Fully funded... Equity Investors required for the refurbishment of an old building located a few minutes to Prague City centre.
The building consists of a basement level with natural light, 4 over-ground floors and attic space for conversion. In total there is approximately 900 m2 of saleable residential space across 12-15 apartments. There is a possibility for the extension of the existing structure at basement level and addition of a new building in the courtyard subject to planning permission. The existing building was built in the early 1900's and is in good condition. The building currently consists of a nightclub at basement and ground floor level (to be evicted) and three regulated rent tenants (to be vacated). The project would consist of converting the building into small compact studio and 1 bed apartments for sale to the local middle market.
There is a full acquisition and construction finance facility arranged with a local bank. We are seeking partial equity investors for this project with the balance of equity provided by Euro Ventures. The project is expected to take approximately 1.5 - 2 years to complete with a very attractive return on investment and will be fully managed by our sister office in Prague.
