   30

meters from the sea  Nearest airport less than 30 minutes away Topography of the site allows for unobstructed sea views from all building areas and units The Development Land qualifies for various Government incentives initiated for the development of 4* & 5* hotels, such as 40% reduction on construction taxes. Possibility to sell hotel units if Mixed use hotel is built, generally reducing that cash flow required and bringing forward the return on capital employed. Hotel on this location would generally achieve an ADR (rooms) in the region of €200 and occupancy starting from 35% increasing to 45% once the hotel stabilizes. Total investment requirement (including land) would range between €15m to €20m depending on the quality of a proposed building. There is a possibility to secure debt for up to 50% of the Required investment for this type of development, through our partners and different institutions in Montenegro