Meyvaert in Ghent

Name: Sales in Meyvaert started!
Start: 2021-12-16T10:08:17.049201+00:00
End: 2023-12-31T23:59:59+0000
Location: Meyvaert

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Project info

Object ID: 16474

Finished at	May 2021
Price, m²	From 4300$
Housing class	Comfort
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 60.00 m²
Floors	8
Apartments	100
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Kids playground Near school Near kindergarten Near supermarket Near hospital
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Personal discount certificate 300$
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Return on investment for apartment

with price

9,495$

Rental income

1,103$

Management

689$

Utilities

474$

5% Income tax

7,229$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	25%	8	35$	280$
February	28	32%	9	35$	315$
March	31	19%	6	35$	210$
April	30	20%	6	45$	270$
May	31	38%	12	45$	540$
June	30	66%	20	50$	1000$
July	31	83%	26	80$	2080$
August	31	83%	26	85$	2210$
September	30	60%	18	60$	1080$
October	31	58%	18	45$	810$
November	30	33%	10	35$	350$
December	31	32%	10	35$	350$
Total	365		169		9495$
Average		45%		48$

Total invested

258,000$

Net profit

7,229$

Payback period

27.2 years

Avg property value increase per year

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About the project

ICN Development has teamed up with BESIX RED for the redevelopment of the former Meyvaert factory on the northern docks in Ghent.

This mainly residential project comprises a varied offer of more than 100 residential units and some commercial spaces. The greatest asset of this project is its location: surrounded by greenery and by a newly constructed park in a new neighborhood on the water, which offers the ideal combination of tranquility in a bustling city.

ICN and Besix Red look forward to working together on this project, which is their second partnership. The first joint project of the two companies is the development of the Villeroy-Boch site in Luxembourg City.