Founded by two former Abercrombie & Kent executives, David Rogers and Desmond Patrick-Smith who were greatly influenced by the American destination club model, Rocksure Property targets the audience of investors who want to enjoy the financial benefits of second home ownership but without the hassles.
In an interview with Arabian Business, Rogers was asked about the American destination club model and said, "I thought the idea of sharing the assets was nice, but when I realized people writing the checks didn't own the houses and they were owned by the entrepreneur, I thought it was crazy and it would never work in England. The Brits have a love affair with bricks and mortar so I turned the idea around so that people writing the cheques actually own the houses."
The United Kingdom based club offers a very exclusive offering where member/investors buy a share of a company that owns six £1 million properties in six destinations, effectively mixing an assortment of beach, ski, and leisure destinations and creating the club's "A House For All Seasons" tagline.
Unlike American based destination clubs that largely have to purchase properties to attract new members, Rocksure works almost exactly the opposite, waiting until the club has 20 investors before they begin purchasing real estate.
Rocksure's first membership offering, the Alpha Fund, launched in Jaunary of 2007 and closed by July, with more than £5.7 million in subscriptions. Available to members are properties in Marrakech, Buzios, Algarve, Breckenridge, and Phuket.
The club quickly began to work on the next iterations of the club with the similar Bravo and Capital Funds.
The Bravo Fund focuses on four and five bedroom villas throughout the world, much like their predecessor at the Alpha Fund. Completing their first initial subscriptions, the club is now in the process of buying its properties, including a magnificent residence in Breckenridge, Colorado. The other five properties in the Bravo Fund will be in Croatia, Thailand, Morocco, Brazil, and Portugal.
The Capital Fund expands to ten properties, focused on apartments and town homes in the heart of some of Europe's finest and most historic cities, eying Paris, Rome, Prague, and Venice amongst others.
The Alpha, Bravo, and Capital Funds all are planed to have a finite lifecycle of seven to eight years, when the properties will be liquidated and the proceeds distributed to the club's member/investors. As part of their ownership, members may actually ask Rocksure to rent their usage to non-members and receive the rental income as well.
With financial security and lean operations as pillars of their club model, expect Rocksure Property to enjoy steady growth throughout their time in the industry.
To learn more about Rocksure Property, please visit any of the club's quick links found to the right or request a free copy of our Destination Club Guide.
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