By Steve Taggart
I think I can speak for most of us, when I say we all would like a central London des res, for the price of a flat in a down market part of town. It is the stuff people dream of, and the type of conversation that can be overheard in every London gastro pub most evenings. The kind of loose chat you have after five pints of the local guest ale (and no you couldn’t still make it as a professional footballer aged 37) Well it appears it might actually be a possibility (to buy a dream home that is, not score for Spurs in the FA cup final)
Shared equity ownership specialist, Rocksure has recently announced its very first dedicated London Fund offering shareholders the chance to own a stake of prime London residential real estate for a fraction of the usual cost.
Born out of a desire to change the format of traditional second home ownership and create a flexible and intelligent means of owning multiple properties, Rocksure pioneered this property ownership model over 8 years ago.
Linking annual usage with a planned exit strategy, the London Fund offers its shareholders co-ownership of four, two bedroom, two bathroom apartments and townhouses to be purchased in boroughs such as Kensington, Chelsea, Westminster and Covent Garden for just £245,000.
For this one off capital sum (plus modest annual dues), investors will enjoy an average of 18 nights usage per year at their choice of apartment and rest safe in the knowledge that their property is professionally managed and maintained by the Rocksure team.
Each stay is accompanied by regular maid service and access to a dedicated concierge and all properties will be luxuriously furnished and equipped. What is more, as well as enjoying the properties themselves, owners may also lend their apartments to family and friends and, if necessary, roll excess nights forward to the following year.
Providing a planned exit strategy, the life of the Fund will be ten years, at which point all properties in the Fund will be sold and any capital gains repatriated amongst investors.
Launched in tandem with the London Fund is the Manhattan Fund which is based on a very similar model. Full unit investment is $350,000 and entitles shareholders to an average of 21 nights of annual usage. Properties will be purchased in areas such as Midtown, Upper East Side and Lower Manhattan.
Of the latest launches, Founding Director David Rogers explains ‘We are delighted to be launching our first London and Manhattan Funds and excited at the prospect of opening up both markets to our investors. These are two cities that are perennially attractive and promise an exceptional lifestyle coupled with strong growth potential. The Rocksure ownership model has been carefully crafted to offer shareholders the chance to own real estate in both these cities for a fraction of the cost of whole ownership and to use them at considerably less than the cost of renting comparable accommodation.’
For more information visit www.rocksure.com