MIXED-USE DEVELOPMENT ON
STRATEGIC LOCATION IN SOFIA
FEASIBILITY STUDY/HIGHEST AND BEST USE ANALYSIS – 1,000,000 SQM
Our Client had invested significant resources and efforts in the assembly and development of around 30 hectares of development land in suburban location in Sofia. The land plots have excellent exposure to the national motorway system, visibility and accessibility and at build-out could provide close to 1,000,000 sqm of floor area above ground. All ingress/egress points are provided as well as the main power and water supply. Development had started with a retail project. The Client turned to us to quantify and determine the most profitable concept for the future development.
The Client received a comprehensive report encompassing all permissible and reasonable development options for the subject properties. Our rigorous financial analysis outlined two of them as having the strongest development potential under current market conditions. Due to the fact that the two were mutually exclusive in terms of development requirements we recommended the final choice to be made depending on the risk-return criteria of the Client. Meanwhile the report clearly demonstrated that there were several options under consideration that were not worth the effort further investigating or developing without a strong concept that would create a market of its own.
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