Prime Ski-in/ski-out Real Estate Project in Bansko, Bulgaria Giving Investors 4 Weeks Usage Per Annum and a Net Annual Rental Guarantee of 7% for Three Years
The 5 star Orpheus Ski Apartment House is an outstanding real estate development, located in what is known as the ‘Premier Zone’ in Bulgaria’s number one ski resort, Bansko
London, England, UK -- (ReleaseWire) -- 02/02/2007 --Orpheus Ski Apartment House is a luxury real estate development project in Bansko, Bulgaria. The investment property will provide luxurious accommodations in 55 units on a prime location near the ski gondola in Bansko. Orpheus’ owners will enjoy a luxury holiday accommodation plus attractive financial rewards generated by both rental income and capital gain. The innovative ownership model address concerns about management control and about land ownership in Bulgaria. Prices from €71,900.
Prestigious Location in the Core of Bansko’s Premier Zone
Orpheus Ski Apartment House has a prime location in the heart of Bansko’s Premier Zone, virtually across the street from the 5-star Kempinski Hotel and close to the Ski Gondola. This location places it in a position to achieve a solid record of rental income. Bansko’s forward-thinking municipality has committed over €12 million to provide new infrastructure and a dedicated area for modern facilities focused around the skiing area. This creates a modern ‘new town’, just steps from the Bansko’s Old Town. The main new improvements include:
• A new Gondola, next to the existing one
• Two golf courses
• A new airport
The property developers have committed to a 5-star project. Owners will see features like:
• The units are larger than the standard units; ranging from 32-164m²/344 -1,765 sq.ft
• All units have balconies
• Hydro-jet baths (except non-penthouse studios)
• Upmarket kitchen appliances including microwaves, ovens, cookers
• Washer/dryers (except studio)
• 10-year builder’s guarantee
Orpheus Ski Apartment House will offer an impressive range of facilities such as ski storage areas, spa centre, indoor swimming pool, steam room, fitness room, room service, restaurant and lounge and lobby bar with a welcoming fireplace.
7% Net Guaranteed Annual Rental Return for Three Years
Orpheus Ski Apartment House management offers a three-year Rental Guarantee Program at no cost to the investor as the management company absorbs the risks. Owners enjoy trouble-free ownership and guaranteed rental income for three years.
Under this scheme, each owner enjoys four weeks free stay at the Orpheus Ski Apartment House each year. During the first three years of operation, two alternative programmes are offered:
• Provides a 7% net annual return based on the buying price, provided that the owner restricts their scheduled stays to avoid the high season periods
• Allows the owner to stay during the high season for a guaranteed return of 5% net
At the fourth year, the developer intends to provide a rental guarantee programme based on the previous years’ performance. Orpheus Ski Apartment House will always provide an attractive alternative to Kempinski Hotel in terms of accommodation and rental rates.
Innovative Ownership Model provides Land Ownership and Management Control
The unique ownership model protects investors through a purchase combination of
• Real estate ownership of the apartment unit, and
• Capital share ownership in the company that owns the project
Orpheus Ski Apartment House Owners own
• The unit/s of their choice, plus
• A proportionate share of the development company
This approach provides fully-declared, authorised value for the purchase in terms of real estate and company ownership. The innovative ownership model gives the owners direct control of the project and a proportionate ownership of the land.
Bansko – The Crown Jewel
In the past 10 years, Bansko has been transformed from a small town into an attractive all-year around mountain resort. Over the past two years over € 35 million has been invested upgrading and improving the skiing facilities to rival that of any top western European resort. This is the ‘fastest renovating winter resort in Europe’ according to the chart of The British Tourist Manual for 2006, prepared by Peter Hardy correspondent at Daily Telegraph. Bansko leads the way for Bulgaria’s bid for the Winter Olympics in 2016.
Bansko also provides a spectacular summer paradise, offering an impressive range of activities such as: Golfing (there are seven golf courses in the Bansko area); Tennis, Horse-back riding; Mountain biking; Mountaineering; Mountain trail hiking; Paragliding; Rock climbing; Tours of historic sites; Trips to nearby Greece or Turkey; Hot-spring treatments and Summer Jazz Festival.
To request a detailed Information Pack on Orpheus Ski Apartment House, email info@HotPropertiesWorldwide.com or call +44 (0)20 7095 8701 alternatively visit www.HotPropertiesWorldwide.com
Media Relations Contact
Hot Properties Worldwide
44 (0)20 7095 8701
View this press release online at: http://rwire.com/10271