St Helena Residence is an exclusive development of 26 high quality apartments raging from studios of 49 sq.m to to two-bedroom apartments of 115 sq.m and a penthouse of 173 sq.m /inclusive of common parts/. The residence is in a very favorable location, being on the seaward side of the coast road just a short walk from the beachfront. It is on the doorstep of one of Bulgaria’s prime resort, St Constantine and Elena and the King’s summer palace is a close neighbor.  It is situated just 7 km north of Varna city center and 9 km south of the well-known Golden Sands resort. The residents of this building will be able away from the crowds yet inly a few minutes walk from all the facilities of an established resort area.

Terms of Payment:
Reservation  - 1500 Euro;
60% - Preliminary Contract Signing;
30% - Finishing of the roof and external finishes;
10% - Protocol-16 by completion of the building;

Maintenance Fee – 10 Euro per sq.m;
Completion Date – End of 2007;

Level of completion:
COMMON AREAS
Lift  - 4 person lift with alarm and panic button. In accordance with EU standard.
Stairs & hallways – Quality ceramic tiles to stairs and corridor floors, aluminium or stainless steel handrails.
Walls & ceilings – painted in neutral colors emulsion.

EXTERNALS
Entrance Doors – Automatic self-closing steel pedestrian gates;
Remote controlled entrance into basement with 12 perking cells. 5 parking lots at ground level.
Garage & Parking & Retaining walls – waterproofed reinforced concrete;
Roofs – Waterproof and thermal insulation with quality roofs clay tiles;
Walls – Colored bi-component waterproof render on 30 mm extruded polystyrene insulation on hollow brick construction to upper parts. Quality tile façade to lower parts.
Windows – 6mm/5mm/4mm double low-E glazing in steel reinforced PVC framing
structure.
Balconies – Pretreated anti-corrosion /or powder coated/ steel railings painted with marine grade paint. Non-slip premium tiles to floors.
Main Entrances – glazed entrance doors with intercom entry system.

The luxury apartments will be finished to three levels:
I – Standard Finish:
· Entrance and internal doors fully fitted;
· UPVC windows and balcony doors fully fitted;
· Living rooms, bedrooms and hallways fitted with laminate flooring;
· Bathroom floors and walls fully tiled, toilet and wash hand basin fitted, open shower with mixer on the wall, extractor fitted;
· Cloakroom floor fully tiled, toilet and wash hand basin fitted, wall locally tiled above wash hand basin;
· Kitchen floor fully tiled but no storage units or appliances provided;
· Balcony floor fully tiled;
· Walls and ceilings emulsion painted;
· Hot water cylinder with direct electric heating fitted;
· Entry phone fitted;
· Fuse box, switches and sockets fully fitted;
· Basic ceiling lighting;
· Telephone and TV antenna cables fitted;

II – Optional Extras Package 1:
· Kitchen fully fitted with wall and base units, oven, hob, extractor, fridge & freezer, washing machine, dish-washer;
· Bathroom fitted with bathtub or shower tray with enclosure, inset wash hand basin fitted with a vanity unit below and worktop above. Mirror, shaver lighting and shaver socket fitted;
· Cloakroom fitted with mirrored cabinet above wash hand basin;
· Electric wall heaters installed every room /2 in living rooms/;
· Air-conditioning fitted in every room;
· Ceiling light fittings fitted;

III – Optional Extras Package 2:
· Bedrooms fully furnished with beds, wardrobes, bedside cabinets, dressing table with mirror and chest of drawers;
· Living room fully furnished with sofas, coffee table, dining table and chairs;

ABOUT VARNA
    Varna, Bulgaria’s largest city on the Black Sea coast has developed into a thriving and vibrant urban resort. It is an atmospheric city on a bay hemmed in by hills that offer scenic views. Varna boasts the largest and most impressive museum in Bulgaria, a marvellous sea side park, numerous art galleries and several summer festivals.

    More then two million tourists visited Varna and its surrounding areas in 2005 with expectation of increasing numbers in the future. With Bulgaria expecting to join the EU shortly more than 50 Western European companies established themselves in the city in 2005 and this trend is set to continue. Increasing economic activity has led to migration of labour to the area, so much so that the population of Varna increased from 250 000 in 1997 to 425 000 in 2005.  Тhe harbour doubled its throughput in 2005 as compared with 2004.

    Increasing population has led to increasing rental demand. As a result property prices have grown at between 15 to 25% each year, over the last five years. Yet Bulgarian property is still far cheaper then other EU member countries. For example, in comparable Spanish resort areas property prices are now in the region of 10 000 Euros/m2 where as the highest prices in the more exclusive Bulgarian resorts where at 2 400 Euros/m2 in August 2006. The general expectation is that this price difference will narrow when Bulgaria enters the EU.

    When it comes to reselling it is always easier to sell property boasting a good location and St Constantine is one of the most sought after, commanding some of the highest values in Bulgaria. The Beautiful Bulgarian project, funded by EU, has led to the renovation of over 100 cites in and around Varna of historic importance or of natural beauty. As a result of these initiatives Varna and its resorts should not become overdeveloped as some other areas in the Black Sea coast. This should aid in enhancing the value of the investment.


    ACCESSIBILITY - Bus 409 – a frequent service from the airport via Varna city centre to St Helena Residence (first stop after King’s Summer Palace (Evsinograd)) – continues on to Golden Sands. Bus 8 – a frequent service from Varna railway station to St Constantine and St Helena resort, via the city centre. Taxi from the airport to St Helena Residence takes about 20 minutes.