Sold Out! A newly refurbished building of 23 high quality designer apartments in the Old Zizkov area of Prague 3, immediately adjacent to Prague City Centre and to Vinohrady (traditional upper-class neighbourhood). The area is famous for its picturesque hilly streets, small squares, and endless trendy pubs. The building is situated close to Riegrovy Sady Park and the wonderful Art Nouveau streets of Vinohrady, and at the same time within a 15 minute walk to the Old Town and the City Centre.

Development Summary

• Residential development of high quality designer apartments
• Located in developing residential area close to upmarket residential area and city centre
• Neighbourhood built in the 19th century and part of the Prague UNESCO preservation area
• Several new upmarket developments (apartments and houses) in the area
• Excellent public transport (15 min walk, 5 min by tram to city centre)
• Excellent capital appreciation potential (close proximity to city centre and Vinohrady)
• Appeals to both the local rental and re-sale market
• Italian Developer operating in Prague since early 1990’s
• Building to be re-constructed using high quality Italian materials and designs

Deal Summary

• “Hands off” investment (legal, mortgage, furniture, kitchens, rentals, etc.)
• 5 year lease back @ 5% yield
• Mortgages arranged locally at 70-80% loan to value
• Kitchen, Furniture and VAT included in price
• Studios from €51,500 / £34,620
• 1 Beds from €71,200 / £47,900
• Italian developer - high standard construction and fit out
• Off plan investment - to complete Q4 2007
• Low 15% deposit, balance on completion
• No local capital gains tax if held for 5 years !