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From: Nigel
ArtDate: 12th December 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 84.9.59.118
Date: 22/12/06
Time: 20:04
12th December 2006
Lewis Charles Sofia Property Fund Announces Razlog Investment
News Item - Conduit PR
Lewis Charles Sofia Property Fund Limited announces Eur 5.4 million investment near the town of Razlog, Bulgaria.
Lewis Charles Sofia Property Fund Limited ('the Fund')(Ticker: LCSS), the Bulgarian residential property investment fund today announces two further major acquisitions close to the town of Razlog and the ski areas of Bansko and Dobrinishte.
The first plot that has been obtained is situated adjacent to what will be the 4th and 5th holes of the Ian Woosnam golf course, which is scheduled for completion in March 2008, and commands wonderful views of the Pirin and the Rila Mountains. It is expected that 73 luxury apartments and 4 villas will be built in two phases, starting around April 2007. Planning consent has been received for the first phase of 43 apartments and the 4 villas and 21 luxury apartments have already been sold off-plan.
The second plot, located 500m from the old town, is also regulated for residential development. It is intended that around 150 apartments will be built, development work for which is expected to start around April 2007. Imaginative architecture and design and state-of-the-art materials will combine to make this a stunning development with a restaurant on the top floor with views over Bansko and the mountains.
Both plots are to be developed by Westhill, a well-known investment advisory company and property developer which operates a number of investment funds and development projects in European emerging markets and the UK. Westhill brings a wealth of local knowledge and contacts with a background of bringing exacting EU standards to East European markets
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
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