Studio and one-bed fully-serviced apartments from £24,950 pre-launch offer

Side Property · #1 29-09-2007, 08:43 AM

Announcing 'Villa Alexander the Great' - from £24,950 (pre-launch offer)
Side Property's second development, after the iconic Villa Cleopatra, will be Villa Alexander the Great - a five-star complex of smaller holiday apartments in a great location with service included. Highlights include an indoor heated swimming pool, a pool-side bar with waiter service and weekly maid service included in the service charge. The pre-launch offer gives early investors a chance to buy below market prices in return for helping to fund the initial costs of the project.

Concept
Practically all new development around Side in recent years has tended to be large complexes of two, three and four bedroom residential apartments being built ever further away from the beach and the resort amenities. Some of these are now a bus-journey away from Side! We at Side Property are frequently asked to recommend the best investment purchase for holiday lets. The advice is always the same - rental values vary much less than capital values so it is best to buy something cheap but well-located for holidays, i.e. near the beach, bars, restaurants and shops. However, there is a dearth of this type of property.

Villa Alexander the Great is therefore designed to meet the demand for high-quality holiday properties in a good resort location and provide the highest possible letting prospects for the capital expenditure. In a radical departure for the Side property market but in tune with pent-up demand, this project will comprise 'five-star' studio and one bedroom apartments (accommodating up to three and four guests respectively) designed for high-value holiday lets. They will be fully serviced all year round in order to capitalise on Side's thriving winter tourism and thereby further boost potential letting income. Individual apartment cleaning and laundry of towels and sheets will be included in the monthly service charge, thereby greatly reducing the usual expenses associated with letting a holiday home.

Facilities
Gardens planted with Egyptian palm trees
20m swimming pool
Pool terrace with sun beds and umbrellas
Pool-side private bar with waiter service
Indoor heated pool (winter months)
Pool-side showers
Fitness area with Concept 2 Rower and multi-gym
Communal bicycles available for free loan
24 hour reception, security and concierge services
Satellite TV system
Weekly maid service with change of towels and sheets (included in the monthly service charge)
Off-road parking
Bicycle parking
Security lighting

The service charge is estimated at £35-40 per calendar month.

Apartment Specification
Fully air-conditioned (cooling and heating)
Fully-tiled bathroom - choice of ceramics
Choice of bath with shower over or walk-in shower
Wall-hung WC, inset marble wash basin and oversized inset mirror
Hairdryer and electric shaver point
Chrome mono-bloc mixer taps, towel rail and towel rack
Ceramic tiled floors - options to upgrade to high gloss ceramic, porcelain, travertine, marble or granite
Kitchenette with granite work top and ceramic-tiled splash-backs
Inset sink and hob
Extractor
Fridge-freezer
Microwave oven
Dishwasher
Flat-screen LCD TV (upgradable to wall-mounted plasma)
Large, child-safe balcony
solar hot-water with electric back-up
card-operated energy-saver system
steel multi-locking front door

Furnishings
Side Property will offer, without obligation, to fully furnish and equip an apartment for high-value holiday lets at a discounted package price. Full details will be available nearer the time of completion.

Title.
All apartments are sold freehold, being the apartment purchased plus a share of the land the complex is built on. In the Side area, only two title deeds are allowed vertically and so single-floor apartments are sold as 50% of two apartments. The actual apartment of the two being purchased is recorded at the land registry. In compliance with the strict low-density planning regulations in Side, Villa Alexander the Great will be built on a maximum of 20% of the plot (excluding swimming pool, terraces, external stairs and balconies) and be a maximum of four storeys including the roof floor.

Warranty
There is a two-year unconditional guarantee on workmanship and materials, two year guarantee on all appliances and a 15 year underwritten construction warranty.

Pre-launch Prices
Unlike most new developments in Side, Villa Alexander the Great will be fully funded, i.e. the land will be 100% owned by Side Property Ltd as developers before commencing. This is a necessary measure to keep the unit prices as low as possible. We are therefore offering the following special pre-launch, direct prices and payment plan in order to help purchase the land and fund the initial costs of this project.

Studio apartment (28-31 sq m): ground floor £24,950, 1st, 2nd or roof floor £26,950.
One bedroom apartment (35-40 sq m): ground floor £29,950, 1st, 2nd or roof floor £32,950.
Payment plan: £500 reservation deposit, the balance to 50% 28th February 2008, 20% 1st October 2008, 20% 1st October 2009, 10% upon completion March 2010.

The project is at a pre-planning stage. Once the final plans have been approved (Summer 2008), pre-launch buyers will be given priority choice of apartments from those available of that type, in the order in which they are reserved. Each sales agreement will therefore give a reservation number indicating this order. There will also be the option to change the type or floor of the apartment subject to availability and the difference in prices in effect at that time, or to cancel the purchase and receive an unconditional refund of all monies paid. Once all pre-launch buyers have chosen their apartments off-plan, the remainder will be released for sale. The above specification and facilities of the complex forms part of the sales agreement.

Legal fees and taxes
The local firm of lawyers that Side Property Ltd recommends has been established many years and deals with most English-speaking buyers in the Side area. Their fee of 1% of the purchase price includes the following:
Drawing up sale contracts
Drawing up power of attorney and acting on behalf of the buyer(s) (if required)
Making the necessary applications and enquiries to the local authorities, land registry and for the searches (including the military search)
Translating buyer(s) passport(s)
Providing the required licenced translator at the Notary Public and/or land Registry
Follow the transaction from start until completion on behalf of the buyer(s).
Also budget for purchase taxes of approximately 3% of the declared value and notary fees of around £50. The minimum value is determined by the local council on the day the new title deeds are issued. Ongoing property taxes are 0.3% of the declared value per year.

Side (see'day) - the Jewel of the Turkish Riviera
Side has the the climate of Marbella, 10 months annual sunshine, sea temperatures that never go below 17 deg. C, World-famous antiquities, miles of sandy beaches, the only Links golf course in the Mediterranean (opening this November) and is just 40 minutes from Antalya airport with flights from Northern Europe every day of the year. Then there are the sublime Turkish baths, the fabulous shopping, Winter skiing under 80 miles away, one of the finest cuisines of the World plus all the usual Mediterranean nightlife!

Side Property
Side Property is owned and managed by the ethically-minded English ex-pat, Tim Millea, and is unlike any other seller of property in the area:

- Open, honest, fair, low-cost and ethical
- No buying fees or charges whatsoever
- Cash rebate of up to 4% on all new-build properties
- Extensive network of local contacts built up since 1999
- Sell your property for just 3% (sole agency) fully inclusive. No sale - no fee.
- Sell any property bought through us for just 2% - compare this to other agents' 10% plus
- Free property-finder service for our many clients with custom requirements
- Comprehensive property and rental management services - exclusively for properties in Side bought through us.

"I am 100% confident that we can obtain the best sale price on any property in Side. If you are looking to buy, please allow us to do the work, negotiate on your behalf, save you some serious money and give you honest and valuable advice in the process. If you are interested in buying a property not listed on our website, just let us know and we will obtain the lowest possible price."

Timothy A Millea M.Sc. (Oxon) B.Sc. (Dunelm)
Managing Director, Side Property (Estate Agents, Construction and Tourism) Co. Ltd.

Please see the Side Property web site for further information.

propertastic · #2 29-09-2007, 07:12 PM

Looks like a good offer to me.

I was on holiday a few weeks ago with my girlfriend in Alanya and I have to say that I wasn't very impressed with Alanya at all. It seemed to be quite low-class and already in danger of getting over-developed. I was quite surprised to read that there were 16,000 unsold apartments in the city though. I imagine that they should start moving again after the announcement that Alanya is getting a new international airport from next year though.

We made a very quick (45 minutes) visit to Side while we were there and I commented to my girlfriend at the time that I thought that Side was a much better bet for property investment than Alanya. It seemed to have a more upmarket feel to it than Alanya - as you say, Side is more Marbella compared to Alanya's Torremolinos.

Good luck with the project.

Side Property · #3 30-09-2007, 07:27 AM

Propertastic,

Thanks for your kind comments. I am excited about the project though I seem to have irritated the larger developers already! It is strange that what Westerners would regard as 'ripping-off' is considered 'good business' in Turkey, while what we would consider 'fair competition' they regard as 'unfair cheating'! I expect they will all be copying this project in a couple of years.

I liked the Alanya-Torremolinos comparison, I think it is very fair. Before moving to Side, I lived for a while in Southern Spain and got to know that coast well too. It would appear to the naked eye that no attempt was made to control the development in either Alanya or Torremolinos and while they are both unashamedly down-market, the back streets retain a charm native to their respective countries.

Side has always been upmarket, international and the the young would say 'old'. Development is incredibly tightly controlled - 6.5m max height, 20% maxium density, and 40% of the land is given over to parks, sports facilities and other community uses. When the two big developers from the Aegean coast arrived a couple of years ago to start building in Side, they had a big shock to find they could not bribe their way around the regulations. By all accounts they both lost money on their projects and pulled out. The eye of Ankara is firmly focussed on exploiting Side as an icon of Turkey Worldwide.

I first bought in Spain, in a village called Torrox, in 1991, around 10 years before prices went crazy there. Unfortunately, at least financially, I pulled out just before. I prefer Side to live in than any other place I have been. I know I am ahead of the crowds again, but this time I intend to stick it out until well-after they catch on!

Tim.

Side Property · #4 08-10-2007, 06:49 PM

Side Property is currently offering the following incentives for the purchase of more than one Alexander the Great apartment. There are strictly no discounts or further concessions available (so please don't ask) and this offer will be withdrawn without notice.

a) furnishings and full contents for letting
b) upgrade from LCD TV to wall-mounted plasma TV
c) upgrade to high-gloss ceramic or travertine floors

For buying:
2 units - chose one from above
3 units - choose two
4 units - all three

In addition, two of the above incentives could be exchanged for: d) an upgrade to granite floors - deliciously opulent, expensive and practical.

Sales update - seven apartment have so far been reserved as follows:
1-bed apartments ground floor, 1 reserved
1-bed apartments other floors, 6 reserved
Studio apartments none reserved.

If you have any questions, please do not hesitate to ask.

Regards,

Tim.