54 Townhouses

Keywords : Spain

PROJECT SUMMARY
 
• Current Mortgage Debt: €5.5M
• Pre-Agreed Debt-Free Price: €3.9M
• Transaction Fees: €315K
• Development Cost: €1.285M
54 townhouses, totalling 5835 m2
• Total Resale Value: €8.0M
3 bed, 3 bath townhouses averaging 108 m2
• Target sales price of €1,350 /m2
 
 
INVESTMENT HIGHLIGHTS
 
• Purchase 54 townhouses for €3.9M EUR, at a discount to the mortgage debt of €5.5M
• Great location close to some of the best golf courses in the Southern Costa Blanca
• Acquisition finance available at 60% LTV on purchase price from a major Spanish lender
• Extremely affordable units in comparison to expensive new build projects on the market
• Resale forecast based on conservative STIMA valuation – Idealista valuation is much higher
• Local resales and project management team in place to enable a hands-off investment
 
 
PROFITABILITY FORECAST
 
• 6-month timeframe to refurbish & 18-months to sell all units
• 45% cash-on-cash return if financed at 60% loan to purchase cost
• Annualised ROI of 30% and a project IRR forecast at 88%

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