Overseas - September, 2005

An exclusive new shared freehold development near one of the world’s most fascinating cities.

British developer Amazing Morocco has launched Bab Adrar d’Atlas (meaning ‘gateway to the Atlas’), the first-ever shared freehold development in Marrakech. Situated 20 minutes from the vibrant city and with views of the spectacular High Atlas Mountains, Bab Adrar d’Atlas is a group of platinum-standard luxury villas with on-site leisure facilities.

Marrakech, voted one of the top ten worldwide holiday destinations by Condé Nast Traveller, is renowned for its colourful markets, friendly Berber people and vibrant nightlife. More recently it has become quite a celebrity haunt, with Will Smith, Yves Saint Laurent, Jean Paul Gautier, Richard Branson, Ridley Scott and others having bought holiday homes in the city or the surrounding countryside.
Millions of pounds are being poured into the country’s infrastructure by Morocco’s King Mohammed and the tourist board has set an objective to double the number of tourists in the next five years to ten million – a similar situation to the dynamic property climate in Dubai. More flights are available from more UK airports and Marrakech is ripe for a renaissance.

Bab Adrar d’Atlas is an exclusive development of ten beautifully crafted properties, ranging in size from 400 to 677 square metres. Designed by top Moroccan architect Karim el Achak, the two- to four-bedroom villas combine the best of traditional local style and modern European comfort. Each home comes fully staffed with a chef, housekeeper and maid and enjoys a private swimming pool, garden terrace and landscaped gardens.
The on-site facilities include a spa with a Hammam therapeutic steam room, tennis court and golf putting green. The development is situated near three championship golf courses and within easy access to mountains, beach and desert. Marrakech and the international airport are both just 20 minutes drive away.

The properties are being offered on the basis of a one-seventh share of the freehold. Owners will have a titled share of the property and will be able to enjoy free occupancy for six weeks per year (four weeks peak and two off-peak), according to a rotating priority system. This means that each owner will regularly have first call on peak season occupancy, such as Christmas, Easter, New Year and spring holidays. An annual fee covers all property management, thus taking away the stresses and costs of full ownership.

Amazing Morocco’s Director Simon Clothier says, ‘Not everyone wants to commit capital to buying a luxury property like this, or has the holiday time to spend there to justify outright purchase. At Bab Adrar d’Atlas you buy only what you intend to use and at a fraction of the cost of owning outright. And because you own part of the freehold in a buoyant property like Marrakech, your investment is highly likely to increase in value.’

Bab Adrar d’Atlas offers breathtaking views of the mountains as well as extensive olive groves and orange trees. Construction has started and the first phase of homes should be finished and ready for occupancy in spring 2006. Shared freehold prices range from £85,000 for a fully furnished two-bedroom luxury villa (400 square metres) to £110,000 for a four-bedroom spacious villa (677 square metres). The villas can also be bought outright, either furnished or unfurnished, at prices ranging from £445,000 to £595,000. Call Premier Resorts on 020 8940 9406.

Winter and summer, buyers are flocking.

Bulgaria is popular with both snow bunnies and sun worshippers, and those in the market for an overseas investment will find themselves spoilt for choice when it comes to resort property in this up-and-coming country.

Michael Johns, director of The Right Move Abroad says, ‘The level of interest in Bulgaria has been far more than we had ever imagined. Investment is the key to this new interest. Overseas property is now open to everyone. With traditional areas such as Spain clearly not top of the investment ladder anymore, this has led to new countries such as Bulgaria reaping the rewards.’
For warm-weather holidays, it is hard to beat Vega Village in St Vlas, which offers very reasonably priced investment properties close to Sunny Beach. Available through The Right Move Abroad, these properties are minutes from the beach and involve only a 30-minute transfer from Bourgas airport.
This new development is set on an area covering 12,000 square metres and offers peace and tranquillity, with no other construction work taking place on either side. It provides direct access on to the sandy beach and is close to all local amenities.

Vega Village consists of three complexes as separate buildings and brings to the market studios as well as one- and two-bedroom apartments. The apartments are spacious and come fully furnished, including satellite and phone connections. The developers offer a number of extras for those buyers who want to personalise their property. The complex also offers two swimming pools, spa centre, restaurant, bar, parking and BBQ area.
Prices at Vega Village start at £45,080 rising up to £72,000 for a two-bedroom apartment. Call 0208 453 7514 or visit therightmoveabroad.com.

For those with more winter pursuits in mind, Bulgaria is also famous for its skiing. And Assetz has launched two developments off-plan to investors in the prime Bulgarian ski resorts of Bansko and Borovets. Thorough research has been carried out into the background of the developers to ensure they are reputable and credible. Ten apartments are for sale in Borovets which will complete in January 2006, priced from €76,961 for a studio (approximately £52,236) and €78,897 (£53,524) for a one-bedroom apartment. A guaranteed rental scheme is available offering a yield of 9 per cent. Eleven apartments are for sale in Bansko, due to complete in March 2007, priced from €58,353 for a one-bedroom apartment, with ‘ski to your door’ access.

Assetz is a group of well-known and successful property investment companies offering selected UK and overseas property, as well as education, buying assistance, finance and after-sales service, to those buying as an investment, holiday home or both. Contact them on 0161 456 4000 or visit assetz.co.uk.
Emerging Real Estate offers Bulgarian property in both coastal and mountain areas. On the coast, Nessebar Fort Club is a complex of 200 apartments located on the Black Sea Coast at Sunny Beach, close to the water park of Aqua Paradis. Prices start at €735 per square metre. Call 0113 389 9570.

 Buena Vista Village is located near the village of St Vlas, just 200m from the sea. One- and two-bedroom apartments are for sale at prices ranging from €73,000 to €167,000. Call 0113 389 9570. Marvel Residence is an exclusive development of 28 apartments on the outskirts of central Varna. The properties range in size from 38 to 180 square metres and are located on the road to the Golden Sands Resort next to the coast. One-bedroom apartments start at €61,000.

Ski-wise, the St John Ski and Wellness Centre offers apartments located on a hill top in Bansko, the newest of the Bulgarian ski resorts. Prices range from €42,000 to €162,000. And Orpheus Valley is a complex of 80 luxury apartments a few minutes’ walk from the main Ski lift in Pamporovo. Studio, one- and two-bedroom apartments are available from €35,000. For more information about any of these properties call 0113 389 9570 or visit emergingrealestate.com.