Financier Briefing October 2010
Peralta Beach Lda 108 Princedale Road London, W11 4NH
Peralta Beach
Introduction •
Peralta Beach is a new development on Portugal’s Silver Coast
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Set in a beautiful unspoilt location that looks straight to the Ocean, with direct pathway access to the beach
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Lisbon International Airport is only 40 minutes
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Peralta benefits from the facilities and attractions of nearby Lourinha & Obidos, & its proximity to Lisbon
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Designed in an eco friendly, stunning contemporary style; this is the new face of Portuguese property
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Boutique high end developments, with strong hospitality led marketing, are the new marketplace
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Product and mix already successfully established at Joia das Dunas
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The development consist of 27 residences and a 10 bedroom spa hotel
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Designed by renown Portuguese architect Vasco Vieira, who also designed the award winning Joia das Dunas resort
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Views maximised and impact minimised by units set by semi circles into the hill
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Underground access and parking, so no cars
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A private condominium, with first class services & facilities
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Full building license & team in place
Joia das Dunas •
A sister development already established 5km along the coast
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George Sitwell also co-financier from project’s inception
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Also designed by Vasco Vieira & consists of 18 residences and 10 bed boutique spa hotel
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The residences were completed in 2009 and 11 of 18 now sold
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The hotel, called Areias do Seixo, opened in 2010 to huge acclaim and immediate 100% occupancy
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Villas in rental pool experiencing strong occupancy at asking prices
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Peralta enjoys a better location & masterplan layout, superior amenities and larger units
The Team • Project leader – George Sitwell – Co-financier & developer of the highly successful Joia das Dunas – Ex merchant banker – Excellent track record in other property investments • Architect – Vasco Vieira • Contractors – Jose Coutino S.A. – Well known & respected, with long track record on Silver Coast • Sales Agents – Pure International – Well known agents with international client base – Agents to Joia das Dunas • Mortgage Brokers – Corporate & Commercial Group • Valuers - CPU • Lawyers – AMS & Associados, Lisbon • Tax Advisors – Caetano de Freitas & Associados • Accountants – AB Consultores • Hotel Advisors - ACC Portugal
Key current factors •
First class contractor in place, ready to go. Contract recently renegotiated down 21%
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Full team assembled, who have worked together for over 2 years now
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Full license in place until 2014, and can be extended further
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EU grants of 40% of total hotel cost available; Peralta a special EU zone
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Product de risked and proven by Joia dasDunas
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Essential for phase 1 to be well underway in order to achieve sales in this market environment, hence funding requirement
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Land and sale prices confirmed by CPU’s April 2010 valuation
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Land behind for secondary phases is available for purchase
Peralta Beach