NWPL BULGARIA      

Royal Cove Golf & Beach Club is a gated holiday complex located in the heart of Kavarna beach resort, just 150 metres from the sea. Enjoying a contemporary semi-circular design, Royal Cove offers
a carefully balanced mix of 47 1-bed and
2-bed apartments housed over 6 floors, together with an outdoor swimming pool,
a garden, parking lots, a restaurant with coffee bar and an integrated Spa & Fitness centre with sauna, gymnasium, jacuzzi, spa and massage. The position and lay-out of the building ensures that each apartment has a sea view.

The total built area of Royal Cove is approximately 4500 square metres and the complex is being developed by a team of highly experienced architects, designers and builders in accordance with the latest construction technologies. The building works and materials will meet all current specifications and standards for the highest quality of construction, together with embedded style and comfort as the key design criteria.

Investment Overview:
Kavarna has grown in stature and popularity over recent years and there is now a high level of controlled development taking place to accommodate the rising number of young families and couples visiting the resort every year. Apart from offering the ideal base for owners and tourists seeking accommodation with immediate access to the beach and all of the associated resort facilities, Royal Cove benefits from its proximity to the three championship level golf courses currently being constructed in the area and to a number of local port facilities, a prerequisite for the development of yacht tourism. In addition, the Kaliakra Cape wildlife and archaeological reserve is located only 15km to the north of Kavarna and Balchik, home of the most beautiful and oldest botanical gardens in Bulgaria, is just 20km to the south. Royal Cove also has an extremely high potential for corporate activities such as company seminars and meetings, training events and team-building. This will provide high occupancy out of the active summer season and bring greater rental income for owners. The expected investment return from rental is around 5% during the first year and up to 8-10 % from the second year and onwards, when Royal Cove will be firmly established as a destination of choice for the discerning visitor.

Royal Cove Services and Amenities:
• 24-hour reception & room service
• 24-hour security
• Tourist transportation for sight-seeing and Airport transfers to Varna
• Wi-Fi Internet throughout the whole complex
• Car hire facilities
• Parking lots (available for sale)
• Beautiful garden with lighting and pathways
• Laundry inside the building, working 7 days a week
• Royal Cove Restaurant and Coffee bar
• Outdoor swimming pool for children and adults
• Spa and sports centre, Gymnasium, Sauna, Jacuzzi, Massage

Development And apartment specification:
• Highest quality building materials
• PVC double glazing with internal sealed units
• Plasterboard, latex painted walls and ceilings
• External insulation on all walls for maximum protection and efficiency
• Solid front door and internal doors of MDF
• Beautifully finished communal areas
• Bedrooms & Living rooms: highest quality laminated floors
• Kitchens: kitchen furnishing and appliances according to an individual project, approved by the client
• Shower and toilets: fully fitted with shower cabinet and all accessories, toilet bowl, wash-basin, and the highest quality and latest types of floor and wall tiles
• All apartments are fitted with air conditioners and equipped with fire alarms
• All apartments have cable TV with international channels installed and fast Internet connection by LAN or Wireless LAN

Completion date
The completion of Royal Cove Beach Club is scheduled for July 2007.

Why buy in Kavarna?
• Modern town with excellent facilities
• Good selection of modern shops and cafes, bars and restaurants.
• Summer concerts and events staged each year
• Excellent road links with Varna Airport
• Proximity to the three new golf courses
• Located in a scenic area with many places of interest nearby

Why choose Royal Cove Beach Club?
• Located in one of the fastest developing areas on the Black Sea coast - the coast line of the town of Kavarna
• The beach of Kavarna resort is just 150 metres from the complex
• Impressive design and architecture with a contemporary look and style
• An excellent price policy with possibility to choose the best payment plan

The Developer
The Bulgarian company “An & Di” ltd. Was established in 1999 with its head office in the town of Kavarna. Its main business is investments, building construction and real estates sales in the Bulgarian Black Sea coast region. The plots which the company possess cover an area of 450 decares in total. Projects for building vacation villages, hotel complexes, residential buildings and other developments will be realised within the territory of this area. All developments of the company are particularly attractive due to their proximity to the sea coast (50-200 m) and their amazing panoramic views to the sea.

The Building Company
The building processes will be accomplished by “Planex” holdings – one of the biggest and most highly respected companies in this field. The concept of the company is: ”Optimal organization and management of the building process and high quality of the final product”. Planex was established in 1990 and became Planex Ltd. in 1993. Planex Holding Ltd., was established in 2002 for the purpose of including the full cycle of design and building up to the furnishing and equipping of the buildings. The completion of the production cycle - from original design to furnishing - ensures better co-ordination and implementation of the project. Planex is supported by highly qualified engineers and economists, experienced in the design, management and supervision of the building process ; and also in marketing , technical analysis, finance, accounting and economics. The company employs the latest software and hardware in the planning, design, execution, reporting and analysis of their building processes.

Furnishing
Along with the fully fitted kitchen, the furniture packages for rental apartments will include everything necessary for the apartment to be lived in and rented out to tourists:
• Beds, cupboards, dressing tables, bedside lighting
• Microwave, kettle, toaster
• Pots, pans, cutlery, crockery, kitchen implements
• Dining table and chairs
• Easy chairs and a sofa (which converts to a sofa bed)
• Linen, towels, bedding etc
• TV’s in each room, a HiFi system with CD and MP3 player
• Table lights
• And everything else needed to make the apartment ready to rent

A range of furniture packages is available starting from approximately 6000 EUR depending upon the selected furniture options and the size of the apartment

Maintenance
Each complex needs serious and thorough servicing and the maintenance of its common parts where quality and high standards are of key importance. East Management has a highly qualified team of administrative and technical staff combined with a well developed network of servicing and booking offices throughout the country.The experience and scale of the company allow it to offer full quality servicing of the facilities, the infrastructure, the common parts of the building and the individual apartments.

• 24 hour security of the whole area of the complex and the common parts of the buildings, as well as the parking spaces and garages
• Maintenance, painting and repair of the common areas of the building and the complex
• Repairs and maintenance of the roads and regulating of all alleys for cars, parking spaces and garage cells;
• Cleaning and maintenance of the common areas of the building – inner yard and swimming pool
• Maintenance and renewal of the green areas within the complex
• Maintenance of the electrical, clean water and sewage systems as well as all other instillations and facilities on the area of the complex;
• Organisation for the collection and payment of the expenses for water and electricity of the common parts;
• Rubbish collection etc.
The annual maintenance fee is 9 Euros/sq.m (incl. VAT).

Property Management
As part of East Management network Royal Cove Beach Club will have a first class property management service. The annual management fee of 400 Euros per year covers the following services:
• Snagging list for your property after completion (photos included). Co-ordination and arrangements with the developer, inspections, etc, until all problems are fixed.
• Management and maintenance of all relevant documentation.
• Organisation of any and all maintenance required at the apartment, inclusive of regular cleaning, change and laundry of linen, preparation of the apartment for rental, daily cleaning when the apartment is occupied by tourists, etc.
• Regular communication with you the owner in case of any unexpected event, and to produce at your request documentation for any and all expenses made on behalf of the property.
• Organisation and payment of any and all expenses relating to the property to third-party suppliers: eg: bills for power and water supply, cable TV, Internet subscription, cleaning and the general maintenance of the apartment, including repairs and renovation as required etc.
• Web access to the bookings made for your apartment by the tour operator, so you can see the availability for yourself, friends and family, or check your rental income.
• Organisation of the issue of any categorization papers, licenses or similar required by the law for the short-term or long-term rent of the property.
• Organisation and the payment of the annual property tax and waste collection fees (funds must be supplied by the apartment owner)
• Organisation, filling and submission to the tax office of the annual tax statement and payment of any and all tax due by the apartment owner for income relating to rental of the apartment.
• Marketing the property to tour operators and travel agencies for rental to their client base of tourists
• Reception desk services and dispatch, key services to incoming and outgoing tenants/visitors.
• Registration of the tenants as foreign citizens with the local police station as required by the law.
• Holding funds on behalf of the apartment owner, to be used against outgoings directly related to the apartment or common parts under the terms of the virtual freehold.
• Organisation, book-keeping and the storage and maintenance of all records and received invoices, payment receipts and other documents from third-party service providers, agents, local authorities and tax administration bodies etc.
• Representation of the apartment owner and protection of his/her rights and execution of his/her will before any and all third-party service providers, agents, local authorities, tax administration bodies and tenants etc.

Letting Management
Owners will be offered fixed rates per night for short-term rentals. All expenses for short-term lettings (electricity, water, cable TV, Internet) will be charged to the owner’s account. Long-term rents are subject to additional negotiation between the tenant and the apartment owner, which will be handled by us on your behalf. Usually for long term lettings all expenses are covered by the tenants. Our experience shows that short-term rental provides a higher rental income and we expect that Royal Cove apartments will bring maximum 5% rental return during the first year and approx. 8-10 % during the second and next years, after the complex gains a wider brand recognition.

Payment Options
Any apartment at Royal Cove can be reserved with 1000 euro deposit payable by bank transfer or credit card. The reservation deposit will be deducted from the first instalment.

Option 1
- 1000 euro - reservation fee (non refundable if you decide not to purchase)
- 15% at the stage of signing of the preliminary agreement - within 21 days after the reservation
- 85% at the stage of the final agreement and delivering the keys

Option 2 – 5 % discount
- 1000 euro reservation fee (non refundable if you decide not to purchase)
- 100% payment of the whole price within 21 days after the reservation

Prices and Availability
Constantly updated. Prices are final, inclusive of VAT. The full price paid is written in the title deeds. Additional costs for notary fees and stamp duty are approximately 3% - 3.5% on top of the purchase price. No other costs are involved!

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