Sun, Nov 22 2009

More than 70 hotels in Varna up for sale - report

Mon, Jul 13 2009 13:27 CET byNick Iliev 1612 Views
More than 70 hotels in Varna and the surrounding resorts have been put for sale, Darik Radio said on July 13. Most of the hotels put of for sale are operational, but some are still under or nearing construction. Majority of the offers are for small-scale family hotels, but even four-star establishments are up for grabs.

The most expensive property, appraised at 15 million euro, is an apartment complex in the Zlatni Pyassutsi (Golden Sands) resort, which comes equipped with a spa centre, restaurants, coffee shops, outdoors and indoors swimming pools and a park. Another establishment, selling for 14.2 million euro, is directly on the seafront.

Meanwhile, 13 million euro would buy you a three-star hotel with 232 rooms, a restaurant with 200 guests capacity and a spa centre, also in the Golden Sands.

Altogether, 17 Golden Sands hotels are for sale, with a further 15 in St St Konstantin and Elena resort. A total of 14 properties have starting prices of more than one million euro, Darik said.

The cheapest property for sale is a three-star villa on Rakitnika, appraised at 210 000 euro. Average price ranges 350 to 2321 euro a sq m, but in the majority of cases, the prices are below 1000 euro a sq m.

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