Pam Golding Vacation in Property oversubscribed for Pezula Private Residence Club

Posted On Wednesday, 02 August 2006 02:00 Published by
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South Africans have embraced the Private Residence Club concept to such an extent that all 70 fractional ownership options at the Pezula Private Residence Club were sold in just five weeks, says Dr Andrew Golding, CE of the Pam Golding Property group.

South Africans have embraced the Private Residence Club concept to such an
extent that all 70 fractional ownership options at the Pezula Private
Residence Club were sold in just five weeks, says Dr Andrew Golding, CE of
the Pam Golding Property group.
 

"This was an exceptional response even by international standards - in fact
the Pezula PRC, which is situated on the Garden Route, was hugely
oversubscribed. This concept has taken off globally and is among the fastest
growing sectors of the resort, real estate and hospitality industries
worldwide. What sets the Pam Golding Vacation in Property (VIP) product
apart is the fact that only products located within a hospitality
environment are marketed, so effectively, it's as if one is buying into a
successful, quality hotel," says Joop Demes, MD of Golding Hotel Investment
Consultants.

"Not only is one purchasing quality real estate at a fraction of the cost,
one enjoys the significant flexibility of utilising the 21 days' of free
accommodation per annum provided in several shorter stays at different times
of the year, or even to book two villas for one stay. This is coupled with
the full service benefits of living in a hotel environment - with no
maintenance hassles," he adds.

Jose Ventura, MD of Pam Golding VIP, says 90 percent of the investors at
Pezula PRC were South Africans, which reflects the significant impact of
this concept in the local market, with the balance being international
buyers, mainly from the UK, Holland and Switzerland. "The product simply was
not on the market long enough to be properly marketed internationally, such
was the swift response from enthusiastic South African investors. We had
already committed to marketing the Pezula product to the overseas market at
two UK exhibitions, but by then all the options were already sold out.

 

"Positive feedback from exhibitions and our global network is that not only
is there a huge international appetite for this type of product, there is
also keen interest in such prime products in South Africa and the Indian
Ocean, and potential for sound growth.  This is further boosted by South
Africa's strong real estate market and active hospitality sector, with
significant capital appreciation anticipated in local private residence
clubs," he says.

In addition to the success of Pezula PRC, Pam Golding VIP have already sold
a fractional shareholding to the value of GBP120 000 at the Marriott Grand
Residence Club at 47 Park Street, Mayfair in London, to a South African
buyer, even prior to the official launch of this product. 

Says Ventura:  "We have a further 68 serious enquiries for 47 Park Street
with a high percentage emanating from Gauteng. We are arranging
presentations in Johannesburg - by prior appointment - to interested
investors from 25-27 August at the Sandton Sun Hotel. Prices for fractional
ownership at 47 Park Street start from GBP102 000 and there are 49
exquisitely finished one and two bedroom residences, each with designer
kitchen and separate dining and living areas.  Investors are entitled to 21
nights' flexible ownership per year until 2050.

"The reason for the keen interest in 47 Park Street is because it has wide
appeal for those who visit London on business, for leisure use eg those
attending Wimbledon, and for visiting family in London.  It's a fact of life
that many South Africans have offspring living and working in the UK and
they then find additional reasons to visit London for business or leisure in
order to see their relatives - or friends," he adds.


To make an appointment to attend a presentation on the Marriott Grand
Residence Club email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 021 7622617.
The Johannesburg presentations will be held from 1-6pm on Friday 25 August
(2006), and from 10am till 6pm on Saturday 26 August and Sunday 27 August,
while other individual appointments can be arranged in regard to other
enquiries.

Ends


Publisher: Pam Golding Property group
Source: Pam Golding Property group

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