Bank Selling Ljubljana Land for Residential Development

By , 17 Feb 2018, 09:57 AM Business
Bank Selling Ljubljana Land for Residential Development

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Plots in Rožna Dolina and Podutik for 7m and 6.6m euros. 

STA, February 17, 2018 – The Bank Assets Management Company (BAMC) has published a call for binding bids for two plots in Ljubljana. A complex of plots in Rožna Dolina has a price tag of EUR 7m without tax, and a plot at a disused quarry in Podutik EUR 6.6m. Bids will be collected until the end of March.

The complex in the upscale borough of Rožna Dolina consists of 30 plots of mostly developed land spanning over almost 17,000 square metres. Slovenia's bad bank will accept bids for them with a EUR 200,000 deposit until noon on 30 March.

The same deadline has been set for the plot in the suburban Podutik borough, which covers around 44,500 square metres. A deposit of EUR 180,000 will have to be made.

The BAMC told the STA that detailed zoning plan still had to be adopted for both plots, while the number of flats offered as part of the developments will be up to the investor.

Both plots have a fairly high number of flats allowed, with the conceptual design for the plot in Podutik envisaging more than 400 apartments.

Moreover, the BAMC is trying to sell another plot in Podutik in a joint-venture scheme, under which the bad bank provides the land and the investor the required capital. After selling the property, the profits will be divided among the partners.

In phase one, the BAMC plans 80 apartments to be built in the joint venture, while more than 300 flats would be put to the market as part of all three phases.

The joint-venture scheme could also be used for the plots in Rožna Dolina and Podutik if none of the bids meet the BAMC's wishes.

"The BAMC's priority is selling off assets at the highest possible value. If bids for the plots fail to meet our expectations, we will study the options for joint ventures," it told the STA.

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