Reference is made to the previous stock exchange notices informing about potential sales of land plots in the towns of Byala and Obzor on the Black Sea coast in Bulgaria, acquired by Black Sea Property AS (“the Company” or “BSP”) in connection with the merger with Bulgaria Eiendom Invest AS (“BEI”) in 2021.
An agreement for the sale of the land plot Ayan Play (previously also referred to as Byala Port) of approx., 7,000 sq.m land area has now been entered into with a local buyer. The agreed selling price is EUR 345,000, of which a 10 pct. deposit has been paid to BSP. The closing of the transaction is expected to take place during November.
There are ongoing processes for the sale of further two of the BEI land plots, but with uncertainty related to both price, timing and final outcome.
The total book value of the 5 land plots in the BSP balance sheet is NOK 6 million (approx. EUR 500,000).
For further information, please contact:
Egil Melkevik, Chairman Tel: +47 90 77 09 76 E-mail: em@ms-solutions.no
About Black Sea Property AS: Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast called Sunrise River Beach Resort. Sunrise River Beach Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space. Black Sea Property AS has indirect ownership to the project and will work to finalize Sunrise River Beach Resort, to realize the project's added value through the sale of residential units and hotel operations.