Ultimate Portfolio

8/8/2019 Ultimate Portfolio

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Ultimbase

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Let: Sveti Stean.

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on the

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Large-Sc

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Yielding

TOTAL

MONTENEGRO


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4

Bay Tree Estate 1l

Blue Horizon 2l

Budva Hillside 3l

Buljarica Bay 4l

Castle Land 5l

Kotor Bay Tree 6l

Kotor Woodland 6l

Lustica Bay View 7l

Mirac Village 8l

Oak Village 9l

Oceans Edge 10l

Rezevici Coast 10l

Villa Adria 10l

Ponte Village 11l

The Ree 12l

Olive Mill Estate 7 n

The Lustica Estate 7 n

Olive Grove Cottage 13n

Ponte Villa 14n

The School House 15n

Villa Petrovac 16n

Sunset House 17n

Sunset Cottage 17n

Fountain Square 18s

Milk House 18s

River House 18s

Stari Grad Apartments 18s

The Orangery 19s

Industrial Land 20s

Commercial Land 20s

Belvedere Estate 21 l

Vineyard Estate 22 l

Belvedere Cottage 21n

Orchard House 21n

Church House 21n

Hamlet Cottage 22n

Hilltop 22n

Meadow Cottage 22n

White Cottage 22n

The Lodge 22n

Church Valley 23n

Pond House 24n

The Guard House 24n

Valley Cottage 25n

Valley House 25n

The Retreat 26n

Vine House 27n

Vista Lodge 27n

Belvedere Meadows 21;

Church Woods 21;

Orchard Meadows 21;

Hamlet House 22;

Ljuboutin Woods 22;

Hal Woods 22;

Hamlet Meadows 22;

Hamlet Brook 22;

Lodge Meadows 22;

Hunting Land 22;

White Woods 22;

Pond Meadow 24;

Riverside Meadows 25;

Fig Tree Farm 28;

Coastal Rural Mountains

Koslasin Mountain Village 29 l

Koslasin Peaks 30 l

Koslasin Ski Apartments 30 l

Zablijak Ski Apartments 31 l

Zablijak Mountain Village 31 l

Moraca Valley 33n

Loven Mountain Retreat 34n

Koslasin Retreat 30;

Koslasin 360 30;

Koslasin Hillside 30;

The Canyon 32;

Lovcen Mountain Meadow 34;

Lovcen Mountain Village 35;

Lake

Skadar Estate 36l

Lakeside Cottage 37n

Lakeside House 37n

With a Total Land Area o (TLA) o 2.8 million m2,

the Ultimate Montenegro Portolio oers access

to a diversifed investment pipeline o liestyle

development opportunities, primarily residential

and/or reehold-tourism property. The assets are

located throughout Montenegro rom the prime

Adriatic Coastal areas via the rural Lake Skadarregion to the ski resorts in the northern mountains.

Investment Strategy

Ultimate Montenegros primary ocus has been

to acquire, consolidate/package and re-zone land

assets into scalable project pipelines or uture

real estate development.

The fve key phases o the Land Value enhancement

process are identifed as ollows:

Acquisition o Raw Land

(legal due diligence and ownership status).

Re-Zone or Development.

Master Plan Approval.

Detailed Building Permit.

Fund Exit.

Dierent assets are at dierent stages o the zoning

process, so the growth and development strategy o

the business allows or a variety o acquisition/exit

modes and structures to be considered and valued

accordingly.

Asset Locations

Key to Symbols

l Projects

n Restoration Projects

; Land Bank

s Yielding Assets

Airports

Bosnia-Herzegovina

Croatia

Adriatic Sea

M

P

TIVAT KOTOR

RISAN

DUBROVNIK

GRUDA

HERCEG

NOVI

BUDVA

23

9

5

820

183

19

26

6

14

7

15 11 1

2

12

13


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Zoned D

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600,000

Area (GD

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within the

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opportun

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next 12 m

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assets are

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destinatio

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The Virtu

Since the

2002 and

Serbia in

pursued i

1. EU me

(SAA s

2. Tourism

luxury

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A virtuous

by a sign

inrastruc

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Touris

Stable

stance

(S&P

Wh

Virtuous Circle

MONTENEGRO

Let: Budva Old Town.

EU ACCESSION FUNDS

INFRASTRUCTUREUPGRADES &

DEVELOPMENT

STABLE DEMOCRACY

SUSTAINABLE ABOVE-

AVERAGE GROWTH(with Euro currency

and low taxes)


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Co


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12

Viewso the coastline o Montenegro.

CoThe Coas

diverse n

locations

Riviera ro

and beyo

The Port

ull advan

Developm

actively p

the devel

(in assoc

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Oak VillageA signicant standalone restaurant will be developed

in the largest o the village ruins. It is envisaged that

the local community will become integrated with

this regeneration process, providing resh vegetable

produce, traditional home-made cheeses, smoked

hams, wines and the local grappa.

Design & Construction

The nature o the sloping site will result in a

development which sits naturally within the

landscape, giving the overall appearance o

a traditional Mediterranean hillside village.

Together with the use o traditional materials

and characteristic architectural language, the

rural authenticity and heritage o the development

area will be maintained.

Project Description

Oak Village is one o the largest and most dramatic

development projects on the coast o Montenegro.

Set high on the terraced slopes o a mountainous

valley overlooking the Adriatic Coast, the Oak Village

development site is a naturally ramed amphitheatre.

The natural topography is such that every part

o the site provides exceptionally beautiul views

towards the open sea, the amous Jaz beach and

surrounding Lovcen mountains.

The design o the site is inspired by the presence

o a unique rural Montenegrin stone village (Zecevo

Selo) perched high on the valley slopes. This

picturesque authentic village will be restored to

create a retail hub or the development, with a

concentration o cas, bars and shops.

Total Land Area 213,540 m

Gross Development Area 92,307 m

Urban Status Development Zone:

Tourism / Residential

Development Concept Luxury Villa & Apartment

mix with spa/club

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Site Plan

Bijela

Kotor

Budva

Tivat

Lustica

Rose

Radovii

Lastva

Herceg Novi

BAYOFKOTOR

ADRIATICSEA

E80

E80

E80

E80

E65

E65

E65

E65

Oak Village

A signicant percentage o the terrain is agricultural

terrace supported with stone dry walls. Much o

the construction will be concentrated in these

areas. The gradient o the slopes is between 16-35

degrees, but mostly below 20 degrees. The slope

o the terrain allows or three storey buildings, with

open views to all. The residential development will

take the orm o village clusters around communal

pools and terraces.

Infrastruc

The site is

coast via t

however 2

proper un

local acce

with the ex

Electric an

The site is

hub which


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Oceans Edge - RezeviciDevelopment Concepts

A luxury apartment complex oering 44 apartments

and one villa with a communal gym, three pools

and a pool bar.

Project Location

Oceans Edge, Rezevici is one o the most desirable

locations in Montenegro. Sitting proudly on the

Budva Riviera, 2km rom Petrovac, Oceans Edge

has outstanding views out across the Adriatic and

the coast o Montenegro.

Tivat Airport is only 25 km rom Rezevici and the

lively town o Budva is 15 mins drive.

This exceptional site, perched on a cli edge with

dramatic coastal views, sits on gently slopping

open grassland and provides the ideal location

or an exclusive apartment development.

Project Description

The planning concept is to create a luxury

apartment complex and one two storey villa.

The site is situated immediately off the main coastal

highway and is perfectly orientated towards the

South-West, providing sun, spectacular sea views

and dramatic sunsets.



(Including underground parking)

86% density

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Site Plan

i

Kotor

Budva

Tivat

LusticaRadovii

Lastva

r i

BAYOFKOTOR

ADRIATICSEA

E80

E80

E

E

E65

E

E65

E65

Oceans Edge

Rezevici


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Ru


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Viewso the MontenegrinCountryside.

20

The coas

is one o

Lush valle

olive grov

recurrent

This area

minute dr

Ru


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Church ValleyChurch Valley is a rural location in Glavati although

only a 10 minute drive to the Adriatic coast and its

beaches. It sits in the middle o existing armland

with old stone houses and indigenous fora. This

property is so called as it is in the unique position

o being surrounded by ve churches.

The ruin site is easily accessible rom Budva and

Tivat airport and is a 5 minute drive rom Jaz beach

which has played host to international concerts.

The area is a traditional arming community and

the village is designated as a p rotected zone by

the heritage department o Kotor Municipality.

Site Description

The site is rectangular and gently slopes towards

the North-West. On the upper part o the site there

are three ruins. One is the main building with an

ancillary building adjacent to it. The ground foor,

external stone walls, and staircase o the main

building have been preserved. The ancillary building

is the best preserved with original Mediterranean

roo tiles and the ootprint o the third building has

also been preserved; this was previously the arm

building. The original village guvno still remains onthe site. This is a stone built circular structure used

or threshing grains and also was the meeting point

or the village.

The lower part o the site is almost a fat meadow

surrounded with trees and shrubs. The intention

is to preserve as much as possible o existing

site layout.

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Artistsimpression o the ChurchValley development.

Site Plan

Artists Impression

Plot Size 1894 m

Existing Building Footprint 167 m

Proposed Building Footprint 312 m

Proposed Total Build 533 m

Bijela

Kotor

Budva

Tivat

Lustica

Rose

Radovii

Lastva

Herceg Novi

BAYOFKOTOR

ADRIATICSEA

E80

E80

E80

E80

E65

E65

E65

E65

Church Valley

Project Description

This Project is more o a renovation (reconstruction)

than a new designed development.

It is proposed to build two houses, one larger

luxury villa and one smaller guest house on this

site. The existing circular stone structure guvno

is well preserved and can be renovated as an

arbour or gazebo. On the lower part o the site

(the meadow) a large swimming pool with an

arbour as a landscape eature and shaded area

is proposed. The access to the site is rom the

existing road on the South-East side with a new,

stone-built arched gate. There will be our car

parking spaces with direct access to the road.

The two storey villa is constructed on the ootprint o

the existing main and ancillary buildings, connected

together to make one house. There will be a newly

designed spacious ground foor, and ormal living

room. The main view aces the North-Westerly

direction with views o the meadow and swimming

pool. In ront o the villa is a large open terrace and

ormal garden. On the South-East side, one could

plant a good sized winter garden.

The two storey guest house is a smaller 3

bedroomed building, adjacent to the house with

a lovely large open terrace and ormal garden.

It has bee

landscape

trees, shru

be built as

and Medit

authentic s

Infrastruc

A newly bu

the main r

available. T

There is no

be pumpe


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Vineyard EstateThe Vineyard Estate is situated in the rural valley

between Cetinje town and Skadar Lake. The

proposed development looks to regenerate existing

vineyards o this lush and plentiul area and make

a luxury village with spa, swimming and tennis acilities.

Project Description

This rural location is surrounded by hills and

orientated longitudinally North-South with open

views to the mountains. The design o the site is

inspired by traditional Montenegrin stone village

houses, typical o this region. The Vineyard Estate

concept is based on similar developments in Italy,

France and South Arica, where vineyards are

utilised or the Tourism and Hospitality industry.

Design and Construction

The site is divided into three areas. A country club

hub with Spa and recreation acilities, a boutique

hotel with high-end restaurant and a residential

development. The residential development will

have access to swimming and tennis acilities.

The bulk o the development will be characterised

by luxury villas nestled between the vineyards. This

is part o regeneration project or vineyards which

are disappearing in this valley. As it is an integralpart o this development, the vineyards and winery

will serve the guests o the Vineyard Estate.

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Section Elevation

Vineyard Estate

Podgorica

Budva

Kotor

Skadar Lake

T

T

E80

E65

E65

E80

E65

E765

External treatment o all buildings will include the

use o thick local stone walls to the South and West,

with those to the North and East in contrasting

render. All lower ground walls, balustrading, stairs

and paving will be o local stone, with traditionalroman tile roo coverings.

Environm

The develo

set to 20%

to minimiz

sustainabl

The propo

establishe

Given this

as much o

and bio-di

woodland

and East.

due to its i

Site Plan


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Let:Tara River.

Above: MountainViews.

MThe terrai

mountain

and Kolas

or Monte

heavy he

the weath

perect o

challengin

The North

second la

Above:Durmator


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Kotor

Budva

i

i

L tv

E

E

E

E

Kolasin Mountain VillageKolasin Mountain Village is situated approximately

2 km rom the centre o Kolasin, creating easy

access to this beautiul area. The site is North-

acing with antastic mountain views as well as

views across the sloping Kolasin meadows

and woodland.

Project Description

Kolasin Mountain Village is divided into three

areas. The upper central part o the development

will be the Village centre with indoor and outdoor

pools, saunas, bowling alley as well as shops and

restaurants. A sports centre with tennis courts in

the summer and ice rinks in the winter will sit on

the second meadow area o the dev elopment.

The main development will consist o traditional

style log cabins, stone built ground and lower

ground foors with timber construction on the

rst and second foor and lot.

Luxury as well as mid to low range apartments will

be positioned around the rest o the site.

30

Viewsacross Kolasin.


New Development Area 36,300 m

New Build density 33%

Kolasin MountainVillage

Kolasin

Niksic

Podgorica

Skadar Lake

E65

E765

E80

Infrastructure and Transport

There is electricity on this site but a new sub-

station will have to be built in order to service the

area. Proper road access to the site will need to be

built as well as a water supply, however the area is

extremely rich in natural water sources making this

a simple task.

Environmental and Sustainable development

The development density o the site has been

set to 40%. This policy refects a strategic aim to

minimize ecological impact and allow or sustainable

development.

The proposed development is set within well

established woodland and meadows. Given this

rural setting, it is imperative to retain as much o the

existing landscape, native trees and bio-diversity

as possible. Much o the existing woodland can be

retained as a screen to the East o the site.

Si

Section Elevation


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La


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SkadarLake.

34

Skadar

Skadar La

divided b

and Podg

Montene

lake is 39

Balkan P

lake (40,0

Park in 19

and auna

It is one o

having 27

some o t

abundan

La


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The Skadar EstateNestled in a mountainous valley overlooking the

beautiul Skadar Lake, the development oers a

rich variety o accommodation within exceptionally

beautiul natural surroundings. The development

includes a 5-star luxury Hotel and Spa, terraced

houses under planted roos and luxury villas that

are arranged organically along the contours o

the landscape.

Project Location

Skadar Lake is the largest lake in the Balkans.

The landscape surrounding the lake is breathtaking,

dotted with small, picturesque villages. The climate

o the Skadar Valley makes it the perect holiday

destination with mild winters and hot summers.

Tourists come to this region to enjoy shing and

swimming in the lake. In addition, the Adriatic coast

is a mere 20 minutes drive rom Skadar via the

newly built newly built Sozina tunnel.

Section Elevation

T

T

E80

E65

E65

Skadar EstatePodgorica

Budva

Kotor

Skadar Lake

E80

E65

E765

Development Concept

A mixed use development including a 5-star Luxury

Hotel and Spa, luxury villas and terraced houses.

Infrastructure & Transport Access

Access to the site is gained rom an existing road

along the northern edge o the site. New paved

vehicular routes eed o this existing arterial into the

development. The new roads culminate in private

driveways or each residential unit and outdoor

parking courts and basement parking or the

Hotel and Spa.

The development site is supplied by numerous

natural water sources. The regulation o the water

supply will be acilitated by capturing the natural

water at source and storing it in strategic reservoirs

above the development. To maintain the availability

o sucient potable water, a rainwater harvesting

system will be used or grey water systems,

maintenance o swimming pools and

landscape irrigation.

Environm

The propo

establishe

setting, to

trees and

o trees is

where pos

The develo

limited to 1

ecological

o planted

hotel build

impact o

roos cove

on the site


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Yielding Assets The Orangery, Perast

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Ultimate Montenegro Ltd has 5 yielding assets

in The Portolio, the best example o which is

The Orangery in Perast.

The Orangery, Perast

Perast is well known as being the most desirable

location in the UNESCO protected Bay o Kotor.

This immaculately preserved Venetian town

is steeped in history, boasting 16 Baroque

palaces, 9 deensive towers, 16 Catholic and

2 Orthodox churches.

The Orangery is a charming, waterront, 4 bedroom

villa in the heart o this chic part o Montenegro.

It has a courtyard in the ront o the house that

could be used or parking, or one could erect a

single storey building or which outline planning has

been granted. At the back o the villa is a terraced

garden, complete with barbeque area and sun

deck. The shoreline o the Bay is only 10 m rom the

ront door, providing immediate access to a wide

range o water sports and activities (swimming/

snorkelling, sailing, water/jet ski, shing).

Artists Impression

Floor Plans - Ground Floor First Floor


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About Us

The team are senior property investment proessionals, with a blend o local knowledge and

international experience who have identifed a unique development opportunity in Montenegro.

Ultimate Montenegro entered the market in 2004 and acquired prime plots o land across the

country with diverse development opportunities.

Our specialist local team have carried out the necessary legal and planning due diligence or

each asset. We oer consolidated land packages with zoning and planning consent and an

on going local implementation support.

Michael Ward, Kotor, Montenegro

Michael began working in the

Investment Management industry in

1988, ater graduating rom Oxord

University. With 22 years o industry

experience o which 8 years in the

Balkans, Michael has managed

investment portolios specialising

in Eastern Europe aor various

institutions, including Head o EMEA

Equity at HSBC Asset Management,

TCW Asset Management and ABN

Amro. In 2000, he was ranked No.1

Investment Advisor in Turkey and No.2

in both Poland and Hungary (Reuters

GEM survey). In 2005, Michael was

appointed Director o Montenegro

Investments Limited (MIL), a CISX-

listed closed-end real estate company

and one o the largest oreign investors

in Montenegro to date. Michael is

responsible or the implementation

o the groups Strategy, Research

and Marketing activities. Michael

has a working knowledge o the

Serbian/Bosnian languages.

[email protected]

Amra Ward, Kotor, Montenegro

Amra began working in the investment

industry in 1996, ater obtaining

a Masters Degree in Advanced

Mechanical Engineering rom Imperial

College, London. As an Eastern

European investment specialist, Amra

has worked or a number o blue chip

institutions such as Merrill Lynch, TCW

Asset Management and ABN Amro.

In 2002, Amra acted as Advisor to a

UK FTSE-listed real estate company

regarding Western Balkan acquisitions

and privatization activities. In 2005, as

the Director o Ultimate Montenegro

Ltd, Amra was appointed Advisor to

Montenegro Investments Limited (MIL),

a CISX-listed closed-end real estate

company. Amras local knowledge and

extensive network is the principal driver

behind the groups Commercial

& Urban Planning programs. Amra

is fuent in English and her native

Serbian/Bosnian.

[email protected]

Chris Kemsley, London

Chris started his own property

consortium in 1994 and is one o the

largest providers o aordable housing

in West London. He has signicant real

estate experience in both developed

and emerging markets. Chris advises

on all property und decisions and is

responsible or Joint Ventures and new

business opportunities.

[email protected]

Danny Parish, Kotor, Montenegro

Danny has extensive experience

with sales and marketing and has

worked in the commercial and travel

sectors internationally since 1990. At

the beginning o 2007 she moved to

Montenegro to work as a Sales and

Marketing Director or a UK hedge

unds Montenegrin division. Ater

successully completing the sales

o their assets in October 2008, she

moved to join Ultimate in November

2008, as their Head o Sales

and Marketing.

[email protected]

Sandra Tepic, Kotor, Montenegro

Sandra is a graduate o the Faculty

or Maritime Studies, Management

Department, and is fuent in English.

She has been with Ultimate since

they opened in 2004, and with her

excellent knowledge o oce and

human resources management, she

is responsible or all oce operations

and procedures.

[email protected]

Borka Papovic, Kotor, Montenegro

Borka obtained a Masters Degree in

English Language & Literature at the

University o Niksic. She has been

working in the Montenegrin Real

Estate sector since 2005, and joined

Ultimate in 2008. With her extensive

experience o the real estate market,

she is responsible or property

administration and market research.

[email protected]


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1st Floor, Bree Street Studios

17 New Church Street

Cape Town

P.O.Box 15794 Vlaeberg 8018

T: 021 423 3241

F: 021 423 6633

[email protected]

www.visserthomas.co.za

Design and produced by SmallBackRoom.com

Corporate Partners

Ivan Usljebrka

Architect RIBA

www.ultimatemontenegro.com

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