A new ski chalet in Chamonix ready for the 2007 winter season has now joined 13 other European properties in a shared property portfolio, called the Hideaways Club.
This snug open-plan Alpine-style chalet with stone floors and wood burning stove is just one property available to members of the Club who can stay up to five weeks in any of the properties, of which they own a share.
To date, the Club has 40 members and 13 properties across Turkey, the south of France, Tuscany, Majorca, Portugal, Morocco and Switzerland. Within five years, it aims to have 600 members and 100 properties in over 25 locations, all within a four-hour flight from the UK.
Members pay £200,000 to join the Club – about the same as buying a two-bed apartment in the chosen locations. An annual fee of £12,000 gives members four or five weeks holiday, including a concierge service and management costs, and additional points can also be purchased, says sales and marketing director, Michael Watson: ‘Members can turn up knowing the house is ready with beds made up, food in the fridge and the pool clean and heated. Our properties are let for only 26 weeks of the year to ensure good availability and reduce wear and tear.’
Each holiday home measures at least 2,500-square feet, with a minimum of four bedrooms, three bathrooms, private gardens, pool and plasma television. Based on ‘fractional ownership’ The Hideaways Club (www.thehideawaysclub.com) also allows members to sell their share after three years – but only at 80% of the current market value of the total portfolio.
There are also plans to extend flying time to the properties from four to six hours from the UK, so members can bask in winter sun further afield.