For sale plot in residential area
|
Ability to build in
|
50% |
|
Floor area ratio
|
0.5 |
|
Gross floor area
|
652 |
|
View
|
not provided |
|
Electricity
|
yes |
|
Water
|
yes |
|
Gas
|
in the street |
|
Canal
|
yes |
|
Ability to build in
|
50% |
|
Floor area ratio
|
0.5 |
|
Gross floor area
|
652 |
|
View
|
not provided |
|
Electricity
|
yes |
|
Water
|
yes |
|
Gas
|
in the street |
|
Canal
|
yes |
Description
Unique Buda Location with Outstanding Residential Development Potential
A 650 sqm residential building comprising 6 premium apartments can be developed on the site, located in one of Budapest’s most sought-after green residential districts, at 10 Fogaskerekű Street in District XII, in the immediate vicinity of János Hospital. This represents an ideal development project targeting the high-end Buda residential market.
The property is situated on the border of a protected natural area, in a quiet and prestigious residential environment characterized by low-density development and excellent accessibility. The plot currently includes a well-maintained office building with a gross floor area of 500 sqm; however, it can be demolished to unlock the full development potential of the site. Demolition can be undertaken by the owner, FGK Asset Management Ltd., upon request.
The planned sale will take place through an invitation-only private auction, ensuring a controlled and professional transaction process. At the same time, in the case of a compelling offer, there is also the possibility to acquire the property immediately outside the auction process.
Additional project implementation option:
The owner is also open to contributing the property—subject to selecting a suitable partner—into a newly established project company jointly created with the partner. In this structure, the partner’s responsibilities are limited to the execution of the development project (design, permitting, construction, and securing the financing required for the development). The absence of an upfront land acquisition significantly reduces the capital requirement of the project and thereby lowers the overall investment risk.
The completed residential units will be commercialized jointly by the parties, ensuring alignment of interests and maximizing the value of the development.
Average prices for similar listings in the area
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