AppassionataFractional Ownership                        “I own a country house in Italy with a                      swimmi...
Property Management & Annual Service ChargeTo ensure that Appassionata’s Estate and                 These annual dues cove...
Q&AFractional Ownership1. Is the property offered ‘deeded property’?               A right over the specific property as w...
Q&AFractional Ownership12. Are there any fees in addition to the               The property is owned by a non trading, UK ...
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What Is Fractional Ownership Guide


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A guide to Fractional Ownership at Appassionata

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What Is Fractional Ownership Guide

  1. 1. AppassionataFractional Ownership “I own a country house in Italy with a swimming pool, tennis court, vineyard and wonderful sea views. This is true whether you own five weeks or the property outright”What is Fractional Ownershipat Appassionata? Residency The Residency Calendar ensures owners have annual access to the peak months; it is simpleBoutique and luxurious, family owned Appassionata’s Estate Giacomo Leopardi to operate and provides flexibility for all.Appassionata offers a simple way to own an is owned by its members, through a UK basedoverseas property for a fraction of the cost non-trading company (Appassionata Giacomo Using the annual reservation system ownersthrough Fractional Ownership. Fractional Leopardi Limited). will reserve 2 consecutive weeks over the peakOwnership allows a number of buyers to period (May to the end of September) andcollectively own a luxury property, which is When members wish to sell, gift or transfer then reserve their remaining 3 weeks duringprofessionally managed and maintained. their membership it is a straightforward October to April, in any combination, on a process which can also be executed easily from rotating priority basis.As a lifestyle investment, Fractional Ownership overseas. It does not involve the complexity ormakes sense. On average, a holiday homeowner cost of transferring property under the Italian There are 10 owners in the priority system foronly uses their property for 40 separate nights legal and tax system. each residence. Priority is established by whobut pays for the entire year. Fractional owners became an owner first, then second and so on.don’t have the financial burden of maintaining In simple terms: Each year owners move up the priority list,the property all year round; they simply split e.g. if you are fifth one year you are fourth thethe maintenance fees with fellow owners.Appassionata’s owners buy a 1/10th interest in ‘The Members own the next, etc.their residence of choice, which allows five Company - the Company To ensure equitability, the owner who has firstweeks residency each year. Appassionata’sowners are investing in ‘bricks and mortar’ owns the property.’ choice for the selection of peak weeks will have the tenth choice for non-peak weeks.The– an asset which can be passed on to family. management company hold two weeks for maintenance purposes that can also beThis includes shared ownership of the common The Lifestyle Investment exchanged if necessary. Weeks can beareas of the Estate, which is made up of: exchanged with co-owners, used by friends A 1/10th fractional share (5 weeks ownership and family or rented to a third party.n The communal gardens every year) starts at £105,000 pounds – Forn Swimming pool Casa Giacomo The reservation process takes place each yearn Tennis court in September/October where owners choosen Olive groves These prices are subject to regular review and their weeks for the following yearn Truffle orchard will be increased over time.n Vineyardn Lavender plantation
  2. 2. Property Management & Annual Service ChargeTo ensure that Appassionata’s Estate and These annual dues cover various costs, including: All expenses are charged on an actual cost basisproperties are always luxuriously maintained, an n Housekeeping (handover cleaning, linen and are fully available for review by owners.annual service charge is payable by each owner. and towel changes) n Arrival provisions Any differences with expenditure will be eitherThis charge is calculated on the total running costs n Essential foodstuffs charged or refunded after the accounts areof the estate and is divided between owners n Maintenance (pool cleaning, gardening, finalised each year. The annual service charge perequally. vineyard, olive groves and general fractional share is estimated to be £2,800 for five maintenance) weeks of ownership.This is one of the great benefits of fractional n Company legal/accountingownership and reduces the liability you have for n Building and contents insurance Professional management is provided bythe running costs of the estate. It also allows you to n Capital reserves (sinking fund for replacements Appassionata, whose studio is a mere 10 minutesarrive at your holiday home, ready to start your and future decoration); without the normal anxiety you may feel if n Utilitiesyou owned the property outright and were n Property taxeswondering what your first job may be! n Management charge Inspection Trip & Application Process To truly appreciate the incredible venture on Michael Hobbs and his wife Dawn Cavanagh- This consists of a two night stay at a nearby offer, we strongly recommend a visit to Hobbs, founders of Appassionata, are offering a guesthouse 50% paid for by Appassionata, a experience the wonders of Appassionata’s Estate wonderful opportunity for those interested in complimentary tour of the properties and the Giacomo Leopardi and the beautiful area of Le visiting the estate. area as well as a fantastic meal with the Hobbs so Marche. you can sample some of Le Marche’s exquisite cuisine! Benefits – A Lifestyle Investment A key reason people invest in fractional owners to carry out maintenance, they benefit The lifestyle Appassionata brings to owners ownership is to reduce their responsibility. from less expenditure and professional allows them to connect more deeply with the management on hand. lifestyle and culture of real Italy. When taking a holiday in their home from home they do not want to worry about management Fractional ownership is more than just Let Appassionata deliver you the perfect Italian and upkeep, they merely want to relax in the ownership of a vacation home; owners easily Idyll, an Arcadia by the sea and the mountains all beautiful scenery. maximize their overall experience as well as their for you to own a piece of… savings and are delivered a high quality, luxury With a fractional property there is no need for lifestyle. Key Benefits of Appassionata Fractional Ownership: n Increase your buying power n A low one off purchase cost – without the n Easy transfer or sale of membership in the n Membership gives you full access to the normal Italian legal and tax complications UK Company at any time property and Estate grounds for each n All annual running costs shared between n A long term relationship with this wonderful residency week owners which are fully transparent and cost untouched part of Italy n A share of wine, olive oil, truffles and based lavender produced from the estate owned n Professional on-going local management vineyard, truffle orchard, olive groves and lavender plantations
  3. 3. Q&AFractional Ownership1. Is the property offered ‘deeded property’? A right over the specific property as well as 9. If I decide to purchase a fractional share in a common areas of the Estate, this includes: property, can I change my mind: if so, by Yes, the property deeds are owned by a UK when? based company (Appassionata Giacomo n The communal gardens Leopardi Limited). Members own the Yes, of course. We allow a 14 day ‘cooling off’ n Swimming pool company, the company owns the property. period after we have received your completed n Tennis court application form, just in case you should2. Are the weeks offered fixed or variable? change your mind. n Olive groves The weeks are reserved each year on a 10. What is the process if I wish to sell my rotating priority basis, to ensure each owner n Truffle orchard fraction in the property at any time in the always receives 2 weeks in the peak season n Vineyard future? and 3 weeks in the off peak season. 6. What fees do you charge? You are free to sell your fractions at any time,3. Is the building completed yet? at a price that you agree with the purchasing There are no application fees. The newly built, four bedroomed Casa party. Re-sale of a share in an Appassionata Appassionata charges an annual maintenance Giacomo is ready for occupation. The five property must first be offered to existing fee which is costed and equally split between bedroomed, traditional farmhouse Casa owners, through Appassionata, before offering all of the owners. Leopardi is currently being restored. to a third party. Appassionata will assist 7. How long has the company been operational? owners in the sale of their membership if they4. How much does it cost? desire. Appassionata Ltd. has been operational since The price for a share in Casa Giacomo is 2004. 11. How does one book for popular holiday £105,000. Casa Leopardi’s shares are periods e.g. school holidays, and what booking currently set to launch at £165,000 each. 8. Can I visit the property before buying a share? system is in place e.g. first come first served5. Exactly what does ownership include? Yes, we would strongly recommend an and is there any priority amongst owners? inspection trip as soon as possible. For those A 110th fractional share (5 weeks ownership) of / You will get an opportunity, on a rotating who are truly interested in knowing more we Appassionata’s properties includes: priority basis, to book these periods and you are offering a wonderful opportunity to visit can always exchange weeks with other owners n A share of wine, olive oil, truffles and Le Marche. as well as the service weeks held by lavender produced on the estate owned Appassionata. Furthermore, your weeks can vineyard, truffle orchard, olive groves and be exchanged with co-owners, exchanged with plantations fractional owners all over the world through the, used by friends and family or rented to a third party.
  4. 4. Q&AFractional Ownership12. Are there any fees in addition to the The property is owned by a non trading, UK fractional property purchase? registered, limited liability company which has been established to operate the estate on No behalf of all its members. There is no external13. Does the company have plans to raise funding for this project; the cost of the prices – if so, when and by what rate development and purchasing the land has and what factors would influence such been funded by Appassionata Ltd through an price increases in the future? inter-company loan and can only be repaid as fractions are sold. Appassionata has positioned its initial fractional purchase costs at a very 17. What do you believe are the strengths competitive price. It is intended that these and weaknesses of the company and prices will increase over time to reflect the properties available and why should I true value of the development. ultimately buy this one in comparison to the choices available?14. Are there any ownership rules – e.g. are pets and is smoking allowed? Appassionata is set in the wonderful region of Le Marche which boasts a tremendous House rules will be made available as part of combination of history, culture and leisure the application process, two important rules activities. This is real Italy, where many are that pets cannot be accommodated and Italians take their annual holidays. The two smoking is not allowed inside any of the properties on the Estate Giacomo Leopardi properties. are beautifully positioned, with sea and15. What other amenities can I expect at mountain views. The quality of the the resort? construction, interior furnishings and facilities reflect a truly luxurious proposition. The Estate of Giacomo Leopardi has an all Appassionata is not only the developer but the weather tennis court (with basket ball net), provider of the property management. large 15m x 6m swimming pool, newly planted vineyard, newly planted truffle farm, Appassionata is a small boutique olive groves, lavender plantation and business, and provide on-going wonderful, landscaped gardens. The website management; we are not a large has further details in the property section. faceless commercial organisation.16. Who owns the properties at present Our pricing structure reflects and what happens if the property tremendous value and is hard to company fails? find in an equivalent development. Please come and see for yourself!