Development land for sale in Sofia

Plot of land for sale with project for construction of a hotel. The plot has an area of 500 sq.m. and is located near Todor Alexandrov blvd.

The site is located on Otetz Paissi str, one-half block north to Todor Alexandrov blvd. (land survey number VI-17 in quarter 184 of the plan of Sofia, Central West destination area). Located in a thriving and growing commercial corridor, the plot is a short walk to the Parliament, a half block from the subway station, 2 blocks from the Mall of Sofia, around the corner from Lukoil office building, and within the city centre as defined by the April 2004 Sofia Municipality Master Plan. The neighbourhood is mixed-use and is currently undergoing a significant transformation, with several new office and residential projects underway on the block alone, and dozen within a 5 block radius.

Investors have a unique opportunity to acquire the project for a distinctive and highly differentiated 4-star boutique business hotel in the heart of downtown Sofia, a market highly favorable to hotel investment. The project is currently at the early stages of construction. The site has clean title and ownership by a single entity.

The current design of the hotel is a first-to-market boutique business hotel with 36 guest rooms, restaurant, bar, lounge, conference centre and library, roof top deck, 2 outdoor gardens, and underground parking. The plot size is 500sq.m. with total build-out area is 2,800sq.m. The allowable building parameters yield 1,800sq.m. above grade on six floors and one attic/terrace level, plus two-500sq.m.basement levels for parking, conferencing, kitchen, and other support functions.

Currently project design, construction permitting, site demolition, utility relocations, excavation, and exterior foundation wall construction are complete. At this point in the construction, with minimal modifications to the project, the purposed design and functional features can be adapted or alter to suit potential operators, flags, and other investor considerations and prerogatives.

The price of the plot exclude VAT.