Shopping mall in the historical centre of Bucharest

DESCRIPTION

The Location

The project is situated in sector 1 in the heart of Bucharest. This site is in the district of the Senate, within 150 meters from the University Square and close to the Royal Palace which is a museum of contemporary art.

Due to the history of this district, numerous famous buildings are situated in the proximity of the project. We can mention, for example, the Hilton Hotel which is one of the most luxurious buildings in the capital. In this district there is also Calea Victoriei, which is one of the commercial streets of Bucharest with many luxury brands such as Hugo Boss, Versace, etc.

The Project

Situated close to the University Square, the Shopping Mall shall become the first luxury mall in this exclusive sector of the capital city.

The Shopping Mall will present itself in the form of a building with a hybrid architecture, a mix of the historical shapes found in this district and the modern style specific to the capital city nowadays. The building will have 5 floors, with an area of 10,000 sqm divided into commercial spaces and flats.

The objective is to develop a unique luxury mall in the capital city. The Shopping Mall will include a limited number of shops, but solely international renown brands. All the facilities specific to a luxury mall will be present: stylish interior design, fashion shops, beauty centers, bars and restaurants.

The Area and Authorizations

This project is situated is a urban area allowing the development of a commercial building. That is the reason why we decided to erect a 5 floor building.

Please contact us to receive the business plan and financial simulations.

The project has been approved by the municipality of Bucharest and the data presented below is in line with the certificate of urbanism.

o The total area of land is 1,353 sqm
o Number of floors: 3 Basements + Ground Floor + 5 Floors
o 3 basements of garages, ground floor + 4 floors of shops and 1 floor of offices
o Total area that can be built over the ground: 7,560 sqm (ground floor + 5 floors)
o Total area that can be rented: 5,292 sqm (total area that can be built over the ground - 30% for the common spaces: 7,560 - 2,268)
o Strategy: Construction and rent
o Total area that can be built (over and under the ground): 7,560 sqm
o Price for land: EUR 6.75 million (1,353 sqm x EUR 5,000 per sqm)
o Approximate construction cost: EUR 16.74 million (11,160 sqm x 1,500 € per sqm)
o Additional various costs: EUR 3.63 million
o Approximate cost of the project: EUR 27.12 million
o Maximum period of carrying out the project: 2 years
o Minimum area that can be rented: 5,292 sqm
o Approximate price for the rent in the respective district: EUR 80 per sqm
o Annual profit from rent: EUR 5.08 million (5,292 sqm x 80 € per sqm monthly x 12)
o Total rent expenses: EUR 2.35 million
o Approximate total investment: EUR 29.47 million
o Annual rental return of 17.24% per year

The Offer

The land owner is seeking a partner who would wish to invest with us and benefit from the attractive perspectives that the Romanian real estate market offers. From our experience on the market of Bucharest, we think that a commercial project in this area can only be for an excellent and save investment.

Concerning the methods of partnership, we propose to our partner to bring 50% of the equities in return of which we undertake all the stages from the design to the marketing of the project. Upon the finalization of the operation, the profits will be shared between our partner and ourselves.

The Partnership

1- We already own the land and the authorizations
2- Our partner brings 50% of the equities (EURO 14.02 million)
3- Our architects finalise the project (approximately 6 months)
4- We form a company with our partner
5- We bring our know-how and develop the project
6- We take care of the marketing and the rent of the shops
7- The profit is shared between our partner and ourselves

Taking into account the size of this project, we are looking for a single partner who would like to take part with us in the development of this project.

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