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Agrokor is selling Villa Castello

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Having initiated the sale procedure for movable assets, the motorized yacht Riva 85 Opera, “Jana” and the helicopter, the extraordinary administration of Agrokor started the selling procedure for immovable, non-core, assets with Villa Castello.

Since 1999, Agrokor owned the estate of Villa Castello located in Medveja, Lovran municipality, near Opatija, which is up for sale. The estate includes two separate buildings, Villa Castello as the main building which includes a beach front and a pathway along the sea, and a separate building, an auxiliary house, which is used as a guest house or staff lodgings.

Among several competing agencies, Croatia Sotheby's International Realty®, a specialised agency for real estate brokerage and consulting, member of a renounced world-wide franchise of the Sotheby’s International Realty® brand. Sotheby’s International Realty® is a world leader in sale of luxury real estate, with the brand present across 65 countries and with 860 offices world-wide, achieving sales value of 95 billion US dollars in 2016 alone.

The estate spreads over 10,062 square meters of land with 969 square meters of housing space, out of which the net area of Villa Castello is 851 square meters, which includes the basement, the ground floor and three additional floor, and the auxiliary house’s net area, comprising the ground floor and the first floor, is 118 square meters.

The main building located by the sea was constructed in 1916 in architectonic style of neoclassicism. The building consists of basement, ground floor, first and second floor, and a viewpoint in the tower on the third floor. The villa consists of total of five bedrooms on the first and second floor, while the bottom part includes five rooms for the staff. The lowest floor, the basement, has two entrances, one from the beach, while the other is connected to the path to the open summer kitchen with the barbeque grill and the wine cellar. The ground floor is accessed by a pedestrian approach between two buildings and contains a kitchen and three salons. The first floor is predominantly residential, connected to the entrance with a staircase and hallway and an open space connecting two floors. The floor contains four rooms, each with bathroom en suite. A suite comprising a bedroom, living room and a bathroom, is located on the second floor. The bedroom has a lower ceiling which rises to its full height in the living room. The viewpoint is located on the third floor.

The auxiliary building comprises of two suits with en suite bathrooms and a common living room.

The estate is equipped with an improvised helipad located in a development area for hospitality and tourism (T2) in 2c zone – the tourist complex within the existing dimensions.

The asking price is 7 million EUR. The amount does not include VAT, and the tax treatment will be ascertained depending on buyer’s tax status. The procedure of sale is subject to the conditions defined by the extraordinary procedure, entails the option of viewing of the estate, informing on the legal conditions of the possible sale, collections of offers and checking whether the valid offers qualify, with the criteria of highest offered price offered. The buyers are expected to guarantee that their offer is serious, and the sale and purchase contract will be drafted by the seller.

All potential buyers wanting to view the estate will have to sign a standard non-disclosure agreement and will need to pay a viewing fee which is standard with the sale of real property of such value. The viewing will be possible as of 21 August 2017.

Interested buyers should send their offers for Villa Castello to the official agent for brokerage of the real estate in question, Croatia Sotheby's International Realty® agency, by an e-mail to info@sothebysrealty.hr or through the Internet website sothebysrealty.hr by 21 September 2017.  

The extraordinary administration of Agrokor retains the right no to enter into a sale and purchase contract after all the offers are received and analysed. The focus of the extraordinary administration in the process of the sale of this real estate as well as in the case of sale of other Agrokor’s assets will be maintaining a transparent and an open procedure, and achieving maximum value.