Contents

• Dolphin Trust

• German Listed Buildings

• German Economy

• German Housing & Rental markets

• Dolphin Trust’s Step by Step Process

• Developments by Dolphin Trust

Dolphin Trust
• Dolphin Trust is a product provider for International Investors

• The company was set up in 2008 but originally established as Dolphin Capital but has recently started
a rebrand to Dolphin Trust to allow for trademark protection and further growth in light of continual
international success and global expansion

• The company has an accumulated experience of 25 years in German property development and
international investments

• They give historic buildings a new future and revive their forgotten charm while developing
sophisticated and contemporary living spaces in sustainable and beautiful buildings

• They are specialists in delivering property projects with German citizen tax breaks

• They also work on developing new projects on greenfield sites

• Finance is raised through a series of 2yr and 5yr term Secured Loan Note Instruments

• Since 2011, Dolphin Trust have received optimum results year on year for credit worthiness

• The company have offices in Germany, UK, Ireland and Asia

• They work with the most reputable solicitors globally to ensure all loans are secure and money is
managed in a transparent manner
A Worldwide Company
Dolphin Trust

• Our German team has an accumulated 25 years of experience working in developing properties
with associated tax breaks

• To date, Dolphin Trust has a strong track record in delivering projects and selling apartments to
German citizens

• Dolphin Trust have a team of experts in each field including sourcing, planning, finance,
construction, sales and property management
German Listed Buildings
• Constantly evolving list of Listed Buildings – 1%
of the real estate market in Germany are deemed
listed

• Due Diligence identifies the Listed Buildings that

meet Dolphin Trust’s strict criteria such as
location and infrastructure, Listed status,
planning consent, price.
• Buildings are purchased via Loan Note, sold off-
plan to German citizens and then restored to their
original glory

• The renovation of these buildings is a

Government priority with the aim of restoring the
integrity of the city façade
• German citizens can avail of
a unique tax break when
purchasing an apartment
and renovating it in a
Government-defined Listed
Building – up to 100% of the
renovation costs can be
reclaimed over a 12 year
period

• This is currently one of the

best means by which a
German citizen paying the
highest rate of tax can make
tax savings
German Economy
• Germany is Europe’s largest economy and the fourth
largest in the world
• At €35,930 GDP per capita, it is 19% higher than the
EU average
• Unemployment is just 5.1% - the second lowest rate
in the EU after Austria
• 37 of the largest 500 listed companies are German
• The predictability of Germany’s economy is unique
and that’s what makes it so attractive to businesses
and investors alike
• Germany is experiencing an influx of skilled workers,
an increasingly educated workforce, low borrowing
costs, a healthy balance sheet, flourishing exports
and a growing property market

“Today united Germany is an economic powerhouse

which is respected worldwide and is called upon to play
its part in the world. It is open, diverse and has
confidence in the future.”
Joachim Gauck, President of Germany
Germany’s Housing Sector

• Germany’s thriving real estate sector is the

definition of a healthy market in action.
Broader economic wellbeing and
government incentives to purchase property
support one of the most resilient property
markets in the world

• House prices have risen slowly but steadily

and the sector has been characterized by a
complete lack of volatility with trends
towards property purchasing increasing.

• There is particularly high demand for

housing within urban areas where a shift in
lifestyle has seen many citizens prefer
apartment and city living with shorter
commutes and better amenities.
German Rental Market
• A positive attitude towards renting has
helped keep Germany’s housing sector
strong and stable

• 60% of the German population live in rented

accommodation and the buy-to-let sector is
thriving

• Long-term agreements are not unusual

• Rental yields are in the region of 6%

• Long-term yields from rental properties

make them attractive investments for
landlords
The German Tax Break
Listed Heritage Buildings:
German tax legislation (Par 7i and 7h EStG) allows high net worth German tax payers to
depreciate the costs for refurbishing / modernizing work carried out on a Monument status
(or Listed) building.

German citizens who buy the apartment off-plan before renovating can reclaim up to 100%
of the renovation costs over 12 years. The following demonstrates the savings that can be
made. Tax Break Breakdown as follows:
Building (before 1924): 2.5% p.a.
Building (after 1924): 2.0% p.a.
Land: 0.0%
New Build (e.g adding balcony/parking): 2.0% p.a.
Refurbishment Cost - First 8 years: 9.0% p.a.
- Next 4 years: 7.0% p.a.
- After 12 years: 2.0% / 2.5% p.a.
Our Step by Step Process
Our Step by Step Process
Sourcing & Due Diligence

• Expert team identifies buildings that

meet our extensive criteria
• Commercial Due Diligence
• Technical Due Diligence
• Financial report
• Independent evaluation

Purchase Property

• If the site meets the sourcing team’s strict criteria on both financial and
commercial due diligence then the property is purchased with
Investment Capital
Our Step by Step Process
Marketing & Sales

• Dolphin Trust works with a proven German sales team with over 20
years experience to sell apartments off-plan to German citizens

• Drawdown from German Buyer

• Repay capital and interest - Investor Exits

Construction Work Begins

• Dolphin Trust engages with expert craftspeople to ensure that the
intricate work of restoring the Listed buildings are done in line with eth
expectations of the local council and according to the building needs
• Project Managers work closely with all aspects of the build to ensure
work is carried out on time and to the standard required by Dolphin
Trust
Our Step by Step Process
Project Completion & Handover to New Owners

Property Management

• Dolphin Trust offers all new home owners the opportunity to have their
properties looked after through a property management service
• This service includes maintenance of internal communal areas and the
external grounds
 Safety & Reassurance

• All funds raised are only released to Dolphin Trust once the desired site /
building is secured
• Funds are secured by a First Legal Charge at the German Land Registry
• This is not released until all Investors are repaid both capital and interest
• All legal costs involved are borne by Dolphin Trust
Project Track Record

Apartment House
Rossmarktstrasse 27, Leipzig
Size: 8 apartments
of 51 – 63 sq m
Completion: 2013
Project Track Record

Gatekeeper’s House
Neustadt am Rubenberge
Size: 101 sq m
Completion: 2013
Project Track Record

Residence Bolongaropalace
Frankfurt am Mainz
Size: 26 apartments
of 38 – 107 sq m
Completion: 2014
Project Track Record

Apartment House House

Gregor-Fuschs-Strasse,
Leipzig
Size: 10 apartments
of 55 – 59 sq m
Completion: 2013
Currently Under Construction

Carreé Alte Poste

Dottistrasse, Berlin
Size: 138 apartments
Expected Completion: 2015
Case Study
Canisius Carreé
Mainz
Size: 113 apartments
Expected Completion:
2015

• Purchase Price:
– €9,500,000

• Build Cost
(including all fees):
– €24,000,000

• End Value:
– €41,000,000
Case Study
Pre-Construction
Case Study
Construction
Case Study
Projected Finish
A New Future for History
 Dolphin Marketing Ltd

Malcolm Dixon
Tel: +44 (0) 7709394301
malcolm@dolphinmarketing.eu