Sojourn Collection - a unique concept for second home ownership
If owning a second home in the UK appeals to you, why commit to one when you can co-own homes in 3 distinct destinations.
As a lifestyle option, owning several holiday homes allows you to enjoy different experiences with your friends and family – short or extended stays in mountain, coastal and city locations throughout the year - while still allowing you to spend time in your own home where you are comfortable and familiar with the surroundings.
Another key benefit is that by jointly owning 3 properties, it's possible to get as close as possible to outright ownership when it comes to being able to use your property whenever you want.
We will shortly be launching the first of several portfolios, each with properties in the most sought after locations in the UK – starting with the South Hams area of South Devon, the Lake District and Central London.
All portfolios will have the following key features:
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3 high quality properties in different locations in the UK with the focus on coastal, mountain/lake and Central London - allowing owners to enjoy diverse experiences in their own home throughout the year
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Buy-in costs will start from £195,000 - less than a quarter of the expected value of each property within the portfolio
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Properties can be used by owners and their family, friends and business colleagues
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Each portfolio will offer flexible usage rights throughout the year with a usage system giving as close to outright ownership of each property as is possible
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All properties will be professionally managed on behalf of the owners
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Most portfolios will have a fixed exit route with a sale of the properties after 8 years and the proceeds returned to the owners.
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WHAT IS URBANE8?Urbane8 is our unique concept for frequent visitors to London. It allows a few like-mined individuals or families to co-own their own luxury apartment in the heart of the world's most vibrant city.
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WHICH AREAS DOES URBANE8 OPERATE IN?We will consider any district within Central London if we have sufficient interest. The areas we are currently focused on are Covent Garden, Pimlico and Notting Hill - register your interest in a London group here.
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IS URBANE8 ONLY AVAILABLE IN LONDON?Yes, at the current time. However, over the next 12 months, we have plans to expand it to other cities including Paris, Barcelona and Florence. Please contact us if these cities are of interest.
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WHO IS A TYPICAL URBANE8 OWNER?In keeping with the co-ownership demographic for second homes in general, most buyers are not looking for a cut-price deal, but a more logical way to own a second home. Many buyers we work with can afford whole ownership but see sense in sharing the costs of an asset they won't use all the time. Most of our buyers are looking for a base in the city they can use for frequent leisure trips with family and friends and for business stays.
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IS URBANE8 AVAILABLE TO BUSINESSES?Absolutely, London is a leading international financial centre. The Urbane8 concept will be of particular interest to businesses looking for a London base for use by their executives, staff and clients.
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WHAT IS THE BUYING PROCESS?Except for properties we have already purchased, the process starts with a small group of buyers - normally between 2 and 8 - with similar aspirations and motivations. Key preferences such as budget, location and expected usage are discussed before we draw up a shortlist of properties. We will then take care of everything for you - co-ordinating the purchase and setting up the ownership structure, the usage rights and the property management arrangements.
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HOW OFTEN CAN I USE MY PROPERTY?We design usage systems which strike a fair balance between certainty and flexibilty - allowing owners to plan their stays reasonably well in advance, but also to use their property on shorter notice as well. Between you and your family and friends, you will be able to use your property between 42 and 84 days each year, depending on the number of owners.
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WHAT WILL THE ANNUAL COSTS BE?Each owner will pay an annual charge to cover cleaning and maintenance of the property, insurance, utility costs, property taxes, any block service charge payable and a management fee. A payment will also be made into a reserve fund to cover periodic decoration and replacement of furniture and equipment when required. The annual charge will be based on an annual budget prepared at the start of each year and full accounts will be prepared at the end of the year. Owners can view monthy and annual accounts on our website.
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IS THIS THE SAME AS TIMESHARE?Not at all. As the name suggests, timeshare owners have the right to stay at a property for a fixed week each year, and nothing more. With Urbane8, you will jointly own your property and will have flexible usage of it throughout the year.
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HOW WILL MY PROPERTY BE MANAGED?We will appoint a local management company to deal with cleaning, inventory checking, repair and maintenance. Sojourn8 will be responsible for collecting annual charges from the owners, arranging insurance and paying all property costs including utilities.
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CAN I RENT OUT MY PROPERTY?You will not be permitted to rent your property out on a commercial basis but you will be free to allow friends and family to use it. Corporate owners will also be able to allow their staff and clients to stay in their property.
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CAN I SELL MY SHARE?Yes, you are free to sell your share at any time, subject to offering it to the other owners first. For some properties, there will be an open market sale after a fixed period agreed at the start.
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CAN I KEEP PERSONAL BELONGINGS IN MY PROPERTY?Yes, each owner will have a secure area in which they can store their personal belongings.
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HOW DO I ACCESS MY PROPERTY?Our properties are keyless. You and your guests access your property via an app on your smart phone which will give you access throughout their stay.