Holiday Destination: Livade Resort, Business And Residence Centre

Executive Summary
A mixed use property development project Livade will be located in Izola, a lovely town on the Slovenian coast. The development includes the construction of a sea-side resort, a business and residence centre and the Water Park, health resort hotel, hotel and apartment buildings. The development of the complex can be carried out in several phases and the construction of the Water Park with its outdoor and indoor pools and a lake has been given priority.  Two 4-star hotels and some 200 holiday apartments with infrastructure will follow shortly to complete the complex at the end of 2012.

Current Status
Water Park: project documentation completed, construction permit issued
Health resort hotel, hotel, apartment buildings: outline scheme
Construction schedule: 2009-2012

Investment Opportunity
The resort, business and residence centre Livade will have many facets and will cater to various clients. Thanks to mild winters and indoor wellness and spa facilities, the Livade Resport will operate year-round and the existing accommodation capacities will be exploited much better. The construction of the resort and the accompanying capacities will create new jobs and the calculations show that to invest in and operate Livade will be successful and profitable.

1. Water Park
The Water Park consists of the central buildings AQ1 and AQ2 and it is a thermal bathing facility with indoor and outdoor swimming pools and a lake.

The building AQ1 is round with a maximum diameter of 75 m and it consists of the basement, the elevated ground level and the first floor. The basement has 3,767 m2 with the engine rooms, warehouses, workshops, wellness centre, sanitation and various businesses (two inns, offices and a shop with non-food items). The ground floor of 4,285 m2 will comprise business spaces for the administration and functioning of the centre (reception, hairdresser, cosmetics shop, electronic games, tobacconist/newsstand, green grocer, restaurant, pizzeria ), engine rooms, warehouses and communications facilities, while the swimming pool will be of  548 m2, whereas recreational facilities along the pool will stretch on 1,010 m2. In summer months the Water Park will be able to receive 2,400 guests; in the winter months its capacity will be some 750 people. On the intermediary floor, a part of the elevated ground floor of 4,024 m2 features two facilities that are a part of the centre functioning (a coffee shop and an ice cream parlor), plus a thermal swimming pool of 184 m2. A promenade leads through this floor by which the external guests may watch what is happening in the swimming pools complex. The first floor, which extends over 420 m2 will have a sauna, special bath facilities, a massage centre, solarium, a pool and work-out areas along the pool. The outdoor pools and the lake extend over an area of 2,700 m2, with 746 m2 of islands and 11,173 m2 of beaches and the areas for recreation along the pool. 

The building AQ2 will comprise 1,224 m2 with locker-rooms, toilets and a restaurant.

2. Health resort hotel
Four-star hotel on 8,000 m2 will have 250 beds, restaurants, business areas, a health resort and a garage with 100 parking places.

3. Hotel
Four-star hotel on 12,000 m2 will have 400 beds, restaurants, business areas and a garage with 200 parking places.

4. Apartment buildings
It is possible to build 200 apartment buildings with the floor area of 50m2 per apartment in the immediate vicinity of the water park.

Budget / Total Cost 

The estimated investment value (in €):
1. Water Park EUR 30 million
2. Health resort hotel EUR 20 million
3. Hotel EUR 32 million
4. Apartment buildings EUR 24 million
Total: EUR 106 million

Project Funding / Support
The developer is seeking an investor for the whole investment project or for a specific part of the project (Water Park, health resort hotel, hotel, holiday apartments).

Project Advantages
The fact that the Slovenian coast is short and extremely attractive maximizes returns on investment not easily found elsewhere. Izola (Island) was named after a small island on which fishermen’s dwelling still stand even though the island is now part of the mainland. The location of the mixed-use development in the immediate vicinity of a modern marina and a small bay with a popular beach means that it will not take much property marketing to sell the apartments and retail/office space and keep the hotels full.