Off-plan 5 Star Complex with furnished apartments - ID 3473

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This is an off-plan 164 apart-hotel that offers 5 star fully furnished apartments. All apartments are generously proportioned with good sized useable balconies and quality furnishings. Many apartments have interconnecting doors which offer the option of family use in more than one apartment. This will also benefit the investor who is looking to buy more than one apartment for dual use as they can buy on different payment plans and sell smaller units separately. All public areas are spacious and benefit from being designed by experienced British hoteliers.

All apartments are sold as fully furnished with Italian inspired furnishings and a high quality ‘ready to rent’ package that includes luxury’s such as an LCD TV and DVD player as well as the essentials such as cutlery, glasses and bedding etc included in the price. A fully fitted kitchen with appliances is also included in the price.

Full hotel property management will be provided on completion and purchasers can opt into the RVR owners club. If they opt into this scheme they will benefit from a percentage share of the overall rental income of the aparthotel regardless of how often their particular apartment is rented. This is a major sales point and takes away the uncertainty about the rentability of their particular apartment. If this scheme is opted into then the owners can still use their own apartment free of charge for 1 week in the peak winter season, 1 week in the peak summer season and for 2 weeks off-peak use.

Features:

• Situated in the stunning Razlojka Valley, Bansko, Bulgaria
• Prices per sqm for the non discounted payment plan are from 1117 Euros per sqm to 1540 Euros per sqm dependant on floor level. Discounts of up to 12% are available from these prices.
• Prices include 100% of the purchase price shown on the title deeds
• 24 Hour courtesy shuttle bus
• Uninterrupted Mountain views from all apartments
• Designed by experienced UK hotel Developers
• The Aparthotel has been designed to achieve all year round rental and features the 'RVR Owners Club'.
• Five Star quality accommodation including panoramic glass lifts
• UK Property Management and Rental Company
• All year round leisure facilities
• 600 metres to the Ian Woosnam designed golf course
• Gated resort with 24 hour security
• Voted the most improved ski resort in Europe
• All apartments are centrally heated for the cold winter months and offer full air conditioning for the long, hot summer months.

Outdoor facilities include :

• Tennis court
• Outdoor swimming pools
• Swim up pool bar
• Children’s play area
• Mountain Bike Hire
• Large areas of landscaped gardens

The indoor facilities offer :

• Large spa area with Jacuzzis, saunas, indoor swimming pools, massage rooms
• Squash court
• Air conditioned gymnasium
• Restaurant with outdoor terracing
• Lobby bar
• Reception Area with winter garden and fireplace
• Rooftop sky bar
• Fully serviced nursery
• Billiards room
• Ski storage for each building

The property management fee is likely to be in the region of 10 Euros per sq m but this will be finalized much closer to the completion date.

Payment Plan A – No Discount

• 2,000 Euro Reservation Fee
• 20% (less the Reservation Fee) at Preliminary Contract – Within 4 Weeks of Reservation
• 80% on Completion and Property Transfer (expected Spring 2010)

Payment Plan B – 8% Discount

• 2,000 Euro Reservation Fee
• 25% (less the Reservation Fee) at Preliminary Contract – Within 4 Weeks of Reservation
• 25% at Foundations (expected Summer 2008)
• 25% at Completion of Roofing Works (expected Spring 2009)
• 25% on Completion and Property Transfer (expected Spring 2010)

Payment Plan C – 12% Discount

• 2,000 Euro Reservation Fee
• 40% (less the Reservation Fee) at Preliminary Contract – Within 4 Weeks of Reservation
• 40% at Foundations (expected Summer 2008)
• 10% at Completion of Roofing Works (expected Spring 2009)
• 10% on Completion and Property Transfer (expected Spring 2010)

The RVR Owners Club

Investors will automatically be invited to join the RVR Owners Club. The RVR Owners Club is a pool of owners/investors who opt for the management of the complex to manage, advertise and rent their apartments on the owner’s behalf. All costs such as insurance and utility charges for apartments that are included in the scheme will be paid by the management of the site and each owner will receive a proportion of the net rental income equivalent to their ownership of space in the overall pool regardless of how often their particular apartment has been rented.

In the owners rental scheme there will be a property management charge which will be taken from the gross rental income. This is likely to be in the region of 15% of the rental income.

Having opted into the rental scheeme, all owners will still be entitled to use their own apartments for a maximum of 4 weeks per year as follows:

1 week peak usage in the winter - from the 15th December to the 30th April

1 week peak usage in the summer - from the 1st July to the 15th September

2 weeks low season usage at any other time during the year

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