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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Kavarna Bay: Property Investment Potential
The Kavarna Bay Resort offers an enviable pricing structure exclusive to Obelisk investor clients at an average of 26% below market value, in comparison to Colliers International and a comparative basket of developments, presenting an immediate return on investment from the moment of purchase. There is a strategy for all types of investment; based upon a capital growth estimate of 12%, a low capital leverage approach that relies on capital appreciation alone, would earn a return on investment of 60% over 2 years. A high capital long-term yield scenario including a 60% mortgage, where the estimated 6% rental yields will earn a supplementary income to the investor, would earn an outstanding 172% return on investment over a 5 year period.
Short-Term Hold Scenario:
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The short-term plan is suitable for those investors looking to buy off-plan under market value with a quick turn around to sell immediately after completion. This scenario is ideal for the cash purchaser, wanting a low capital approach to the market, not leveraged through loan to value mortgage products.
Mid-Term Hold Scenario:
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The mid-term plan is suitable for those investors looking to generate income as well as capital growth over the longer term, and is applicable to the leverage-based investor.
Mortgage Options
The mid-term hold scenario also comes with a number of mortgage options; a 50% mortgage option which covers the final payment of 50% of the purchase price, and a 70% mortgage option which covers the final payment of 50% plus allows for a 20% cash back. An average 60% mortgage option is also presented.
- Mid-Term Hold Scenario with 50% mortgage option
- Mid-Term Hold Scenario with 60% mortgage option
- Mid-Term Hold Scenario with 70% mortgage option
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Location
Kavarna Bay Resort's strategic location presents a unique investment opportunity of a luxury frontline complex, benefiting from a geographical rarity in the Bulgarian beach front market - a spectacular south orientation - providing a privileged all-day sun perspective. The luxurious, spacious properties at the Kavarna Bay Resort have the unique advantage of un-paralleled views and extensive on-site facilities, designed and packaged together by an internationally renowned award winning architect, Atanas Panov, with an unerring commitment to quality, attribute to the exclusivity that is the Kavarna Bay Resort.
Beachfront properties will always demand premium prices, not only for the lifestyle value and stunning views, they represent fantastic investment potential possessing high resale and rental demand due to the sought-after location, and provide the purchaser with the assurance that nothing will be built in front of their property. Properties in prime locations, particularly frontline beach, have inherent value difficult to lose, and equally increase in value at a rate disproportionate to standard market averages.
Kavarna boasts over 40 kilometres of coastline with more than 74,000 square meters of beach, and only 12 kilometres from the picturesque Kaliakra cape, a preserved National Park. Significant inward investment is currently being made into the area, with approved plans for a new modern marina. Kavarna also benefits from reliable and extensive transport networks with Bulgaria's second largest airport, Varna International, only 30 minutes away which connects with over 101 destinations across 35 countries. The airport recently secured significant investment of €250 million from Lufthanse FRAPORT AG, in order to expand facilities to accommodate the increased passenger traffic.
Security of Investment
The Kavarna Bay Resort project is ready to begin construction works and has all the building licences and guarantees in place. Leading independent law firm, Manzanares International Lawyers, has completed a comprehensive due diligence to ensure full legality and a clear buying process. Manzanares International Lawyers, a law firm that has registrations with the European Law Society and Council of Bars, and is also authorised to provide legal advice in the UK through the UK Law Society Registration.
Obelisk has also arranged for the option of mortgage facilities for clients purchasing in the Kavarna Bay Resort project. The pre-arranged back-end facility ensures a low capital leveraged approach for the multi-unit purchaser.
Exit Strategy
The area of Kavarna is witnessing extensive growth and development in the luxury sector; 3 PGA golf courses, two of which are currently under construction, a new marina and yacht club, and a €15 million investment towards the development of Bulgaria's FIA approved Formula 1 racing complex. This combined with the accompanying infrastructure improvements is sure to stimulate substantial growth in demand for quality homes in the area. The exceptional quality and unique characteristics of the Kavarna Bay Resort - front line beach, south orientation - presents a profitable exit strategy for all investment scenarios; the resort has excellent rental potential due to the outstanding on site facilities and standards, and the high quality specification meets with the increasing demand for luxury property purchasers.
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