A company which specialises in property in Southeast Europe has bought a shopping centre in one of Bulgaria’s oldest towns.

The European Convergence Property Co bought the shopping centre located in Veliko Tarnovofor for just over nineteen and a half million pounds.

Although it’s still under construction, the mall is expected to be completed in August this year.

Based Victoria Street in Douglas, the fund has been established to take advantage of the flourishing real estate market in Southeast Europe.

The company plans to spend more than eight hundred million pounds on property investments in Turkey, Romania, Hungary, the Czech Republic and other countries in Central and Eastern Europe.