This page provides important details relating to the development project.
Dwelling specification strategy
The fundamental idea was to concentrate on modern quality buildings which will appeal to foreign investors, but keeping strictly to the local style and architecture so as to blend harmoniously with the surroundings and village atmosphere. Individual homes on their own plot of land were thought to be the most appealing – no apartment blocks here. The project partners are in complete agreement on this question of aesthetics, taste and philosophical preference. We wanted to generate successful commercial development at Zornitsa, but to do it by adding value to the natural beauty, not by destroying it with inappropriate over-intensive development.
The size chosen for the main house type designs (Family Retreat and Luxury Retreat) is sufficiently comfortable for a large family, or two families to share for a short holiday. It is important from a marketing perspective to keep the price of each villa, including land, below €200,000 as there is considerably more volume of interest in this price range than at higher levels. Several examples of a second, smaller design (Country Villa) in the same style as the original, suitable for couples or a small family, have been included. These would have a target selling price of €99,000 and apart from catering to a wider variety of clients, would have the advantage of being able to be located on the smaller plots of land.
It's a low density development (by design, of course) with the houses only occupying 15-18% of the permissible area. This is attractive from an investment perspective. The utilisation coefficient ranges from 0.34 (Country Villa) to 0.54 (Luxury Retreat) and 0.75 for the Reception.
Extensive discussions with both the Mayor and Deputy Mayor of Chepelare reveal that this is exactly the type of development that they want to see for the mountain villages, and Zornitsa in particular. In short, the local authorities are enthusiastic and supportive of the Project.^ Top
The Project consists of 21 individual Villas and a reception/gym/tavern building. The land is just over 9000 m2. Each building has its own individual plot, as does the reception. The total build area of the houses and reception building is 3357 m2.
Country VillaType I
Plot (Average) 280 m2
Footprint 46 m2
Build area 96 m2
|There are 8 Country Villa "Type I" houses at 96 m2; these are the ones designed to sell at €99,000. They have open plan lounge/dining/kitchen downstairs, plus a toilet/bathroom, and two bedrooms upstairs, a double and a twin with one shared bathroom.|
Family RetreatType II
Plot (Average) 340 m2
Footprint 53 m2
Build area 158 m2
|There are 7 Family Retreat "Type II" houses which are 158 m2; these have a separate basement with a boiler room and woodstore/ski drying room. The ground floor is again open plan, lounge/dining/kitchen with separate bathroom/toilet. (All the houses are designed so the lounge will have a fold out couch where another couple, or some kids, can sleep). There's a spacious balcony on this floor of these houses for outdoor dining, overlooking Mechi Chal. Upstairs again two bedrooms, but as well as the main bathroom, the double bedroom has an ensuite. So these houses could easily have three families stay over, there's three bathrooms in total. The bedrooms share a balcony with a spectacular view.|
Luxury RetreatType III
Plot (Average) 350 m2
Footprint 66 m2
Build area 191 m2
|Finally there are 6 Luxury Retreat "Type III" houses. These are 191 m2, have a garage in the basement (if they are situated above the road, games room if below) as well as boiler room and fuel store/ski drying room. They have a spacious open plan lounge/dining area and kitchen on the ground floor, and dining balcony with stunning views, and have a separate toilet/bathroom. Upstairs are two very large bedrooms, sharing a balcony, and a huge bathroom with corner bath and jacuzzi.|
ReceptionPlot 448 m2
Level 1 209 m2
Level 2 128 m2
Build area 337 m2
Density (non green area) 46%
|The Reception building is 337 m2; it has a small Tavern and storages downstairs, a barbeque outside and upstairs a reception, sauna, sunbed room, showers and a gym with a full size panoramic window looking out to Mechi Chal.|
Legal and Financial structure
The Project is owned and managed by Zornitsa Mountain Village Ltd, a company registered in the local administrative centre of Smolyan, and formed specifically for the purpose. The sole shareholders are GPT Village Ltd and Kintyre Balkan Trading Ltd (KBT), the companies which owned the land upon which the development is situated.
GPT Village is owned by Bulgarian citizens currently resident in Italy, and managed by Georgi Pavlov who is a noted violin expert in his adopted country. KBT is owned and managed by expatriate Australian businessman Mike Marsh and his wife. Mike is a member of the Australian Institute of Company Directors, a dual UK/Australian citizen, and Director of five companies in two countries. Currently resident in Chepelare, Mike is also the manager of Zornitsa Mountain Village Ltd.
Robust legal arrangements are in place covering the ownership of the land and projects (the development and the access road) so there is no issue over security of Title. The project already has full building approval.
Immediately after the final investment package is taken up, share allocation will take place and construction will start.^ Top