PENINSULA | WHAT THE MEDIA SAYS

MY HOME IN THE SUNSHINE

SPAIN Autumn 2006

Play golf & Skit might sound a contradiction in terms, but fancy

owning an overseas property and having to rent

it yourself if you want to stay in it.

Scratching your head wondering what the catch is. Well, there isnt one if you see the property as an investment.

Peninsula is offering a unique deal at its Granada development, Medina Elvira, a large development on the foothills of the Sierra Nevada. This has neves been tried before in this kind of propertymarket, explained, Gaspar Lino, chief executive of Peninsula. What we are doing is applying every day business methods that are successful in other business areas.

Medina Elvira is a seven year project, based around an 18 hole championship golf course, which will have 2,500 units, ranging from one bedroom apartments to four bedroom villas. Although inland, the development is in an area of unsurpassable beauty and will appeal to visitors all the year round. The ski slopes of the Sierra Nevada are less than an hours drive away in winter, while there will be the opportunity for year round golf and other activities.

The complex will also, when finished, house a club house, luxury hotel, spa, tennis courts, have its own supermarkets and shopping arcades. The historic city of Granada, housing the world heritage site, the Alhambra, is only 10 minutes away and the coast 45 minutes.

Added Gaspar: We are offering people guaranteed rental return for up to 10 years of 5% of the purchase price. People can sign over their property to us for 2, 3, 5 or 10 renewable years. There are no catches, the owner holds the freehold. It doesnt matter how many weeks your property is occupied or not you will receive a guaranteed 5% renal, index linked, fot the contract period. Peninsula will be wholly responsible for the property, maintaining it throughout to its original high standard.

This way purchasers can be assured pf payment towards anymortgage. The owners will also be able to stay in their own properties at reduced rates and any other resort managed by Peninsula.

For people who do not want to tie themselves in this way, the company offers an alternative, more traditional renatl approach under which owners have the fleibility to state when they wish touse their property and when hey are happy for it to be rented through Peninsula with possible returns of 10- 15%.

Said Gaspar, 35,: I put myself in the position of a client. I asked myself what do they want? What are their problems? Selling properties is not about forcing people to buy. It is about taking the headaches away..covering the mortgage, providing the best environment and facilities.

Both our schemes take the worry out of having to pay a mortgage and not having any rental. That sort of situation turns a dream into a nightmare.

Contact : Frederic Fourest ier

f rederic@peninsulapm.com

Tel . 0034 952 90 20 20

Granadas historic Alhambra