Hotel Sunrise

Category: Three star Double rooms: 33 Apartments: 5 Total Area: Block A: 317sq.m. building spot with actual build area of 1060sq.m. Block B : 285sq.m.. building spot with actual build area of 1502sq.m. (with the option of further 600sq.m. construction) Total Land: 1629 m2 Location: St.Vlas, Bulgaria Price : 3,200.000 Euro

General details of the complex: • Consists of two separate buildings, the older block A (construction completed 2002) and Block B whose exploitation has commenced 2004. Complex is situated less than 250 meters from the beach of St.Vlas with a magnificent sea view. Buildings framing the patio with the open doors swimming pools (including the shallower one for children) • The layout has sought to create a complete environment, with clean lines in minimalist style it has incorporated modern convenience, beautiful furniture, and a program of construction where quality is paramount.

Hotel section
• A block consists of 27 rooms with terraces, lounge area, reception and 7 rooms at the basement for staff • B block, consists of 6 rooms, and 5 apartments with terraces. Rooms / Apartments • All Rooms and flats fully fitted and • furnished, en-suit bathroom • with WC & bathtub for the apartments and a walk- in shower for the rooms • cable TV, • an air-conditioner, • a mini bar, • a telephone and • a wall mounted hair-drier. • potential to offer internet

Amenities: Near the international resort Sunny Beach; direct sea view; excellent beach proximity; In the immediate vicinity of mountains, suitable nearness to the main road; In fishing and hunting area, walking distance from the center of St. Vlas Additional services and features: Outdoor and indoor swimming pools equipped with chairs and umbrellas, children playground, parking place (7 cars), Fitness, Sauna, Jacuzzi, Massage facility. Restaurant and Cocktail bar for guests. Seating both inside and on the terrace. Full fledged restaurant kitchen with all necessary permits,

since the hotel has been in active tourist exploitation since 2002.

Transportation/ Accessibility : • About 3 miles from Sunny Beach (5 min. by car), on a south-facing shoreline. It is about 20 minutes' drive from Bourgas airport and about 90 minutes from Varna airport. The capital, Sofia, is about 5 hours drive away. Both Burgas and Varna airports are served by a large number of flights in the season- beginning May end of October. • There is regular bus transport from Nessebar and Bourgas to St. Vlas, and plenty of private minibuses, route and ordinary taxis. There is also water transport to and from Nessebar and Bourgas to Sunny Beach. • The hotel has been and still remains an interesting opportunity built already to European Specifications ( since Block A was finished in 2002 and block B in 2004 ) it does answer fire and emergency evacuation prerequisites and will save all coming cost which can otherwise be incurred once Bulgaria enters the EU and has to comply with those standards. All finishing, surfaces, frames and fixtures and the installed service ramp, have been of high quality and will provide for long exploitation without any need for major refurbishment. Width of corridors allows for little investment and reconstruction in order to adjust part of the hotel base for disabled visitors should the new management decide to pursue the venue. Door and window frames – solid wood ( armored doors) or aluminum frame with double glazing, providing the necessary isolation both for the summer and possible winter exploitation. Heating/ Cooling system – Air conditioning, serviced maintenance. Single aggregates per room allowing for fluent adjustment with the fluctuating number of guests. The complex has installed 8 solar cell panels, which are used actively during the season for hot water, reducing significantly the electricity expenses. (Just as with all other systems and installations in the complex the solar panels are within area of service and maintenance of the original Greek manufacturer)

Building and Construction specifics • Main frames- brick • Outside and inside insulation • Building permission and legalization for two more floors to be build – block B) Fitness Center • A small but very well equipped fitness center offers round the clock services to the hotel guests. The equipment (included in the sale is new and with established service centers). Both fitness center, as well as the wellness areas, have been given for use by the guest against a charge adding to the profitability of the hotel, however future owners may decide to use a different approach renting both areas to specialized companies or individuals for better exploitation Spa Wellness Area • More Europeans travel out of the country for alternative (or lower priced) medical and aesthetic treatments. And since the spa and wellness industry has seen an enormous boom hotel owners are well aware that the trend is not a chancy occurrence and is here to stay.

Picture slides

Picture slides

• • •

• • •

• • • • •

Why Invest In Hotel Sunrise This is a rare and fantastic offer for the serious investor, a once in a life time opportunity to become the owner of a much sought after hotel complex with a panoramic sea view. Since the complex has been well in use over the last years the new owner will be purchasing not just a lucrative property but actually an established business, with customer base and profile among the tour operators and package holiday vendors (see App. III). Most of the risks and capital investments which would otherwise have had to be taken into consideration are substantially less in this case. The property allows for immediate and uninterrupted exploitation on purchase and it facilitates the buyer with the availability of an experienced management team and full service crew. The excellently planned and carried out construction and furbishing of the site allows for unproblematic entry into the European Union without additional and often very costly transformation to fit into the new building, safety and exploitation standards of the Union. All of the present facilities – kitchen, restaurant, wellness and fitness centers, pools, and playing grounds have already passed the scrutiny and requirements of the respective Health and hazard, sanitation etc. specifications thus letting the new owner to avoid the lengthy process of applying for permits, respective inspections etc. The site benefits from its inclusion in the main sewage system, since for some of the properties in the area, the only working model is a septic tank. As already mentioned current prices of properties in the area including hotel Sunrise have not taken into account the appreciation resulting from improved infrastructure, the completion of the Marina and a new five star hotel as well as the first planned Golf course (in the vicinity of Kableshkovo). Since the site has only been in exploitation for a couple of years and both materials and furniture used were of very good quality it will require little investments in maintenance and avoid the costly total renovation often required when purchasing ready hotels. And last but certainly not least, upon commencement of planning and development of the construction of block B, design and the respective permissions granted have been for two more floors, allowing the enlargement of the complex at any point without any delays or bureaucratic formalities. Since Quite a few of the currently purchased properties in Bulgaria are done for pure speculative aim, catching the lull before the new tourist season ( by. May 2006) in order to put them immediately on the market for resale the last feature makes Hotel Sunrise only more lucrative regardless of the strategy behind the purchase.

Why Bulgaria
Recreation-related enterprises are becoming an increasingly important industry sector. Increased leisure time and discretionary, disposable income; greater mobility; and the social thrust toward relaxation, leisure and satisfying personal wants are creating exciting, new recreation opportunities that did not exist a decade ago. Despite the shake up of the industry following 9/11 it has quickly recovered and looks to an even more profitable future. Yet, it has remained indisputable that within any trend of an industry there are pockets of undiscovered opportunities or spaces offering a bigger reward for the shrewd entrepreneur. Whereas some two decades ago such offers in real estate and hotel industry were to be found in Spain, the last few years have seen one area firmly establish itself on the map of international tourism- the Balkans and Bulgaria in particular. Offering unparalleled advantages of magnificent scenery and giving nature, with a relative lower cost and yet excellent service the country quickly became one of the new ‘pets’ of all international tourist fairs. Advantages of the EU entry • The expected EU entry will naturally bring a range of benefits for the hotel owners: from using direct funds where applicable for further reconstruction of the hotel(s), to • the ability to profit directly from programs of the EU commissions- subsidized programs for seniors, youth organizations etc. • For the micro- region of Burgas and the adjacent resorts it will almost immediately translate into permanent openings of flights and the year round exploitation of Airport Burgas which will allow for increased exploitation of the hotel facilities, since • especially in the severe winter weather of North Europe more and more people look for a short trip to places with milder climate.

• • • • • • • • • • • •

With or without the active participation of current government the infrastructure of the country will automatically be upgraded since this is one of the prerogatives of the Union and it is important to understand that all current estimates and property evaluations are made on the base of the current infrastructure, and with the current regime of tourist exploitation – from beginning of May to the end of October, working parallel with the opening and closing of the respective airports. And although prices of goods and service will increase to reflect the new position of the country it will still remain well bellow the standards of the most developed European countries and thus remaining a favorite destination as a tourist or second home residence. Presently these have been the most important key factors used by foreign buyers to invest safely in the national real estate market. From two to three hours away from most major European airports. Member of Nato-A recognition of the country’s past efforts as well as a guarantee for its safe future. Joining EU in 2007-Persistence in complying with the commission’s requirements and recent developments indicate strongly entry January 2007. Bulgaria's Political Stability-Political and economic reforms are in progress in a favourable political climate. Lower Cost of Living-Considerably cheaper expenses for your everyday cost of living compared to Spain, Greece or Portugal establishing it as a favorite destination among holiday goers, retirees, etc. Low Prices of Immobile Property: Full purchase of a property in Bulgaria will amount to the deposit only for a property in Spain. What is more all properties in the country are freehold. Healthy Climate-More than 300 sunny days per year. Average yearly temperature 10.5°C. Average temperature from April through September 23°C. (St Vlas is considered as spa for people with respiratory problems because of the combination of the healthy sea and mountain air.) Life-Giving Waters-Bulgaria’s 550 mineral springs cure bronchial asthma and various conditions of the respiratory tract, urological and liver problems, cardiac and vascular diseases, disturbances of the nervous and the reproductive systems, etc. Extremely Varied Landscape-Warm, sunny beaches and cool alpine mountains – just several hours’ drive from each other. Stable Currency :The leva has already been pegged to the Euro avoiding any instabilities and fluctuations

Why Invest In St. Vlas
• • • • • • • Convenient location – 25 minutes drive from Burgas airport – 10 minutes drive from the ancient town of Nessebar – 5 minutes drive from Sunny Beach resort Established family resort, with a relaxing atmosphere. Proximity to Sunny Beach facilities (accessible by a short taxi ride or even a leisurely stroll along the sweeping, sandy bay). Local sandy beach (stretching for 1 km with average width of 16 meters). Developed and yet growing infrastructure (a variety of restaurants, local shops internet cafes, sport facilities, new world class marina, etc). St Vlas can never become over developed as it rests between the majestic Stara Planina mountain range and the beautiful Black Sea coast. A beautiful combination of sea and mountain climate, considered favourable for those suffering from respiratory problems. Sveti Vlas is a beautiful coastal village of approx. 3000 inhabitants, situated just 5 kilometers north of Sunny Beach and 9 kilometers from Nessebar. It benefits from the combination of beautiful seaside at the foot of the Balkan mountain range. It has been developed into a modern beach destination during the recent years, with brand new hotels and tourist infrastructure. This makes it a preferred destination for holidaymakers, who want to enjoy the spectacular views of the mountain while having fun on the beach. The natural conditions- mountain, forest, sea and southern exposure of the mountain slopes, are extremely healthy and appropriate for a full relaxation. The beaches of St Vlas are three with a total length of 1, 5 kilometers- the central beach is the longest one, south of it is the small “Camping” beach and the third one is the beach nearby the new yacht port Marina.

Why invest in st.vlas
• The town is also famous for its brand new and beautiful yacht port, which is being developed close to the water base of the local fishermen. Marina yacht port offers everything needed for a yacht lover to enjoy unforgettable summer holiday. People can hire and even buy yachts there. With a professional team of consultants the marina will provide great service and a real value of money. The marina will have a promenade, 304 berths and a selection of boutiques and restaurants. A significant benefit of the marina is our clients prospective capital appreciation, as the finished marina will undoubtedly add value to properties in this, already one of the most exclusive areas on the whole of the Black Sea coast. This stunning development will undoubtedly reflect on future property prices and further enhance the exclusivity that Vlas already entertains. A regular ferry service across the bay to Nessebar are also planned to take advantage of the marina. Sv. Vlas is a fast growing where private enterprise is in full swing with a rash of small hotels, new holiday apartments, holiday villas, and restaurants springing up all over town. Visitors can also avail themselves of the varied amenities and busy nightlife at Sunny Beach, just 5 kilometers down the road. Sv. Vlas is a more quiet resort that will mostly suit families with kids or people who wish to escape from the noisy resorts.