Type: Commercial Property For Sale District: Bar Location: Sutomore Address: Bar, Crna Gora Price: €1.575.000
Description: This exceptional business building is now available for sale in the heart of Sutomore, ideally positioned at the intersection of the busiest streets leading to the sea, making it the prime location for shopping. Officially registered as business premises, the building boasts a title deed area of 483 square meters. However, the actual area is 100 square meters larger, and this additional space can be easily registered through a mini-project and utility payment, a process estimated to cost no more than 20,000 euros. This upgrade complies with the Development Urban Plan (DUP) for the property, ensuring smooth registration.
The property is currently leased to the premier and largest trading company in Montenegro, "FRANCA," under a 10-year contract. With two years of the lease already completed, eight years remain. The lease terms are structured such that for the first five years, the rent is 2,420 euros per month including VAT, contingent upon "FRANCA" investing 250,000 euros in the building's renovation and returning it in its adapted condition upon lease termination, which has been fulfilled. For the subsequent five years, the monthly rent increases to 4,840 euros including VAT....
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