The houses have 4 bedrooms distributed over two floors, a large private garden and in the basement, it has a garage. The average price per home is € 340,000. At a commercial level, the developer has 9 of the 12 reserved homes (the developer has signed a reservation contract with the buyers that will be formalized when the site is purchased).
The project is located on Calle San Pedro del Mar, in the Monte neighbourhood (Santander). The development is located just 1.5km from La Maruca Beach and less than 10 minutes from the centre of Santander (3km to the Valdecilla train station). The Menéndez Pelayo International University and the University of Cantabria are less than 3 km from the promotion
The promoter of this opportunity, GRUPO TECNIOBRAS , is a company that has been leading more than 30 real estate projects in the Cantabrian community for more than 18 years, consolidating itself as one of the companies referring to the residential construction sector in Cantabria. Within their work areas they are distinguished:
Construction: both industrial / logistics and interior design and residential work.
Development: since 2003 the Group has entered the real estate development field, where it already has more than 30 projects completed and delivered, in addition to the 15 it is currently developing.
The project has a capital gains strategy, which consists of an alliance with the developer for the acquisition of a plot of land in Monte, Santander, where the 12 homes will be developed. The contributions of Urbanitae investors will be delivered to the promoter via capital increase to the vehicle company that develops the project: CHELSEA DESARROLLOS INMOBILIARIOS, SL
The promoter intends to formalize a private sale contract prior to the Public Deed.
GRUPO TECNIOBRAS applied for the building license in September 2020 , and following the deadlines set by the City Council, it expects to obtain its authorization in the fourth quarter of 2021. The works will begin immediately after the signing of the mortgage-developer loan and obtaining the license of works.
Regarding the commercialization, the developer has signed a reserve contract with the future owners in 9 of the 12 units .
The operation will be structured through a capital increase , where both the promoter and Urbanitae investors will make a capital contribution to the company vehicle of the operation. Said contribution will be used for the acquisition of the site. The operation plans to resort to bank financing for the development of the work (promoter mortgage loan).
The developer will be dedicated to the integral management of the development , construction, and commercialization. He will also be an investor in the project, contributing c.17% of the total investment capital.
There are several reasons to invest in this project:
Investment opportunity in a new construction development project .
The promotion has 9 out of 12 reserved units.
The total net return estimated by the developer is around 24% in 24-26 months.
The project will be promoted by GRUPO TECNIOBRAS , a leading developer in the residential sector on the Cantabrian coast.
The project promoter invests its own capital , which aligns the interests of all the agents involved in the investment.
The promoter expects to generate a total income of 4,090.00 euros with the sale of the promotion, which would mean a net profit for the Urbanitae investor estimated (after expenses and taxes) of around 24% in an approximate period of 24- 26 months .
A capital distribution has been agreed with the Promoter that encourages it to optimize the return on invested capital . The capital contributed by both Urbanitae investors (c.83% of the capital) and by the developer (c.17% of the capital) will be remunerated at 12% per year, net of corporation tax . The additional capital gains generated by the project on said profitability will be distributed with the promoter under a capital structure that can be consulted within the documentation " Economic Summary" .
A market study has been carried out to determine if the sales prices raised by the developer are reasonable. The promoter accredits experience in the development of promotions with similar characteristics in the environment. The promotion has 75% of the reserved promotion .
There is information available on the market within the documentation, "Sales witnesses", where you will find a list of homes for sale in the area.
WHEN WILL I RECOVER THE MONEY INVESTED?
The estimated term of this project is 24-26 months .
Fourth quarter 2021, start of the works.
Third quarter 2023, end of construction. First occupation license and delivery of the homes.
Fourth quarter 2023, liquidation of the company and distribution of profits to investors.
It is important to bear in mind that in any real estate development the terms can vary both upwards and downwards .
All investments carry risk. We detail the clearest risks we have identified for this project:
Refusal of the owner to sell the land despite the agreement with the developer.
Increase in the deadlines foreseen in the project, due to delays in obtaining the license.
Diversion of fixed costs associated with investment , unforeseen in construction.
Risk of the bank's refusal to grant the promoter mortgage loan .
€ 376 / m 2
€ 370 / m 2
€ 5 / m 2
€ 1,485 / m 2
€ 1,033 / m 2
€ 452 / m 2
Urbanitae Commission (s / VAT)
€ 25 / m 2
€ 1,887 / m 2
€ 81 / m 2
Urbanitae investors contribution
€ 395 / m 2
Bank financing + clients
€ 1,410 / m 2
€ 2,051 / m 2
Sale of 12 homes
€ 2,167 / m 2
Marketing and Advertising
€ 57 / m 2
Corporate Tax Forecast
€ 58 / m 2
€ 164 / m 2
Urbanitae Investors Profit (initial distribution - 12%)
€ 95 / m 2
Promoter Profit (initial distribution - 12%)
€ 19 / m 2
€ 49 / m 2
The promoter of this opportunity, GRUPO TECNIOBRAS , is a company that has been leading more than 30 real estate projects in northern Spain for more than 18 years, consolidating itself as one of the companies referring to the residential construction sector in Cantabria