Villages Nature?

[DLPDreams]

Are there any recent updates on this? It seems to be rolling on and on. I'd be interested to know how the properties are going to be sold - on what basis etc.

If it were a bit like DVC that would be great. But from what I gather, from the small info I've found, it looks like an outright purchase?

I know a recent podcast mentioned some info, but I need to watch it still!

 

[DLPDreams]

After doing a bit more digging. I found this property for sale via Savills... Hope I'm allowed to post the link.

http://www.rightmove.co.uk/overseas-property/property-30498531.html

 

[Ms Poppins]

I hadn't heard of this before - looks interesting

 

[DLPDreams]

Hi Julie

Yes, it does look great, but at a price! If the properties are that price to buy, how much is is going to be to rent one for a week! A great investment if you have £200k sitting around though.

 

[Ms Poppins]

Let's hope our numbers come up

 

[DLPDreams]

Yes. I don't play the lottery but my Mum does without fail - I've already put my order in with her in the event!

 

[Jonjo]

They have been on sale for quite a while now off plan, there is a showroom in Paris. The cheapest one / two bedrooms ones were around £160,00 when they started to sell them last year.

There are some good Tax perks too, but being Center Parks the annual charges are high and the forced refurbishment every few years can work out to be very expencive.

Like all rental schemes they have their perks and problems.

Lot's of details on the offical website here:
http://www.villagesnature-invest.com/en

 

[DLPDreams]

I don't understand about the annual charges Jonjo as I thought there weren't any? I appreciate they take a cut of the rental income and thought this was where they got their money. In everything I have read, I have seen 'no maintenance charges' as a pro!

Yes, the tax perks certainly seem advantageous.

I understand about the refurbishment every few years and while it can prove expensive, often a lot of the capital investment can be offset and it really is in an owner's interest to keep the place updated - I'd imagine it would be impossible to command the inevitable high rents without that really.

£160,000 would have been much more manageable than £200,000 plus.

 

[Jonjo]

The major thing that put me off is the 10 year lease, and the possibility of refusal of renewal. You would get compensation but they always off set their calculations and you are out of pocket.

Center Parks creap in an annual service charge usualy at the end of the first 5 year or 10 year lease period, they never advertise it on new developments but after a while they will appear on your bill, so it decreases your rental income.

I just don't like the idea of a forced refurbishment, sure they have to keep the property looking nice but you have no say what so ever in the materials used, equipment installed etc and the costs are very high as you have to use their own contractors. A 5,000 Euro refurb could cost you up to 25K.

 

[DLPDreams]

Yes. I wasn't that keen on the 10 year lease either. As you say, if it's refused after that, where do you stand. I think they operate a compensation package as you say, but it wouldn't cover the majority of your costs/investment.

They must be selling though if they can put the prices up while still off plan!

 

[Jonjo]

I think it's a case that the limited number of one bedroom appartments they had have been sold, and now it's the larger two bedroom appartments and three and four bedroom properties are now on the market.

Some investors have already sold their one and two bedroom appartments already and the resort is not even open and the buildings not finished yet.