News

Rocksure Property's Capital Fund, which will buy shared ownership properties in 10 European cities for members' use, has reached initial closing stage. The company is currently sourcing properties in Paris and Vienna after the Capital Fund achieved its first closing with subscriptions totalling €2.1 million, €1 million of which was invested over the last eight weeks.
 
Rocksure's directors are in the process of purchasing the first Capital Fund property in Paris, which will be available to shareholders by late summer. The two-bedroom, two-bathroom apartment is likely to be in the 8th, 9th or 17th arrondissement.
 
Launched in 2009, the Capital Fund is Rocksure Property's third overseas property fund offering shared ownership of apartments and townhouses in Paris, Cannes, Venice, Florence, Rome, London, Barcelona, Marbella, Prague and Vienna.

Each property will be worth between €1million and €2million and will remain in the fund for 10 years. Owners can use any of the properties for 14 nights a year rent-free, split between three-night weekends (Fri-Mon), four-night mid-week stays (Mon-Thurs) or a seven-night combination of the two. At the end of the life of the fund all properties will be sold and the proceeds repatriated amongst owners.

The company also offers an 'Inter-Fund' booking concept which means owners also have access to the rest of the Rocksure portfolio; nine internationally located villas and a New York apartment from the Alpha and Bravo Funds covering Brazil, Thailand, Colorado, Portugal, Croatia and Marrakech.

A full unit in the Capital Fund is available from €115,000 and entitles owners to 14 rent free nights a year. Half units are available from €57,500 and entitle owners to seven rent-free nights a year.

www.rocksureproperty.com

07/06/10