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Author
Adell Garcia-Ayats, Pau
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Abstract
The family office has an asset, the Condeminas house. After studying the various alternatives and fighting hard to achieve a quality and profitable project, the family office decided to reform the property for high-end homes.
At first they expected to be able to obtain a hotel license, but the City Council did not provide it due to a moratorium applied in 2015. They analyzed various alternatives and waited to see how it would evolve with a change of government. Possible alternative uses were:
- Residential
- Seniors residence
- Coworking space
- Hotel
Finally, after seeing that the option that generated the most value (hotel license) was not viable, they found that the next most profitable option was residential.
In this work, the rehabilitation of the Condeminas house to high-end homes has been analyzed. To do this, we start from an analysis of the market and the potential customer, which allows defining the product and the approximate prices.
With this approach, the development of architectural and structural designs begins. Once designed and approved, the construction company that will carry it out is sought through a bidding process. The construction is planned and the management of the commercialization of the product begins. The total period expected for a project of this level, once the use has been decided, is 3 years from the beginning of the basic project until the total sale of the property.
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