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David Lloyd to offer fractional ownership properties in Spain

Mon 18th Jan 2010

A new David Lloyd Resort opening this month in south-east Spain is offering holiday homes for sale on a fractional ownership basis. Prices at the Desert Springs Resort in in the Almanzora region of Almeria start at £24,000 for a 1/13th share.

Properties range from two-bedroom apartments to three-bedroom townhouses set in mature gardens. Some of the properties overlook the resort's 72 par 18-hole Indiana golf course designed by former Great Britain and Ireland Golf Team Captain Peter McEvoy who was inspired by the desert courses of Arizona and California.

Simon Coaker, sales and marketing manager at Desert Springs, said of the new fractional offering: "David Lloyd Resorts uses this principle to provide individuals with the opportunity to share in, and enjoy, exclusive property ownership that may previously have been unobtainable as a sole investor," he said.

Nick Lawrence, sales and marketing director of David Lloyd Resorts, said: "Each property is divided into 13 shares, and sold at three different price levels which are based on seasonality. Shared owners hold a share in a chosen property based on the amount of equity invested, but all share equal occupancy rights. Each share entitles the owner to four weeks usage each year. These are two weeks reserved from a choice of price bands and two ‘freedom' weeks enabling owners to explore the flexibility of the David Lloyd Resorts exchange programme by staying in our properties in Phuket, Canada, the West Indies, Turkey and Cyprus.

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He added: "Our business plan for Desert Springs is to sell each property after 10 years and, at that stage, return the proceeds to the 13 owners in a manner which is proportionate to their original equity investment."

Resort facilities include a tennis academy – which includes two brand new tennis courts, two new paddle courts and a beach volley court, Sierra Sports and Fitness Club with facilities for football, cricket and a gymnasium.

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