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Overseas Property News
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David Lloyd expands the market for overseas property investment and ownership
Country: Barbados, Carribean; Canada; Cyprus; Spain; Thailand; Turkey
Former tennis ace and entrepreneur David Lloyd, Chairman of David Lloyd Resorts – the worldwide property and vacation specialists - has launched a ground-breaking alternative investment fund and ingenious vehicle designed to facilitate ownership abroad. The David Lloyd Resorts Investment Fund – made up of 5 and 7 year closed funds will capitalise on the tremendous opportunities in the global property market and will enable investors to purchase equity within a diverse range of assets selected and managed in line with David Lloyd Resorts´ proven business model. The fund will buy apartments, penthouses and villas located in prestigious world wide resorts with leisure facilities in the popular destinations of Barbados, Canada, Cyprus, Spain, Thailand and Turkey. Offering a target IRR of 10-14% per annum, the fund proposes to distribute 4% income per year to investors in addition to the projected capital growth of the assets over the term. David Lloyd explained, “Traditional investments have come under enormous pressure in recent years so the need for alternatives has increased. This has mass market appeal for those that prefer to buy into real assets. Our entry into the market with the benefit of a proven track record and strong brand could not have been timed better. We already know from the amount of initial pledges that it is going to be successful.” Key properties from David Lloyd Resorts´ worldwide portfolio are placed into a Limited Partnership structure offering capital growth over the term and secured annual interest on the original investment. This is made all the more attractive because of Lloyd´s ability to bundle discounted high quality property offering investors immediate value. Property developers have proven keen to work with Lloyd because they recognise the value of the brand and consequently the company has purchased assets at an average 16% discount off the current low market values after purchase costs. The Investment Fund has been specifically constructed to target Individual and pension investors and has ensured compliance with HMRC and FSA regulations. Lloyd explains, “The structure has been refined to fit in with the market conditions that are likely to prevail during the best part of the next decade. We need to assure potential investors that we have done our homework thoroughly and that the projections stack up.” One of the key benefits of the fund structure will be the ability to use SIPP and SSAS contributions. Lloyd continued, “With a minimum investment of £20,000 and a bricks and mortar underlying asset base this fund could suit many people. We know intermediaries will welcome the chance to take something genuinely different to their clients. The potential market for this product is enormous.” David Lloyd Resorts is also launching a lifestyle product in the form a unique and financially astute way of purchasing and owning abroad. Shared ownership in properties in exceptional global resorts with a host of sporting and leisure amenities will enable purchasers the chance to share in and enjoy ownership in properties that may have otherwise been unaffordable. Shared owners will not only hold equity in their vacation property which guarantees two weeks occupancy rights but also benefit from two additional weeks vacation elsewhere in the world through a flexible resort exchange programme.
May 2010
See Also: Barbados, Canada, Cyprus, Spain, Thailand, Turkey
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