DUKLEY BEACH HOTEL
Dukley Hotel is a beachfront development located as part of the exclusive Dukley Gardens residential villas and apartments complex. The complex is developed by Stratex Group and is situated at the edge of Budva Bay, across the Old Town of Budva.
The project is envisaged as a luxury condo-hotel with units sold and leased back to a hotel operator to manage. The construction of three levels of the hotel building has been completed, with the first level immediately above the beach, occupied by an exclusive restaurant and bar, Dukley Beach Lounge, which opened in 2013. The restaurant will become part of the Dukley Hotel.
The potential investor is invited to co-invest into the development of 5* / 120 units Dukley Hotel as a JV Partner. The project cycle will consist of:
- Dukley Hotel development
- Sales of 60 condo-hotel units
- Dukley Hotel operations
PROPOSAL TO CO-INVESTOR
The co-investor will purchase shares of the project company currently valued at €12 million. That value is comprised of the development land, the capital invested into the project to date and business opportunity.
The investor will further contribute equity, proportionate to shares, required to complete the project. The project completion is estimated at €17.6 million of which €5.3 million (30%) will be financed through equity and €12.3 million (70%) through debt. The construction costs of developing the hotel are based on Stratex experience in delivering high-end developments in Montenegro.