Grand Palace In Tbilisi For Sale

Business description

There is a grand building for sale in the center of the Capital city of Georgia - Tbilisi. The building is located in the business center on a very long and wide avenue. This house may be used for several purposes like a hotel, offices or for other commercial goals.
General information: full area of a land: 4 375. 00 sq/m; Property contains 4 buildings. First building area: 4317,59 sq.m. House contains five storey; Besides, there is a large basement under a house useful for a commerce. There is also an area to set up for a conference hall, a restaurant, shop in the first floor. One can build a pool in a yard or on the last floor. there is also a parking place about a palace.
The house has also very good potential to expansion. So, now this palace contains 110 rooms but the plan of a building gives us a possibility to build another place in the behind of an yard and to rise a holding capacity till about 200 rooms by growing up an amount of floors and apartments. The business atmosphere in Georgia and perspective: One must keep in mind that now there are not enough hotels in Tbilisi and the amount of tourists are rising up every year. As the ministry of economic of Georgia says the total all hotels in Georgia covers only 40% of all requests. So, if an investor upgrades this palace to 3-4 stars hotel it will be occupied by visitors without any problems. To our calculation if a price will be minimum $50 for a day and if hotel will be occupied 50% the income will be 5000$ a day.

The price for a palace: $4.400.000

To upgrade and renovate a house it will be cost:
1. works to clean it [destroy] till a black carcass - $100 sq/m.;
2. to build a house till a white carcass - 300$ sq/m. [it means partition walls, cement covering on a floor, water pipes, gas, electricity communications’ points but without wood parquet, paint, tile].
So, it’ll cost for an investor ~$1.726.400.

The prices for the works in Georgia work market are:
1. to laminate flooring board: $2.4 for sq/m;
2. to tile: $9.09-15.15 for sq/m;
3. to paint: $4.84-6.06 for sq/m;

Property information

Real Estate:

Real Property Included

Location:

In the business center of Tbilisi-city

Premises details:

Land area, : 4 375 sq.m.
Property #1: 4317,59 sq.m.
Basement storey: 752 sq.m.
Property #2: 376 sq.m.
Property #3: 300 sq.m.
Property #4: 50 sq.m.
Floor: 5
Price – (with in company $4.400.000.

Size in square feet:

4 375 sq/m

Business Operation

Expansion potential:

This palace has a very good potential for grand hotel. This palace is located in the best area in the prestigious district of Tbilisi-city.

Competition / Market:

After upgrade and full renovation this palace can become a grand hotel or business center.

Other information

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

The owner is ready to take payment during an year by three transfers. Owner bank also is ready to give investor credit for upgrade a house .

Related documents:

• 
• the map of a palace and a land

• 
• basement

• 
• 1rst floor

Business closed / Asset sale:

Yes