A guide to Fractional Ownership at Appassionata

1. Appassionata
Fractional Ownership
“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”
What is Fractional Ownership
at Appassionata? Residency
The Residency Calendar ensures owners have
annual access to the peak months; it is simple
Boutique and luxurious, family owned Appassionata’s Estate Giacomo Leopardi
to operate and provides flexibility for all.
Appassionata offers a simple way to own an is owned by its members, through a UK based
overseas property for a fraction of the cost non-trading company (Appassionata Giacomo
Using the annual reservation system owners
through Fractional Ownership. Fractional Leopardi Limited).
will reserve 2 consecutive weeks over the peak
Ownership allows a number of buyers to
period (May to the end of September) and
collectively own a luxury property, which is When members wish to sell, gift or transfer
then reserve their remaining 3 weeks during
professionally managed and maintained. their membership it is a straightforward
October to April, in any combination, on a
process which can also be executed easily from
rotating priority basis.
As a lifestyle investment, Fractional Ownership overseas. It does not involve the complexity or
makes sense. On average, a holiday homeowner cost of transferring property under the Italian
There are 10 owners in the priority system for
only uses their property for 40 separate nights legal and tax system.
each residence. Priority is established by who
but pays for the entire year. Fractional owners
became an owner first, then second and so on.
don’t have the financial burden of maintaining In simple terms:
Each year owners move up the priority list,
the property all year round; they simply split
e.g. if you are fifth one year you are fourth the
the maintenance fees with fellow owners.
Appassionata’s owners buy a 1/10th interest in
‘The Members own the next, etc.
their residence of choice, which allows five Company - the Company
To ensure equitability, the owner who has first
weeks residency each year. Appassionata’s
owners are investing in ‘bricks and mortar’
owns the property.’ choice for the selection of peak weeks will
have the tenth choice for non-peak weeks.The
– an asset which can be passed on to family.
management company hold two weeks for
maintenance purposes that can also be
This includes shared ownership of the common The Lifestyle Investment
exchanged if necessary. Weeks can be
areas of the Estate, which is made up of:
exchanged with co-owners, used by friends
A 1/10th fractional share (5 weeks ownership
and family or rented to a third party.
n The communal gardens every year) starts at £105,000 pounds – For
n Swimming pool Casa Giacomo
The reservation process takes place each year
n Tennis court
in September/October where owners choose
n Olive groves These prices are subject to regular review and
their weeks for the following year
n Truffle orchard will be increased over time.
n Vineyard
n Lavender plantation

2. Property Management & Annual Service Charge
To ensure that Appassionata’s Estate and These annual dues cover various costs, including: All expenses are charged on an actual cost basis
properties are always luxuriously maintained, an n Housekeeping (handover cleaning, linen and are fully available for review by owners.
annual service charge is payable by each owner. and towel changes)
n Arrival provisions Any differences with expenditure will be either
This charge is calculated on the total running costs n Essential foodstuffs charged or refunded after the accounts are
of the estate and is divided between owners n Maintenance (pool cleaning, gardening, finalised each year. The annual service charge per
equally. vineyard, olive groves and general fractional share is estimated to be £2,800 for five
maintenance) weeks of ownership.
This is one of the great benefits of fractional n Company legal/accounting
ownership and reduces the liability you have for n Building and contents insurance Professional management is provided by
the running costs of the estate. It also allows you to n Capital reserves (sinking fund for replacements Appassionata, whose studio is a mere 10 minutes
arrive at your holiday home, ready to start your and future decoration) away.
holiday; without the normal anxiety you may feel if n Utilities
you owned the property outright and were n Property taxes
wondering what your first job may be! n Management charge
Inspection Trip & Application Process
To truly appreciate the incredible venture on Michael Hobbs and his wife Dawn Cavanagh- This consists of a two night stay at a nearby
offer, we strongly recommend a visit to Hobbs, founders of Appassionata, are offering a guesthouse 50% paid for by Appassionata, a
experience the wonders of Appassionata’s Estate wonderful opportunity for those interested in complimentary tour of the properties and the
Giacomo Leopardi and the beautiful area of Le visiting the estate. area as well as a fantastic meal with the Hobbs so
Marche. you can sample some of Le Marche’s exquisite
cuisine!
Benefits – A Lifestyle Investment
A key reason people invest in fractional owners to carry out maintenance, they benefit The lifestyle Appassionata brings to owners
ownership is to reduce their responsibility. from less expenditure and professional allows them to connect more deeply with the
management on hand. lifestyle and culture of real Italy.
When taking a holiday in their home from home
they do not want to worry about management Fractional ownership is more than just Let Appassionata deliver you the perfect Italian
and upkeep, they merely want to relax in the ownership of a vacation home; owners easily Idyll, an Arcadia by the sea and the mountains all
beautiful scenery. maximize their overall experience as well as their for you to own a piece of…
savings and are delivered a high quality, luxury
With a fractional property there is no need for lifestyle.
Key Benefits of Appassionata Fractional Ownership:
n Increase your buying power n A low one off purchase cost – without the n Easy transfer or sale of membership in the
n Membership gives you full access to the normal Italian legal and tax complications UK Company at any time
property and Estate grounds for each n All annual running costs shared between n A long term relationship with this wonderful
residency week owners which are fully transparent and cost untouched part of Italy
n A share of wine, olive oil, truffles and based
lavender produced from the estate owned n Professional on-going local management
vineyard, truffle orchard, olive groves and
lavender plantations

3. Q&A
Fractional Ownership
1. Is the property offered ‘deeded property’? A right over the specific property as well as 9. If I decide to purchase a fractional share in a
common areas of the Estate, this includes: property, can I change my mind: if so, by
Yes, the property deeds are owned by a UK
when?
based company (Appassionata Giacomo n The communal gardens
Leopardi Limited). Members own the Yes, of course. We allow a 14 day ‘cooling off’
n Swimming pool
company, the company owns the property. period after we have received your completed
n Tennis court application form, just in case you should
2. Are the weeks offered fixed or variable?
change your mind.
n Olive groves
The weeks are reserved each year on a
10. What is the process if I wish to sell my
rotating priority basis, to ensure each owner n Truffle orchard
fraction in the property at any time in the
always receives 2 weeks in the peak season
n Vineyard future?
and 3 weeks in the off peak season.
6. What fees do you charge? You are free to sell your fractions at any time,
3. Is the building completed yet?
at a price that you agree with the purchasing
There are no application fees.
The newly built, four bedroomed Casa party. Re-sale of a share in an Appassionata
Appassionata charges an annual maintenance
Giacomo is ready for occupation. The five property must first be offered to existing
fee which is costed and equally split between
bedroomed, traditional farmhouse Casa owners, through Appassionata, before offering
all of the owners.
Leopardi is currently being restored. to a third party. Appassionata will assist
7. How long has the company been operational? owners in the sale of their membership if they
4. How much does it cost?
desire.
Appassionata Ltd. has been operational since
The price for a share in Casa Giacomo is
2004. 11. How does one book for popular holiday
£105,000. Casa Leopardi’s shares are
periods e.g. school holidays, and what booking
currently set to launch at £165,000 each. 8. Can I visit the property before buying a share?
system is in place e.g. first come first served
5. Exactly what does ownership include? Yes, we would strongly recommend an and is there any priority amongst owners?
inspection trip as soon as possible. For those
A 110th fractional share (5 weeks ownership) of
/ You will get an opportunity, on a rotating
who are truly interested in knowing more we
Appassionata’s properties includes: priority basis, to book these periods and you
are offering a wonderful opportunity to visit
can always exchange weeks with other owners
n A share of wine, olive oil, truffles and Le Marche.
as well as the service weeks held by
lavender produced on the estate owned
Appassionata. Furthermore, your weeks can
vineyard, truffle orchard, olive groves and
be exchanged with co-owners, exchanged with
plantations
fractional owners all over the world through
the FractionalExchange.com, used by friends
and family or rented to a third party.

4. Q&A
Fractional Ownership
12. Are there any fees in addition to the The property is owned by a non trading, UK
fractional property purchase? registered, limited liability company which
has been established to operate the estate on
No behalf of all its members. There is no external
13. Does the company have plans to raise funding for this project; the cost of the
prices – if so, when and by what rate development and purchasing the land has
and what factors would influence such been funded by Appassionata Ltd through an
price increases in the future? inter-company loan and can only be repaid as
fractions are sold.
Appassionata has positioned its initial
fractional purchase costs at a very 17. What do you believe are the strengths
competitive price. It is intended that these and weaknesses of the company and
prices will increase over time to reflect the properties available and why should I
true value of the development. ultimately buy this one in comparison
to the choices available?
14. Are there any ownership rules – e.g.
are pets and is smoking allowed? Appassionata is set in the wonderful region of
Le Marche which boasts a tremendous
House rules will be made available as part of combination of history, culture and leisure
the application process, two important rules activities. This is real Italy, where many
are that pets cannot be accommodated and Italians take their annual holidays. The two
smoking is not allowed inside any of the properties on the Estate Giacomo Leopardi
properties. are beautifully positioned, with sea and
15. What other amenities can I expect at mountain views. The quality of the
the resort? construction, interior furnishings and facilities
reflect a truly luxurious proposition.
The Estate of Giacomo Leopardi has an all Appassionata is not only the developer but the
weather tennis court (with basket ball net), provider of the property management.
large 15m x 6m swimming pool, newly
planted vineyard, newly planted truffle farm, Appassionata is a small boutique
olive groves, lavender plantation and business, and provide on-going
wonderful, landscaped gardens. The website management; we are not a large
has further details in the property section.
faceless commercial organisation.
16. Who owns the properties at present Our pricing structure reflects
and what happens if the property tremendous value and is hard to
company fails?
find in an equivalent development.
Please come and see for yourself!