HOKKAIDO Tracks Development is going to offer fractional ownership with the release of “The Escarpment Estate Private Residents Club”.
President Simon Robinson says the idea is to provide luxury resort residences that can be used, loaned, rented, exchanged or sold. It is going to be the first fractional residential resort property in Niseko Hirafu, involving ten luxury high-end residences in a gated enclave community with resort club facilities.
The usage plan of this equity based shared ownership concept is a 1/16th share, with fractional shares starting from ¥9,000,000. Sales contract and shareholders agreement will include a 5-year, 7-year and 10 year sellout option with the sales revenue being divided amongst the investors.
Simon Robinson says,“this approach makes a lot of sense in today’s market and we are already starting to get good traction”. The logic behind the concept: Why buy 100 per cent of a two million dollar property, if you can just buy what you need for a holiday? Located on the Estate will be “the Nest”, acting as a club facility for owners and guests. Planned are a lounge bar, massage and beauty services, gymnasium, a childrens’ room with games and more.