Right, it’s time to get things moving.  There have been delays due to a few Royal Mail issues.  Bless them!  They try so hard!  Here is some more information for you if you are considering making Project 1p an offer and becoming the future owner of the land.

The land is in a village called Mail Izvor. (See pictures below)  According to Google, it is approximately a 1 hour and 26 min drive to the Black Sea.

The land is registered, which means that it can be built on without planning permission.  As I already mentioned in the blog, it can be used for any legal purpose.  The 10 sq m plot is part of a much larger plot owned by Paul Holman of Propinvest Ltd.  Your plot can be expanded at any point.  I think there are a few thousand sq meters in total.

Due to obscure Bulgarian laws on land ownership (which are due to change in 2014), foreigners can only own land in Bulgaria if they are a limited company.  Unfortunately, Project 1p is not a limited company.  To get round this legal technicality, the 10 sq m of land is held in a trust by Propinvest Ltd who have granted me, Luke Seall the right to use the land for any legal purposes, forever.  This is basically the same as owning the land but in a roundabout way using a few legal loopholes.  Anyway, the ownership, or ‘right to use’ of the land will be transferred to the new owner following a trade with Project 1p. Woohoo!

Paul is a great guy, and would be happy to help answer any other questions about the land.  Let me know if you want any more information and make me an offer!  As usual, cash of trade acceptable.

Advertisements