Objective of the loan
The amount of €291,000 is required for the financing, which is being raised in stages. The borrower's activity is the purchase, market adaptation/development and sale of residential and commercial real estate. The loan will be used for the finishing and fitting out of the real estate owned by the company, namely two non-residential premises - a workshop located in a building at Savanorių av. 3, Kaunas, Lithuania, which are mortgaged against this loan. The loan will be repaid by refinancing with another financial institution or from the proceeds of the company's activities and the sale of real estate. The amount to be contributed by the project owner itself to the project is EUR 157 000.
About the property
The property consists of two non-residential premises - workshops, located in the building at Savanorių av. 3, Kaunas: (a) part of workshop Savanorių av. 3 - 16, Kaunas with a fixed order of use, unique No. 4400-5902-7568:8637, total area of 69.95 sq. m. (part of the area 40,57 sq. m.); and (b) the whole of the premises Savanorių av. 3 - 17, Kaunas, unique No. 4400-5902-7579:8638, total area of 91.85 sq. m.
The building in which the property is located was constructed in 1940 and has a floor area of 91.85 sq, 2021-2022, reconstructed in 2021-2022, the premises were formed by subdivision, the completion rate is 100 %. Utilities are fully installed: communal water supply, sewage, individual central heating system, natural gas. The premises are functionally designed, without living rooms, for creative, administrative or other ancillary activities.
The premises are newly reconstructed, partially furnished, with modern construction solutions, which allows the buyer or user to easily adapt them to individual needs. This condition increases flexibility of use and market attractiveness.
Considering: the central location, the use of the premises (other ancillary), the areas and layout, the level of infrastructure, the best and economically viable use of the mortgaged property is: workshops, office or administrative premises, service activities (studios, salons, training), residential premises or an investment property for rent.
The property has a high level of attractiveness due to its central location, new reconstruction, versatile use and limited supply in this part of Kaunas. The liquidity is considered by the valuers to be high, as this type of property in the New Town area is in constant demand both among end-users and investors.
The mortgaged property is a functional, attractive and marketable property with a clear best use scenario, high liquidity and a wide range of potential buyers. The characteristics of the property allow it to be considered as a credible collateral that meets the expectations of the market and financial institutions.
For more information on the property (see Documents).