Centrally located, with an attractive design and a wide range of areas and services, Rambla240 is the most exclusive residential complex for leasing in Almeria.
It will allow the tenants to enjoy city life every day as well as recreational areas designed for welfare (such as the swimming pool, solarium and sport facilities).
Rambla 240 is a clear example of Zertum commitment to urban transformation and renewal. Situated in an area where there were several facilities that are behind the times and no longer used and that do not correspond to the natural development of the city.
|Start-up capital amount||
1Q -3Q of 2019
|First investment period||
2Q of 2022
|Second investment period||
Fourth quarter of 2022
First quarter of 2023
Project capital gain
Cumulative return on equity (ROE):
|Property value||31.34 million€|
|Development cost||19.92 million€|
|Gross operating margin||11.41 million€|
|Gross margin on costs (%)||57.30 %|
|Total equity interests||7.47 million€|
|Bank financing||12.22 million€|
|Loan-to-value ratio (LTV)||42.20 %|
|Leasing incomes||1.48 million€|
|Leasing costs||0.29 million€|
|Net operating income (NOI)||1.18 million€|
|Gross profitability on costs||6.39 %|
Intended purposes and areas
This residential complex has three independent entrance halls - entrance hall 1 and entrance hall 2 (with 56 and 34 dwellings, respectively) -, which are intended for long-term leasing and have direct and exclusive access to the common areas (basement, swimming pool and recreational areas).
Entrance hall 3 has 12 dwellings intended for sale under the regime of government subsidized housing.
The complex has a commercial area located on the ground floor to be used as a supermarket and a second area located on the first floor intended for sport activities.
Both areas have an independent basement floor to be used as parking service by customers and users. On the other side, the second basement floor is intended to be used by residents only as parking area and storage rooms.
BREEAM certificate guarantees a sustainable and environmentally friendly construction.
Finally, the construction of the complex involves the development of all the streets nearby, as well as the creation of a new public square in the neighborhood, offering citizens a new leisure area.
|Dwellings||102 (12 subsidized housing)||7,673 m²|
|Parking area||102||3,118 m²|
|Storage room area||46||212 m²|
|Other areas||10||10,808 m²|
|Dwellings / No bathrooms||Units|
|1 bedroom / no bathroom||31 (3 subsidized housing) / 1|
|2 bedrooms / no bathrooms||52 (9 subsidized housing) / 2|
|3 bedrooms / no bathrooms||7 / 3|
|Parking area and storage rooms||Units|
|First approval||In progress||Final approval|
|Not requested yet||Requested||Granted|
This residential complex is located at the intersection of Avenida Federico García Lorca and Calle Granada, two of the main Almeria’s historical streets. Nearby, numerous shops, leisure facilities and restaurants, as well as schools, medical centres and public agencies organisms’ offices can be found:
- 2 km from San Miguel beach
- 200 m from the city centre
- 1.7 km from the intermodal station
- 1.6 km from shopping centres
- 2.8 km from Hospital Universitario Torrecárdenas
- 13.3 km from the international airport
SECOND INVESTMENT PERIOD
paid-up from a total amount of 7.47 million€