information memorandum for the kersewell development€¦ · this information memorandum provides...

Information Memorandumfor the Kersewell development

2 : Investor Information Memorandum

ContentsIntroduction 2A financially safe & proposition 3Your opportunity 4The development concept 4Infrastructure, activities, planning and development 4The time is right for Kersewell 5 Development schedule 5 Bird’s eye view 6What makes the resort special 7Development income 8Development costs 9Resort operations 9Exit opportunities 10Investment opportunities 11The practical points of investing through a SIPP or a SSAS 14Risks 15 Your next steps 15Kersewell adminstration 15

Disclaimer: these particulars are provided as a general guide only, subject to contract and availability. They are not intended, nor do they contain, any representation of fact upon which any interested party is entitled or should rely. Consequently this literature should be treated as a general guidance and cannot be relied upon as accurately describing any of the Specified Matters described in any Order made under the Property Misdescription Act 1991. All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each time. The information provided is intended for illustration purposes only and could change, for example, in response to market demand or ground conditions. Journey times to and from the property are for guidance only and prospective purchasers or lessees should make appropriate enquiries. Financial illustrations are based on our own assumptions and are not intended to be representations of future performance. Prospective purchasers must rely on their own due diligence.

Introduction

This Information Memorandum provides you, as a potential resort suite investor, with all the necessary information about Kersewell, the resort and its business plan. Reading it will help inform your investment decision. We hope you find it interesting and informative. We recommend you study it and other resort literature – and also obtain independent investment advice from a suitably qualified third party – before purchasing.

For further information about the how the development of the resort and investment opportunities, please visit www.kersewellresort.com.

Information Memorandum

3 Investor Information Memorandum

Kersewell firmly believes it is offering one of the most effective and secure property investment opportunities in the UK today with investors guaranteed immediate returns of up to 10% from the instant they invest.

The 485 acre leisure and activities resort has been carefully researched and developed by an experienced international

team with proven track records developing similar large-scale, highly profitable concepts across the globe.

The entire Kersewell proposition is financially and conceptually sound and has the backing of HVS, one of the world’s

leading hotel and resort agencies. The consultancy was commissioned to assess the concept’s full potential and has

confirmed the site and location are perfect to exploit the fast expanding and highly profitable short break market.

The operations are based on the Center Parcs model, which operates at 90% plus occupancy and generates

a 50% profit margin on sales.

It’s a safe propoisiton too as investors’ capital is insurance protected with a bond covering either their deposit or 30% of

the purchase price. Investors can buy with the security of purchasing UK property where all transactions are conducted by

UK lawyers. There are even pre-agreed developer funding and list price discounts during the initial stages of the project.

The properties, when sold as commercial real estate, are SIPP and SSAS compliant. They are an ideal vehicle to ensure

better pension returns for investors looking to secure their financial futures.

There are many other tax benefits available too, including possible business property and inheritance tax relief.

While investors have clearly identified exit routes after years two and three of the development, for the smart

investor it is a long term opportunity with strong projected capital growth. A two-decade investment could easily see a

559% return on the capital that is invested today.

A financially safe & sound proposition


The development conceptKersewell has identified a market opportunity for

a family-focused, value leisure resort brand. It has

developed the concept with strategic architectural,

construction, leisure consultant companies and Scottish

government agencies.

Your opportunity Over 75 per cent of Scotland’s population (3.8m people)

resides within a 50-mile radius, less than an hour

by car or train. The area is well served by fast major

roads, three international airports and good rail links.

Many major cities, such as Manchester, Liverpool,

Leeds and Newcastle, are less than three hours by car

adding another 12 million more people to the resort’s

catchment area.

Tourism is essential to Scotland’s future. Total revenues

of £4.2 billion makes it larger than its oil, fishing and

whisky industries combined. The country hosts 16 million

overnight trips per year, with 80% from the UK. Most

overseas visitors are from the USA, France and Germany,

who are all very familiar with the resort proposition.

The Scottish tourist market is growing fast and saw a

healthy 9% increase in hotel occupancy in 2009/2010.

Spending in the visitor economy is expected to

increase 2.9% per annum between now and 2020 with

short breaks essential to the future success of tourism

in Scotland.

Kersewell believes the increasing demand for short stay

UK vacations is driven by long-term consumer trends that

are unlikely to change for the next two decades.

Consumers are increasingly cost and cash

conscious - and are reacting against the time, costs

and security issues associated with foreign holidays

and flying.

Consumers are changing work and lifestyle

patterns with flexible working practices

encouraging a greater uptake of three or four

day leisure breaks rather than a one or two week

“annual foreign holiday”.

Consumers of all age groups have a desire to

continue to learn and educate themselves about

their activities and improve their abilities and

understanding.

The residential activity holiday resort is a proven

opportunity in England and France with competitor

operators currently achieving profitable growth with

annual occupancies as high as 97%.

Infrastructure, activities and planning The development is a 485 acre site in southern

Scotland’s Clyde Valley, located between the country’s

capital, Edinburgh, and its largest city, Glasgow.

This provides Kersewell with the key accessibility,

demographics and topography criteria necessary to

successfully establish a profitable resort.

The resort will offer a wide range of free and pay-as-

you-play indoor and outdoor activities for children and

adults of all ages and abilities.

Expert tuition, lessons and courses will be integral to

the resort proposition.

Guests will enjoy a range of leading high street brands

and the resort’s own restaurants - while food, drink,

retail, housekeeping and spa services can be delivered

to their accommodation.

The site has outline planning permission from South

Lanarkshire council for 750 resort suites, a 250 bed

hotel together with indoor and outdoor activities,

including a golf course, clubhouse, food, beverage,

retail and lifestyle, spa and swimming facilities.

Detailed planning approval is due to start in Autumn

2011 and should be granted once Kersewell has

presented final designs.

This assumption is based on feedback Kersewell has

had from the planning authorities, advice from Scottish

Development International, progress on the studies

undertaken - and the plans to build resort suites to high

(4 or 5) codes for sustainable homes (CSH) gradings.


The time is right for Kersewell The economic climate and the exchange rate are

encouraging people to holiday in the UK rather than

go abroad. They want more value, less travel. Kersewell

believes the UK is now exiting the worst recession in living

memory that has led to a slump in property prices.

As a result, we are currently at the bottom of the value

cycle, which means real estate can only increase in value.

The recession has supressed real estate development in the

UK so new build property has been scarce. Developers such

as Kersewell, who have invested wisely, can afford

to release in-demand product that will appreciate well in

an under supplied market.

Demand is growing all the time. UK residents making

holiday trips overseas dropped by 15% in 2009 while

Scotland saw a 9% increase in hotel night stays.

This trend is likely to continue, especially as people

prefer the ease and convenience of driving to a resort

less than three hours away compared to the time

consuming inconvenience and stress of airport travel with

its associated negative carbon footprint implications.

Developing the short leisure breaks in Scotland is a key

objective of Scottish tourist authorities in their bid to

increase tourism revenue generated in the country by

50% over the next five or six year. Visit Britain is already

anticipating a rosy future for Scotland’s tourist industry

and is predicting spending in the ‘Visitor Economy’

will increase by 2.9% per annum between now and 2020.

Occupancy will be supported by the eclectic choice

of major tourist and visitor attractions in the

vicinity of the resort - which is simply unrivalled by any

resort in the UK.

Development schedule The site will be a phased development to achieve effective

construction and operational economies of scale. Although

timescales have been outlined, the building programme

will be in line with sales – with sufficient activities and

facilities to meet guest requirements.

Phase 1 (March 2012 to December 2013)

The golf course, loch and surrounding infrastructure and

accommodation will establish the resort’s visual appeal.

The reception area, administering all the central booking

and information requirements, is the first port of call for

guests. This is near the first central building, which has

swimming pools, the spa, indoor activities and restaurants.

Outside will be tennis, football, basketball, action

adventure challenges and facilities for activities such as

camping, orienteering and mountain biking. A boathouse

by the loch will include additional food and drink facilities

and indoor and outdoor entertainment areas.

Phases 2 and 3 (2015 and 2016)

Once the core resort has opened in 2014, a further 350

resort suites will be added with extra central buildings

offering extended indoor activities and restaurant facilities.

The phases are split between the Spring of 2015 and

Spring of 2016.


Bird’s eye view


What makes the resort special?

Location The resort is perfectly located with Edinburgh (less than 30

minutes drive away) and Glasgow (45 minutes) within easy

reach of the southern end of the Clyde Valley. It enjoys good

quality motorways (the M74 nine miles to the south west

of the site links Kersewell to England and Wales via the M6)

major roads, train, air and ferry links and is readily accessible

to millions. Numerous major visitor and tourist attractions are

less than an hour’s drive from the resort.

Resort SuitesCode 5 sustainable homes graded suites feature super

insulated panels and heat recovery systems to ensure low

heating, energy and maintenance costs. They will stay

in better condition than lower specification builds. Our

substantial investment in sustainable energy sources ensures

they will be comparatively cheaper to run as energy prices

continue to soar. In a decade’s time, the difference between

a self sustaining unit and one run from the national grid could

effect the yield of an individual suite by as much as 3%.

Golf and lochs An 18-hole golf course to match Scotland’s best designed by two

times major champion Sandy Lyle (left) and golf architect Scott

Macpherson enhances the resort’s landscaping and aesthetic

appeal, adds to the value of your property and contributes

to the atmosphere of a busy yet relaxing resort. The loch are

brilliant playground in itheir own right. Both improve long term

property values. Although designed by world class architects in

their fields, the units have still been sold based upon a recession

driven yield. Therefore you can see there is a huge margin for

potential capital growth as the market improves.

The Environment The resort is a car free zone - and for good reason. Kersewell’s

commitment to the environment is total. Not just because it is

protecting the planet but for good business reasons. The lower

the heating, energy and maintenance costs the more it has to

further invest in the resort. What’s more, by future proofing

the resort suites now, Kersewell is enhancing the long-term

value and potential for capital appreciation of your properties.

Behind every brilliant view and stunning feature, there is a sensible and sound business reason for what Kersewell is doing.

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3 Bed Executive £219,000 914.93 sq ft

OccupancyAnnual Income

Service Charge

Net Income

50% Share Yield

70% £28,856 £1,200 £27,656 £13,828 6.3%

80% £32,978 £1,200 £31,788 £15,889 7.3%

90% £37,100 £1,200 £35,900 £17,950 8.2%

94% £38,749 £1,200 £37,549 £18,774 8.6%

Development incomeThe development is a self-funding model, generating funds from individual investors. Kersewell expects a large

proportion of development funding to come from selling resort suite accommodation to individual and small institutional

investors. They will earn rental income from the accommodation revenue. The freehold resort suite titles are suitable for

self-invested pension plans or as small self-administered schemes.

The core fundraising product will be complemented by a) an investment fund, which will own a group of resort suites, b) a bond

issue and c) normal property sales. The phased construction will generate the necessary revenues and cashflow to fund the

later stages of development. Full details as appropriate will be made in the near future.

Once operational, resort suite investors will share equally with the resort operator the accommodation revenue less the

service charge.

Kersewell is intending to open the resort in 2014. This will coincide with huge publicity for Scotland, which is hosting the

Commonwealth Games in Glasgow and the Ryder Cup at Gleneagles. Kersewell will immediately engage satisfied visitors

to drive sales to owner occupiers. Once the final resort suites and central facilities have been completed the operator will

also drive occupancy rates and visitor satisfaction ratings to achieve the operational targets.

Projections on an investment of £219,000 in a 3 bedroom executive resort suite show the income you should receive. In year one Kersewell will guarantee a minimum return of 6.0% as the occupancy builds. Kersewell forecasts occupancy levels of 80% in year two, which could generate a return of 7.3%. By 2018 it is forecast that the occupancy rates will be at 90%, which could generate a return of 8.2% at this price. As an indicator of current occupancy trends, the resort’s nearest similar competitor resort in the UK reports results as high as 94% per annum across several sites.


Development costsKersewell has fully costed the total construction of the resort with the assistance of its strategic development partners,

including architects Holder Mathias and lead build partner Miller Construction. The first phase will include the central

build, over 400 resort suites, lochs and the golf course. The second and third phases add another 300 resort suites and

additional central buildings. Kersewell has added a 5% contingency to the construction costs throughout the build

programme. Professional fees and marketing costs include the operational start up. Kersewell believes the total £172.3m

development and marketing costs have sufficient funds to manage any unexpected build costs or shortfalls in income.

Resort operations The brand concept is primarily a short stay vacation holiday resort with high quality accommodation. Operational

income will be generated from resort suite rental, high street branded and own brand food and beverage outlets, pay-as-

you-play activities, spa treatments, cycle hire, lessons, courses and local membership schemes. The three key performance

indicators driving the operational success are the occupancy rate, the average daily rate (what guests pay for their

accommodation per night) and the resort profitability after operational costs and resort suite rents. The financial forecasts,

based on stable occupancy at 90% from 2018, indicate strong profitability to ensure investor returns. The management

team, consisting of leisure professionals who have launched and run high profile global resorts, will constantly seek to

maximise operational results to enhance your income and grow the value of your investment.

Kersewell Resort 2014 2015 2016 2017 2018

Resort Suites 426 566 750 750 750

Occupancy 80.0% 80.0% 80.0% 85.0% 90.0%

Av Daily Rate £ 146.00 146.00 146.00 146.00 146.00

Accommodation Rev £M 18.2 24.6 32.0 34.0 36.0

Other Revenue £M 13.7 18.2 24.1 25.6 27.1

Profit before Fixed Costs 10.7 16.8 23.3 25.3 26.8

Profit after Resort Suite Rent £M (4.0) (0.1) 3.1 4.3 4.9

Revenue per Resort Suite exc VAT £ 35,572 35,572 35,572 37,761 39,950

Yield % Investment 6.0% 7.4% 7.4% 7.9% 8.3%


Exit opportunities Resort suite investors have clear exit opportunities.

Investors with a freehold title can sell the “business”

on the strength of the rental yield. They can sell it to

similar investors to themselves, ‘lifestyle’ purchasers and

corporate commercial investors.

The UK leisure resort sector Kersewell is entering enjoys

sustained growth and investment. Publically available

information for Center Parcs’ four sites in England and

Seasons Holidays shows the attractiveness of the Kersewell

style of activities and leisure resort. Bluestone resort has

recently been built in southern Wales as others recognise

the investment opportunity and enter the market.

Increasingly in the UK, guests are looking to guarantee

access to the resort amenities when they want. This

“lifestyle” market is often for people living within 20/30

miles of the resort but who want the resort membership

and access to the golf, spa and childrens entertainment.

With Edinburgh and Glasgow virtually on the resort’s

doorstep, there is a massive potential market. Purchasers

may want to buy a specific week in the year or even all

year round access. Many resorts, such as Glenmor at

Gleneagles, offer this opportunity. And Kersewell will too,

by establishing this market it anticipates building the

capital value and ease of access for investors.

Corporate commercial investors might include the resort

operator, another resort group or a leisure investment fund.

As an example, Center Parcs acquired the Oasis resort in

Cumbria and renamed it Whinfell Forest in 2002 when it

expanded its estate. In the event of a corporate sale, this

would likely to include all the real estate elements, which

could result in considerable profits for investors.

Once the resort is operational and established, Kersewell

anticipates a considerable uptake of ‘lifestyle’ purchases

from owners not principally motivated by investment

factors. These purchasers are looking at fractional or

vacational options rather than a whole purchase and will

either be cash buyers or funding through raising funds

against their primary homes. Market research into this

sector shows buying motivations include the proximity of the

resort to the home, a desire to invest in prime locations and

a wish to enjoy a luxury serviced second home without the

costs of an outright purchase. Kersewell believes there will be

substantial growth in UK fractional and vacational purchases,

mirroring the success of the fractional industry in north

America and the Caribbean where over 330 developments

were generating total sales of $1.5b per annum at the end

of the last decade. Europe is catching up with the USA, with

approximately 100 fractional deeded products located across

the continent.

This ‘lifestyle’ demand should drive up the value of resort

suites over the coming years. This is good news for SIPP

and SSAS investors buying now. The combined total return

or value of a fractional and vacational purchase is likely to

provide a considerable price uplift for resort suites, leading

to large profits when the exit coincides with the increased

demand for lifestyle products.

According to leading international real estate industry

specialists like Northcourse and Ragatz, the aggregate

prices of the units are usually valued at 150-200% of

the initial single base price of a unit. For vacational units

it can be as great as 300%. The quality of the build

specification, location and competition all influence the

range in value. The Kersewell proposition - matching high

quality accommodation, food and drink, golf, numerous

other activities and a commitment to education - more

than satisfies all these requirements. It is expected the

uplift will veer towards the top end of the spectrum.


Investment opportunities The resort suites are either two, three or four bedroom

and have different specifications. Executive, Premium,

which has about 10% extra space than Executive for

added comfort, and Luxury, the same size as Premium but

completed to a higher specification with locations that

maximise the views.

The hotel will have one bedroom suites that offer all the

same facilities in a central location, although they won’t

have the outdoor space of the other accommodation.

Two bedroom suites start from £194,000, three bedroom

from £219,000 and four bedroom from £269,000. The

prices are calculated with the assistance of independent

valuation advisors using normal commercial property

calculations based on the target rental income due over

the first ten years of the resort.

Kersewell has developed five investment opportunities for

you. This IM focuses on the SIPP and SSAS investments

but also mentions the others to give a complete picture of

the opportunity.


Table showing sale of 2 Bedroom Executive resort suite, £194,000 Staged payments paid by developer loan, final payment at completion Mortgage to 50% of fund value

When Action Due £ Paid £

Now Reserve suite Refundable deposit 2,500

within 8 weeks Exchange contracts 30% due 58,200

Deposit Insurance 2% optional 1,164

Legal conveyancing estimate 675

Reservation fee returned (2,500)

not yet known Foundations completed 25% due 48,500

not yet known Roof completed 20% due 38,800

not yet known Fixtures completed 15% due 29,100

not yet known Completion 10% due 19,400

At completion Interest on money due estimate 3,000


Stamp duty Paid direct by investor -

(139,475) 139,475

Total Paid to Kersewell 0 199,514

Investor's pension Inc Pension relief at source 134,847

Mortgage 64,667

Stamp duty & admin fee Paid direct by investor -

Total Paid to Kersewell 199,514

Table showing sale of 2 Bedroom Executive resort suite, £194,000 Payment in full at exchange

When Action Due £ Paid £

Now Reserve suite 2,500

within 8 weeks Exchange contracts 100% due 194,000

Deposit Insurance 2% option 1,164


Reservation fee returned (2,500)

Foundations completed Nil -

Roof completed Nil -

Fixtures completed Nil -

Completion Nil -

At completion 6% pa interest on full

payment

estimate (17,500)

At completion Legal conveyancing estimate 425

At completion Stamp Duty Paid direct by investor -

At completion 17,075 (17,075)

Total Paid to Kersewell 0 178,514

Investor 178,514

Mortgage 0

Stamp duty & admin fee Paid direct by investor -

Total Paid to Kersewell 178,514

Sales discounts may be available at certain times to reward those who pay in full.

Note that all figures shown are illustrative and dependent on individual circumstances.


1 Purchase of a freehold resort suite title within a SIPP or a SSAS, either as a whole or an eighth

share (fractional)

You can purchase a “going concern” with an operating

leaseback agreement. The rules for the SIPP and SSAS

investments exclude personal use of your investment. You

will have a VAT registered SIPP or SSAS, pay an immediate

£2,500 reservation fee (which is refunded to you minus stamp

duty, legal costs and administrative charges, to secure the

specific resort suite and the balance of the deposit (protected

by a bond) on exchange of contracts within two months. The

deposit will contribute towards building the resort suite and

the initial development.

Further payments are due at key construction stages

(completion of foundations, roof, fixtures and completion).

You have the option of deferring payment until completion

by taking out a loan with Kersewell. The interest on this loan

is added to your final settlement figure, which is due upon

completion of your resort suite. From this point, Kersewell will

pay you a guaranteed 6.0% annual return until the end of

the first operational year of the resort.

The operator will share the accommodation revenue (net of

VAT and a small annual maintenance charge) equally with you.

To ensure the return in the first year of operation, the rent is

guaranteed at a minimum of 6.0%.

If you value the rental opportunity and possible capital

return but want to invest a smaller amount than a whole

suite, the larger units are available as fractions of an

eighth, which still provides the security of part of a freehold

title and the ability to resell on exit. Each fraction will share

half of the accommodation revenue from six weeks in the

year. The total investment is due on exchange.

2 Purchase of one or more shares in a fund that will own multiple resort suites

If you have £5,000 or more, you can invest in a fund that

will own the title to a group of resort suites. Rental yields

are the same as the other SIPP and SSAS investments, with

a sharing of accommodation revenue allocated to fund

investors on a pro-rata basis. Kersewell’s aim is that this

will provide similar percentage returns on your investment

to the purchase of a whole suite within a SIPP or SSAS. A

separate Fund Information Memorandum is available upon

request.

3 Purchase of a 4 year bond with a guaranteed 7.0% annual return

If you have £5,000 or more but you want a guaranteed

income yield independent of the success of the resort,

you can invest in a development bond that will pay an

annual return of 7.0% and will be redeemed after four

years. A separate Bond Information Memorandum is

available upon request.

4 Purchase of a freehold resort suite title, either as a whole or an eighth share (fractional), for the

owner’s own lifestyle use

If you enjoy the ‘resort’ lifestyle, you can purchase a

resort suite for your own use and automatically become

a member of the resort. This is a normal property sale

with certain resort rules to maintain the style and look

with a service charge for delivery of essential services and

maintenance. When not in use, the operating company

will seek to rent it out on your behalf (sharing the rental

income with you). As indicated in the section above

on exit opportunities, Kersewell believes that “lifestyle”

purchasers will increasingly target the resort once they

have stayed and want guaranteed access to the resort

whenever they want.

5 Purchase of a week’s own use of the resort suite for five years

Once the resort is open and you’ve experienced the resort,

you might want to purchase a five-year vacational share of

a certain week for your own use, which includes membership

of a global exchange programme. Your price is all inclusive

and guarantees the resort suite and time chosen. There is not

a freehold title to this purchase. This option provides a high

margin exit option for current investors.


Kersewell is delighted that you share its vision and want

to invest in a resort suite. You will need to contact your

Independent Financial Advisor (IFA) or sales agent. If you

don’t have one, Kersewell can recommend an IFA who has

been trained on the opportunity and can help assess if it

is appropriate for you. The IFA will guide you through the

investment and assist you with any pension matters.

When you pay the £2,500 reservation fee, the suite is held

in your name for two months to allow your IFA to contact

the resort’s SIPP and SSAS trustees or your own provider to

set up your SIPP or SSAS.

Kersewell will give you a 14 day “cooling off” period should

you wish to change your mind for whatever reason.

If you already have funds in a SIPP or SSAS our nominated

SIPP provider will open a new account for you and transfer

the money free of charge. This should take a matter of

days. If you do not exchange contracts within two months

Kersewell reserves the right to withhold the reservation fee

and resell the site.

Kersewell has also explained the opportunity and

processes to an independent panel of three Scottish law

firms who are willing to act for you for a pre-negotiated

fee. They will complete the necessary searches and due

diligence that you would do for any house purchase.

Within two months, you will exchange contracts and pay

a 30% deposit to Kersewell via your lawyer. You have the

option of buying a bond that will protect your deposit in

the unlikely event that the developer is unable to build your

investment. This is provided by a third party insurer. The

reservation fee will be used to pay any outstanding fees with

the balance returned to you.

At this stage Kersewell will have exchanged a contract to

sell you the freehold of the site with the appropriate resort

suite and the operating company will have signed an

agreement to lease it back to you on completion for nearly

175 years, which is the maximum allowed in Scotland. You

will have a standard security over your site and this lease

requires the operator to insure, repair and maintain your

suite and the surrounding area at our expense. There is

also a deed of conditions that will ensure the continuity

of the look and feel of the resort which helps protect your

investment.

Your SIPP or SSAS will need to be VAT registered to enable you

to benefit from the sale being accounted for as a ‘transaction

of a going concern’ (TOGC). Kersewell will charge but not

collect the VAT on the sale. However, if you are not registered,

Kersewell will have to charge and collect the VAT.

As Kersewell finishes your resort suite it will notify you that

the build is close to completion and confirm when the final

investment is required. You may also want to engage a

mortgage provider as you are allowed to borrow upto 50%

of the value of a SIPP or SSAS, which reduces the cash that

you have to put in. After completion, the resort operator

will co-ordinate all the service, maintenance and repairs.

As soon as the resort is open, the resort operator will look

forward to welcoming guests to stay in your investment

and sharing their accommodation revenues with you.

Kersewell will continue to update you on the progress

of both the resort and your investment. As the resort is

in Scotland, you can always visit and see for yourself. If

you have any queries a dedicated sales support team is

available to answer your questions.

The practical points of investing through a SIPP or SSAS


RisksAs with any investment opportunity, Kersewell has

assessed all the relevant risk factors involved in this project

and has designed its business model to limit investor

exposure.

Kersewell will minimise expenses until detailed planning

permission is obtained, match construction of the resort

suites and central buildings to the rate of sale of resort

suites, ensure all strategic partners are robust and

financially sound and its management is not reliant upon

one individual.

Your next stepsThank you for taking the time to read this Information

Memorandum and the other documentation and brochures.

Your Kersewell accredited IFA or sales agent will guide you

step-by-step through the purchasing process. They have

been approved by Kersewell to sell its products and have

undergone training and awareness programmes

to ensure they have specific extensive knowledge about

the resort, the products and the developer’s market. They

all share Kersewell’s commitment to professionalism and

transparency and have signed a code of conduct and

terms and conditions. They are committed to putting your

interests first at all times.

As well as liaising with your IFA or sales agent, Kersewell

has a dedicated customer service team that you can

contact to discuss any aspect of your investment.

Kersewell will also be sending you regular e-mail and

newsletter updates and you can follow its progress

via www.kersewellresort.com.

And, of course, you can always come and visit the site and

see the progress for yourself. One of the many beauties

of this investment, unlike other similar overseas projects, is

the fact it’s literally on your front doorstep.

KERSEWELL administrationKersewell Estate Ltd, company number 76941, is based

in Jersey at 3rd floor, Windward House, La Route de la

Liberation, St Helier, JE2 3BQ. It owns the land and will

own the central facilities and common parts. Its wholly

owned subsidiary, Kersewell Developments, company

number 76935 at the same address, is the developer

and will construct and sell the resort suites to investors.

Disclaimer: these particulars are provided as a general guide only, subject to contract and availability. They are not intended, nor do they contain, any representation of fact upon which any interested party is entitled or should rely. Consequently this literature should be treated as a general guidance and cannot be relied upon as accurately describing any of the Specified Matters described in any Order made under the Property Misdescription Act 1991. All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each time. The information provided is intended for illustration purposes only and could change, for example, in response to market demand or ground conditions. Journey times to and from the property are for guidance only and prospective purchasers or lessees should make appropriate enquiries. Financial illustrations are based on our own assumptions and are not intended to be representations of future performance. Prospective purchasers must rely on their own due diligence.

Kersewell Resort Limited, 1 Berkeley Street, London W1J 8DJ T: 0845 519 8153 [email protected]. www.kersewellresort.com

Kersewell Developments Limited, 3rd floor, Windward Housela Route de la Liberation, St Helier, Jersey JE2 3BQ

www.kersewellresort.com

information memorandum for the kersewell development€¦ · this information memorandum provides...

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