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One Palmovka Residence, Prague 8 With over 277 flats to choose from; ranging in size from 28 sq. meters to 145 sq. meters, this is an ideal place for both Czech professionals and young families who want easy access to the centre without all of the hustle and bustle of a city centre.
Drawing inspiration from successful mixed-use developments around Europe, #one combines chic retail spaces, leisure facilities, and designer restaurants with airy light-filled spaces, a large glass atrium and two central landscaped gardens around which the residence is built. The inspiration continues on to the individual units which are open-plan design with all conveniences and oversized windows to make the most of the sunny, green spaces.
A unique feature of #one is the clever use of two separate entrances on either side of the project. One entrance allows residents to enter their home via a treelined avenue, 24-hour reception area and central garden whilst the other greets retail shoppers with a large pavilion style glass entrance, broad side walks and numerous cafes. A great deal of planning has gone in to ensuring that the vibrant dynamic retail environment is equally balanced with the tranquility needed in an urban living space.
INVESTMENT OVERVIEW (recommended buy-to-let product):
● A maximum of 25% of the units (70) will be sold for buy-to-let purposes (avoids rental saturation)
● Units starting from 1.7m CZK (cca 61k EUR / 43k GBP).
● Leverage (LTV) of 90% for non-resident purchasers.
● Equity requirements as little as 170k CZK (cca 6k EUR / 4k GBP).
● Bridging loans available for exchange deposits (ie. no cash down).
● Expected growth of 15 - 20% in prices over build cycle.
● Gross rental yields of 5.2 - 7.4% depending on unit size.
● Interest-only mortgages available 2007.
Location #ONE is Prague's answer to urban cosmopolitan living. Situated in one of the city's most up-coming city neighbourhoods #ONE blends residential living with retail convenience to create a unique lifestyle concept.
Construction Schedule Due for completion in Q2 2008.
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