Fractional Ownership News

De Vere expands its fractional ownership offering

De Vere has expanded and relaunched its fractional ownership offering in a bid to make its properties more accessible. The company is selling fractions of two-bedroom apartments in the Mansion House at The Carrick, part of the Cameron House resort on the banks of Scotland's Loch Lomond.

Sam Broster of De Vere Seasonal Ownership told Fractional Life: “In the past we only sold quarter share fractions, which entitled buyers to 12 floating weeks throughout the year. These were priced from £195,000. But what we've decided to do, due to the economic climate, is to make our fractional offer more appealing. We've already got a great product but we wanted to make it more accessible from a financial point of view. So we've decided to make the offer more flexible by selling four-, eight- and 12-week fractions, with increasing benefits (including spa treatments, airport shuttle service and wine) according to the size of your fraction.”

“We've started the prices for four-week fractions at £54,950, and because we're launching the product this year, we're offering an extra ten per cent discount on that price. So we've got a great entry price of £49,450. We think that's great value for money considering the quality of the product. We've come up with what we think is a very fair usage system, and we also want to encourage owners to get to know each other so there is also an informal system for trading weeks if they want to, giving them added flexibility. It's also important to create a sense of community on the resort, and this will help in this respect too.”

Ownership includes membership of The Carrick Golf Club and The Carrick Spa clubhouse, and the first year's management fees are free for all purchases made in 2010.

Buyers can bank their weeks with De Vere and use the company's internal exchange system, which includes Slaley Hall in Northumberland, Cameron House, and Belton Woods in Lincolnshire. The company is also affiliated with Interval International, and is aiming to get The Carrick into the Preferred Residences network. Owners can also rent out some of their weeks, either through De Vere or privately.

Broster says the company has already seen considerable interest in the new fractional offer, both from individuals looking at an accessible lifestyle product, and from companies too. “We're trying to attract the corporate market, so for example a company could entertain clients for three of its four weeks, and perhaps reward their top salesman with a week too. This is also a great venue for hospitality days, linked with our golf course. We're on great sites, with great hotels, great facilities and some wonderful golf courses, and all of these appeal to our corporate clients.”

www.devere.co.uk

11/05/10

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