Novaturient Joint Ventures

Uznadze Apartment Development

Status

Completed

Project Type

Apartment

Project Area

76 sqm

Investments from

$50,000

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Villa Development and Renovation

This property was picked up by the team requiring a complete renovation. No electrical, no gas, no water just a couple of leaky pipes from the floor above and an overflowing sewer pipe!

We designed a unique property to suit an eclectic and modern short term rental but with all of the goodies!

A custom mezzanine floor with double bed was built, creating a hideaway location whilst the lower level contains both a walk in robe and study area with an inbuild desk.

Brand new plumbing and electrical was installed as well as choosing a gypsum lining over the solid plaster. We also reinforced the walls and ceilings using steel to ensure the structural integrity.

Some creative aethetics were used in the dining room to create the custom lit up niche to the wall and the feature timber cladding, adding charm and character on entry and a large custom niche was fitted to the second bathroom for guest convenience.

Lighting was important so we maximised the opportunity to have hanging feature lights in the main rooms whilst also adding downlights and hidden LED strip lights for that extra pop in the kitchen, Stairs of the mezzanine floor and niche areas.

Air conditioners were installed to the living and bedroom and central heaters installed throughout the dwelling for the cooler months in Georgia.

The property now homes 2 bathrooms, kitchen with separate dining/meals, a spacious living room with a feature TV unit and sofa bed allowing for an additional guest to stay and a queen and double bed allowing for 5 guests to stay whilst being just a stones throw from the tourist walking streets and incredible restaurants of Tbilisi such as Ninia’s Garden & Unfound Door.

This renovation took just under 3 months including application for a gas meter and the build and installation of the gas box, reinforcing some external walls and re rendering the outside facade area.

On current government valuation there has been a 15% increase in the property value since the completion of the renovation and since hitting the short term rental market it has been booked for 21 of the 26 nights resulting in an 80% occupancy rate which has been incredible for the investors with a strong ROI forecasted.

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