Belgrade 150 ha zoning & permissions in place

The project site is a 300 hectare greenfield asset with zoning and permissions in place. A 50% partner seeks an exit (representing 150 hectares), this is the scope of the transaction. The owner proposes the redistribution of project shares as follows (subject to further negotiation): Owner to hold 51%, and the new acquiring party taking 49% (negotiable) share of the total project (representing 150 hectares) for the total price of 31 Million Euro. The land title is clean and free from any liens. According to a regional CBRE Feasibility, the fair market value for the total 300 hectare site is 150 million Euro (50 Euro per meter squared). The extrapolated value of 150 hectares is 75 million Euro. Therefore the acquisition is discounted 41% from fair market value. Location: The site is located only 20 minutes drive west of Belgrade international airport, and 35 to 40 minutes to Belgrade city center. The land is backed by a protected forest, flat with good arable soil. Working Capital: The project requires fresh masterplanning, feasibility and market studies to comply with international due diligence requirements for follow-on development funding. The cost of this work is included in the acquisition price. Project: Approved is a mixed-use residential, hospitality, retail, leisure, entertainment, golf, wellness and equestrian scheme surrounding a dominating artificial lake in an open-air European destination theme.