Official Agents For
Longevity Wellness Resort
Longevity Wellness Resort
Monchique Algarve Portugal
Property Investment Opportunity July 2008
In Monchique Algarve Portugal
in partnership with
First Reality Estate Agent For further information or to arrange a site visit please do not hesitate to contact Nigel or Beverly Stringer at: 
First Reality Estate Agent See Press Reports(click Here) EN266, Meia Viana, Monchique, Algarve Mobile: + 351 91 906 4376 E-mail: firstreality@sapo.pt Please visit our other websites. Opportunity: To buy an off-plan property (or bulk purchase) on the first Wellness Resort (Condo-hotel) in Portugal: 195 one-bedroom apartments (condo units) 7 villas Location: Monchique, Algarve (Portugal) Sector: Tourism and Real Estate Apartment Prices: From 200.000 € Furniture & equipment pack: 11.500 € + VAT Private Garden Terrace: 9.000 € to 13.000 € (Optional) Construction: Started in January 2008 and planned to end in July 2009 Financing: Up to 80% bank financing (LTV) for Non-Residents Yield: 5% Rental Guarantee over the first 3 years. Projected 6,5% to 7,5% per year, from the third year of tourist operation onwards, based on 65% occupancy rate. Developer: Longevity Real Estate Developments Special Vehicle Company: Montinho de Monchique Global Project Manager: Longevity Real Estate Developments Funding Partner: Millennium BCP (the largest private Portuguese financial group) Distinguishing Features: Location and incredible views over the Algarve Near Thermal waters Low construction density Unique Wellness and Senior Friendly concept Breadth and depth of amenities and services Condo-hotel concept (use it when you are there, rent it when you are not) Catered for medium and long stays Environmentally friendly features Superb landscaping and walking trails Near several golf courses and beaches About the Exclusive Investment Opportunity 5% Rental Guarantee over 3 years 1. Financial Benefits for the Buyer The investment opportunity presented in this chapter is exclusive and subject to campaign apartments availability. The overall 5% Rental Guarantee over 3 years (15% in total) for investors is based on the purchase price for the off-plan apartments, making this deal a very good investment opportunity in an exclusive location with a solid return on investment. Special Rental Guarantee Conditions (average price) Market Price 220.000 € Exclusive Annual Rental Guarantee 5% 11.000 € Exclusive Total Rental Guarantee (3 years) 15% 33.000 € For this exclusive investment opportunity with the presented conditions, the Longevity Wellness Resort Monchique reserved a set of 40 apartments that represent approximately 20% of the total. All these apartments are located in a quieter area of the Resort facing the Patio / Garden. - Investor buys off plan with the following down payment scheme: - 7.500 € on Promissory Contract (cash investment); - 30% on Promissory Contract (bank loan); - 10% December 2008 (bank loan). Therefore, throughout the entire period before deeds (about 20 months) the investor only pays 7.500 €, legal costs and interests for the 40% bridge loan. - The closing occurs between October and December 2009; the bank will finance up to 80% LTV resulting from the bank evaluation. This means that the buyer will have a cash outflow at closing (resulting from the 20% equity on the property) plus the costs associated with property acquisition tax and furniture pack. - The apartment is included in the Rental Pool with respective rental income - 5% rental guarantee for the first 3 years and an estimated rental income of 6,5% to 7,5% of acquisition price thereafter. Depending on the bank loan conditions, the cash-flow profile will vary from buyer to buyer. Longevity can provide a sample cash-flow projection if requested. Longevity offers a one stop shopping experience and can take care of all the processes related to acquisition, bank financing, reselling, etc. In addition to the financial benefits associated with this property investment opportunity, there are significant lifestyle benefits available to the buyer, such as: costs during the stay); - Possibility to offer those owner weeks to relatives, friends, business partners, clients, etc.; - Possibility to exchange those owner weeks under an international exchange program; - Free use of all facilities within the resort; - Discounts from 10% to 20% on all the services provided within the resort; - Free membership and access to our exclusive Longevity Club - by becoming a member you will gain access to a range of carefully selected products & services at special rates. These are aimed at helping you lead a full, healthy and more relaxed way of life by providing all the courtesies, comforts and privileges that any fine private club can offer. Whether you are visiting or living in Portugal the club is truly meant to make your stay in Portugal the best years of your life! both from a maintenance as well as from a revenue generation perspective: a hassle free approach to owning a second home in the sun! About the Development 1. The Developer The Longevity Group is headquartered in Lisbon with offices in the Algarve - Vilamoura and Monchique - and currently operates in three different business areas: development, real estate brokerage and resort management. 1. Longevity Real Estate Developments: • Concept and product development for Longevity resorts; • Search, definition, negotiation, development and implementation of real estate and residential tourism projects; • Development of real estate investment opportunities and harnessing of individual and institutional investors; • Harnessing of development financing; • Global project management with full articulation between architecture, projects; construction, surveillance, marketing, sales, financial management and resort management. 2. Longevity Real Estate Brokerage: • Search for quality real estate developments (beyond Longevity developments); • Definition and implementation of the development’s marketing mix; • Definition of a multiple distribution channel strategy; • Structuring of commissions and incentive based schemes; • Sales stand management and coordination of local and international distribution partners; • Property financing. 3. Longevity Resort Management: • Property management; • Condominium management; • Rental and resort management. acquired 100% of shares of a Limited Liability Company in Portugal, Montinho de Monchique (MM) which holds the real estate assets underlying the Longevity Wellness Resort Monchique project. 2. The Location such a stable economy there is little to suggest that this figure will drop over the next 7-10 years. In fact UK Channel 4’s “A Place in the Sun” program has listed Portugal as the third best overseas property option in its recent list of the twenty best investment locations. The leading property program cited a potential 360 % return for investors in Portugal over the next ten years. Price Waterhouse Coopers, a leading accountancy firm, prepared these statistics for A Place in the Sun. The tourism in Portugal has been consistently growing and the Portuguese Minister of Economy has recently declared that 2007 has been the best year ever concerning tourism revenues in Portugal. About the Algarve: • Unique climate - more than 300 days of sunshine per year; • Healthy Mediterranean cuisine; • Excellent Leisure & sports facilities- golf, beach, wellness & spa; • More Algarve beaches are environmental certified; • Friendly and relaxed atmosphere where English is widely spoken; • Algarve is considered the top choice in Europe, in a holiday property TV show; • British Citizens choose Algarve as the preferred destiny in Europe; • The last three year average occupancy rate of 4 and 5 star resorts in the Algarve has been 67 %; • Algarve World Cup 2005 was held at Victoria Club Vilamoura; • The Algarve was elected “Best Worldwide Golf Destination 2006”; • • Portugal Masters (PGA European Circuit ) was held at Victoria Club Vilamoura (Oct.07); About Monchique: lifestyle with spectacular mountain views. Just 45 minutes from Faro Airport, 20 minutes from the beautiful beaches of Portimão and Alvor and 10 minutes from the new Algarve Motorway, Monchique enjoys a temperate climate protected from the cold northern winds. Monchique hills are those of a subtropical maritime mountain climate. A wonderful variety of exotic vegetation with more than 1,000 plant species turns these hills into the "Garden of the Algarve". and has been a Spa for at least 2,000 years. Here, a visitor can try the curing elements of the sulphur spring that emerges at a constant temperature of 32ºC. The Romans appreciated the curative powers of these waters in the days of Augustus Caesar as did the Kings of Portugal in medieval times. 3. The Concept hotels have been the newest trend in second home ownership, allowing people to live in it when they are there and to rent it when they are not. The concept of Condo-Resort shows some characteristics that make it potentially attractive and therefore Longevity has decided to apply the same model for 45+ people looking for independent living and lifestyle and who wish to have a second home in a warmer country but who will not want to live there permanently. remaining weeks for the hotel rental program. They will capitalise on Longevity’s centralised reservation system, advertising, internet marketing and distribution network across Europe, which will include Insurance Companies, Banks, Affinity Groups/Clubs, Clients of Resorts managed by Longevity, Social Security Ministries, Retirement Clubs, Human Resource departments from major multinationals amongst others; condo unit buyers will be able to receive a higher level of rental income than they would from a traditional vacation home. Plus the hotel will assume responsibility of rental issues, as well as all housekeeping and maintenance of the units. Finally, condo hotel units worldwide have been appreciating at a faster rate than single-family homes and condos in the same areas. annum from the third year of operation onwards, based on a 65% occupancy rate (further details are available upon request). Additionally, apartment unit buyers will be part of an Owners Club with full access, free of charge, to all amenities, including the 600 m2 (6.458 sq.f.) Spa. relaxation, recreation and support for independent people over 45 whether they are property owners or rental customers who look for a wellness concept specially developed for their needs. Longevity believes that by promoting wellness and prevention in the widest sense, people will live longer and healthier delaying the emergence of dependency needs and related human and financial costs. service and solutions for citizens worldwide intending to visit, invest or live in Portugal. Longevity focuses on the segment 45+ who are independent and active and the common theme across our value proposition is precisely Wellness (physical, social, spiritual, intellectual), which is at the heart of this segment’s needs. 4. The Resort Algarve. Its distinctive features are: green forest amid very low construction density making this a unique offering; • The first Resort in the Algarve aimed at medium and long stays (greater than 1 month) offering a set of infrastructures and activities for longer stays - such as SPA, fitness room, indoor and outdoor pool, library, games room, cinema room, cyber cafe, prayer hall and a series of indoor and outdoor activities aimed at providing a well-balanced and diversified lifestyle for our medium and long stay customers; • The first Resort in the Algarve prepared to accommodate 45+ growing needs both from a building environment and from an amenities and services point of view. This Resort approaches Wellness from an integrated perspective and the activities will aim at improving the physical, social, intellectual and spiritual dimensions of Wellness; • An environmentally friendly architectural and engineering project, maximising the use of solar energy and rain water and leveraging the utilization of environmentally sensitive utilities features across the Resort; • 195 one bedroom apartments rising no higher than 3 story. Every apartment will be finished to a very high standard and be both fully furnished and equipped, each apartment boasting a balcony, kitchenette and two WCs; • An exclusive condo-hotel product in the Algarve where property owners may use their apartments when they are in and put in a central and professional rental system when they are out, allowing for a nice rental income to cover condominium, maintenance and mortgage costs while the property is growing in value; • A unique 20.000 m2 area of landscaped gardens and walking trails for hotel guests; • 10 minutes from the nearest golf course & 15 minutes from golf courses and beaches.
Licenced Agent Ami 7198
Telephone + 351 282 911 838
Fax + 351 282 911 839
www.firstreality.eu
www.monchique-construction.com
www.monchiqueportugal.info
Summary of the Opportunity
Apartments Under these Conditions
Step by Step Cash-flow Requirements
- The bank finances the 40% bridge loan with an interest rate of Euribor + 1,5% (maximum).
2. Lifestyle Benefits for the Buyer
- Free use of the property for 4 to 12 weeks per year (having to pay only the cleaning
And the buyer can benefit from all of this while Longevity is looking after his/her property
Each company offers the following array of services:
Longevity and its partners (include prominent local and international real estate investors)
About Portugal:
Capital growth has remained consistent in Portugal at between 7-10% per year since 2000. In
Irresistible Lifestyle
… and a distinguished destination
The town of Monchique is situated in an unspoiled location reflecting the spirit of a rustic
Nestled on the slope, in the middle of a tranquil forest, the temperature and rainfall of the
Nearby is the village of Caldas de Monchique, which was developed during the Roman Era
The reason Longevity has opted for a Condo Resort model relates to global trends. Condo
Owners of apartment units will have access for a maximum of 12 weeks per year, leaving the
Longevity estimates that apartment unit buyers will be able to get a 6,5% to 7,5% yield per
These are the grounds for the Longevity Wellness Resort Monchique a place for rest,
Longevity is the first provider in Portugal to offer integrated, extensive and innovative
The resort will have a 4 stars plus rating and is envisaged to be a unique product in the
• Surrounded by the hills of Monchique, with a gorgeous coastal view, nestling in a
