Cushman & Wakefield Echinox was instructed to produce a Highest and Best-Use Study pertaining to a ~10 ha site located in the center of a major city in Romania, as the client intended to thoroughly understand the market particularities and assess the feasibility of a mixed-use real estate project on this particular site before choosing the mix of functions.
The site is located in one of the protected historical areas of the city in the immediate proximity to the main touristic attractions. We provided our client with a tailor-made report which included macroeconomic and real estate analyses, a project proposition and also a detailed financial analysis.
Based on market information and also on economic and demographic indicators, Cushman & Wakefield Echinox provided the Client with an overview of the advantages and disadvantages of the site compared with existing and future major projects and with an analysis of the possible market products considering the physical/planning/legal limitations of the site. We identified the Best-Use for the analyzed property and we laid out recommendations for the Gross Leasable Areas, the Number of Hotel Rooms, the Number of Residential Units and other aspects regarding the project.