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A sound investment property located within one of Sofia’s key growth areas [ SOLD ]  Region: Sofia  Price: EUR € 73 766  Bedrooms: 0  Property Type: Apartment  Development State: Off Plan

Features: Garden, Pool, Parking Amenities: Shops, Bars & Restaurants, Near a golf course, 24 Hour security, Gymnasium, In Town, Childrens Playground, Mountain View, In City Description:
Get a £250 cash back towards the cost of the inspection trip to Bulgaria once you pay your 1st installment (not to be mixed with the reservation fee)!

We are pleased to have been appointed as an agent for the sale of Belgravia - a complex comprising 4 residential buildings each with between 23 and 29 premium studios, 1-bed and 2-bed apartments located in the heart of the University Quarter.
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Competitive advantages
-Premium apartments within private complex
-Within the greenbelt of the University Quarter, Sofia
-High rental occupancy
-Rental return: Between 6% and 8%
-Increased investment in the University Quarter
-Infrastructure development & continued growth of Sofia Business District

General Information
Located between the prestigious area of Lozenets and Sofia’s business district and with stunning views of Vitosha Mountain, The Belgravia sits within one of Sofia’s key growth areas. This private complex is in the heart of the University Quarter, and is naturally protected by surrounding parks, sports fields and university buildings.* In this phase, there will be four residential buildings each with between 23 and 29 premium studios, one-bed and two-bed apartments. The development has three phases of construction, with the second phase launching in August 2007. Our architecture and construction brief was to develop apartments that have strong appeal within the local market in order to maximise rental return and reselling prospects.

Gated communities with leisure and parking facilities have become increasingly popular within the Sofia market and with limited room for expansion so close to the city centre, demand for such accommodation is high. Accordingly, rental returns from these apartments will have a premium and there will be a dedicated onsite rental and management company available for our clients.*

* As of 27th December 2006 a new law was passed prohibiting any new building in this area, reserving it for sport and recreation facilities only.

Distance from
Sofia Airport – 8km
Ski center Borovets – 100km
Ski center Bansko – 80km

Completion Date: Mid/End 2009
Property Type: City & Cultural Apartments
Completion Stage: Launch
Number of Bedrooms: Studios, 1 & 2-Beds
Size: 45.00 m² - 88.00 m²

Facilities
-Accommodation: 44 studios 26 one-bed apartments
-28 two-bed apartments
-Finishing: Complete to high specification (see specification details)
-Furnishing: Additional to purchase price
-Elevators: Each building has a low-noise elevator
-Additional spaces: Most studios & apartments have a balcony or private garden
-Communal facilities: Concierge
-24-hour security
-Property management & rental
Maintenance
-Electronic key card gate system
-Gardening
-Cleaning
-Gym and sauna
-Health & beauty salon
-Restaurant
-Underground parking
-Broadband, cable TV
-Additional facilities: Access to tennis courts, 50m pool and other sport facilities

Prices
Price per square metre € 1,330 - € 1,400
Studio € 73,766*
1 Bed € 96,224*
2 Bed € 141,035*
* all prices include VAT

Maintenance Fee
The maintenance fee is € 8 (excl. VAT of 20%) per sq. m. per year. This charge excludes private utility usage, insurance, local taxes, and rental management fees.

Payment Options:

Option 1 (Standard)

Reservation fee - €1,500 (£1,130.00) – This fee is refundable within 7 days
1st payment of 35% - on exchange of contracts within 21 days ( less reservation fee)
2nd payment of 30% - on block completion, expected for August 2008
3rd payment of 30% - on completion, of construction, expected July 2009
Last payment 5% - on total completion and notary transfer

Option 2 (Pre-arranged 65% Mortgage with UniCredit Bulbank)

Reservation fee - €1,500 (£1,130.00) – This fee is refundable within 7 days
1st payment of 35% - on exchange of contracts within 21 days ( less reservation fee)
Last payment of 65% - at Act 14 Certificate for rough construction, expected for August 2008


Finishing
According to developer’s specifications:

Kitchen: Tiled floor. Complete units, fitted sink, twin taps and wall cupboards with built in lights
Plumbing: All piping and central heating included
Bathroom: Bath* and taps, toilet, basin and mono block tap mixer sink, complete shower unit, extractor fan and fittings and accessories. Floor and wall tiles
Communications: Internet, phone and cable TV access
Electrical: Switches and sockets throughout
Heating: Centrally heated radiators throughout
Entrance doors: Reinforced security doors (quadruple lock)
Doors: High quality internal complete with door furnishing
Windows: High quality double-glazed
Floors: Parquet throughout complete with wood edging, except kitchen and bathroom, which will be tiled
Walls and ceilings: Smooth plaster and painted
Lighting: Spotlights throughout
* some studios do not include baths


Furnishing
Not included in the price.

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