Conventot LTD started the design of a luxury multifunctional building located in Lozenets on “St. Naum Blvd”. Its position is in an immediate neighborhood of one of the most attractive green areas of the city*. Seven levels are planned; the first three are intended to host luxury boutiques, coffee shops/restaurants and bank office. Apartments, studios, offices, etc. (depending on the client’s choice), that will all reveal an incredible view to Sofia, are envisaged to occupy the rest four levels. The project also includes an underground parking lot (20 parking spaces) and an elevator platform. The construction works are expected to start in January 2009.
* Please check the "Documents" section for a detailed map.
Technical Parameters.
1. Floorage Area – 350 sq. m.
2. Total Floorage Area – 3469 sq. m.
- third underground level (following analysis) – 600 sq. m.
- second underground level – 600 sq. m.
- basement /trade areas/ - 400 sq. m.
- ground floor /shops, show-rooms/ - 350 sq. m.
- 1 fl. /restaurant with terrace/ - 350 sq. m.
- 2 fl. /offices/ - 273 sq. m.
- 3 fl /studios/ - 273 sq. m.
- 4 fl./offices/ - 273 sq. m.
- 5, 6 fl. /studios/ - 350 sq. m.
Region
The history of Sofia embraces thousands years. The first name of the city – Serdika – was given by the Thracian tribe Serdi, who had inhabited town’s territory in 7 century B.C. Later Byzantium citizens gave it the name of Triaditza and the Slavs – Sredetz. The name of Sofia dates since 14th century, when the town has been called after the basilica Saint Sofia (in Greek “sofia” means wisdom). In 1879 the town became Bulgaria’s capital.
Sofia is rich of archaeological findings. A great part of the previous Serdika is located beneath central modern buildings. Saint George rotunda is located behind the Presidency, and antique basilicas are hidden beneath the National historical museum. Roman thermal baths are the predecessor of the Sofia mineral baths and the Roman residence, decorated by fine mosaics, is preserved beneath Rila hotel.
Some of the modern landmarks of the city are: Alexandar Nevsky church – a masterpiece of icons, mural paintings and frescoes, constructed in the course of 30 years by masters from 6 states, the National palace of culture – the greatest Congress Centre on the Balkans, Sofia university and a lot of others.
From ancient times the city is prominent also with its mineral springs both in its real centre and in the neighbourhoods: Knyazhevo, Gorna Banya, Bankya, Ovcha Kupel, and Ivanyane.
Today Sofia residents amount to 1 250 000.
More info at: http://www.sofia.bg
Information for buy
Prices
1. Parking Space /35-40 sp./ - 15 000 Euro/sp.
2. Trade Areas Lighted Basement– 2 000 Euro/sq. m.
3. Ground Floor – 5 000 Euro/sq. m.
4. Restaurant with Terrace – 3 000 Euro/sq. m.
5. Offices and Studios – 2 500 Euro/sq. m.
TOTAL PRICE OF THE BUILDING: 6 770 000 Euro.
High quality construction works (modern façade, structure cables, central heating, air
conditioning, porter room) are included in the price
Market Tendencies – “Renting the Properties” Scenario
1. Parking Lot:
Parking Space:
- 1.5 Euro/hour x 10 working hours x 22 working days in a month = 330
Euro/month.
- 24 hour and weekend subscription = 70 Euro/month;
- Additional Service /car wash, auto cosmetics, etc./
Total: 400 Euro/parking space
40 parking spaces x 400 Euro = 16 000 Euro/month
Expenses: 2500-3000 Euro
Profit: 13 000-13 500 Åâðî
Investment Payback Term: 4 years.
2. Trade Areas Lighted Basement
Alternatives: beauty parlour, solar studio, gym, hairdresser's ñàëîí, office, shop.
Rent: 13-15 Åâðî/êâ.ì.
Investment Payback Term: 11-12 years.
3. Ground Floor
Alternatives: shops, show room, bank/insurance company offices, etc.
Rent: 40-50 Euro/sq. m.
Investment Payback Term: 8-10 years.
4. Restaurant with Terrace.
A restaurant in an office building presents a great opportunity for the realization of
higher daily turnovers (lunch menus, club meetings, celebrations and s.o.). The
parking space that is always available is another good advantage.
Rent: 8 000-10 000 Euro/sq. m.
Investment Payback Term: 10 ã.
5. Offices and Studios.
Rent: 18-20 Euro/sq. m.
Investment Payback Term: 10-11 ã.
V. Market Tendencies – “Resale of the Properties” Scenario
Taking into account the exceptional location of the building and its luxury, modern
construction a future resale of the property (after its finalization) could result in an
increase of 30-50% of the price or a profit of Euro 1 500 000 – 3 400 000 in 2-3 year
period.
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