A shining opportunity

09.11.18

The fractional ownership industry is maturing as a new range of shared purchase opportunities come to market. By Stephen Penn.

Time and money are valuable commodities, especially when you’re looking to purchase a holiday home, which makes the option of fractional ownership a decision well worth considering.

The fractional ownership concept is far from new, having developed in the 1980s in the United States with group ownership of private jets. From there, it quickly transitioned into the real estate sector as a savvy way of acquiring a vacation home - with the first residential projects rolled out in the ski resorts of Colorado.

Today, fractional ownership is well established across Europe, evolving rapidly with innovative developers who can offer high-end, stand-alone properties to astute buyers, many of whom can afford to purchase a home outright, but prefer to share the cost of maintaining a second property that they won’t be using full time.

With a background in the sector spanning over a decade, fractional ownership consultancy – Lighthouse, has been involved with a diverse portfolio of projects across Europe, the Caribbean and North America.

The group also established its own brand Urbane8 in 2015, a portfolio of one and two-bedroom apartments in keynote global cities such as London, Paris, New York and Barcelona.

“We noticed a trend several years ago for combining city based business travel with extended leisure stays with friends and family,” explains Joanna Bishop, director of Lighthouse and Urbane8. “We wanted to offer an alternative to the high cost of hotels and serviced apartments; something that also gave owners a high range of additional bolt-on services.”

Each property is owned outright by a small group of like-minded individuals who can also access other properties within the Urbane8 portfolio. “Although originally aimed at frequent business travellers, we’ve also had a lot of interest from leisure buyers,” Joanna adds.

The group also operates Sojourn8, one of the few online portals dedicated to luxury real estate for fractional investment around the world. The site has an eclectic mix of over 70 properties including ski-based homes in Mammoth Lakes, California and the South Tyrol region of Northern Italy, a country house restoration opportunity in a stunning hilltop location in Tuscany and the world-renowned Royal Westmoreland resort in Barbados.

One recent addition - is a stunning, nine-bedroom Georgian mansion in Dumfries and Galloway, a region dubbed Scotland’s ‘hidden gem’. It offers a unique opportunity to own a stately home to enjoy with friends and family.

Located in the heart of Scotland’s finest field sports and within easy reach of Trump Turnberry, Royal Troon, Edinburgh and the Lake District, the property is also an attractive option as a corporate purchase for staff incentive and client hospitality purposes.

“It’s certainly an exciting time to be involved with group ownership of luxury real estate,” adds Joanna. “Our buyers are astute, high-net-worth individuals who see the benefits of owning a second home with other like-minded individuals, many of whom will own several fractional properties around the world.”

To find out more about fractional ownership with Lighthouse, visit: www.lighthousefractional.com

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