Cetinje Old Royal Capital submitted bids today for the lease of the immovable property of the former “Obod”.
Immovable property, built on the cadastre parcel 1161/1, will be leased for a period of 30 years.
“Minimum monthly lease price of the property is €55.000, VAT included. The lease price is paid in two equal installments. The first installment should be paid by 30 June, and the second should be paid by 31 December. To meet the requirements of the lease, bidder needs to have a business plan/investment program showing minimum 10% of the annual net income earmarked for the Old Royal Capital”.
In the business plan, bidder shall also set out the investment plan of minimum €10 million for a period of 2,5 years, adaptation and/or reconstruction of the existing immovable property and its equipment, as well as creation of at least 100 new jobs in two and a half years from the day the Contract is concluded.
“Tender participant must have annual business profit of at least €30 million for the last three years and is required to submit bank guarantee for positive performance, in the amount of 3% of the projected investment in favor of the Old Royal Capital”.
Bidders are required to submit proof of deposit payment, in the amount of €100.000.
Physical persons and legal entities and consortiums are entitled to take part in the bids. Bids are submitted to the Civil bureau of Cetinje, between 8 am and 2 pm, every day, until 2 December 2019.
