Description

Bar, Sutomore – Seafront investment project on prime location for sale or JV

Location

This construction land with the existing old hotel is located on the first line in the Bar Riviera on the coast of Montenegro. The site previously was a hotel complex Zlatna Obala, which is considered one of the best places to stay in Yugoslavia.

The site is located in a relict forest on the beach. The length of the coastline belonging to the project is 980 m.

Access to the site is carried out directly along the main transport artery of the Montenegrin coast - the Adriatic highway (Jadranski put)

The site is located below the highway, by the sea. Geographically, the site is located in the centre of the Montenegrin coast, near the place where the Bar Riviera is bordered by the Budva Riviera.

Nearby is the peninsula Ratac, which is under the protection of UNESCO as an object of world cultural heritage.

The distance to the airport of Tivat - 53 km, to the airport of Podgorica - 35 km.

 Plot parameters

• The total land area is 37,696 m².

Features of the location and terrain of the site are such that almost all buildings have a full or partial view of the sea.

Existing buildings and facilities

On the plot, there is an existing old hotel complex. After the collapse of Yugoslavia, the complex for a number of years has not been used, after which it was bought by the owner of the project, in order to create a residential village of a premium class with its own beach consisting of villas, apartments and a hotel.

• total (gross) area of all existing residential and tourist facilities is 10,344 m²,


• net area of apartments - 9,200 m².

On the plot, there are 51 villas (49 two-storey villas and 2 three-storey), as well as several administrative and auxiliary buildings. The area of the villas varies from 135 to 345m².

Infrastructure and communications

On the plot there is a municipal water supply - two entry points to the territory of the complex - from Sutomore and Bar. The plot is connected to the city sewer. A transformer station is installed on the plot, there is a backup diesel generator. The complex has a telephone line, internet. There is convenient access to the complex from the side of the road, large open parking in front of the administrative complex and an underground parking area of over 2000m². There is also a separate entrance to the territory, asphalt road comes to the middle of the site. The territory is fully illuminated (lantern lighting and lighting), 3 mountain rivers pass through the territory, there are reserve tanks filled with river water, which is used for watering plants in the complex. Throughout the complex are equipped with rainwater reservoirs.

Project concept

On the basis of the land plot and the existing buildings of the existing hotel complex, a closed tourist-residential complex of the premium class.

The total (gross) area of all residential and tourist facilities under the project is 17,834 m² (including 10,344 residential and 7,500 hotel). The owner of the project received a permit for an additional on 12,000 m², of which no more than 60% are living quarters, and not less than 40% is a tourist (an increase in the hotel area).

Cumulatively, taking into account the newly approved urban parameters, the project area will be increased in area:

• residential units (villas and apartments): 17,544m²


• hotel complex (4 star hotel category, tourist villas): 12,300 m².

According to the project, the reconstruction of existing buildings is planned in order to turn them into 51 comfortable villas with a high level of finishing with a total usable (net) area of 9,200 m².

Exterior decoration of the villas is planned in the style of "modern" with elements of traditional Mediterranean design. The villas are divided into apartments ranging from 40m² to 174m², a total of 154 apartments.

The project envisages the creation of a premium class infrastructure and a management company.

To see other investment properties on the coast, click here;

To see more properties in the Bar area click here.