Sale, hospitality venue, 1450m², Igalo, Herceg Novi

IDD 3719
A centrally located hotel property near the beach and promenade, suitable both for leisure stays and for organizing conferences, seminars, and business events.

The hotel offers 130 accommodation units, including double rooms, triple rooms, four-bed rooms, and apartments, with a total capacity of 357 beds. Accommodation is divided into two categories:

Superior rooms and apartments
Standard rooms and apartments

The property is situated approximately 100 meters from the beach.

The hotel consists of a basement, ground floor, and twelve upper floors. The total registered hotel area is 5,242 m², while the gross construction area including terraces is 6,928 m². The land plot area is 1,295 m², with a total urban plot area of 1,689 m².

Urban-technical conditions have been obtained for the reconstruction and upgrade of the property into a 4-star hotel. The full reconstruction option includes renovation and upgrading of the upper floors, as well as reducing the number of accommodation units per floor in order to meet 4-star categorization standards.

An alternative option involves partial renovation works, including:

Replacement of installations and bathroom facilities
Replacement of worn carpentry and furniture
Renovation of the hotel façade

The investment level depends on the selected reconstruction model and investor preferences. The hotel is currently operational and can continue operating in its present condition during the investment process.

Key urban and development parameters:
Base area: 1,450 m²
Maximum occupancy index: 0.87
Maximum gross construction area: 8,000 m²
Maximum construction index: 4.75
Maximum permitted floors: basement + ground floor + 12 floors
Planned accommodation units: 108
Planned bed capacity: 216

The location is fully equipped with utilities and infrastructure. Construction and reconstruction activities must comply with the applicable urban-technical conditions and soil characteristic requirements.

The estimated market value for completed developments in this type of location is approximately €2,500–€3,000 per m².