Short Company profile

 

Hotel St. Ivan Rilski is rented for about BGN 1.54 per square meter per month The Bulgarian joint-stock company with a special investment purpose for securitization of real estate Fairplay Properties REIT signed a contract with Fairplay Properties Management EOOD for renting the hotel St. Ivan Rilski in the town of Bansko for a fixed rent of BGN 0.63 per square meter per month without VAT, according to calculations by Investor.bg, based on published materials from Fairplay Properties REIT. The fixed remuneration is BGN 100,000 for the whole year, which makes a rent of BGN 7.55 per square meter per year, without VAT. The hotel's revenues for the excess over BGN 1,000,000 are due 10% variable rent and Fairplay Properties REIT expects the total rent to reach BGN 245,000 for the period from October 1, 2020 to September 30, 2021. This will makes BGN 18.5 per square meter per year, without VAT, or BGN 1.54 per month. The amount is about EUR 0.77 and for comparison is about 10 times lower than the average rental level of apartments in Sofia. A market valuation of the hotel has been made on January 29, 2020 to the amount of BGN 10.02 million, and the expected rent brings a gross yield of 2.45%. However, according to the Fairplay Properties REIT website, investments in the hotel amount to BGN 15.3 million, of which BGN 2.5 million are invested in equipment. If we consider the return on the basis of the invested funds, it falls to 1.6% at a rent of BGN 245 thousand and to 0.65% at a fixed rent of BGN 100 thousand. This is a gross return before taxes, repairs and depreciation of the equipment. Fairplay Properties shares fell 37% in the last 12 months to BGN 0.31 per share and a market capitalization of BGN 10.3 million. A gross dividend of BGN 0.0108 per security was also distributed.

 

 

This company profile is visited 1 773 times
[2026: 135, 2025: 501, 2024: 165, ... ]