Ownership


The house is owned by Castelet Combefa Ltd a company registered in the UK and it is the company’s only asset. Each of seven co-owners will hold twenty of the 140 shares in the Company, which owns the freehold of the property.

The current selling price for a share in the co-ownership of the property is £85,000 plus legal fees and expenses.

The year is split into three blocks and each co-owner has seven weeks at the house every year, consisting of a three week block in period B, a two week block in periods A & C. Approximately twice every seven years, co-owners get an eighth week and this will be attached to one of the two week blocks. Each year at the Company’s Annual General Meetings in the UK, co-owners elect a Chairman, Secretary and Rota Officer.

The Rota Officer supervises a rota whereby over a seven-year period, co-owners experience every week of the calendar year. So co-owners will get Christmas every seven years, Valentine’s Day every seven years and so on. All seasons will be experienced over each seven-year cycle.

The scheme involves the employment of cleaners between visits, a gardener and during the summer season a pool maintenance company. At each A.G.M. co-owners determine a Service Charge for the year to pay for the cost of this work, for utility charges and for any other expenses agreed by the co-owners.

Each co-owner has 1 vote on all matters if a vote is called if a co-owner owns more than 1 share they still have only 1 vote.

The house is furnished as per inventory and each co-owner will have access to a storage container in the garage where they can house their own personal belongings between visits.

Breakdown of all the expenses:

Assumptions

2015/2017 are real expenditure but, they reflect 1 family staying for approximately ten weeks per year. (All expenditure has been calculated in Euros.

Future projections are estimated.

The cleaning is based on 5 hours at @ 20 euros per hour for each change over and in addition 4 deep cleans per year @ 400 euros.

The house doesn’t currently have a TV, landline or internet. The current owners have run a substantial business in the UK and business interests across Europe via the use of a mobile phone for telephone and internet access.

The new owners may wish to change this and if so this would need to be taken account of in the expenditure.


The Owned Land

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