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eA life of luxury: Britain’s leading female entrepreneur, Chelsey Baker shares her secrets for an even better 2010.

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Fractional ownership_2.indd 1 21/06/2010 12:12:01

Be in the know How to stay ahead of the game

JACob WACkerhAUSen

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no.2/June ‘10

An Advertising insert by MediAplAnet2 · june 2010

The UK Fraction-al Ownership mar-ket really took off in 2006, with a grow-ing number of peo-ple wishing to enjoy a

lifestyle of luxury items and experi-ences without the ties, responsibili-ties and capital outlay of a complete purchase.

A growing trend

1 Since its inception in 2007 it has been my pleasure to host

the Fractional Life Expo, the annual event held at Broadgate Arena in the City of London. Over the years I have seen a dramatic increase in both consumer awareness and interest, with many professionals from the City buying into fractional owner-ship.

If you want to own a luxury sec-ond home in an expensive resort but can’t justify the expense or the time to make use of it, then frac-tional ownership is very appealing. The choice of locations is immense and owners can even trade time at

their locations for nights at other properties in the club’s portfolio on a space-available basis.

Names you trust

2 Luxury developers including Ritz-Carlton, Four Seasons,

Marriot, Timbers Resorts, and De-Vere have all capitalised on the growing demand and offer any-thing from four to 12 weeks of home ownership per year at the most ex-clusive resorts in a wide variety of prestigious beach, golf, mountain and urban destinations worldwide, offering consumers a choice of both time and location to suit their needs.

Find your perfect niche

3 The popularity of asset-shar-ing car clubs has also soared in

recent years, promoting access to a fleet of classic and supercars for a fixed membership cost.

The basic model is that a member-ship fee gets you a number of points. The amount of points used depends on the category of the car, whether

Challenges

living in luxury for a fraction of the cost

Luxury living is what everyone aspires to, but the trouble is that it comes at a price. Second homes and luxury cars don¹t come cheap. However, by owning not the whole asset, but a part of it, a millionaire lifestyle is now within reach. .

“there are clear financial benefits to buying into a golfing resort.”

Playing the beautiful gameWhy there is more to golf than holes in one.

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you want to drive during the week or at weekends and the time of year.

Members have access to a whole fleet of desirable cars with a differ-ent car to suit every occasion, with all the associated costs of tax, insur-ance and maintenance.

If you enjoy spending your time on the water then a fractional boat plan is definitely worth consider-ing before you invest in what could be a rapidly depreciating asset with exorbitant running costs. You can purchase a share of a boat or yacht and are allocated an amount of us-age time. Mooring fees, mechanical maintenance and insurance are all included.

All these offerings and more will be showcased at the annual Frac-tional Life Expo taking place at the prestigious Broadgate Arena and surrounding area in the City of Lon-don 13 – 15th September 2010. The event is free.

I hope to see you there!

Chelsey Bakerhost of the fractional life expo 2010

expert opinion

THE UK'S LARGEST CONSUMER FRACTIONAL OWNERSHIP AND ASSET SHARING EXHIBITION

13 – 15 Sept 2010, Broadgate Event Venues

www.fractionallifeexpo.comFollow us at: twitter.com/fractionallife | Expo Stand enquiries: info@fractionallife.com

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“if you want to own a luxury second home but can’t justify the expense ... then fractional ownership is very appealing”

More than £14 million has been subscribed by UK and other investors to Rocksure funds since Rocksure pioneered in the UK the shared ownership and enjoyment

of multiple overseas properties, and ten magnificent houses around the world have been purchased for our Villa Funds since 2006.

Rocksure funds are unique in the industry because of these special features: 100% of the equity in the real estate belongs to the Shareholders; the property risk is spread over at least 5 destinations; there is absolutely no gearing, thus lowering risks and op-erating costs; each house is fully-staffed including a Housekeeper / Cook who will prepare and serve your

meals; and there is a pre-planned exit at the end of the life of each Fund. If you invest in a Rocksure Villa Fund, you will co-own at least five houses (such as the two pictured below) for a fraction of the cost of just one and will be able to enjoy an average of a month a year FREE of any direct rental cost at your choice of the properties.

Rocksure has now launched its new Capital Fund which follows exactly the same formula of shared own-ership and enjoyment but provides a different product: spacious (1500 sq. ft., 140 sq. m. approx.), minimum

2 bedrooms, 2 bathrooms, luxuriously-furnished and equipped, centrally-located apartments and town houses in 10 of Europe’s most attractive cities, four of which are by the sea.

You can be part of this exclusive club and enjoy 3-night weekends, 4-night mid-week stays, or 7 night combinations by reserving a unit with a fully-refundable deposit of just £5,000.

First closing has already taken place and the apartment in Paris is being purchased now, but it is still possible for you to obtain an ‘early bird’ discount as a Premium Shareholder.

Private companies may subscribe, too, and use the prop-erties to thank existing clients, win new ones and reward management and staff for outstanding performance.

Please contact us right away to reserve one of the last remaining Premium Shareholder units.

Two of the Rocksure Houses in Portugal

An Advertising insert by MediAplAnet4 · june 2010

Buying your own portion of paradise

As society becomes ever more cash rich but time poor, a new type of second home ownership has been gaining in popularity, namely frac-tional ownership.

As its name suggests, it im-plies shared ownership of a prop-erty, typically between four to 12 individuals, but unlike its disliked distant cousin, timeshare, the own-ers which actually be listed on the deeds of the house. Originating in Florida about 30 years ago, and now widely established in the US, frac-tured ownership is becoming in-creasingly popular here.

“Typical fractional life visitors have a time-poor, transient lifestyle based around luxury and experien-tal ‘discovery’,” says Fabrizio Harp-er, head of sales at Fractional Life. “They perhaps own an interest in a fractional life property or belong to a private jet operator/supercar club already.”

One size does not fit allThe amount of time owners stay in their properties varies according to the region. In the United States, most people have two weeks annual holiday, and so that tends to be time

the owners plump for, whereas in Europe it can be twice that.

Find the right spot for youAlthough location, as with any property purchase is key, there are

many places to consider. Some frac-tional properties are specifically de-signed for leisure activities such as a spa vacation or golf, but there are plenty of city developments as well.

For example, in London, a prop-erty in the middle of affluent May-fair or celebrity-haunt Primrose Hill would be stratospherically ex-pensive if wholly owned; as a frac-tional property it caters for visitors who want to come to London either for vacation or work.

These choices are, however, more personal (and over the long term, cheaper) than hotel rooms, as al-most every fractional property has somewhere to leave personal prop-erty, which will be installed in ad-vance of the owner’s visit. Many also provide concierge services, which means groceries can be bought and installed in advance.

According to Fabrizio, the top countries in order of user popular-ity are the United Kingdom, Unit-ed States, Mexico, South Africa and India. “It is an aspirational life-style,” he says.

virginia blackburn

info.uk@mediaplanet.com

Question:■■ Why is fraction-al ownership not talked about more?

Answer:■■ because it is still new to this country and poten-tial buyers need to be better informed.

hellO wOrld Fractional ownership combines flexibility and luxury for those search-ing for adventure.Photos: istock Photo

news

ShowcaSe

Aim high

1step

“it is an aspirational lifestyle.”

Fabrizio harperHead of sales, Fractional life

FactS

Britain is leading the way in eu-■■rope. It is estimated that 44 per cent of fractional property owners in the UK are British.

ownership starts at about ■■£25,000, with the average in europe between £100,000 to £200,000.

according to Fractional Life, 65 ■■per cent of male fractional owners are 30 to 55, while 40 per cent of female owners are aged 19 to 35.

Mosaic profiling groups identify ■■fractional owners as predominantly

baby boomers or ”symbol of suc-cess” demographics, with rewar-ding careers rather than jobs, who live in sought after locations, drive modern and expensive cars and in-dulge in exotic leisure pursuits.

Fractional owners also tend to ■■comprise professionals in senior management positions and entre-preneurs who have reached a sta-ge in their lives in which they want to balance work and leisure more evenly.

when looking for your property, bear the following in mind:

Know what you’re looking for

1 What do you want the prop-erty for? Golf? A spa? And

how far are you prepared to trav-el? There are fractional properties for most types of destination in the UK, but if you have more time to spend in the property, you might want to go further abroad.

Consider your schedule

2 Seasonality is a big issue. Some UK destinations are

still not fully developed because they are attractive in the summer months but not in winter, and for the ownership to work from the developer’s point of view, it must be sold all year round. However, this looks set to change. The same was true of ski resorts in the States, but over the last 10 to 20 years, additional facilities have made them attractive at any time of year.

plan ahead

3 It may seen obvious, but if you have children and want

to use the home for vacations, make sure you own the part that covers the school holidays. Check if there are nearby facilities for children.

think outside the box

4 Fractional ownership does not just cover property:

there are many other elements to it such as cars and planes. It can be a far cheaper option than buy-ing a very expensive car outright.

Be realistic

5 There are usually two costs: the entry level purchase of

the property and the annual charge. Make sure you budget for both.

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CONSIDER OPTIONS

The appeal of this option lies in its versatility.Discover a truly flexible and hassle-free way of life inLondon and enjoy a beautiful home with a uniquefive-star service.

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Membership includes:• Flexible usage to fit around your time in London• Privacy, security and services of a luxury hotel• Storage of your belongings between visits• 24-hour access to an in-house concierge• Attractive alternative usage options• A host of Member benefits• One- and two- bedroom residences from549ft2 to 1,023ft2

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costs will be higher than the average for a second home, as the property will be used more often.”

Trustees are sometimes asked to per-form due diligence on potential owners: this means that co-owners know that each is up-standing. Normally, the property ends up be-ing held in trust for the various owners: a qualified administrator will be required to set up the paperwork there, too.

The ideal number of co-owners, accord-ing to Jerry, is four, but that pushes up en-try costs, something most developers don’t want to do in an uncertain economic envi-ronment.

“Say you have a lovely house in Barbados worth $1 million,” he says. “But if four people owned it, it would still cost them $250,000 or more. So at the moment, many are sold with shares of 12 - but that will change.”

june 2010 · 76 · june 2010

While fractional ownership can be a very successful and cost effective way of owning a second home, there are many issues to be aware of, including the fact that the law is different in various jurisdictions, and that given several people’s name will be on the title deeds, you must ensure that you have the proper title to the property. It is there-fore wise to use a trustee or administra-tor.

Know what you’re getting into“You need someone to look after the re-lationship,” says Jerry Cobb, chief execu-tive of the Fractional Ownership Consul-tancy. “You need someone to look after your usage rights and arbitrate should something go wrong.”

Jerry cites many examples of in-stances owners have to look out for, all

of which should be totally avoidable as long as the proper paperwork is in place. One owner might try to take a charge against the property, thus leaving the others vulnerable if he de-faults on the loan. Or a property might have four owners, one of whom dies and leaves it to his five sons, in which case there are now eight owners. But none of this will happen as long as the purchase is structured correctly.

In actual fact, it is rare for major fall-outs to happen between owners. “They tend to be silly issues, such as a dis-agreement over the furniture package that will furnish the house,” Jerry says. “Owners also need to be aware of what they will be expected to pay in nor-mal wear and tear and abnormal wear and tear. Most properties prohibit pets and smoking, so if an owner leaves the property covered in dog hair and ciga-rette burns, that will be abnormal wear and tear. But even normal wear and tear

Question: Why is it so important to use a trustee when considering fractional ownership?Answer: Because you need someone in place to look after your interests.

How to buy peace of mind

virginia blackburn

info.uk@mediaplanet.com

inspiration

changeorgAnisAtion & prepArAtion

“You need someone to look after the relation-ship”Jerry Cobb Chief executive, Fractional Ownership Consultancy

summer breezeFractional can offer a new lease of life, if you have the right advice.Photo: Alberto Simonetti

Consult an expert

1Go to a company that spe-cilises in fractional own-ership. While it is a rela-

tively new area, it’s growing.

Know what you want

2Take time to discuss ex-actly what you expect of them.

Cover yourself

3Make sure they have pro-fessional indemnity in-surance (any qualified

trustee should automatically have this.)

Know what to expect

4The developer will nor-mally cover the cost of le-gal work, but you will

have annual costs.

top tips

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inspiration

How to achieve the perfect hole in one...

into the sunsetGolf resorts can make a fantastic investment, say experts.Photo: artcyclone

One of the most popular reasons for entering into fractional owner-ship is to pursue a particular type of sport, and nowhere does this hold more true than with golf. Charlotte Rose Melsom currently heads up development, marketing, advertis-ing and branding for the Absolute World Group, and is currently focus-ing on two resorts, yooPhuket and The Beach Samui, both by YOO in Thailand. The former caters for golf enthusiasts; the latter is more for water sports.

“Boutique resorts like yooPhuket are a lifestyle purchase including amenities,” she says. “The Phuket destintion was built because it is surrounded by three of the best golf courses in the world. Prices start from £25,000 for a studio apart-ment, and that includes a pool, gym, spa and use of restaurants, as well as 24-hour concierge service and being collected from the airport.”

Owners will also have use of the golf courses, complete with choice

of top of the range golf clubs, as well as perks that differ by the location. In yooPhuket that includes use of a speedboat for one day a week, as well

as use of a car.

A popular choiceAlan Cornelius is the Sales Direc-

tor for the Firstlight K Club, one of Europe’s largest Golfing, Fractional resorts. “Golf has always been a rea-son for people buying into fraction-al ownership,” he says. “It’s a staple now in resort real estate and even ski resorts now routinely provide golf in the summer.”

A worthwhile investmentFor very keen golfers, it makes sense. “There are clear financial ben-efits to buying into a golfing resort,” Alan says. “At the K Club, member-ship of the club alone is €80,000 for the initiation fee, plus annual fees, whereas you can buy into a proper-ty at just €160,000.” Again, there are many benefits for golf enthusiasts: access to two championship golf courses, the Smurfit and the Palmer Ryder Cup course, alongside mem-bership of the Michael Dixon School of Golf.

Fractional ownership also in-cludes membership of the K Club spa when the owner is in residence, which may well provide a pastime for the golfing widow. Certainly, the popularity of the golf resort is not going to wane anytime soon.

Question:■■ Why are fractional properties good value for golf lovers?

Answer:■■ because they can provide access to the best resorts in some of the most beautiful countries in the world.

virginia blackburn

info.uk@mediaplanet.com

how we made it

“boutique resorts like yoophuket are a lifestyle purchase.”

Charlotte Rose MelsomAbsolute World group

When buying a fractional ■■property, be aware that you will probably not be paying the ex-act cost of, say, a quarter share of a property’s outright value. Costs will be slightly higher, but that is because more than the purcha-se price is included. ”Say you have a £400,000 property, that is being sold in quarter shares,” says Jerry Cobb. ”each quarter will typically cost £125,000, bringing the total to £500,000. however, that extra mo-ney will be used to provide a furnitu-re package and legal advice.”

increasingly, lenders are pro-■■viding mortgages for fractional ownership. Banks will usually ad-vance money on a loan to value of 60 per cent. in the above example, that would mean they would lend 50 per cent of the £125,000, as, ta-king into account the underlying va-lue of the property, that constitutes an LtV of 60 per cent. Crucially, ho-wever, they do not place a charge on the property: rather, the owner gets a certificate and the bank lends against that.

FaCtS! Read more on the web:

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don’t miSS!

yooPhuket, thailandyooPhuket is a 256-room de-velopment nestled in the

middle of three world class golf courses. As well as the golf courses themselves owners will have ac-cess to facilities including a 55m long infinity pool, high-end restau-rant and poolside cafe, as well as a fully equipped gym and business centre. Check with yooPhuket for exact prices.

the K Club, irelandA grand Irish county retreat on the River Liffey in County

Kildare, south of Dublin, it offers 33 properties for fractional owner-ship, and is home to two champi-onship golf courses designed by Ar-nold Palmer. It has hosted 14 Euro-pean Opens and hosted the Ryder Cup in 2006. Prices start at €160,000.

Arcos Gardens, spainArcos Gardens Golf Club and Country Estate is a 440 acre

property next door to the famous village of Arcos de la Frontera in Cadiz. It has a championship 18-hole course that was recently named among Europe’s top 100. In affiliation with The Registry Collec-tion, 10 of the development’s Jaca-randa units are for sale, with a one-eighth fraction starting at €199,000.

the Ritz-Carlton, FloridaThe 285-acre Ritz-Carlton Golf Club & Spa at Jupiter, Florida

provides members with 35 days of luxury vacation living. It features an Audubon-certified Jack Nicklaus Signature Golf Course, a 68,000 sq ft clubhouse, a spa, resort-style swim-ming pool and a Ritz Kids program.

KnoW WhAt’s hot

3steP

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It makes sense...It makes sense...FRACTIONAL OWNERSHIP AT ARCOS GARDENSFRACTIONAL OWNERSHIP AT ARCOS GARDENS

Tel: + 34 956 701 694www.arcosgardens.com/fractional

To receive a copy of our free guide to Fractional Ownership at Arcos Gardens, contact us for

more information or visit our website:

Fractional Ownership at Arcos Gardens simply makes good sense. After all, why pay 100% for a property that you only use for a few weeks a year? With our Fractional Ownership program the purchase price is shared with others. You become a fully titled owner of a luxury villa

overlooking one of Europe’s most beautiful golf courses for a fraction of the cost.

Show houses open | Prices from €199,900 | Golf membership for two people included | Discovery packages available

Start to make sense of life - welcome to Arcos Gardens, Cádiz, Spain

H O T E L | C H A M P I O N S H I P G O L F | D A Y S P A | L U X U R Y R E S I D E N C E S

Why settle for one vacation home when you can have a whole collection? Banyan Tree Private Collection, the first asset-backed Destination Club from Asia offering perpetual membership, gives members access to exquisite villas around the world, while avoiding the burdens of owning a second home. From Seychelles, to Phuket and Tuscany, the ever growing Collection is all yours to enjoy, year after year, forever.

To find out more, please contact us +44 207 841 2759 or sales-london@btprivatecollection.com www.btprivatecollection.com

Australia • China • Croatia • France • Indonesia • Ibiza • Italy • Japan • Korea • Laos • Majorca • Maldives • Mauritius • Mexico • MoroccoPortugal • Seychelles • South Africa • Sri Lanka • Spain • Switzerland • Thailand • Turkey • UAE • United Kingdom

SeychellesPhuket, Thailand Tuscany, Italy

An Advertising insert by MediAplAnet10 · JUne 2010

Panel of exPertsNick TurnerVice President of Development Europe at RCI Wyndham

Christian Jensen-BrobyVice-President of Marriott Vacation Club International

Marina KleimanManaging Director of Banyan Tree Private Collection

Somewhere that has many years’ history of attracting people over genera-tions as a tourist slot, such as the south west of England, Provence and the Cote d’Azur and Tuscany. High end destinations such as Monaco, Majorca and Madeira continue to appeal, as do year round destinations inclu-ding vibrant cities like London, Paris, Rome and New York. In all these cases, it is difficult to access full ownership of a second home at entry level, and in many there is a shortage of properties and very high prices.

The UK. In the past couple of years, we ha-ve seen the travel behaviour of people chan-ging and staying within this country. With airline strikes, ash clouds, expense and heightened security measures, people are staying close to home because it is becoming more difficult and fraught to travel abroad. In addition, a second home in the UK is ea-sier to get to simply because it is closer: you just have to get in the car. Devon, Cornwall, the Isle of Wight and the Cotswolds all look appealing.

London has all the dynamics of a big city which people will go to for business or leisure, and it is a destination people will go to, whatever the time of the year. Hawaii is also seasonally well balanced and as such a year-round destination, and U.S. mountain regions remain popular. Eventually, per-haps, Paris and Barcelona, but currently the price per square footage of property is not high enough to make it worth while for de-velopers. The two elements to look out for in attractive destinations are high hotel rates and high real estate rates.

Somewhere urban. Moscow, Shanghai and Hong Kong are all see-ing above average cost increases and all have the perfect blend of business and leisu-re, which attracts buyers who want one or the other – or both. Also, in all those cases, they are all attractive destinations all year round, which is a very important considera-tion. The Maldives is right for seasonality re-asons – again, it is attractive at every time of the year - and there is a vast demand for lux-ury at a certain price point.

There is a two-fold answer to the abo-ve question. In terms of destinations for our members to use, the world is not enough! In our perspective, having lovely beach desti-nations a short haul away from the main ci-ties has proven successful. Resorts located in Phuket, Bali and Bintan Island are frequent-ly visited by our members, where they have beautiful scenery and are easily accessible to people flying in from abroad. From the pro-motion and marketing perspective Asia and specifically China look the most promising to acquire new members.

China is high on the list and looks to continue to be so as the

economy is growing fast and people have more money to spend. More and mo-

re affluent guests are Chinese and they tra-vel within their domestic borders – which are vast - and which means they need places to stay on a regular basis that are way from their first home. They have purchasing po-wer and they love luxurious private and ex-clusive club memberships, with all the high levels of service that that can provide.

Financially, the entry level is very low in comparison to whole ownership. Annu-al costs are shared with others, so ongoing costs are lower. People often forget that it is not just a case of buying a second home: they have to manage the upkeep as well, which can be stratospherically expensive, especi-ally in very high end destinations. Fractio-nal ownership also gives owners access to very luxurious living at much lower costs than they would otherwise incur. It’s a very smart way to own a second home.

It is a smart way to purchase what is needed for your lifestyle in a location that would otherwise be exorbitantly priced. There are also many other considerations, including the fact that owners may well be serviced by a high class hotel, but over time it is cheaper, like for like, than a hotel room. Then there is the fact that if you are not go-ing to use your property one year, you can put it into the developer’s rental pro-gramme, thus maximising the ren-tal fee you receive and making a re-

Having the access to multi-million dol-lar residences at a fraction of the price is a great advantage. On top of that, the flexibi-lity of destinations and choosing when you want to travel is very enticing for fractio-nal owners. In our case, we also have the fa-mous award-winning hotel and the service it provides behind us - Banyan Tree Hotels and Resorts is famous for high levels of ser-

vice, privacy and idyllic locations, all of which are very attractive for mem-

bers.

Question 1:Where, in your opinion, is the best place on earth for Frac-tional Properties or Destina-tion Clubs?

Question 2:What is the biggest benefit to purchasing a Fractional Prop-erty or Destination Club?

Question 3:Where is the next big desti-nation going to be?

get expert advice!

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Your exclusive visitFractional Expo in London

There are now a select few exclusive apartments available for purchase through Fractional Ownership with De Vere and we are offering 10% off the usual purchase price of £54,950. This means prices now start from £49,455 for 4 weeks with your first years’ management fee’s all paid for. This home from home is then entirely yours to use for the weeks you select.

Fractional Ownership

For the first time ever De Vere will be attending the Fractional Expo in London on 13th-15th September. Come along to find out more about our luxury apartments.

Join us for one night and two days’ blissful relaxation, including a round of golf or spa treatment, at a special rate of just £169 per room. To make a reservation today,

call 0844 980 0490

Terms & conditions apply. See website for details.

This view could be yours