seeff fractional ownership h istory current scope costing consideration – feasibility concept...
TRANSCRIPT
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SEEFF FRACTIONAL OWNERSHIP
History
Current scope
Costing consideration – Feasibility
Concept & Processes
What the market is asking for
Re-sale market and ROI
Exchange Platforms
Challenges
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HISTORY
Fractional in ‘03 and Converted to a Seeff
license in
June 2005 – Seeff Fractional Ownership.
The power of the brand.
Success to date.
Decline during meltdown.
Product offering
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CURRENT SCOPE
South African regions where fractional sales are predominant:
Exclusive Golf Estates – Why… they offer freedom for children, the hotel & spa’s for all, the golf for the family & the tranquillity for everyone
Golfers only – 40%
KZN, Western Cape and Wildlife Estates currently highest demand
Garden route also popular.
Cape Town and KZN Apartment blocks
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Project has to conform to a legal model
The project needs to be registered with VOASA
Full disclosure
True value needs to be considered to maximize R.O.I. & credibility of the industry
In SA a 100% return in 5 years is expected in property. Our shareholders expect the same and better
Re-sales have generated the credibility
COSTING CONSIDERATION - FEASIBILITY
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Once we have established the demand in a particular resort/destination we generally purchase a Villa/Lodge/apartment or land and develop. Below proving our expertise in this field
Design….and there are various factors taken into account.
Brief & manage architects & planning phase. Develop & facilitate in project management. Interior design. Engineers & Landscaping. Finance, accounting & collections processes during
build period.
CONCEPT & START-UP PROCESS
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Concept - continued
Register a company, then on - sell to 13/26 investors.
We collect all payments & once all done & suppliers paid, we hand the
Villa over to its shareholders.
Manage snags.
Manage Villa on shareholders behalf to create hassle-free holidays
and further facilitate rentals, exchanges, swaps & re-sales.
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WHAT THE MARKET IS ASKING FOR
Golf estates Villa’s
Wildlife Estate Lodges
Apartments in sought-after destinations
Predominant sales before recession, during and after
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The SFO Business Case You cannot over-value a Fractional property Unless the feasibility is executed with utmost care, the
business case will fail
The market needs to be assured that capital growth remains relevant
Re-sales creates credibility to the industry Last 20 statistics End user finance will play a role in future Rentals a large motivator and instills credibility Management company essential
RE-SALES & ROI
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Roster system does not always suit school - going families
Interest remains in the appreciating asset, but the shareholder can enjoy the product globally
Gives investors options – in SA & globally Maximising the experience Exchange platform options
EXCHANGE PLATFORM
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WEAKNESSES IN CURRENT FRACTIONAL MODEL
• Only ONE - End - user finance