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Regulated plot of land with investment project for sale in Sofia

This is a very large commercial property for sale consisting of regulated plot of land with investment project in Sofia. The parcel comprises total area of 4800 sq m. It is fully regulated having the fallowing characteristics: 40% density, 1.3 KINT, and 10 meters height. The property is situated in a very communicative area at the foot of Vitosha Mountain near the ring road and the student's town. Nearby there is a school, kindergarten, medical care. There is regular public transport: trolleys, busses and shuttles. The parcel is connected to water mains and electricity.

The property comes with developed investment project comprising several residential buildings with underground garages and common shares. The project has the fallowing characteristics: 30% density, 1 KINT, 40% green areas, and 10 meters height. The project consists of 7 residential buildings with total living area of 14317.37 sq m.

At the moment the parcel is empty without any buildings on it, it is totally flat with minimal slope. It has perfect rectangular shape with sizes: 140 meters and 34 meters. In proximity to the property there are electrical, water, and sewer systems


ID: 6244
Property Status:  Available
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District:  Sofia
Price Euro:  €3,850,000
Price GBP:  £3,347,190
Price USD:  $4,297,370
Category:  Investment Projects, Regulated land
Plot Size :  4,800m 2
Extras:  Electricity, Water
Location:  In the capital Sofia
Published:  Friday, September 9, 2011

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Designed as a gated community for middle-class buyers Herakovo Hills sets the task to offer a new way of life for the families of professionals who work in the Bulgarian capital Sofia but, at the same time, want to enjoy the peace and quiet of a life in the countryside. The project is conveniently located close to the recently renovated E-80 highway linking Sofia with the Serbian border. The project area has developed rapidly in recent years with many big box retailers, car dealerships and logistics facilities setting foot along the highway. This is expected to increase the number of jobs in the area and, consequently, drive up the demand for new housing. At 30-minute ride to Sofia City center and less than 10-minute drive to Sofia ring road, the project location allows an easy commute to almost any point in the Bulgarian capital. At the same time, it offers unspoiled rural atmosphere and breathtaking views towards two mountain chains: Vitosha to the south-east and Stara Planina to the north-east. Moreover, the project location lies on the path of the same fresh air current, which has turned the neighboring town of Bankya into one of Bulgaria's most famous rehabilitation centers. Herakovo Hills project will be developed on a land plot of 220,000 sq.m. and will comprise approximately 420 single family and semi-detached homes. The developer is also planning on building a kindergarten, several small parks and children's playgrounds, a commercial area, as well as numerous sports facilities, including a spa center and tennis courts. So far the developer has acquired 120,000 sq.m. of the 220,000 sq.m. earmarked for the project development at an average price of 23 Euros per sq.m. and has obtained zoning with the following parameters: Kint 1,2, density 60% and height 10 meters (3-story buildings). However, in order to leave enough open space the concept design envisages only 30% utilization of the allowed Kint. The projected sales price of the houses is between 130,000 and 150,000 Euros (at builder's finish), including the cost of the land plot. Seeking JV partner: The project developer is currently seeking JV partner, who is expected to acquire a 50% stake in the project company at a cost of between 2.5 and 3 million Euros. This money will be used in order to acquire the rest of the land plot (at an average price of 18-19 Euros per sq.m.) and start building the project infrastructure and a small number of model houses.  

Investment Project for residential complex





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