St.GEORGES Lodge Project Profile

In early 2005 Parc conceived a landmark 5-star ski development in up-and-coming Bansko, Bulgaria. Prime land was identified and secured, and in September 2005 a competition was run to select an architect best suited to deliver a landmark ski project. In March 2006 the final designs were agreed and 'St Georges Lodge' was born.

Currently under construction and due for completion in 2008, St George's Lodge is a five star ski development comprising 157 apartments located on prime land selected for its views and access to key amenities. The site has wonderful views over Bansko and the Pirin mountains It is also surrounded (mostly) by National Park land.

Locally the new gondola station (currently awaiting final confirmation) is circa 300m and the town centre is a gentle 5-10min walk. Tenders have been submitted by American companies to build a local airport, 40km from Bansko. This will attract low cost airlines and airport transfers will be the shortest in Europe for a major ski destination. Sofia is approximately 2 hrs by car on a new road currently under construction. The Greek border is about an hour by car to the South with access to the Aegean Sea just beyond. The development is based on Parc's exacting standards.

Some of the facilities at The ST.GEORGES Lodge:

• 7% gross annual rental guarantee for 1 year
• Top quality fixtures and fittings (included in the price)
• Western style bathrooms and kitchens
• Hotel-style 24 hour concierge service
• Landscaped gardens and outdoor recreation area
• Leisure complex including a large pool (opening onto the terrace) gym, sauna and changing facilitie
• Separate ski entrance with pick-up and drop-off point leading to a Ski locker and storage area including drying facilities
• Lifts to all apartment floorss
• Underground parking (68 spaces)
• Prices from €79,000 euros

The quality of these apartments far exceeds most other developments in the region and the pricing model is competitive suggesting that strong capital growth will be possible both during the construction phase as well as beyond completion.