Forton

International investor acquires local hotel property in Ohrid back

Overview

Hotel Slavija Spektar represents a building of a 4 floor structure and a basement. The net building area is 3.678 sqm and is set to the west of the location next to the lake in the city of Ohrid, within the St.Stephan hotel resort – a popular tourist center in Macedonia. The international investment company Sahara India Pariwar planning a grand investment in the vicinity contemplated a purchase offer to support its endeavors. Forton was appointed as an exclusive real estate consultant to provide a valuation report with compliance to international standards.


The Challenge

Being among the first local investment projects of the client and considering the scarce market activity for the particular type of real estate, a task of reaching a transparent and fair market value presented a challenge in itself. We were assigned to evaluate the property and to prepare a profound market valuation report.


The Solution

Forton analyzed each aspect of the property - macroeconomic, tourism, market position and performed in depth market research to assess the positioning of the project as a purchase option in comparison to other alternatives.


The Result

Forton supported the existing business motion with an independent opinion on the fair market value of the property and the purpose for which it was intended, in a detailed valuation report that implemented international valuation and RICS standards. This provided the client with a comprehensive collection of informed negotiation arguments to present a compelling case which resulted in a hotel transaction in an otherwise passive market.