Obzor Club Eng 2010 Final

OPPORTUNITY DETAILS – Development project for sale.

Price: Eur 3.8m.

LOCATION - Frontline site overlooking The Old Harbour Byala

PLOT SIZE - 17800 Square Metres

BUILD-UP AREA – 28098 Square Metres

LAND STATUS - Regulated with Building Permission

SECTOR - Lifestyle Residential

OPPORTUNITY TYPE - Ready to Build 5 Star Luxury Gated Residential Resort Complex

REVENUEGross Development Value (Sales) 33,248,861

EXPENDITUREDevelopment Cost 14,628,413Recommended Sale Price of Project [€5,174,092] Disc. Sale Price €3,800,000 Transfer Tax & Legal 166,244

Total Expenditure 18,594,657

PROFIT (Based on discount price @ Eur3.8m) €14,654,204

CONDITIONS OF SALE – PURCHASEThe company Marina Beach OOD will be sold as a going concern with all its assets and intellectual property, which include the project and land called Obzor Club, all permissions, all drawings, all 3d visual images and website www.obzorclub.com.

Summary Appraisal

REVENUESales Val.m² Rate m² Gross Sales

Apartments 22,673.65 €1,400.00 31,743,110Garage Spaces 2,557.67 €300.00 767,301Commercial 984.60 €750.00 738,450Totals 26,215.92 33,248,86133,248,861

NET REALISATION 33,248,861

ACQUISITION COSTSFixed Price (28,098.00 m² €135.24 pm²) 3,800,000Transfer Tax 94,000Notary / Legal 47,000

3,941,000CONSTRUCTION COSTS

Const.m² Rate m² CostApartments 23,867.00 €420.00 10,024,140Garage Spaces 2,841.85 €250.00 710,462Commercial 1,094.00 €375.00 410,250Totals 27,802.85 11,144,85311,144,853

Developers Contingency 5.00% 557,243557,243

PROFESSIONAL FEESProject Management 5.00% 557,243

557,243DISPOSAL FEES

Sales Legal Fee 0.50% 166,244Apartments 1,904,587Garage Spaces 46,038Commercial 36,923

2,153,791

VATTotal Paid (2,978,946)Total Recovered 2,978,946

FINANCEDebit Rate 7.000% Credit Rate 0.000% (Nominal)

Land 239,924Construction 603Total Finance Cost 240,528

TOTAL COSTS 18,594,657

PROFIT €14,654,204

Performance MeasuresProfit on Cost% 78.81%Profit on GDV% 44.07%Profit on NDV% 44.07%

IRR 144.69%

This document is confidential and has been made available to the individual/ Corporation on the understanding that its contents will not be disclosed or discussed with any third parties except for the individual’s / Corporation’s own professional advisers. The information contained within this document does not form part of any contractual agreement.

Discover OBZOR CLUB

Elegance & Sophistication 

OBZOR CLUB is set in an oasis of luxury in lush gardens overlooking The Old Harbour Byala and Obzor bay and is ideally situated being equidistance from the international airports of Bourgas to the South and  Varna, the Sea Capital to the North. The thirty five minute drive to OBZOR CLUB will enchant and enthral you with beautiful scenic views along the Black Sea coast. Byala is a rich wine centre, with traditions in the wine industry that date back to ancient times and here the wine of the extremely fine vintage “Dimyat” is lovingly produced.

Byala has all the beauty that Mother Nature could have bestowed upon it; crystal clear water, the most beautiful white sandy beaches - ideal for all ages, unbelievable coastal scenery and surrounded by evergreen forests and nature reserves. The harbour is a welcome haven for the many yachts that visit and the proposed new marina of international standards, with direct views from OBZOR Club, will substantially increase the desirability of the area.

OBZOR CLUB set in a prime sea front location -superior luxurious

apartments.

An Oasis of Luxury

The Residence OBZOR CLUB is set amidst lush gardens, elegantly landscaped with a profusion of local plants and trees. Panoramic views to the sea and mountains are an ever ending source of delight as is the beauty of the magnificent gardens and grounds. The harmony which nature imposes on the charming surroundings is preserved by excellence of planning and design, offering owners the assurance of a lifestyle in a luxurious environment but with all the modern conveniences that design, quality and space can provide; a combination of modern Mediterranean style architecture and European interior design, encompassed in tranquil and lush surroundings.

OBZOR CLUB apartments feature spacious bedrooms, generous lounge areas along with marble bathrooms and look out onto lush gardens and to the bay of Obzor.

Most stunning of all however, are the penthouses with panoramic views to the sea and featuring a roof sun terrace with private Jacuzzi’s - the perfect invitation for an alfresco breakfast or romantic dinner.  OBZOR CLUB exclusive and sophisticated - perfect for those seeking a relaxing seaside retreat. 

Superior quality at an affordable price

OBZOR CLUB is an extremely spacious and uncluttered contemporary designer complex with magnificent sea views across Lunar Bay to Obzor and overlooks quiet secluded beaches and the Old Harbour. Close by are four internationally designed Championship golf courses, tennis courts and Water Sports equipment hire.

The complex itself boasts a myriad of facilities to keep all membersof the family happy including

Health SPA - Fitness centre - Beauty salonLarge swimming pool, pool bar, children’s pool with secure play areaRestaurant, Mini martMedical centreInternet room and management offices with full management services

All penthouses come with private Jacuzzis and generous sun terraces and the gated complex can be approached either via the covered entrance with uniformed 24/7 manned and CCTV security, or directly into the complex via the secure full underground car parking garages.

To complete the package, all individual dwellings come with state-of-the-art security swipe keys, quality kitchens and bathrooms, a comprehensive choice of luxury furniture packs or individual bespoke packages and the option for individual apartment management..

Features of the Complex

OBZOR CLUB …LIFESTYLE

OBZOR CLUB is close to the many shops, cafés and nightclubs in Obzor and Byala

A range of excellent restaurants offer everything the discernable palette could desire, with a gastronomic choice ranging from typical Bulgarian to the very best International cuisines.

The resort is also serviced with regular transportation to both Bourgas and Varna with their state of the art shopping malls, chic designer shops and everything associated with a busy modern metropolis.

This exclusive location also offers a variety of activities including beautiful clean sandy beaches and for the more adventurous the local marina and harbour is ideal for all the associated pleasures of Water skiing, Sailing, Fishing, Surfing, Scuba Diving, Windsurfing etc.

Golf merits a special mention with the proposed creation of three new championship golf courses in the area and the magnificent signature golf courses now open north of Varna.

Lifestyle Living

With a real sense of privacy, luxury and exclusivity, the wellness centre health Spa takes a holistic approach to well being, combining ancient eastern therapies with the latest western techniques to encompass mind, body and spirit.

Spa

Facilities include

Turkish bath steam room

Sauna

Jacuzzis

Massage rooms

State of the art Gym equipment

Hair and beauty salon

Heated pool

 The Developer

OBZOR CLUB has a dynamic management team with extensive experience in the property business. In addition, the development team have many years experience in operations and financial management.

The project has been designed by international architects in Spain, with a vision to fulfil the need of the more discerning clientele now requiring luxurious properties of a high quality on the Black Sea coast.

Our input has been significant in restating the fundamental equilibrium which should exist between development and nature. We as developers and the architects believe that in this Millennium the customer is entitled to demand a far superior quality of life, founded on the two symbols of the spirit of our times - fascination with the cult of technology and concern for the environment. 

The main objective of our development group is to meet the most demanding standards and discerning tastes of a market which is better informed than ever before.

OBZOR CLUB - the essence of European culture and architecture, allowed to evolve into a unique and

compelling vision.

Contact Details