"Mr. Vain" names town after himself

Fast cars and flashy jewellery aren't enough for millionaire Scott Alexander - he's buying a whole town and naming it after himself.

Scott, 31, a lifestyle and property tycoon, is set to boost his already booming business interests by turning the Bulgarian coastal town into a holiday hotspot for British tourists.

And he is going to ditch its current name, which is difficult for Brits to pronounce, in favour of his own surname. He will not say what the town is called at the moment for "commercial reasons".

Scott - who is single and lives in a £1.4m penthouse apartment in Manchester - claims to have bought the town, which is already home to 1,000 residents, from a Bulgarian entrepreneur for £3million. The current name of the town is being kept secret until the deal is complete. But Scott says he will change it to Alexander.

He said: "The town itself is on the coast, and the name is really hard to pronounce. I've decided to call it Alexander, which I suppose is quite cheeky.

"Bulgaria is definitely an up and coming country. I think there will be a massive property boom over there.

"It has golden beaches, the weather is hot between May and October, the food is fantastic and cheap too.

"I'll be building apartments, hotels, casinos and a lifestyle centre. There will be a regeneration programme for the town itself. We will be regenerating housing and building a hospital."

London-born Scott began building up his offshore company, Ultimate Lifestyle Group Incorporated, after studying for a law degree.

The firm, which employs 60 staff, offers personal training and arranges cosmetic surgery, property and cars for celebrities. Past clients of the company include Tom Cruise, who martial arts fan Scott says he helped train for his role in Mission Impossible 3.

"I've built up my business through making contacts and working hard," he said.

"I once bought 100 apartments in one day."

Among his investments were eight apartments in Rosetti Place in Quay Street and 20 more at the Hacienda.

He admits that he has spent £55,000 on his teeth, but denies reports that he spends £300,000 a year on clothes and that he is the vainest man in Britain.

"The fact is, it is all part of my business. If I look sub-standard, the people I help will not be impressed."