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Date:
January 12th 2007 -
Publication:"Property
Week" -
Title:
"Holiday
Season for Rocksure"
Author:
Rocksure Property the overseas
property fund manager set up by travel industry veterans David
Rogers and Desmond Patrick-Smith....read
more>>
Date:
December 20th 2007 -
Publication:
"Profile Magazine" -
Title:"Share
and Share Alike"
While many
people dream of owning a second home overseas, they are, in
reality, put off by the responsibility, hassle and confinement
to one destination. For those of you who want a little more fun
and a little less hassle, the newly opened Bravo Fund will
comprise six properties
hand-picked in some of the world's most stylish locations -
Brazil, Thailand, Morocco, The Algarve, The Adriatic Coast and
The Rockies.
Rocksure
Property launched its first fund, the Alpha Fund, in July 2006.
A pioneering formula of second home ownership, the Alpha Fund
closed in July 2007 with more than £5.7 million in
subscriptions. Following this success, Rocksure has recently
announced the opening of the Bravo Fund, which is offering
subscriptions at £189,000 per unit with a maximum of 40 units
available.
The Bravo Fund
will include six properties, all of which can be used by
shareholders and their families rent-free for several weeks a
year. Shareholders can enjoy a collection of million-pound
homes, furnished to high standards, and being located in
different countries, their Investment risk is spread; the fund's
advisors have strategically chosen properties that should be
excellent investments and collectively offer year-round
sunshine.
So how does the
Rocksure Property Bravo Fund work?
There are 40
units available in total. Subscription cost is £189,000 each, so
the fund will total £7,560,000.
The fund will
purchase six properties around the world for an average price of
about £1 million each, plus furnishings.
A full unit
entitles the owner to an average four rent-free weeks each year
at any of the houses at any time, subject to availability.
The minimum
investment is a half unit at £94,500 (an average of 2 rent-free
weeks per annum). Three quarter units are also available at
£141,750 with an entitlement of an average three rent-free weeks
each year.
There is an
annual management and maintenance contribution towards the
running costs of the houses, which will be £1,800 per full unit
in 2008. This is the only extra cost which needs to be
anticipated. Properties can be enjoyed by the shareholders as
well as their families. If shareholders do not wish to use their
full entitlement of weeks in a particular year (or indeed every
year), they may ask Rocksure to let the unwanted weeks; the
shareholders will receive 60% of the net rental achieved, so the
letting of just one week should eliminate the annual management
and maintenance contribution.
The six
locations have been selected because the Fund believes that they
offer a high chance of strong capital appreciation and because
they collectively offer year-round sunshine, plus world-class
golf and skiing. The properties will consist of detached homes
with an average individual value of £1m. Each home will have
four to five bedrooms accommodating parties of up to eight to
ten people. They will be furnished to high standards and
specifications and will be looked after by a housekeeper and
cook who will prepare meals, as well as a maid and part-time
gardener/pool maintenance person as required.
The sporting
and leisure facilities available will obviously vary widely from
destination to destination, but a Rocksure representative will
assist with advice and access to equipment hire, ski passes,
golf tee times and other reservations where needed. Many of the
houses will be equipped with a massage bed and arrangements can
be made with a masseur to come to the house by appointment.
A comprehensive
menu of services will be available in each house (via a link
from the shareholders' private website) and a Rocksure local
representative will be available by mobile phone during certain
hours of each day in order to provide further advice, assist
with bookings and ensure that the holiday goes smoothly. The
Rocksure representative will also provide support in event of
emergencies.
The concierge
service will co-ordinate reservations and supply all the
important 'inside' information on every location such as where
to eat, what to see, the nearest beaches, the best ski runs,
cultural attractions, golf courses, tennis, biking, riding,
fishing, rafting and so on. Babysitters and nannies can also be
booked at an extra cost.
Shareholders
have optional access to The Private Travel Company in London, an
upscale retail travel agency that can provide good value
business and first class airfares to long-haul destinations,
among other travel services.
David Rogers,
the founding director of the fund says, "Wealthy time-poor
individuals are realising that, instead of enduring the grief
and hassle of second home ownership on the continent, where it
is cold and wet for nearly half the year, it makes sense to
invest a fraction of the amount in co-ownership of multiple
overseas properties offering year-round sunshine plus
world-class skiing and golf. Ownership of the real estate is
the key."
Individuals
need to register their interest to join the Bravo Fund and will
then be sent further details. To comply with FSA rules,
Rocksure must receive a completed Certified High Net Worth form
before Strutt and Parker Real Estate Financial Service can send
out a copy of the Private Placement Memorandum.
Back to Top
Date:
December 14th 2007 -
Publication:"Country
Life" -
Title:
"Make Money from your Holiday Homes" Author:
Holly Kirkwood
A new investment fund which aims to provide members with
holiday weeks in houses all over the world has been launched by
two businessmen with a proven track record in the game
An opportunity for investment, plus access to luxury houses
all over the world, has been launched by two figures familiar
with international travel and property. David Rogers and Desmond
Patrick-Smith, Founders of Rocksure properties, previously
worked for tour operator Abercrombie & Kent who dealt in the
luxury travel market internationally.
Their first venture, termed the Alpha Fund, which let investors
stay in properties they had invested in, and then make their
money once the fund is dissolved, was a roaring success and they
are now steaming ahead into their second phase of their plan.
Rocksure has now launched the Bravo Fund which will have six
properties in Brazil, Thailand, Morocco the Rocky mountains, the
Algarve and the Adriatic coast. For £189,000 (the cost of one
unit) you receive an average of up to 4 weeks at the properties
each year, made up of an average of two high season weeks and
two mid season weeks. The fund lasts seven years, and once it is
dissolved investors receive whatever profit has been made by the
properties in that time, minus a fee taken by Rocksure for the
administration of the fund.
All the properties are worth an average of £1m, and they have
been selected both for their high quality and their potential to
accrue value during the lifetime of the fund. Rocksure aims to
give members a chance to stay in different parts of the world;
from ski chalets to beachfront villas - in fantastic comfort,
while making money at the same time. The Bravo fund closes in
the spring next year, and a third find is planned to launch in
the summer.
Back to Top
Date:
November 20th 2007 -
Publication: "SherpaReport.com." -
Title:
"Rocksure
Property
Bravo Fund" Author: Nick Copley
Rocksure Property is
launching a second fund to buy 6 luxury homes around the
world, with an average value of £1m ($2m). Members of
the fund enjoy free vacations and property appreciation.
This fund follows the success of their first "Alpha"
fund, which closed for new subscriptions in July.
The
Homes
The London based fund plans to purchase its six homes
in Buzios, Brazil, Phuket, Thailand, Marrakech, Morocco,
The Algarve, Portugal, the Adriatic Coast,
Croatia/Montenegro and Breckenridge, Colorado.
Membership in the fund provides both a luxury
vacation option and an investment, so the homes are
chosen on two factors (i) the potential for appreciation
and (ii) collectively they offer year round sunshine,
world class golf and skiing.
The luxuriously furnished homes will have four to
five bedrooms and accommodate up to 10 people. Each will
have a housekeeper/cook who will prepare meals as well
as maid and part time gardener/pool maintenance person.
The Services
A Rocksure Representative/Concierge will coordinate
reservations and provide inside information on what to
see, places to eat, etc and will be available to provide
support in the event of emergencies. The concierge can
also organize nannies, private chefs and masseurs.
The concierge will also help with sports equipment
and facilities such as ski equipment, access to golf
courses and tee times and information on tennis,
fishing, horse riding, mountain biking, sailing etc
The Fund & Membership
The
Rocksure Property
fund is planning to sell 40 units at £189,000 ($378,000)
each to raise a total of £7,560,000. Each full unit
entitles the owner to 4 rent free weeks each year, and
the only other payment is £1,800 per year towards the
management and maintenance of the homes. The fund will
also offer both half and three quarter units.
The Bravo Fund will have an Initial Closing when the
subscriptions have been received for 20 out of the 40
Units of investment. At this point, the investors money
transfers from an escrow into the Fund account and the
purchasing of the first three houses can commence. The
Final Closing is expected to take place about 3 months
later at which point all the money is in the Fund's
account and the remaining three properties can be
purchased. After 8 years the homes will be sold and the
proceeds divided amongst the investors.
The fund also plans to rent out the homes for 20-25%
of the time and the rental income will be used to offset
the operating costs.
The Management & Background
The initial Rocksure Alpha fund raised £5.7m from 38
investors earlier this year, and has already purchased 5
homes in Breckenridge, Marrakech, Phuket (images above
and right), Buzios, and the Algarve. So the management
team already has the experience of setting up and
running one of these funds.
The management of Rocksure includes David Rogers a
former COO of Abercrombie & Kent and Desmond
Patrick-Smith a former managing director of Abercrombie
& Kent Europe, so there's also plenty of luxury travel
experience.
When we spoke to David Rogers yesterday he noted that
the equity structure of the fund is very much designed
to appeal to a UK audience. He feels that Brits are much
more focused on the potential returns from owning real
estate, rather than just enjoying the luxury homes as
part of a more traditional destination club membership
structure.
Back to Top
Date:
November 15th 2007 -
Publication:"City
A.M." -
Title:
"Rocksure
Property" Author:
What is it?: A
property investment fund that promises shareholders : “ A house
for all seasons”
What’s the
damage?: October saw the launch of The Bravo Fund, Rocksure’s
second property portfolio. A share in the action which
includes properties in Brazil, Thailand, Morocco the Rocky
mountains, the Algarve and the Adriatic coast — will involve an
investment of £189,000.
The USP: Unlike
most fractional property schemes, where you buy part of the
deeds to a single property, the idea behind Rocksure is that you
invest in up to six properties around the globe in one fell
swoop — which is how the fund delivers its year-round sunshine
guarantee.
Founders David
Rogers and Desmond Patrick-Smith previously worked for luxury
tour operator Abercrombie & Kent, so you can rest assured that
property selection has been managed with a discerning eye, while
locations have been chosen for their investment potential.
Casting your investment net over several territories, meanwhile,
dramatically
minimises
your risk.
If shareholders
don’t wish to use up their full entitlement of weeks in any one
year, they can rent their allocated days out through the fund’s
rental arm – which makes it helpful that also high on the agenda
for property selection is access to world class golf and skiing.
Forty investors
will be asked to join the Bravo Fund.
Back to Top
Date:
November 2nd 2007 -
Publication:"Property
Week" -
Title:
"Rocksure
Property" Author:
Residential fund manager Rocksure Property has launched its
second fund. The Bravo Fund allows investors to invest in luxury
foreign property. Units can be purchased for £189,000, which
allows investors to own parts of properties in countries such as
Thailand Brazil and Morocco.
Back to Top
Date: February 12th 2007 -
Publication:"FT.Com"
Rocksure is launching the Rocksure Property Alpha
Fund. The portfolio, named A House for All Seasons,
will consist of six properties worth about £800,000
($1.6m, €1.2m) each in Brazil, Thailand, Morocco,
Portugal and the US. Through a commitment of
£159,000, up to 36 investors will have access to the
properties for four rent-free weeks a year over the
fund's seven-year life cycle as well as gains
accrued. Directors are David Rogers and Desmond
Patrick-Smith. About £3m has been raised by the
fund.
Back to Top
Date:
February 12th 2007 -
Publication:"Tiscali"
-
Title:
"Another
Holiday Home Portfolio set for Launch"
Author:
Jeremy Gates
The Rocksure Property
Alpha Fund, for 36 investors each stumping up £159,000, will buy
six homes around the world and resell them - hopefully at a
profit - after seven years.
Says Rocksure director Desmond Patrick-Smith: "There are some
differences between the schemes. We kept membership to 36, with
over 20 reservations so far, to keep the feel of a small private
club.
"We will also rent our properties out, which allows us to
keep annual fees down to £1,500. And with properties around the
world, we can offer longer letting seasons."
Back to Top
Date: January 23rd 2007 -
Publication:
"Tiscali News" -
Title: "Property Club Targets Jet-Set Addresses"
-
Author: Jeremy Gates - Press Association
Here's a pretty stunning choice: for little over
£150,000, you can buy a (small) holiday home in England, or the
right to use six luxurious homes for seven years in the most
desirable addresses in the world, with others having to worry
about the maintenance.
That's the interesting sales pitch from the
Rocksure Property Alpha Fund, based in Burford, Oxfordshire,
which is inviting just 36 investors to put £159,000 each into a
kitty which will be used to buy the properties and hold them for
seven years.
Then all will be sold off - and proceeds divided
up between the 36 owners.
Rocksure is the brainwave of David Rogers,
former chief operating officer with upmarket travel operator
Abercrombie & Kent, and Desmond Patrick-Smith, formerly a
managing director of A&K's Europe division. Between them, the
pair should know what a top quality holiday home actually looks
like.
They have already agreed terms on the purchase
of their first property on the island of Phuket in Thailand.
It's pictured on their website as a flavour of things to come.
After that, they plan to buy in Breckenridge, in
the Rocky Mountains of Colorado; on Portugal's Algarve coast; in
the fashionable resort of Buzios on the coast of Brazil, north
of Rio, and in Marrakech, Morocco.
They will also acquire a two bedroom apartment
in Manhattan. All properties will be closely supervised by an
in-country manager and full-time staff.
Investors in Rocksure are promised an average of
four rent-free weeks each year for seven years at their choice
of any of the six properties. If they cannot use all their
weeks, the Fund might arrange a rental on their behalf and pay
them part of the income earned.
Rogers says many of the 36 places are already
filled - and he's surprised that many people responding to his
scheme already have a home abroad. He reckons they want to dump
the worries of home ownership onto his team.
"Several applicants already own a cottage in
Tuscany and might realise all the hard work that involves", he
says.
"We see this as a pretty conservative scheme. We
will pay cash for the properties, so there is no borrowing and
no worries if in some years management and maintenance costs
exceed rental income.
"Obviously we can't know how property prices
will go in six locations around the world, and we have no idea
how the pound will fare in currency movements. Nor does Tony
Blair."
Rogers, who calls himself a "serial
entrepreneur", was a co-founder of the travel company
Supertravel, before he sold out in 1991.
Rocksure is obviously not for widows or orphans
- but it might be fun for those who have recently enjoyed an
inheritance and could survive if they didn't get all their money
back.
Annual management
charges are projected at £1,500.
Back to Top
Date: January 12th 2007 -
Publication:
"Property Week" -
Title: "Holiday Season for Rocksure"
Rocksure Property, the overseas property fund manager set up by
travel industry veterans David Rogers and Desmond Patrick-Smith,
has launched a fund offering holiday home ownership.
Formerly of Abercrombie & Kent, Rogers and Patrick-Smith
designed the Rocksure Property Alpha Fund to give up to 36
wealthy individuals or families the opportunity to invest in six
luxury homes in locations such as Brazil, Thailand and New York.
As
well as taking a share of the properties' capital value growth,
at the end of the fund's seven-year life investors can stay in
the properties rent-free for four weeks every year.
The
properties will be bought outright by the fund.
Rocksure has raised about £2.5m of subscriptions.
Strutt & Parker Financial Services is marketing the fund.
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