Office building in Ampelokipi

commercial building · 1,500 m² · 10 levels

Athens, Ampelokipi, Greece · Property code BI-GR-025

Offer to the investor

Property

Athens, Ampelokipi: commercial building, 1,500 m², 10 levels.

Status

Ready for investment. BRIDGES runs the full turnkey cycle: purchase, renovation, sale or letting, and management.

We are looking for

Investors for the €4,643,000 project: purchase, deal costs, works and permits. Take the whole project or join with a share from €100,000.

We offer

A finished product: we buy the building, create the apartments and sell them to our own clients seeking a Golden Visa. The investor receives a share of the sales profit.

BRIDGES does

The whole cycle ourselves: due diligence and purchase, design and permits, renovation, sale or letting to our own clients, upkeep, taxes and reports.

The investor receives

A share in the company that owns the property, distributions from income, access to documents and regular reports.

Calculation

Project profit of 26-30% a year; the step-by-step calculation is in the project plan below.

Project plan: 30 apartments for Golden Visa buyers

We convert the building from commercial to residential use and divide it into 30 apartments of 30 to 60+ m². An apartment in a converted building qualifies its buyer for a Greek Golden Visa from €250,000, while ordinary housing in Athens and Piraeus requires €800,000. The buyers are investors who need the visa: our clients and partners worldwide.

Investment

€4.64m

Project profit

€2.47-2.81m

Per year

26-30%

Term

2 years

A full turnkey cycle: we buy the building, obtain the permits, renovate and sell the apartments to our own clients. You fund the project and receive reports and money.

You can join with a share from €100,000

You can take the whole project or join with a share. Your share in the project company equals your share of the capital and profit is split the same way, so every investor earns the same percentage. Example: €100,000 is about 2.15% of the project and €51,000-61,000 of profit over 2 years on top of the returned capital.

The apartments

About 1,235 m² of the building's 1,500 m² becomes apartments; the rest is stairs, walls and corridors. Prices follow our Golden Visa sales: on average 40 m² for €250,000, and no apartment sells below €250,000.

What the project needs

Building purchase

€2,600,000

Transfer tax, notary, lawyers (5.5%)

€143,000

Works: 1,500 m² at €1,000

€1,500,000

Architect, change of use and permits

€150,000

Contingency (10% of works)

€150,000

Project company, insurance, taxes during works

€100,000

Total investment

€4,643,000

What the investor earns

How we count the annual rate: €4.64m invested comes back as €7.45m after 2 years, of which €2.81m is profit. €2.81m over 2 years is 30% of the amount invested per year. Base case: apartments at the prices in the table. Cautious case: every apartment at exactly €250,000, works 10% more expensive. Profit is before tax: in Greece the project company pays 22% on profit and 5% on dividends paid to the investor. Apartments in an older building sell without VAT. The calculation is preliminary: exact figures follow measurements, the architect's design and the tax review, and go into the investment memorandum.

Timeline: about 2 years from purchase to the last sale

1. Due diligence and purchase1-2 monthsLegal, engineering and tax review, the project company, the notary deal.
2. Salesright after purchaseAs soon as the building is registered to the project company, we start selling apartments off-plan to Golden Visa buyers. Most are sold by the time works finish.
3. Design and permits4-5 monthsThe architect divides the floors into apartments; we obtain the change to residential use and the works permit.
4. Works14-16 monthsBuilding services, partitions, kitchens, bathrooms, finishes, facade and common areas.
5. Paying the investoras units sellSale proceeds go to the project company account: first the investment is returned, then profit under the agreement.

Key facts

Type

Commercial building

Status

Open to investors

Area

1,500 m²

Price per m²

€1,733

Floors

7

Basement

404 m²

Built

1999

Condition

ready to use

Strategy

renovation, under management

About the property

A 1999 building in the Ampelokipi business district: two basements, a ground floor and seven floors of 112-149 m². The deal is a purchase of the owning company, not of the building directly.

Units and areas

Basements

2 of 202 m²

Ground floor

141 m²

1st-5th floors

141-149 m²

6th-7th floors

112 m² each

• Built in 1999
• Business district
• Share deal for the owning company

Investment terms

Purchase price

€2,600,000

Acquisition costs

about €143,000 (transfer tax, notary, lawyers, 5.5%)

Works budget

about €1,500,000 (€1,000 per m²)

Owner of the property

project company in Greece

Participation format

a share in the project company or a loan to it, per agreement

Management

BRIDGES: works, letting or sale, upkeep, taxes, reports

Investor distributions

from net income, on the agreement schedule

BRIDGES fee

management fee and a share of the result, fixed in the agreement

Exit

sale of the property or a share buyback

Documents

Property documents are shared after a short introduction and a confidentiality agreement.

• PDFProperty fact sheetPDF · key facts, termsRequest
• PDFInvestment memorandumPDF · full calculation, scenarios, deal structureRequest
• PDFLand registry extractPDF · title and encumbrancesRequest
• PDFFloor and apartment plansPDF · areas and layoutsRequest
• PDFTechnical reportPDF · condition of the building and servicesRequest
• PDFDraft investment agreementPDF · share, rights, distributions, exitRequest
• PDFDraft management agreementPDF · BRIDGES duties and feeRequest

How the deal works

We do not resell the property. It is bought by a project company set up by BRIDGES. We are responsible for negotiation, acquisition, works, letting or sale and reporting; the investor finances the purchase and receives their share of the income.

1. NegotiationBRIDGES agrees the price and purchase terms with the owner.
2. Due diligenceA lawyer checks title and encumbrances, an engineer checks the building. The investor receives the reports.
3. Project companyWe set up a separate company in Greece. The property will be registered to it, not to BRIDGES or third parties.
4. Investor agreementWe sign an investment agreement: share, rights, income distribution, exit.
5. Purchase at the notaryFunds go from the project company account to the seller through the bank; title is registered in the land registry.
6. Works and launchRenovation or completion on the agreed budget, then letting under our management or sale of the units.
7. Income and reportsIncome goes to the project company account; after expenses the investor receives distributions and a regular report.

How investor money is protected.

Separate company

The property belongs to the project company. It has no other debts and no other properties.

Money through the bank

The purchase is paid from the company account through the bank and the notary. No cash, no intermediaries.

Title in the registry

The company ownership is registered in the Greek land registry; the investor receives the extract.

Decisions together

Selling the property, new debt and major expenses only with the investor consent.

Which agreements are signed.

Non-disclosure agreement

Before the full property dossier is shared.

Investment agreement

Amount, share in the project company, rights, distributions and exit.

Articles and shareholders agreement

How the company makes decisions and what requires investor consent.

Purchase agreement

Acquisition of the property by the project company at the notary.

Management agreement

BRIDGES duties for letting and upkeep of the property and the fee for them.

The final structure of the agreements is agreed by both parties lawyers before signing.

What is checked before the deal

Title

Land registry extract, encumbrances, status of each unit.

Permits

Compliance with permit documents, remaining building rights, heritage restrictions.

Technical

Structure, services, roof and facade, works budget and timeline.

Market

Rental rates and sale prices by local transactions, demand from our clients.

Location

The Athens business district along Alexandras and Mesogeion avenues: bank and corporate offices, hospitals, the concert hall and shopping centres. Offices and apartments let to companies and their staff with almost no vacancy.