The investment project is ATLANTIC PALACE Multifunctional Hotel Complex with Luxury Apartments with a total area of 20 000 sq.m, Four-star category. The land on which the complex is being constructed is Zoned Property LIV 771, as per the plan of Resort Complex Chaika – town of Varna, the area of this land is 10000 sq.m., owned by the investor of the project BRAVERS Single-Member LTD, represented by Eng. Nikola Bakalski.
The aim of the project is the building of modern complex, designed to combine a variety of functions related to recreation, tourism and business.
The complex consists of three independent six-storied bodies, interconnected by means of a covered connection on the level of basement and ground floor. BUILDING 1 - a hotel /80 double rooms and 10 apartments – four-star category, with unfolded built-up area of 7660 sq.m./ and BUILDING 2 and BUILDING 3 – a residential section /116 apartments, one or two bedrooms, with an area of 70 to 110 sq.m. / with unfolded built-up area of BUILDING 2 being 2 520 sq.m. and that of BUILDING 3 – 8450 sq.m.. The total area of the plot, where the buildings are situated is 10 000sq.m. and they have a common infrastructure. The investor’s idea is a full range of services provided by the hotel, which will be used by the owners. This will be a guarantee for higher standard of living and for higher degree of return of the investment made by the housings’ owners, because the opportunity for profitability from hotel area, and not from residential area is provided.
One of the strong features of the project which contributes to the significant reduction of the operational expenses and also improves comfort, is the air-conditioning of the complex, which has been designed to be performed in accordance with a cutting-edge project by the Japanese company "SANYO". The progect comprises heating and cooling thermal pumps, operating with a natural gas, with which the complex will be supplied by means of a central network.
It’s important to be mentioned that all the construction work will be made by highest quality materials – a guarantee for long and successful utilization.
The return of investment is possible by letting of the property and by occupancy ensuring, and the market figure for 2007 with regards to the return of investment in the segment “letting of holiday hotel-type housings” is 10%. The increase of prices on account of Bulgaria’s Accession to the European Union and the macroeconomic environment precondition good profitability from the potential secondary market.
The owners of apartments are provided with the opportunity to have their property managed by subsidiary against payment of an annual maintenance fee and a contractual dividend in case the property is leased.
The owners of holiday housings within ATLANTIC PALACE hotel complex will have the option of keeping up with the entire management process of their property via the Internet. This is possible thanks to a specially developed software, which provides information about the income generated from the renting of the apartment and the utilities costs necessary for its maintenace.
*The access to the apartments will be possible by means of magnetic cards.
The services provided within the complex, which is currently under construction, will be the following:
- Rehabilitation and recreation services
- SPA centre /supply with medicinal mineral water/
- indoor swimming pool
- Sauna
- Vapourbath
- Massage parlour
- Fitness centre
- Outdoor swimming pool
- Several restaurants offering national and European cuisine
- Conference halls for seminars
- Open-air kindergarten
- Controlled access to the residential section of the complex
- Sport facilities
- Wine-cellar where you can taste the best Bulgarian wines
- Commercial establishments – shops, pharmacy, etc.
- Bank office
- Medical services, diagnostics, dental treatment, etc.
- Wine therapy
- Herbal therapy with the best and the rarest tea herbs: Golden root, Mursalski tea
