PRICE: R330 000 per share
When it comes to residential developments, Bela Bela (Warmbaths) is probably one of the fastest-growing towns in South Africa. The area's proximity to the N1 and the fact that the R101 goes right through the town have earned it the reputation as the "Gateway to the Limpopo Province".
Bela Bela is a popular inland tourist destination due to major attractions such as the Forever Resort (formerly Aventura) and approximately 100 game lodges, of which several boast the "Big Five". this has attracted a host of foreign as well as local tourists, especially those from Gauteng. With more and more developers focusing their attention on Bela Bela, the future looks vibrant for investors.
Imagine walking into your exquisitely-finished bushveld home-away-from-home after a tough week at the office ... open up the glass sliding doors on your patio, arm yourself with sundowners and survey the watercolour African sunset from your favourit spot at your swimming pool. Each house is finished with granite tops, upmarket leather lounge suites and a LCD television (DSTV installed). Properties are designed with a boma and a pool, facilitating all the luxury of city life ... in the wild! The design theme is tastefully African, with ethnic artefacts adorning each house.
- Thatched roof
- Tasteful African decor
- Highest quality furnishings and fittings
- 3 En-suite bedrooms
- Own pool and boma
- Lounge and entertainment room
- DSTV / LCD TV
- Built-in braai
- Double garage
- Serviced daily
The purchaser physically acquires a percentage (%) shareholding in a private company that onws the property. Your receive a share certificate and the ownership form allows you the use of the property on a certain number of allocated weeks depending on the percentage of shares you have purchased. This fractional ownership opportunity provides for 3 - 13 shareholders in the relevant property. Example - 13 shareholders: 1/13 share will equate to a 4 week usage per shareholder per annum on a rotational basis.
The property will be managed by the Seller, who has the infrastructure and expertise to manage all the related aspects of the syndication, should the shareholders so wish.
The Seller has developed various utilisation rosters for an array of properties. Preferred usage is different for every resort and area and rosters are developed for the maximum utilisation of the owners. A specific roster is designed for each property before the efective date of the syndication. In most of the roster systems the usage weeks are rotated on an annual basis. This means that if "shareholder 1" uses the property for the first week in December, next year he will use the second week and week three the year after that. Therefore all the shares have the same value and all shareholders will have equal opportunity to use the property in peak periods. The Seller originally sets up the roster for a period of at least 10 years. Every shareholder thus knows exactly what periods he will have usage. Again this is at the shareholder's discretion should they want to change the roster in future. Weeks can also be swapped on an individual basis.
The monthly levy varies from one leisure estate to the next and also according to the size of the residence which will include estate levies, maintenance, cleaning, gas, electricity, water, sewerage, property taxes, DSTV, insurance, bookkeeping, audits, etc.
BENEFITS OF FRACTIONAL OWNERSHIP
- Any increase in the value of the property accrues to the shareholders. This is the major differentiating factor between fractional ownership and timeshare.
- Fractional ownership is better value for money - you only pay for your utilisation and not for the remainder of the year.
- Fractional ownership is affordable ownership in any number of exclusive destinations.
- The most exclusive addresses in South Africa normally increase in value faster than other residential properties would.
- Providing all of the relevant property shareholders agree, sub-letting of the member's weeks can be accommodated.
- Shared costs mean lower maintenance costs per shareholder.
- Higher occupancy, together with advanced Estate security systems mean that you have less concerns about your property's security.
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