The residential complex FuenteSol will be the first action that will give visibility to the renewal and evolution planned for one of the areas with greatest potential, and until a few years ago, the most forgotten in Almería. This is called to be a project that will make the difference.
Short summary
Located at Almeria’s northern gateway, which is one of the main entrances to the historic centre of the city, FuenteSol design has been adapted to the area’s orography, making the most of the unbeatable panoramic views of the city.
FuenteSol is another clear impulse done by Zertum regarding urban renewal and contributes to add value to society, as it is built in one of the less explored and with the greatest potential areas in Almería.
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Investment characteristics
| Start-up capital amount |
Closed |
Period
First quarter of 2021
Amount
703,000 €
| First investment period |
BEING PREPARED |
Period
4Q of 2023 – 1Q of 2024
Aamount
800,000 €
| Second investment period |
BEING PREPARED |
Key figures
| Development | |
| Property value | 5.56 million€ |
| Development cost | 4.97 million€ |
| Gross operating margin | 0.72 million€ |
| Gross margin on costs (%) | 15% |
| Financing | |
| Total equity interests | 2.15 million€ |
| Bank financing | 3.00 million€ |
| Loan-to-value ratio (LTV) | 55.26 million€ |
| Leasing stage | |
| Leasing incomes | 0.37 million€ |
| Leasing costs | 0.12 million€ |
| Net operating income (NOI) | 0.25 million€ |
| Gross profitability on costs | 4.96% |
Intended purposes and areas
Designed as a linear building with several floors, it has a main entrance from the public street leading to the two indoor entrance halls that communicate with the dwellings and the basement (where the parking area and storage rooms are located). Access to the building and the parking lot is straightaway from Calle Morato.
With 25 dwellings, entrance hall 1 has a semi-basement floor whose intended purpose is the location of a co-working area, gym and common multipurpose room. Entrance hall 2, with 14 dwellings, has a rooftop solarium and an infinity pool with panoramic views of the city.
FuenteSol has green areas, calisthenics areas and a playground, which complete the services and complementary uses proposed for this residential complex.
The complex will be BREEAM certified, which is a guarantee of sustainable and environmentally friendly construction.
| Units | Area | |
| Dwellings | 39 | 3,023 m² |
| Parking area | 42 | 889 m² |
| Storage room area | 24 | 240 m² |
| Other areas | 8 | 1,211 m² |
| Dwellings/ Nº bathrooms | Units |
| 1 bedroom/ no bathroom | 1 / 1 |
| 2 bedrooms / no bathrooms | 34 / 2 |
| 3 bedrooms / no bathrooms | 4 / 3 |
| Parking area and storage rooms | Units |
| Parking lots | 42 |
| Storage rooms | 24 |
| Other areas |
| Swimming pool |
| Co-working area |
| Solarium |
| Concierge |
| Gym |
| Common multipurpose area |
| Gardens |
| Calisthenics area |
Development status
Project
| Draft | Basic | Development |
Permit
| Not requested yet | Requested | Granted |
Tender process
| 0% | 50% | 100% |
Development
| 0% | 50% | 100% |
Works
| 0% | 50% | 100% |
Location
Located in one of the most active urban development areas over the last years in Almeria, it has excellent future prospects due to its privileged orography and road connections:
- 1.3 km from the city centre
- 2.5 km from the intermodal station
- 2.6 km from the N-340 road
- 4.7 km from the Hospital Torrecárdenas
- 4.9 km from Torrecárdenas shopping centre
- 5.2 km from the Juegos del Mediterráneo Stadium
- 8.9 km from the A-92 Motorway
- 13.3 km from the international airport
- 17 km from the PITA Technological Park
- 21.9 km from the Cabo de Gata Natural Park
- 35.8 km from the Hospital del Poniente
Photo gallery
FIRST INVESTMENT PERIOD
0.70 million€
paid-up from a total amount of 2.10 million€
Being prepared
Next investment period being prepared
1
Investor
Would you like to be notified?
+34 950 620 205
info@zertum.es
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