1. Are properties freehold?
Yes, each property is owned by a separate UK-registered company. The owners own the company through shares, the company owns the property. This is important as the fractional (or collective) ownership purchasing model should not be confused with timeshare arrangement. Once the share purchase is made, the owner can sell or pass on the share to family members.
2. What is the cost of collective share ownership?
Prices will vary but currenty from GBP 165,000, depending on which property you opt for in the Pinelli portfolio
Some current owners have multiple shares to provide them with more weeks exclusive use each year and the option of enjoying rental income for unused weeks.
There is an annual maintenance fee which is equally shared between all of the members who own each property.
3. What are the closing costs on my purchase?
There are no fees when purchasing your share, but there are the costs of :
- Your legal counsel
- UK Government stamp duty currently 0.5% of the share purchase price
4. Are the weeks offered variable?
Yes. The weeks are allocated each year on a rotating priority basis, to ensure each owner always receives weeks in the peak season and weeks in the off peak season. Weeks may be exchanged with co-owners, used by friends and family or rented to a third party,
5. Can I rent my weeks?
If you wish to rent part or all of your weeks, then the management company will assist you. The potential income from rental is very attractive and buying one or multiple shares allows you to take full advantage of the demand to stay at a Pinelli Estate property.
Current (2020) rental rates per week at the estate vary from €5,000 to €6,000 per week in the low season, rising to between €10,000 and €12,000 in the high season.
6. How can we visit the property before buying our share?
We strongly recommend an inspection visit to discover the secrets of the Pinelli Estate as soon as possible. We will assist you in arranging your visit.
7. Can I change my mind: if so, by when?
Yes. There is a mandatory 14 day cooling off period after you have paid your deposit which will be returned in the unlikely event you decide not to proceed.
8. Can I sell my Fractional Ownership share at any time in the future?
You are free to sell your share at any time, at a price that you agree with the purchasing party. Re-sale of shares must always be offered to existing shareholders first. The management company will assist owners in the sale of their share if they wish to.
9. Are there any ownership rules?
Yes. The holding of the owner’s share is subject to the terms of a subscription agreement, the articles of association of the company and a set of house rules and regulations. These documents will be made available as part of the acquisition process. We regret that pets cannot be accommodated and it is illegal to smoke inside any of the properties.
10. What type of people does Pinelli Estate Fractional Ownership suit
Fractional ownership is flexible and is attractive to people who may have capital tied up in other investments but still want to enjoy a high-end property. Equally it appeals to people who want a well-managed property and who realise they can only enjoy their property for a month or so each year.
It is suitable for:
- Frequent visitors who are interested in buying overseas but want to experience the resort or location before committing to whole ownership
- People who would like to invest in property in several different countries or resort locations to reduce their financial commitment in a single destination
- People who could afford whole ownership of a holiday home but would not use it sufficiently to justify a whole purchase
- Buyers who could afford a cheaper second home but really want to spend time at a larger, higher specification holiday property
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Please refer also to our FAQ page for even more FAQs or visit our general fractional ownership page for Italy.