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BGN149,141

(EUR 76,243)

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Apartment / Flat
For Sale
Sofia
Bulgaria

This peaceful new development, situated in Dragalevtsi residential district in Sofia, comprises of two four-floor buildings, each with 12 and 14 apartments respectively. Beautiful views open from the premises towards the capital or to Vitosha Mountain. The excellent location of Panorama Residence, which is set in the foot of the mountain and at the same time within easy driving distance to the center of the capital Sofia, turns the complex in a most desirable dwelling and vacation place. Good communications secure fast access to the city center, which is less than 15 minutes drive by car. The site is, at the same time, some 15 minutes drive to the longest ski slope in Vitosha Mountain (Laleto, `The Tulip`; very close to the Gondola lift and a few minutes away from the ski lift, leading to the highest peak in Vitosha mountain - Cherni Vrah. This perfect combination of proximity to the big dynamic city, fresh air and natural environment, turns the development into a site, much sought after by the fanciers.

Composed of various in size apartments and ateliers, shops on the ground levels with separate entrances, facing the street, and adjusted with all modern conveniences, such as beauty parlour, luxury sports center with a gym, sauna, communal swimming pool etc., the buildings provide all that is necessary for a comfortable living and rest. This development offers the ideal blend of superb architectural decisions and technical performance and most contemporary and stable building materials, all in a quiet area, richly planted with greenery. Both buildings have underground parking with 13 and 10 parking spots, as building `B` has 2 additional garages with another 2 and 4 parking spots respectively. The elevators in the buildings go down to the underground level and the parking spots as well. There is also gated access and video surveillance in the complex. Neighbor apartments can be joined together.

Two commercial units are also available in building `A`. One even goes with a storehouse in the basement, and is suitable for a food store or a restaurant. Both areas can be unified into one bigger trade center. Inside the complex there also is a confectionery and two other premises, also appropriate for offices, all with separate entrances.

Completion Date: All building works are scheduled to be carried out until 30.06.2007. Additional time will be needed for the finishing works over each apartment.

Finishing works may be carried out for the customer against additional payment of 100 Euro per sq. m.
Parking facilities: Above ground parking: 1 garage for sale; 14
parking lots for sale;
Underground parking: 13 parking lots for sale;
Distance from Sofia airport: 7 km
Distance from Borovets: 65 km
Views from the apartments: Mountain/City

COMPLETION DATE :30.06.2007

SERVICES AND AMENITIES
_ luxury sports center with a gym
_ beauty parlor
_ sauna
_ communal swimming pool
_ underground parking
_ shops

DEVELOPMENT AND APARTMENT SPECIFICATIONS

Internal Walls: Walls are covered with plaster ground coat, so that each customer can choose the final coat material at his own taste.

External Walls: Facade walls made of 25 cm ceramic tiles, isolated with 5 cm EPS thermal insulation on which it is applied siliceous plaster using the Baum it system. The walls on the first levels of the buildings have stone facings.

Ceilings: Ceilings are covered with plaster ground coat, so that each customer can choose the final coat material at his own taste.

Floorings: Floors of all commercial units, ateliers and apartments are handed over in leveling coat stage, allowing each customer to choose the flooring at his own taste

Windows: Joinery of the apartments and ateliers realized in PVC profiles with 24 mm double-glazed units.

Doors: Each apartment has a reinforced entrance door
Bedrooms: Not finished so that each customer could choose finishing at his own taste.

Living rooms: Not finished so that each customer could choose finishing at his own taste.
Kitchen areas: Not finished so that each customer could choose finishing at his own taste.

Bathrooms and toilets: Choice is given to the customers for the sanitary faience and ceramics as well.
Communal areas: Luxurious lifts with automatic doors, going to all floors of the buildings, including the underground car parks.

Completely finished common parts of the buildings: walls and ceilings painted with latex, stone floorings, stainless steel and glass railings installed on the staircase.

FURNISHING:
Our partners at Umsa Group of Companies Ltd will offer various types of furniture packs for Sunset apartments. The furniture packs for rental apartments will include everything necessary for both occupation and rental, including:
� Beds, cupboards, dressing tables, bedside lighting
� Cooker, microwave, fridge, kettle, toaster
� Pots, pans, cutlery, crockery, kitchen implements
� Dining table and chairs
� Sofa and easy chairs (that convert to a sofa bed)
� Linen, towels, bedding etc
� TV`s in each room, a Hi-Fi system with CD and MP3 player
� Table lights
� And everything else needed to make the apartment ready to rent

Furnishing prices range from 4500 to 6500 Euros (inc VAT) depending on the size of the apartment. We highly recommend using the services of Umsa Group of Companies Ltd in order to achieve the necessary standard for apartments which are to be rented out via the letting scheme with Property Management.

MAINTENANCE:
Maintenance Services are provided for this property. The price for this service is not fixed yet. This covers maintenance of the building, incl. electricity and water systems and roof, cleaning public areas, gardening, payrolls of staff.

LETTING MANAGEMENT:
All buyers who wish to rent out their apartments to tourists can use the services of East Management.
� The marketing department of East Management will run major advertising campaigns to attract tourists to these apartments. All modern techniques will be used including web marketing through the leading tourism portals and reservation systems in Bulgaria.
� Print advertising in local, British, Irish, Russian, Bulgarian and other international media, together with the presentation of the complex at international exhibitions and travel shows.

� Targeted advertising to local tour operators and travel agents, as well as the leading British, German, Scandinavian, Dutch and Russian tour operators.
� In addition Panorama Residence will be marketed locally in Bulgaria through the offices of East Management, to individual tourists and visitors.
� For more information on the management & letting of your apartment you can contact our partners at info umsagroupofcompaniesltd

� Owners will be offered fixed rates per night for short-term rentals. Long-term rents are subject to additional negotiation between the tenant and the apartment owner, which will be handled by us on your behalf. Our experience shows that short term rental provides a higher rental income and we expect that these apartments will bring 6% rental return during the first year and approx. 8-10 % during the second and next years.

PAYMENT OPTIONS:
Prices and availability - constantly updated. The prices are final and 20 % VAT inclusive. The full price paid is written in the title deeds. Additional costs, notary fees and stamp duty are approximately 3% on top of the purchase price.

Payment options:
Reservation fee: 2500euros.
� 10% on Preliminary contract
� 40% reaching level + 9.00 m
� 20% reaching level + 17.20 m
� 20% when assembling external window frames
� 10% on Act 15

General conditions:
�Each apartment is sold with a relevant part of the land beneath the building; therefore company is needed to buy an apartment in Panorama Residence.
�It is not necessary to come to Bulgaria in order to reserve an apartment or sign the relevant documentation, such as preliminary contract or company documents.
�It is not necessary to come to Bulgaria in order to sign or receive the title deeds of the apartment.

MAIN ADVANTAGES OF THE PROPERTY
�First-rate site in a modern area with excellent investment potential and constantly growing prices.
�The apartments in the complex are suitable for both residence and holiday home.
�Excellent location � about 10 minutes drive to the center of the capital and easy access to every part of the city.
�Immediate proximity to the ski slopes and winter sports facilities.
�All favorable conditions for either long-term or short-term letting.
�Small swimming pool will be constructed on the site.

Phone:+359 895 291 825

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