Lagada Ridge, Makrigialos, South Eastern Crete
A UK company that specialises in structuring overseas land and real estate development projects in conjunction with experienced real estate developers
Crete Land Fund
- Acquisition of an estimated 150,000m2 of land in South Eastern Crete
- The land is in an area “zoned for planning” and taken through the planning process to gain detailed planning permission
- The land will then be sold to the Crete Development company for resort and leisure development
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Investment Summary
- An investment in a secured loan through acquiring an interest in a Limited Partnership to fund the purchase of an estimated 150,000m2 of land in South Eastern Crete
- An investment in a structured property financing, in conjunction with an internationally experienced developer and management team
- Qualifying investment for a range of pension plans including SIPP’s and SSAS’s
- Projected monthly return of 2%, providing annual return of 24% and a projected return over the expected 18 month term of the investment of 36%
- Security given to the Fund over the land to protect principal and part of the return
- Land to be acquired for 2.7 million euros as valued by Colliers International and with planning permission 6.75 million euros
- Investment period of up to 18 months from the closing date which may be extended by the General Partner for a further 12 months
Key Advisers
- Introducer – Fuel Financial Services
- Operator – Thesis Unit Trust Management
- Legal Advisers (UK) – Thomas Eggar LLP. (Greece) – Iason Skouzos & Partners
- Experienced International Developer and Management team
Crete – a remarkable investment opportunity
- Location – Makrigialos, a fishing and agricultural village on the southern most edge of Crete, the largest Greek island in the Mediterranean. It has some of the best beaches in Crete and is protected from any inclement weather by the surrounding mountain range with a micro climate giving the best weather in Crete.
- Access - Radically changed following the completion and development of Sitia airport in 2010. Access to Makrigialos will be reachable in 35 minutes instead of two hours.
- Government Incentive Grants – The Greek Government will give grants from 32% for 5* leisure and tourist developments, hotels, marinas and sports activities
- Experienced Partner – Working with an experienced and knowledgeable partner who has a proven five year track record in purchasing land, gaining planning permissions, building and selling in South Eastern Crete
- Timing – the area is poised for the biggest growth on the island making it of immediate interest to private and institutional investors
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Valuer’s Report on the Land
- The land conforms in all respects with statutory legislation
- The land is free from encumbrances, mortgages, restrictions or other matters of an onerous nature which would affect its market value
- The land has clear ownership status
- The land has a gently rolling terrain that does not pose any major site work issues
- The land has panoramic views of the southern most coast and sea of Europe
- The land is eligible to obtain grants from 32% of the total project budget
Colliers International produced a report November 2008 which sets out a valuation analysis of the land.
Summary
- Total value of Fund is limited to only £3 million
- Maximum expected 18 month investment period
- Investors will benefit from a fixed rate of interest of 2% per month, 24% per year
- Minimum investment £5,000 – no maximum
- Information Memorandum (the prospectus) available for investors
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