Rambla240

Get to know the residential project that is already home to 90 families and whose 57 members are already receiving rents.

Short summary

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.

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Investment characteristics

Start-up capital amount

FINISHED

Period

1Q -3Q of 2019

Amount

3,972,995 €

First investment period

FINISHED

Period

2Q of 2022

Period

1,250,000 €

Second investment period

FINISHED

Period

4Q of 2022 – 1Q of 2023

Period

1.291.252 €

Third investment period

FINISHED

Period

4Q of 2023

Period

1.025.000 €

Key figures

Development
Property value	31.38 million€
Development cost	20.61 million€
Gross operating margin	11.20 million€
Gross margin on costs (%)	54.30 %

Financing
Total equity interests	7.54 million€
Bank financing	12.22 million€
Loan-to-value ratio (LTV)	36.65 %

Leasing stage
Leasing incomes	1.55 million€
Leasing costs	0.33 million€
Net operating income (NOI)	1.22 million€
Gross profitability on costs	6.37 %

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.

	Units	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 / N^o bathrooms	Units
1 bedroom / n^o bathroom	31 (3 subsidized housing) / 1
2 bedrooms / n^o bathrooms	52 (9 subsidized housing) / 2
3 bedrooms / n^o bathrooms	7 / 3

Commertial premises	Use
Premises 1	Supermarket
Premises 2	Gym

Parking area and storage rooms	Units
Parking lots	102
Storage rooms	53

Other areas

Swimming pool

Solarium

Concierge

Co-working

Green areas

Development status

Planning

First approval

In progress

Final approval

Project

Draft

Basic

Development

Permit

Not requested yet

Requested

Granted

Tender process

50%

100%

Development

50%

100%

Works

50%

100%

Location

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: