Purpose if the loan
Land plot development, address Seinų st. 13, Panevėžys, plot area 0.2139ha, i/d No. 2701-0021-0174, intended use - Territories of multi-apartment residential buildings and dormitories. The loan will be repaid by selling the property under development or refinancing at another financial institution.
The plot is in attractive location and a little further from the main Nemunas street in Panevezis town, Lithuania. Land plot is clean, without already demolished ground structures. Within a short distance from the territory - shops, kindergartens, schools, companies engaged in commercial activities. There are excellent connections to the city center, medical facilities, the A2 and A9 motorways.
Technical parameters of the designed building
• 4-storey residential apartment building with parking spaces (reconstruction)
• Designed 28 apartments, 33 parking spaces
• Plot area - 0.2139ha
• Building density of the plot - 44.29%
• Plot construction intensity - 134.78%. The total area is 2882.90 m2
Estimated project cost
Construction price 869 EUR / sq.m. m. The total area is 2889 sq.m., the area for sale would be 1889.29 sq / m, the administrative area is 186.56 sq / m, the plinth / basement area is 590.16 sq/m.
Useful area vs total: 92.27 percent.
Planned income
The planned sale prices of apartments are 1115 EUR / sq.m. without VAT, with VAT 1350 EUR / sq.m. The total income from the sale of apartments is EUR 2 106 513 excluding VAT, EUR 2 548 881.64 EUR including VAT.
The planned income of administrative premises is 205,216 EUR without VAT, with VAT 248,311 EUR.
The planned income of parking places is 177,422 EUR without VAT, with VAT 214,680 EUR.
Planned basement / plinth income 413 112 EUR without VAT, with VAT 499 865 EUR.
Planned profitability
The planned profit is EUR 424,625
Planned project total profitability 18.36%