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The Jack Nicklaus Design PGA Golf Course, Spa and Country Club in Dolna Banya, just outside the ski resort of Borovetz. As you may be aware this development has proved extremely popular with huge potential for capital growth and returns, take a look we definitely think it will be of interest.
This is an outstanding project and the potential for capital growth and returns is immense both with the golf in the summer season and with the skiing in the winter and the shuttle service taking guests straight to the ski lifts.
People will pay a premium for a holiday on a Nicklaus course and for the thermal spas in the winter with direct access to the ski lifts. The resale value, capital appreciation and rental returns will be at a maximum with something so unique and exclusive and at these initial prices it actually makes them cheaper than run of the mill apartments in Bansko or Borovetz, instead of being one of many with this you will have a one off!
Something else worth bearing in mind is, if you chose to use it, there is A management company on site. Investors will have the backing of a huge marketing machine to publicise the facilities and one point of contact for tourists and major holiday companies giving you maximum occupancy throughout the year.
The floor plans of the Villa show how it is designed to exacting standards
The first phase villas are marked in red with the apartments located directly east, indicated by the red arrow (Block 49). They are situated behind the front line villas which directly overlook the practice facility and the golf course.
When you consider the exclusivity of Nicklaus design, and the only PGA golf course in south eastern Europe, with huge growth potential as it is well over 12 months off-plan. Payment terms are -
15% on exchange of contract
20% on ground "ZERO"
15% On completion of roof
50% on completion in 18 months time.
Compared to similar Golf courses In Spain and North America and even ones in Bulgaria this represents a stunning investment. In Spain 3 bed Villas on Jack NIcklaus PGA Golof course can cost around 500,000!!
Below are a few questions from a client that has reserved and my answers to them, it may be of use to you as there is so much to say regarding the development.
When will the golf course be completed? The construction of the first phase and the practice facility will begin in march 2006, the construction of the first nine holes in September 2006 aiming to be completed before construction of the second set of 9 holes in September 2007, the developers are aiming to have the whole complex will be fully operational in 2008.
What are the green fees and/or yearly membership? As with any golf club there will be a membership fee, the golf club membership fee is set at 2 levels, 1600 euros or 2000 euros and this includes the maintenance of the apartment, sports facilities, golf course, roads, street lighting, etc.
What are the likely maintenance costs of the apartment per year? There is no maintenance fee to pay; it is included within the golf club membership fee.
Is there a swimming pool on site? There are numerous swimming pools on site both indoor and outdoor including a children’s pool, some will have thermal mineral pumped directly into them at 65 degrees Celsius, there will also be pools in the small conurbations of villas in the later stages. The best news is there will be a pool between the two blocks of apartments for sale solely for the use of the apartments. In addition to all this there will be tennis courts, football, volleyball and basketball fields, Club House and Restaurant, Whisky Bar, Pastry Shop, Members’ Room and Pro Shop, Spa Centre with outdoor and indoor mineral water swimming pools, Roman Bath (thermal), Finnish Sauna, Turkish Bath (Hamam), massage baths, beauty shop, contrast showers, Cleopatra Bath, personal changing rooms and other modern spa facilities, Mini Market, Catering facilities, Nursery and a small club hotel of 20 rooms and 10 suites for the members and their guests, plus much more!!
What apartments are available at the moment? The apartments are being reserved extremely quickly, at present in the West Block we have only Ground floor available – A2 & A3 - 1 Bed. In the East Block ground floor - First floor – A6 – 1 Bed. All have balconies or terraces with a South-Westerly aspect.
Is furniture included in the price? No. the apartments have fully fitted and tiled bathrooms and kitchens, however white goods are not included. Furniture packages are available from many sources and the developers will themselves put together a package nearer completion.
Is there a management company on site? There will be a management company on site, should you choose to use it, which with an exclusive development such as this will be a great bonus as there will be one point of contact for tourists and tour operators wishing to use the development maximizing your occupancy.
How difficult would it be to sell these at a later date? Buying on a prestigious development that has something different to offer is the best way of ensuring a resale factor, Nicklaus courses the world over have always been a good investment for resale. If you have a one off it also maximizes the resale value, if you bought a bog standard apartment in a ski resort you would still be able to re sell but you would have one of many possibly lowering the value. The Bulgarian government has invested heavily in this project to bring attention and tourism to the country, the aim is to eventually bring the PGA European Tour to this course giving a great demand for rental and ensuring added interest with regard to resale.
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