Doing business Bulgarian style!
A leading international real estate company is expanding its own empire by opening offices in Bulgaria.
Interlink Sun Homes is due to open a new, second office ‘Sun Homes BG’, in the Bulgarian ski resort of Bansko due to high levels of demand for property in the area.
The Sheffield-based business - which aids UK clients with property purchases in Cyprus, Florida, Spain and Turkey, as well as Bulgaria - is extending its own property network to deal with the high number of customers wanting investment or holiday homes abroad.
Director Nigel Murton said: “We’ve been phenomenally busy since we opened our first office in April 2004 and around 90 percent of our business has been in Bulgaria.
“It made sense to us to open offices in Bulgaria so we are able to offer further support to our UK customers as well as being able to help other nationalities purchase properties there.
“It also gives us the opportunity to diversify even further. As customers are completing their purchases and taking hold of their new properties they’re looking for someone to manage it and we’re in pole position.
“It’s also incredibly reassuring for customers to know that we have a presence in both countries.”
Nigel attributes the high levels of demand for Bulgaria to a combination of factors including their impending admission into the European Union, the growth of fly-to-let landlords because they aren’t happy with the returns they’re getting in the UK and the versatility of the country.
Bansko, a year-round resort possibly best known for its skiing resort, and has bid for the 2014 Winter Olympic Games. But it is also the perfect terrain for golfers, hiking, mountain biking, climbing and fishing throughout the rest of the year.
Both Interlink Sun Homes and Sun Homes BG provide an international service to clients wishing to purchase property abroad, offering help every step of the way from initial advice and research, to the inspection visit and assistance with purchase, furnishing the property and even selling up, should they wish to do so.
And while the expansion is a fantastic achievement for the relatively young company, which is less than two-years-old, there have been obstacles to overcome.
Said Nigel: “While setting up a business is never completely straight-forward, establishing a company in Bulgaria is not as simple as here.
“I discovered that it was imperative to get a good accountant and a good lawyer, which I fortunately now have. They can really help to steer you through the system.”
Fortunately for Sun Homes they have been able to rely on Sheffield Enterprise Agency (SENTA) for support.
Said Nigel: “We have a very good relationship with SENTA. We originally received help with our marketing and website and then got further advice with regard to the expansion too.
“We’re in touch with them on a regular basis and continue to bounce ideas off them and get feedback which is very useful - it’s always helpful to get other opinions and professional views.”
SENTA Enterprise Director Sandra Edwards said: “We’re delighted that Sun Homes have gone from strength and strength. It’s great to see such entrepreneurship being rewarded with success.
“They have quickly established themselves in Sheffield as well as nationally, and are now set to do the same within the resort itself.
“We’re pleased that SENTA has been able to support Sun Homes through such exciting times and we will continue to do so.”
Sheffield Enterprise Agency is part of Sheffield Chamber of Commerce and provides fully integrated support to new business start-ups and businesses up to two years old. Its start-up programme is funded by Yorkshire Forward under contract with Business Link South Yorkshire.