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PALMA OLD TOWN CONVERSION OPPORTUNITY STUNNING NEW APARTMENTS i MAJORCA ~ INVESTMENT OPPORTUNITY SUPERB INVESTMENT OPPORTUNITY IN A LOW RISK ENVIRONMENT ‘The oppor exis tw configs on ofthe most wsiqu and imposing proper in Plan OW Tews, Majorca “This clssical Spanish tiple fronted town hou, oxigiully built cisca AD 1630 and previously owned by local wealthy taders, i nestled in a cobbled side treet directly off the min shopping Plar. ‘The building is suitable for conveion to sic top of the tinge hneogy apactmeats, of which three wil have lege secured tereices each. Fach apartment also has the benefit of an allocated parking apace within the confines of the building: The propery boast several high qualiy orig fearures, sueh as a magpificent marbled entrance hull and! guind staircase ‘The bulking is atanged over 4 floots with 4 build space of cixen 1200 squate metees. The average apartment size in this stp of eity ving rages from 50 square metres for studios 140 squate metres without traces, ‘The project has been surveyed by om of Palma’ foremost architects and has confiemed that it = a very valuable buildmg in excellent condition with « huge potential for developing into elegant apartments, It has been catublahed tat there wil act be any iaues eparding planning consent BENEFITS OF THIS PROPERTY. © Fantstic oeation Bligh yield projected on inital investment © Theadjaceat propeny is eurently undeqmoing a conversion sinils to this project, and has been completely sold off plan + Adevelopment of 300 units acarby was sold completely off plan in 2000. The building works for this project complete later this year “There ate no other propertos of thie nature amilable at present Views of the Cathedal ‘There ate 3 large erties "The building is architecturally sound ‘The building lends ital to an oustanding convession project ‘There are n0 prohibitive covenants ot encumbaances attached to the praises Packing in Palma ie sta promi and this propery has the potenti for 6 came “There # a shortage of centally located town deellings and local grate indicate that eles happen cexteemnely quickly © ‘Theses entseat a tread for wealthy subuchan sesideats to se-locate to the business ceutee of Old Palau ‘THE LOCAL MARKET “The property macket in Majores contiauss to grow ata ste of ppecriately 15% per annua. te the festeat growing region of Spain, and the capital, Pal, in particular, is ireasingly going vpmarket. Development ia Majorea i tphtly cootzlled, thereby limiting the supply of new properties coming on the susket. Due to the increasing demand, prices are being pushed upwards, prticulaty at the top end, Despite the fact that tourism and business in general continues to boom in Palma, demand is being felled by local business people coming back into the eit fom the subucbs. The inevease in the local market i act to be -mainttined for the foreseeable ftace “These panicle are fr Mustzalion only, We operate a palsy of conlinuous improvement and individual features auch a kichen and bathroom layouss, doors, windows, gqrages, and elevational entments may vary fom time 1 ee Consequenlly tere pasicolas should te tated & geneal giidance only and canaot be sled upon as acisately slesibing ay of the Specied Mates prescribed by any order made unde the Property Misdescrptons ACTOOI. Nor do they constuteacontract,partof@coatractora warranty MAJORCA ~ INVESTMENT OPPORTUNITY ‘THE DEAL ‘The proposed deal isnot avilable on the open market. It wil only be available to a network of carefilly selected FINANCIAL PARTICULARS Selling building space available 1200 Square Metres Development Costs Architects Fess £ 65,000.00 Refurbishment £850,000. Legs Fees £ 97,500.00 Selling ees £ 97,500.00 ‘TOTAL costs -£910,000.00 INVESTMENT REQUIREMENT Tavestment in unite of £50,000 00 each — maximum of 20 inceston, tou investment £1,000,000.00, (NB. This includes « contingency of {90,000.00} A special company vehicle will be etsated with shuscholding for eich of the investors, with 4 nominated value tgainst exch sharcholling. The value ofthe shares will be £50,000.00 “The shases will ater 4 guuantesd setuen on investment of 32.25% over 2 year, which will equate to {32,280.00 412 years time foe every 100,000.00 invested. PROJECT TIME LINE Architects plans died May/June 2007 Architects pas subanited June/July 2007 Phasing pseminion Gets September 2007 Masking of Property September 2007 Convetsion commences September 2007 Conversion Completed ctor 2008 Bait Stategy (Full Developmen) ebmnry2009 {Allows for 6 month contingency plan) “These panicle are fr Mustzalion only, We operate a palsy of conlinuous improvement and individual features auch a kichen and bathroom layouss, doors, windows, gqrages, and elevational entments may vary fom time 1 ee Consequenlly tere pasicolas should te tated & geneal giidance only and canaot be sled upon as acisately ‘descriting any a the Spacing Mater prescribed by any ander ade under the Property Nedescriptons ACISOL Nor do they constuteacontract,partof@coatractora warranty