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Article from Arrivals+Departues Magazine - Sep/Oct 2009
It is a lifestyle property ownership concept that has taken the USA and Europe by storm. Paul Edwards investigates a unique Palm Cove development that will set a benchmark for people wanting to own their slice of paradise. W e’ve all experienced the dream and burning desire to be nestled on a tropical island – palm trees swaying in the summer breeze, endless stretches of pristine white beaches, the waves lapping against the shore, a comfy sun lounge, and an icy cold gin and tonic within reach. The tropical north really is where dreams for many of us may just become a reality with the launch of the Palm Cove Private Residence Club – an exciting new form of lifestyle property investment. Soon to be launched as a first of its kind in Australia, the Palm Cove Private Residence Club follows an amazingly successful model which has changed lifestyle property ownership across the USA and Europe, and while owners enjoy all the potentially lucrative benefits of conventional real estate ownership, the real investment is in your lifestyle. Due to open in 2011, this ground breaking concept is now available for pre-release registration, and those who register now will be able to take their pick of the stylish residences in this visionary development. Architect Leigh Ratcliffe, who has been designing resorts in tropical Australia for over 25 years, concedes that the Palm Cove Private Residence Club and the Village Palm Cove is his magnum opus. The Village Palm Cove is Australia’s newest and most exciting Resort. With its proposed Village Square and tropical village atmosphere, music school, moonlight cinema, rooftop champagne bar, amphitheatre and cultural events, The Village Palm Cove will be Australia’s tropical tourism icon. The team at Style TNQ can’t think of a more appealing location. Gateway to two World Heritage listed natural wonders – the Great Barrier Reef and the Daintree Rainforest, and highly protected from over development, Palm Cove is one of the world’s most desirable holiday destinations and an ideal investment scenario. Palm Cove is located an easy 20 minutes drive from Cairns International Airport, yet it feels like a world away. Cairns is the tourism gateway to and from Australia with direct flights and connections to all Australian capital cities and the world. “I have spent months in the USA and Europe researching and refining the concept for the Palm Cove Private Residence Club”, he told Style Tropical North Queensland. “ I have studied places such as Little Nell in Aspen, Colorado, which like others with a similar model, has attracted the savvy and sophisticated investor. Internationally, this concept has been operating for over a decade, and there were reportedly sales worth approximately $US2.3 billion in 2007 in the USA alone, before the financial melt down”. A Private Residence Club purchase is world recognised as a ‘new age’ common sense value decision - you can purchase the amount of the asset you actually need and free up capital for other uses or investments. It is widely believed by the experts that this will be the fastest growing form of purchasing a lifestyle investment property in the future…so lets unveil this exciting concept further. Firstly, what is a Private Residence Club I hear you ask? In simple terms, it is the co-ownership by like minded individuals of a luxury Residence in a fully maintained Resort complex. Each owner purchases a share of a specific luxury Residence for which they receive a separate freehold title and are entitled to use of the Residence proportionate to their ownership. In essence, owners enjoy all the benefits of owning a luxury lifestyle Residence for a fraction of the whole Residence price. If you’re like most people, we would all dearly love to own a lifestyle property in an exotic destination. Some take the step and find their lives enriched but most are dissuaded by either the expense of the purchase or the hassle and cost of maintaining yet another property. Private Residence Club ownership enables you to own a lifestyle property investment hassle free. Not only are all the operational and maintenance issues taken care of for you, but you only pay a fraction of the annual costs of whole property ownership. Importantly, Private Residence Club ownership is very different to Timeshare. With Timeshare you are effectively paying up front for your holidays for a fixed week annually and for a fixed number of years but you don’t own the real estate. But with direct freehold ownership in a Private Residence Club you can sell, mortgage or will your interest in the property as you choose and receive the capital gain - just like any other real estate. Created as a luxury enclave within The Village Resort, owners in the Palm Cove Private Residence Club are expected to be a community of like minded professionals and business individuals who appreciate the luxury, quality and exclusiveness of this unique tropical Resort within a Resort. The Palm Cove Private Residence Club comprises of 50 dual key luxury Residences that feature two deluxe master bedrooms with ensuites and interiors that reflect the luxury and ambience of a world class resort. Ownership involves purchasing a 1/12th freehold title interest ranging in price from an amazing $110,000 to $120,000. Yes, let me repeat - freehold title interest at that price! Ownership also entitles the owner to a proportionate amount of use of the Residence which, with a flexible and equitable usage plan, enables you to utilize your Residence for between 4 and 8 weeks throughout the year with either pre-planned vacations of up to one year in advance or short notice vacations. You can also rent part or all of your annual usage entitlement through the on-site management and gain a return on your investment; or you can exchange part or all of your annual usage entitlement through an optional international exchange. Now this interests me - imagine owning a place in Palm Cove and having the right to exchange use of your Residence for a holiday in exotic places such as Tuscany, Provence or the Caribbean! Owners will also enjoy the full facilities available at The Village Resort including the spectacular 100 metre long lagoon pool with its pure white sand beach, 25 metre lap pool, island swim up bar, poolside café, gymnasium and more. The Palm Cove Private Residence Club will also feature a private, luxurious, 50 metre long retreat pool for use by adults only with a spectacular two storey waterfall. For those seeking even more glamour, owners can even reserve their own private poolside pavilion and personal plunge pool. In addition to purchasing the real estate and its luxurious amenities, owners will also have access to an array of special privileges whilst in residence. These include private limousine transfers to and from the airport and on line priority check in prior to arrival. You will even be able to order your groceries and champagne online before you arrive, which your private concierge will ensure is chilled in your room, so all you have to do when you arrive is relax. Members will also have access to the Private Club Terrace for special functions, and will be personally invited to the weekly Members cocktail party to meet other owners. And if you thought that was enough, members will also have exclusive use of the luxurious Owners Club. The Club offers a dedicated Concierge to assist in advice and bookings of all tours restaurants and events, an Honour Bar, a deluxe lounge and poolside grand terrace, and a relaxing private library – where do I sign up? Palm Cove Private Residence Club is high on sophistication and the true savvy property investor will appreciate the value this lifestyle investment will generate for their family and future generations. The word on the streets is “get in quick”. At these prices with limited availability, they won’t last long. So as the saying goes, when you’re hot, you’re hot and in TNQ at the moment, that’s got nothing to do with the temperature! So if you dare to dream, TNQ is standing out as THE place to live, invest and holiday! Visit the display centre or contact:
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