For sale newly built holiday resort Vrnjačka Banja

Opportunity

Property Highlights: The resort comprises 7 villas, each housing 2 apartments, and an additional apartment building with 8 diverse apartments. Each villa apartment boasts a separate entrance and a dedicated parking space. The ground floor apartments span 61.97m² and feature an 8.08m² loggia overlooking the park. The larger first-floor apartments, measuring 67.73m², come with two loggias - a spacious 8.27m² one facing the park and a smaller 2.61m² one above the villa entrance. The apartment building houses 8 apartments of varying sizes, each with its own parking space. The exact dimensions of each apartment can be found in the floor plans/photos provided.

Resort Features: The resort occupies a plot area of 3,145m², with a built-up area of just 878.92m² (29.91%). The remaining area is dedicated to greenery/park (917.26m² or 31.21%) and a plateau featuring a playground and parking lots (1,142.27m² or 38.87%).

Construction and Compliance: The apartments are luxuriously built, adhering to all building permits and urban requirements. The construction of the resort was completed in June 2024.

Investment Details: Seize this opportunity to invest in a luxury resort in Serbia’s most popular spa destination. The current investor is seeking to sell the ENTIRE resort to another investor. The new owner could choose to manage and rent out the apartments or sell them to smaller investors while managing the resort and renting out the apartments on their behalf (rental pool).

Location Advantage: Vrnjačka Banja is the most visited destination spa in Serbia. In February 2024 alone, it attracted 26.47% of all spa tourists in Serbia. With ongoing investments in new tourist attractions, Vrnjačka Banja is set to remain a highly sought-after all-year-round tourist destination for years to come.

Brief description of our offer: this is a brief description of our offer, a complete information we will provide on request.

Description

Property description

This property comprises two cadastral plots, totaling 3,145 m². The first plot (206m²) serves as a 4m wide access road from the public street to the resort. The resort is secured with an entrance gate, accessible only to guests with an electronic key, and is surrounded by an appropriately high fence.

The second plot (2,939m²) houses the residential buildings: seven two-story villas, each containing two apartments (14 units in total), and a standalone apartment building with 8 apartments. All structures comply with permitted floor height regulations and are set back from the regulation line, given the plot’s direct access to the public road. There are no underground floors.

Parking is ample, with nine spaces allocated for the apartment building, including one for individuals with special needs, and an additional 14 spaces (two per villa).

The resort and all buildings/apartments are fully equipped with necessary infrastructure (water, sewage, electricity, telephone), connected to the respective utility service providers.

Construction Details

The apartment building is constructed using a standard system, featuring masonry construction with horizontal and vertical cerclages made of reinforced concrete, lintels, and windowsills. The ground floor boasts a 12cm thick reinforced concrete floor slab, while the ceiling above is made with LMT construction (d=20cm). Facade walls are constructed from 25cm “Thermo” block, with internal load-bearing walls measuring 20cm. Partition walls are made from 12cm hollow clay block.

Each building is constructed as an independent unit, with a wooden roof structure made from first-category timber and a layer of stone wool thermal insulation. The roof is covered with tiles at a 30º slope. All facade walls are protected with 10-12 cm thermal insulation (demit-facade), in accordance with the energy efficiency study. The foundation is built on strip foundations at a minimum depth of 80 cm, as per the static calculation and geomechanical study.

Interior Details

The interior walls are made from 12cm partitioning hollow clay block. Masonry walls are plastered and painted with dispersive paint. The final floor covering is made of non-slip ceramic tiles, ceramic tiles, or Tarket parquet, depending on the room’s purpose. The interior carpentry is wooden with complete equipment. The stair railing is made from thin locksmith elements and painted with finishing paint. In addition to the eight residential units, the building also contains a space for communication cables and equipment and a room for maintaining building hygiene.

Apartment Layouts

Each villa and the apartment building feature a variety of apartment layouts, each designed to separate day-social and night-intimate activities. All apartments have a corridor leading to the living room (with dining area), kitchen, and toilet. The living room opens to a semi-loggia with a park view. Further from the corridor, there are two bedrooms (one double and one single) and a bathroom with a shower cabin, toilet, space for a washing machine, and a closet.

Villa Layouts

The villas are built in a row, each featuring two apartments with separate entrances. The ground floor apartment has a hallway, bathroom with toilet, single bedroom, living room with dining area and kitchenette, and a storage room under the stairs of the residential unit above. The living room leads to a porch directly connected to the park. The first-floor apartment has a similar layout, with the addition of a spacious loggia with a park view. Each apartment has a main entrance from the front, with two properly dimensioned parking spaces for passenger vehicles.

Location

Nestled in the serene outskirts of Vrnjačka Banja, the resort is enveloped by lush greenery. Access to the resort is facilitated by an asphalt road, leading to a 4m wide access path that connects all facilities to the public road. An automatic gate at the entrance ensures exclusive access to guests with an electronic key.

The property is oriented in a west-east direction. The eastern side features an internal road that merges with the public road. The terrain is flat, ensuring efficient stormwater drainage through proper leveling, water collection in green areas, absorption wells, and storm sewers.

The plot accommodates internal pedestrian and vehicle roads, along with 23 parking spaces. Each apartment is allocated one parking space, with an additional space reserved for individuals with special needs. The entire plot is enclosed by a suitable fence for added security.

The future owner has the flexibility to further customize the plot based on their requirements or the needs of future apartment users, such as installing children’s playgrounds, swimming pools, etc.

Morava Corridor

On December 22, 2024, the section of the E-761 highway named "Morava Corridor" from Kruševac to Trstenik to Vrnjačka Banja was opened. It is now possible to travel from Belgrade and other cities in Serbia to Vrnjačka Banja faster, more comfortably, and more safely. This is the most modern highway in Serbia, the first true digital highway as optical cables and digital equipment are being installed along its route, which will enable free wireless internet and the most modern traffic management system. The route from Belgrade to Vrnjačka Banja via the Morava Corridor will significantly shorten travel time.

• Travel time: The journey from Belgrade to Vrnjačka Banja now takes about an hour and a half. The highway is designed for speeds up to 130 kilometres per hour.
• Route: The journey begins on the E75 highway from Belgrade, then connects to the Morava Corridor (E761 highway) at Pojate, which leads to Vrnjačka Banja.
• Connectivity: The Morava Corridor connects with the main highways in Serbia, enabling faster and more efficient access to many cities and parts of the country.

With improved traffic connectivity, Vrnjačka Banja becomes an even more attractive tourist destination. The resort is located about 400 meters from the roundabout where the local road network in Vrnjačka Banja connects with the Morava Corridor. Traveling to or from the resort to places such as Belgrade, Niš, Kragujevac, Kraljevo, or Novi Sad is now much safer and more comfortable. The travel time from Belgrade to the resort is about 80 minutes.

Market

According to World UNWTO Tourism Barometer from January 2024, in 2023, Serbia was the first destination in the world in terms of the growth rate of income from foreign tourists compared to 2019, with a jump in income of +79% compared to 2019.

Data from the Republic Institute of Statistics reveals that Serbia welcomed a total of 4,192,797 tourists in 2023, marking an 8% increase from 2022. Foreign visitors increased by 20% compared to 2022, with over two million foreign tourists, primarily from Russia, Turkey, Germany, and China.

Data from the National Bank of Serbia indicates that 2023 saw a record income of €2.5 billion from foreign tourists, approximately 80% more than in 2019. The most frequented tourist destinations outside the major cities in 2023 were Vrnjačka Banja, Zlatibor, Sokobanja, and Kopaonik.

Vrnjačka Spa, located on the southern edge of Šumadija, is one of Serbia’s most attractive tourist destinations and the most visited spa. It is approximately 200 km from Belgrade, 50 km from Kruševac, and about 20 km from Kraljevo. The construction of the “Morava Corridor” motorway and the proximity of Morava airport, which is 20km away, enhance the accessibility of Vrnjačka Banja for millions of people traveling from Central, Northern, and Western Europe to Turkey, Greece, and North Macedonia.

Vrnjačka Spa offers a wide range of services that attract guests from Serbia and the region. Its thermal waters have been used for medicinal purposes for 1,700 years, since the time of Roman Emperor Constantine. In addition to the renowned Merkur Spa, other major tourist attractions of Vrnjačka Banja are Aqua Park Raj, the Panoramic Wheel, Lovefest, landscaped hiking trails, etc. Guests are served by numerous restaurants, hotels and apartments. An additional attraction is the 7km Gondola from the centre of Vrnjačka Banja to Mount Goč, which the municipality of Vrnjačka Banja is building with the family of tennis player Novak Đoković. A new tourist attraction "Paradise mountain Goč" will be built on Mount Goč, which includes the construction of docks on the lake, a large adventure park, an adrenaline park, the completion of sports fields that have already been started, as well as the construction of a summer stage and several viewpoints , which will all contribute to the improvement tourist potential of this mountain.

Investments in infrastructure, tourist facilities, and promotion in recent years have made Vrnjačka Spa a year-round attraction. These investments have improved the quality of services, increased the number of tourists, and elevated the reputation of the Spa as one of Serbia’s most desirable destinations. In the past few years, dozens of new high-category hotels with rich wellness and spa facilities, worth almost €200 million have been built. The offer is complemented by the ZOO garden, the Japanese garden, the Labyrinth Park, the adrenaline park, sports halls, football fields built according to FIFA standards, the Sculpture Park, the waterfall that is perfectly integrated into the natural environment of Crkveni Brdo, and above all, 60ha of landscaped park areas in the heart of Vrnjacka Banja.

The growth of the tourism industry in Vrnjačka Banja in 2022 was significantly higher than in 2021, partly due to the cancellation of COVID-19 measures. More importantly, in 2023, both domestic and foreign tourist arrivals and overnight stays continued to grow.

In recent years, the market prices of holiday homes in Vrnjačka Banja have been constantly increasing due to the rise in purchasing power and demand. Currently, the limited offer of new buildings in the center of Vrnjačka Banja is in the average range from €1,800 to €2,400 per square meter.

The prices in the high end residential and business complex Zepterme are offered in the range from €2.900 to €3.200pm².

The growth of apartment sales in Vrnjačka Banja has been constant and this trend will continue. In tourist places such as Vrnjačka Banja, Zlatibor or Kopaonik, buyers are mostly from outside who invest in their second or third property as a business, investment property that should bring them income from letting and from the increase in the price of the property itself. One of the business opportunity for this Resort is for the new owner to sell the apartments to retail buyers and subsequently to manage the apartments and the Resort for and on behalf of the owners (rental pool).

Video presentation

Further info

This offer for sale includes:

• Both cadastral parcels
• All buildings
• Prospective buyers will be able to visit and view the Resort at a previously agreed time
• The project documentation, prospective buyers will have the opportunity to access and review the entire suite of construction, technical, urban, and legal documentation prior to purchase (buyer’s due diligence) in a virtual Data Room
• All financial obligations, including taxes, land development contributions, infrastructure connection fees, and obligations to material suppliers and service providers, have been settled or will be cleared by the current owner before the sale
• There is a possibility to secure a loan for the purchase from commercial banks
• There is also potential for resort expansion by purchasing and constructing new facilities on neighboring plots
• The asking price-€1.950.000.

Contact us for further info

SWe serve as the exclusive advisors for the seller. Our fees are covered by the seller. We are here to provide any additional information and answer all your questions. All inquiries MUST be directed to the seller's advisor, details below.

For further information please contact us by email [email protected] or by mobile phone/Viber/WhatsApp/Telegram +381 63 377 960 ili +381 11 36 35 935 or by using contact form below.