AppassionataFractional Ownership

What is Fractional Ownership at Appassionata?

“I own a country house in Italy with a swimming pool, tennis court, vineyard and

wonderful sea views. This is true whether you own five weeks or the property outright”

ResidencyThe Residency Calendar ensures owners have annual access to the peak months; it is simple to operate and provides flexibility for all. Using the annual reservation system owners will reserve 2 consecutive weeks over the peak period (May to the end of September) and then reserve their remaining 3 weeks during October to April, in any combination, on a rotating priority basis. There are 10 owners in the priority system for each residence. Priority is established by who became an owner first, then second and so on. Each year owners move up the priority list, e.g. if you are fifth one year you are fourth the next, etc. To ensure equitability, the owner who has first choice for the selection of peak weeks will have the tenth choice for non-peak weeks.The management company hold two weeks for maintenance purposes that can also be exchanged if necessary. Weeks can be exchanged with co-owners, used by friends and family or rented to a third party. The reservation process takes place each year in September/October where owners choose their weeks for the following year

Boutique and luxurious, family owned Appassionata offers a simple way to own an overseas property for a fraction of the cost through Fractional Ownership. Fractional Ownership allows a number of buyers to collectively own a luxury property, which is professionally managed and maintained. As a lifestyle investment, Fractional Ownership makes sense. On average, a holiday homeowner only uses their property for 40 separate nights but pays for the entire year. Fractional owners don’t have the financial burden of maintaining the property all year round; they simply split the maintenance fees with fellow owners. Appassionata’s owners buy a 1/10th interest in their residence of choice, which allows five weeks residency each year. Appassionata’s owners are investing in ‘bricks and mortar’ – an asset which can be passed on to family. This includes shared ownership of the common areas of the Estate, which is made up of: n The communal gardensn Swimming pooln Tennis courtn Olive grovesn Truffle orchardn Vineyardn Lavender plantation

Appassionata’s Estate Giacomo Leopardi is owned by its members, through a UK based non-trading company (Appassionata Giacomo Leopardi Limited). When members wish to sell, gift or transfer their membership it is a straightforward process which can also be executed easily from overseas. It does not involve the complexity or cost of transferring property under the Italian legal and tax system.

In simple terms:

‘The Members own the Company - the Company

owns the property.’

The Lifestyle Investment

A 1/10th fractional share (5 weeks ownership every year) starts at £105,000 pounds – For Casa Giacomo These prices are subject to regular review and will be increased over time.

Property Management & Annual Service Charge

Inspection Trip & Application Process

Benefits – A Lifestyle Investment

Key Benefits of Appassionata Fractional Ownership:

To ensure that Appassionata’s Estate and properties are always luxuriously maintained, an annual service charge is payable by each owner.

This charge is calculated on the total running costs of the estate and is divided between owners equally.

This is one of the great benefits of fractional ownership and reduces the liability you have for the running costs of the estate. It also allows you to arrive at your holiday home, ready to start your holiday; without the normal anxiety you may feel if you owned the property outright and were wondering what your first job may be!

These annual dues cover various costs, including:n Housekeeping (handover cleaning, linen and towel changes)n Arrival provisionsn Essential foodstuffsn Maintenance (pool cleaning, gardening,

vineyard, olive groves and general maintenance)

n Company legal/accountingn Building and contents insurancen Capital reserves (sinking fund for replacements

and future decoration)n Utilitiesn Property taxesn Management charge

All expenses are charged on an actual cost basis and are fully available for review by owners.

Any differences with expenditure will be either charged or refunded after the accounts are finalised each year. The annual service charge per fractional share is estimated to be £2,800 for five weeks of ownership. Professional management is provided by Appassionata, whose studio is a mere 10 minutes away.

To truly appreciate the incredible venture on offer, we strongly recommend a visit to experience the wonders of Appassionata’s Estate Giacomo Leopardi and the beautiful area of Le Marche.

Michael Hobbs and his wife Dawn Cavanagh-Hobbs, founders of Appassionata, are offering a wonderful opportunity for those interested in visiting the estate.

This consists of a two night stay at a nearby guesthouse 50% paid for by Appassionata, a complimentary tour of the properties and the area as well as a fantastic meal with the Hobbs so you can sample some of Le Marche’s exquisite cuisine!

A key reason people invest in fractional ownership is to reduce their responsibility.

When taking a holiday in their home from home they do not want to worry about management and upkeep, they merely want to relax in the beautiful scenery.

With a fractional property there is no need for

owners to carry out maintenance, they benefit from less expenditure and professional management on hand. Fractional ownership is more than just ownership of a vacation home; owners easily maximize their overall experience as well as their savings and are delivered a high quality, luxury lifestyle.

The lifestyle Appassionata brings to owners allows them to connect more deeply with the lifestyle and culture of real Italy.

Let Appassionata deliver you the perfect Italian Idyll, an Arcadia by the sea and the mountains all for you to own a piece of…

n Increase your buying power

n Membership gives you full access to the property and Estate grounds for each residency week

n A share of wine, olive oil, truffles and lavender produced from the estate owned vineyard, truffle orchard, olive groves and lavender plantations

n A low one off purchase cost – without the normal Italian legal and tax complications

n All annual running costs shared between owners which are fully transparent and cost based

n Professional on-going local management

n Easy transfer or sale of membership in the UK Company at any time

n A long term relationship with this wonderful untouched part of Italy

Q&AFractional Ownership

1. Is the property offered ‘deeded property’?

Yes, the property deeds are owned by a UK based company (Appassionata Giacomo Leopardi Limited). Members own the company, the company owns the property.

2. Are the weeks offered fixed or variable?

The weeks are reserved each year on a rotating priority basis, to ensure each owner always receives 2 weeks in the peak season and 3 weeks in the off peak season.

3. Is the building completed yet?

The newly built, four bedroomed Casa Giacomo is ready for occupation. The five bedroomed, traditional farmhouse Casa Leopardi is currently being restored.

4. How much does it cost?

The price for a share in Casa Giacomo is £105,000. Casa Leopardi’s shares are currently set to launch at £165,000 each.

5. Exactly what does ownership include?

A 1/10th fractional share (5 weeks ownership) of Appassionata’s properties includes:

n A share of wine, olive oil, truffles and lavender produced on the estate owned vineyard, truffle orchard, olive groves and plantations

A right over the specific property as well as common areas of the Estate, this includes:

n The communal gardens

n Swimming pool

n Tennis court

n Olive groves

n Truffle orchard

n Vineyard

6. What fees do you charge?

There are no application fees. Appassionata charges an annual maintenance fee which is costed and equally split between all of the owners.

7. How long has the company been operational?

Appassionata Ltd. has been operational since 2004.

8. Can I visit the property before buying a share?

Yes, we would strongly recommend an inspection trip as soon as possible. For those who are truly interested in knowing more we are offering a wonderful opportunity to visit Le Marche.

9. If I decide to purchase a fractional share in a property, can I change my mind: if so, by when?

Yes, of course. We allow a 14 day ‘cooling off’ period after we have received your completed application form, just in case you should change your mind.

10. What is the process if I wish to sell my fraction in the property at any time in the future?

You are free to sell your fractions at any time, at a price that you agree with the purchasing party. Re-sale of a share in an Appassionata property must first be offered to existing owners, through Appassionata, before offering to a third party. Appassionata will assist owners in the sale of their membership if they desire.

11. How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come first served and is there any priority amongst owners?

You will get an opportunity, on a rotating priority basis, to book these periods and you can always exchange weeks with other owners as well as the service weeks held by Appassionata. Furthermore, your weeks can be exchanged with co-owners, exchanged with fractional owners all over the world through the FractionalExchange.com, used by friends and family or rented to a third party.

Q&AFractional Ownership

12. Are there any fees in addition to the fractional property purchase?

No

13. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future?

Appassionata has positioned its initial fractional purchase costs at a very competitive price. It is intended that these prices will increase over time to reflect the true value of the development.

14. Are there any ownership rules – e.g. are pets and is smoking allowed?

House rules will be made available as part of the application process, two important rules are that pets cannot be accommodated and smoking is not allowed inside any of the properties.

15. What other amenities can I expect at the resort?

The Estate of Giacomo Leopardi has an all weather tennis court (with basket ball net), large 15m x 6m swimming pool, newly planted vineyard, newly planted truffle farm, olive groves, lavender plantation and wonderful, landscaped gardens. The website has further details in the property section.

16. Who owns the properties at present and what happens if the property company fails?

The property is owned by a non trading, UK registered, limited liability company which has been established to operate the estate on behalf of all its members. There is no external funding for this project; the cost of the development and purchasing the land has been funded by Appassionata Ltd through an inter-company loan and can only be repaid as fractions are sold.

17. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available?

Appassionata is set in the wonderful region of Le Marche which boasts a tremendous combination of history, culture and leisure activities. This is real Italy, where many Italians take their annual holidays. The two properties on the Estate Giacomo Leopardi are beautifully positioned, with sea and mountain views. The quality of the construction, interior furnishings and facilities reflect a truly luxurious proposition. Appassionata is not only the developer but the provider of the property management.

Appassionata is a small boutique business, and provide on-going management; we are not a large faceless commercial organisation. Our pricing structure reflects tremendous value and is hard to find in an equivalent development. Please come and see for yourself!