For sale newly built holiday resort Vrnjačka Banja

Opportunity

Sale of a unique newly built luxury apartment complex and closed tourist resort in the wider centre of Vrnjačka Banja (Vrnjacka Spa). The resort consists of 7 villas with 2 apartments each and an apartment building with 8 apartments.

In villas, each apartment has a separate entrance and one parking space in front of the villa. On the ground floor of each villa has an apartment of 61,97m² with a loggia of 8,08m² facing the park. On the first floor is a larger of 67,73m² with 2 loggias, a larger loggia of 8,27m² facing the park and a smaller one of 2,61m² above the entrance to the villa.

The apartment building has 8 apartments of various sizes. The exact dimensions of each apartment are shown on the floor plans/photos above. Each apartment has its own parking space.

The built-up part of the plot is only 878,92m² or 29,91%. The rest of the plot is occupied by greenery/park of 917,26m² or 31,21% and plateau, playground and parking lots totalling 1.142,27m² or 38,87%.

The apartments are luxuriously built. Everything was done in accordance with the building permit and other urban requirements. The construction of the resort is completed by mid-May 2024 and the current investor wants to sell the ENTIRE resort to another investor who would rent out and manage the apartments or sell to smaller investors and manage the resort and rent out the apartments for their account and on their behalf (rental pool).

Vrnjačka spa is the most visited destination spa in Serbia. According to information from the Republic Institute of Statistics, in February 2024, ALL Serbian spas were visited by 37.949 tourists, out of which 10.048 or 26,47% visited Vrnjačka Spa. Due to large investments in new tourist attractions, Vrnjačka spa will continue to be a highly sought-after all year round tourist destination for years to come.

Description

The building plot consists of 2 cadastral plots with a total area of 3,145 m2. The first cadastral plot of 206m2 is a 4m wide access road from the public area/street to the resort itself. There is a gate at the entrance so that only guests with an electronic key can access the resort. The resort is surrounded by a fence of the appropriate height.

Residential buildings were built on the second cadastral plot of 2.939m2. There are 7 villas on ground and 1st floor with two apartments each (14 residential units in total) and one detached apartment building, GF+2 with 8 apartments. All buildings were designed and built within the permitted floor height. There are no underground floors. All buildings are far from the regulation line, considering that the building plot has its own exit to the public area/public road.

There are 9 parking spaces for the apartment building plus one parking space for people with special needs. There are 14 additional parking spaces, 2 in front of each villa.

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

Apartment building construction

• The construction of the apartment building is a standard construction system with a basic construction system of masonry construction with horizontal and vertical cerclages made of reinforced concrete, lintels and windowsills, vertical and horizontal ring beam.
• A 12cm thick reinforced concrete floor slab was installed on the ground floor. The ceiling above the ground floor is made with LMT construction d=20cm. (16+4). The facade walls are made of "Thermo" block with a thickness of 25cm, while the internal load-bearing walls are d=20 cm. The partition walls are made of partitioning hollow clay block d=12cm.
• Each of the buildings was built with expansion, that is, as an independent building unit.
• The wooden roof structure is made of quality first-category timber with a layer of thermal insulation made of stone wool at the level of the rafters and under the rafters in accordance with the requirements of energy efficiency.
• The roof covering is tiles with a slope of 30º.
• All facade walls are protected with thermal insulation (demit-facade) with a thickness of 10-12 cm in accordance with the energy efficiency study.
• • The foundation is on strip foundations at a depth of min 80 cm according to the static calculation in accordance with the geomechanical study.

Internal processing

The internal walls are made of partitioning hollow clay block d=12cm. Masonry walls are plastered and painted with dispersive paint. The ceiling of the ground floor is 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 purpose of the room. The interior carpentry is wooden with complete equipment. The stair railing is made of thin locksmith elements and painted with finishing paint. In addition to 8 residential units, it also contains a space for communication cables and equipment and a room for maintaining the hygiene of the building.

GROUND FLOOR: Entrance area and windbreak area with pest mailboxes and two residential units.

FIRST FLOOR AND ATTIC: Three residential units each (a total of 6 apartments), two of which are two-bedroom units, and one is one-bedroom.

Ground floor apartments

APARTMENT 1

The apartment is to the right of the entrance to the building as seen from the south park side of the complex. The apartment has functionally properly arranged rooms in terms of daytime and nighttime stay, so that day-social and nighttime-intimate activities in the apartment are separated.

Within the apartment, according to the modern needs of a comfortable urban life, there is a corridor from which communication is directed to the living room (living room with dining room), kitchen, toilet. From the living room, there is an exit to the semi-loggia, from which there is a view on the park area. Further from the corridor towards a more intimate, quieter part of the apartment, 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.

APARTMENT 2

The apartment is to the left of the entrance to the apartment building on the south side of the resort. The apartment has functionally properly arranged rooms in terms of daytime and nighttime stay, so that day-social and nighttime-intimate activities in the apartment are unhindered.

Within the apartment, according to the modern needs of a comfortable urban life, there is a corridor from which communication is directed to the living room (living room with dining room), kitchen, toilet. From the living room, there is an exit to the semi-loggia, from which there is a view on the park area. Further from the corridor towards a more intimate, quieter part of the apartment, 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.

First floor and the attic

APARTMENTS 3 (on the first floor) and 6 (attic)

The apartment is to the left of the common double staircase. The apartment has functionally properly arranged rooms in terms of day and night stay. Within the apartment, according to the modern needs of a comfortable urban life, there is a corridor from which communication is directed to the living room (living room with dining room), kitchen, toilet. From the living room, there is an exit to the semi-loggia, from which there is a view of the monumentality of the park within the complex. Further from the corridor to the more intimate, quieter part of the apartment, there are two bedrooms (one double and one single) and a bathroom with a shower cabin, a toilet, a place for a washing machine and a closet.

APARTMENTS 4 (on the first floor) and 7 (attic)

The entrance to the apartment is straight from the shared two-legged staircase. As part of the apartment, studio apartment, according to the modern needs of a comfortable urban life, there is a corridor from which communication is directed to the living room area (living room with dining room), kitchen, toilet. From the living room, there is an exit to the semi-loggia, from which there is a view of the monumentality of the park within the complex. Further from the corridor to the more intimate, quieter part of the apartment, there are two bedrooms (one double and one single) and a bathroom with a shower cabin, a toilet, a place for a washing machine and a closet.

APARTMENTS 5 (on the first floor) and 8 (attic)

The apartment is to the right of the common double staircase. The apartment, two and a half bedrooms, has functionally properly arranged rooms in terms of daytime and nighttime stay, so that day-social and nighttime-intimate activities in the apartment are unhindered. Within the apartment, according to the modern needs of a comfortable urban life, there is a corridor from which communication is directed to the living room (living room with dining room), kitchen, toilet. From the living room, there is an exit to the semi-loggia, from which there is a view of the monumentality of the park within the complex. Further from the corridor to the more intimate, quieter part of the apartment, there are two bedrooms (one double and one single) and a bathroom with a shower cabin, a toilet, a place for a washing machine and a closet.

The Villas

The villas are built in a row with the following layout:

• Each villa has 2 apartments with separate entrances.
• On the ground floor is apartment number 1. It has a hallway, a bathroom with a toilet, a single bedroom, a living room with a dining room and a kitchenette, a storage room under the stairs of the residential unit 2. The living room leads to a porch that is directly connected to the park.
• Apartment 2 is on the first floor. The staircase from the main entrance leads to the hallway. It has a hallway, a bathroom with a toilet, a single room, a double bedroom, a living room with a dining room and a kitchenette, a storage room under the stairs of residential unit 2. The single room leads to the loggia, which looks towards the main access to the building - the internal road. The living room leads to a spacious loggia with a view to the park.
• Each apartment has a main entrance from the front - the side of the internal access road where, properly dimensioned, there are two parking spaces for passenger vehicles.
• On the other side of the building on the ground floor there is a porch that is directly connected to the park, and on the first floor of the building there is an exit to a spacious loggia with a view of the park.

Location

The resort is in the quite the wider centre of Vrnjačka Banja surrounded by greenery. An asphalt road leads to the location. Access to all facilities from the public road is provided by a 4m wide access road. An automatic gate was installed at the entrance so that only guests with an electronic key can access the Resort.

The plot is oriented in the west-east direction. On the eastern side, there is an internal road that connects with the public road. The terrain is flat. Drainage of all storm water was solved by proper levelling and collection of water in green areas, absorbing wells and storm sewers.

Within the building plot, there are internal pedestrian and vehicle roads as well as 23 parking spaces, 1 parking space for each apartment and one additional parking space for people with special needs. A suitable fence has been erected around the entire plot.

The future owner will be able to arrange the plot/grounds further according to his needs and/or the needs of the future users of the apartment (children's playgrounds, swimming pools, etc.).

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.

According to the data of the Republic Institute of Statistics, a total of 4.192.797 tourists visited Serbia in 2023, which is 8% more than in 2022. There were 20% more foreign visitors compared to 2022 and for the first time there were more two million foreign tourists, mostly from Russia, Turkey, Germany and China.

According to preliminary data from the National Bank of Serbia, in 2023, a record income from foreign tourists was achieved in the amount of €2.5 billion, which is about 80% more than in 2019. The most visited tourist destinations outside the big cities in 2023 were Vrnjačka banja, Zlatibor, Sokobanja and Kopaonik.

Vrnjačka Spa is one of the most attractive tourist destinations in Serbia and the most visited spa in Serbia. Vrnjačka Spa is located on the southern edge of Šumadija, and it is about 200 km from Belgrade, 50 km from Kruševac and about 20 km from Kraljevo. The construction of the "Morava Corridor" motorway opens the possibility of increasing the number of arrivals of foreign guests, as it makes Vrnjačka Banja more accessible for tens of millions of people traveling from Central, Northern and Western Europe to Turkey, Greece, North Macedonia. The Morava airport, which is 20km away also contributes to this.

Vrnjačka spa is one of the leading tourist destinations in Serbia. As a spa and tourist destination, it 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 Roman Emperor Constantine. In addition to the well-known 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.

Thanks to investments in infrastructure, tourist facilities and promotion in recent years, Vrnjačka Spa attracts visitors throughout the year. These investments have contributed to improving the quality of services provided by Vrnjačka Spa, increasing the number of tourists and raising the reputation of the Spa as one of the most desirable destinations in Serbia. Due to its accommodation facilities, four- and five-star hotels and a congress centre, Vrnjačka Banja is increasingly the choice of high-paying guests, as well as the host of numerous business events. 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 completed 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 Banja.

From the table below, the growth of the tourism industry in Vrnjačka Banja in 2022 was significantly higher than in 2021, which was partly the result of the cancellation of the COVID 19 measures. More importantly, in 2023 tourist arrivals and overnight stays of both domestic and foreign tourists continued to grow.

In recent years, with the increase in purchasing power and demand the market prices of the holiday homes in Vrnjacka Banja is constantly increasing. Currently, the limited offer of new buildings in the centre of Vrnjačka banja is in the average range from the €1.800 to 2,400 pm2. The table below shows the prices of apartments in Vrnjačka Banja in 2022 and 2023.

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

The table below shows activities on the real estate market of Vrnjačka Banja in the period 2019-2022.

The growth of apartment sales in Vrnjačka Banja has been constant in the past 4 years 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

Apartment resort Vrnjacka Banja

Spa destination Vrnjacka Banja

Further info

The offer for sale includes:

• Both cadastral parcels
• All buildings
• The project documentation as listed below

Selective buyers will have the opportunity to gain access to and have insight into the entire construction, technical, urban and legal documentation before purchasing. We have listed some but not all of the documents below:

1. Urban project
2. Building permit
3. Location conditions
4. Architecture project
5. Construction project
6. Technical control reports
7. Elaboration of geotechnical foundation conditions
8. Elaborate on fire protection
9. Archive of photographs of the construction of the Resort, which extends back 12 months
10. Contracts with infrastructure service providers and proof of payments
11. Web site for the sale of apartments
12. Other relevant documentation

• All financial obligations such as taxes and land development contributions, fees for infrastructure connections, obligations to material suppliers and service providers have been settled or will be paid by the current owner before the sale.
• Selective customers will be able to visit and view the Resort at a previously agreed time. All inquiries MUST be directed to the seller's advisor, details below.
• Selective buyers will be provided with all relevant documentation for their own analysis (buyer’s due diligence) in the virtual Data Room prior to purchase.
• There is a possibility of raising a loan the purchase from commercial banks.
• There is a possibility of expanding the resort by purchasing and building new facilities on neighbouring plots.
• Price-€2.500.000.

Contact us for further info

SEECAP is the sole and exclusive advisor to the seller. Our fees are paid by the seller. Contact us for any additional information, as our task is to answer all your questions. 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.