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2 bed This Brazilian development provides incredible value for money, an all round investment package and is set in a privileged location. Cash buyers may also enjoy a 5% discount for settling payments up front! A development phase of only 36 units, of which IPIN has exclusively secured 23 for its members
The first phase of a grand resort project, meaning the best units are available in the best situation
Prime beachfront location
Excellent price per m2 at only 885€
All units come fully furnished with fitted kitchens
Only 45 minutes from Fortaleza city and the international airport
With this great value in mind and the relatively limited number of units available, IPIN predicts that this investment will move very quickly.
Potential Capital Appreciation
per annum 20.00%
Conservative estimate by developer
Potential Rental Income
per annum 9.00%
Conservative estimate by developer
Development Timetable
Construction Start: 1st Quarter 2008 Construction End: 3rd Quarter 2009
Unit type Bedrooms Size M(from) Size M(to) Price (from) Price (to)
Apartments 2 80 80 76000.0000 76000.0000
Development Description
The Palm Beach development will have 3 phases in total, offering 250 highquality residences, located just fifty metres from a dreamlike tropical white sandy beach.
Phase I consists of 36 two bedroom apartments. Each building will comprise three levels containing 6 units and all are to be the only frontline apartments in the entire completed development.
Every unit will be fully furnished with one parking space per unit.
COMPARISONS
Development
Town
Fully Furnished
Beach front
Gated Community
Price From
Price m2
5 Star Amenities
Near Golf Course
Palm Beach
Uruau
Yes
Yes
Yes
76,000 EUR
855.00 EUR
Yes
Yes
CATU Yacht Club Marina
Fortaleza
No
No
Yes
123,821 EUR
1,510.00 EUR
Yes
No
Taiba Resort
Taiba
No
No
Yes
103,000 EUR
1,392.00 EUR
Yes
No
Dream Village
Cumbuco
No
Yes
Yes
93,264 EUR
1,097.00 EUR
No
No
THE INVESTMENT
The area, in which Palm Beach is located, already attracts great demand from both domestic and international tourists throughout the year.
Fortaleza is now renowned as an international tourist and property investment hotspot, while the ecofriendly nature of the area is of major appeal. Touristic demand for Ceara increased from 773.247 visitors in 1996 to over 1.968.800 in 2005, growing at an average of 8.8% a year.
Infraero, Brazil's public company that manages 97% of the country's airports has seen figures of over 3,031,000 international flight passengers arrive to Fortaleza in November 2007 up 309,987 the previous year.
Further government expenditure is being devoted to marketing and, within the first quarter of 2008, Ceara is to be represented in no less than five international tourism fairs. This is expected to build further awareness of Ceara as an outstanding place in which to conduct business, visit or live.
Factors such as these prove highly attractive for those looking for the most effective location for their investment, and with the addition of the planned Golf Course and Spa, this demand will continue to grow among investors and tourists alike.
THE EXIT STRATEGIES
The region of Ceara is a growing holiday property investment location and already a popular tourist destination for both the international and domestic market, resulting in an ideal rental investment opportunity.
According to the Ministry of Tourism, tourists who travel to Ceara for leisure tend to opt for hotels, pousadas or rented accommodation. Those who chose to rent, stay an average of 29.5 days, while some 96% of tourists return to Brazil.
Currently two bedroom apartments in Ceara average at around 30 euros per night. The following example is a typical rental scenario to be expected from a rental investment at Palm Beach Resort:
Property Price
76,000
30 EUR x 7 days a week
210 EUR
210 EUR x 4 weeks
840 EUR
840 EUR x 11 monthsyear
9,240 EUR
75% Occupancy
(9240 x 75%)
6,930
(6930 76000) x 100
9% Average rental yield in Ceara, Brazil
THE FACILITIES
2 communal swimming pools
Beach bars and restaurants within walking distance
Local beach offering range of water sports and beach volley ball
Secure private parking for each unit
Athletic court to be used for soccerfootball, volleyball, etc.
THE SECURITY
Our recommended legal team for this project has carried out an independent 'Due Diligence Report' on this development. They are completely satisfied with the project after carrying out searches on the following;
The company registration documentation
Title and ownership
The Private Purchase Contract
Planning and administrative permits
The building licenses are due imminently. For this reason the developer has agreed to allow the first contractual payment to be held by the legal firm in escrow, only to be released to the developer upon receipt of the relevant building license. This gives our IPIN members the benefit of added security of their funds.
THE DEVELOPER
Maggie Leigh Negcios Imobilirios Ltda.
Maggie Leigh Negcios Imobilirios Ltda., a Brazilian corporation, was formed in Fortaleza in 2006. Maggie Leigh is a property development firm specializing in the creation of luxury beach properties along the coast in NE Brazil. As of this writing, their construction portfolio includes five (5) projects and over two hundred (200) mostly front line beach units in Brazil.
The Maggie Leigh team includes the two (2) shareholders, Jason Sgarlata and Peter Menedis global entrepreneurs both, as well as the most respected engineers, construction and real estate personnel in the entire NE Coast of Brazil.
On all of Maggie Leighs projects, the lead engineer is also the head of the engineering department at the University of Fortaleza. Gerardo Santos reputation and professionalism are unsurpassed among his peers. Their builder, Construexpert Engenharia, has built many of Fortalezas landmark structures; including university buildings, highrise condominiums, office parks, entire subdivisions and more.
The partners, Jason Sgarlata and Peter Menedis each bring a background of successful entrepreneurship, global business creation and real estate success to the venture. Jason is the owner of Blackbird Financial, Wealth Counsel Member FINRA SIPC and a licensed Certified Financial Planner (CFP). Additionally, he is the owner and portfolio manager for New Lexington Properties, LLC, a US commercial real estate holding company with $1 million USD in annual revenue. He is also a passive owner franchise holder for 13 Five Guys Burgers locations throughout the midsouth of the US.
Peter Menedis is the owner of Matilda Ventures, LLC, a global distribution company providing onsite rapid test devices for the detection of drugs and alcohol. Having established itself as the largest provider in Australia, we have expanded our operations into New Zealand, United Kingdom and South Africa. Additionally, he is the managing director of Menedis International, LLC, in which he oversees a portfolio of real estate investments in the Caribbean, South America, Eastern Europe and the Caucases. Mr. Menedis also serves as the fulltime manager of the Maggie Leigh projects in Brazil.
THE FURNITURE
The apartments are delivered completely furnished and complete with the following contents:
Kitchen
Refrigerator
Oven with 4 burners
Sink and mixing tap
Microwave oven
Full Crockery Package, including:
1 toaster
1 coffee machine
1 draining board
Set of stainless steel cutlery
Complete set of plates, bowls, cups and saucers
Table glasses
Wine glasses
Mugs
Iron and ironing board
Set of pots and pans
Dustpan and brush
Rubbish bin
Vase
Corkscrew
Living Room
Sofa
Side table
Lamp
Coffee table
2 side chairs
TV with TV shelf
Master Bedroom
Queen size bed
2 side tables
2 lamps
TV with TV shelf
Wardrobe
Second Bedroom
2 twin beds
2 side tables
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