Ownership
Frequently Asked Questions
1. Is the property offered ‘deeded property’?
Yes, the property deeds are owned by a UK based company (Appassionata Giacomo Leopardi Limited). Members own the company, the company owns the property.
2. Are the weeks offered fixed or variable?
The weeks are reserved each year on a rotating priority basis, to ensure each owner always receives 2 weeks in the peak season and 3 weeks in the off peak season.
3. Is the building completed yet?
The newly built, four bedroomed Casa Giacomo is ready for occupation, there is one share remaining! The five bedroomed, traditional farmhouse Casa Leopardi is currently being restored and will be launched in the Spring of 2012.
4. How much does it cost?
The price for a share in Casa Giacomo is £105,000. Casa Leopardi’s shares are currently set to launch at £155,000 each.
5. Exactly what does ownership include?
A 1/10th fractional share (5 weeks ownership) of Appassionata’s properties includes:
• A share of wine, olive oil, truffle oils and lavender produced on the estate owned vineyard, truffle orchard, olive groves and plantations
A right over the specific property as well as common areas of the Estate, this includes:
• The communal gardens
• Swimming pool
• Tennis court
• Olive groves
• Truffle farm
• Vineyard
6. What fees do you charge?
There are no application fees. Appassionata charges an annual maintenance fee which is costed and equally split between all of the owners.
7. How long has the company been operational?
Appassionata Ltd. has been operational since 2007.
8. Can I visit the property before buying a share?
Yes, we would strongly recommend an inspection trip as soon as possible. For those who are truly interested in knowing more we are offering a wonderful opportunity to visit Le Marche. Visit Us.
9. If I decide to purchase a fractional share in a property, can I change my mind: if so, by when?
Yes, of course. We allow a 14 day ‘cooling off’ period after we have received your completed application form, just in case you should change your mind.
10. What is the process if I wish to sell my fraction in the property at any time in the future?
You are free to sell your fractions at any time, at a price that you agree with the purchasing party. Re-sale of a share in an Appassionata property must first be offered to existing owners, through Appassionata, before offering to a third party. Appassionata will assist owners in the sale of their membership if they desire.
11. How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come first served and is there any priority amongst owners?
You will get an opportunity, on a rotating priority basis, to book these periods and you can always exchange weeks with other owners as well as the service weeks held by Appassionata. Furthermore, your weeks can be exchanged with co-owners, exchanged with fractional owners all over the world through the FractionalExchange.com, used by friends and family or rented to a third party.
12. Are there any fees in addition to the fractional property purchase?
No
13. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future?
Appassionata has positioned its initial fractional purchase costs at a very competitive price. It is intended that these prices will increase over time to reflect the true value of the development.
14. Are there any ownership rules – e.g. are pets and is smoking allowed?
House rules will be made available as part of the application process, two important rules are that pets cannot be accommodated and smoking is not allowed inside any of the properties.
15. What other amenities can I expect at the resort?
The Estate of Giacomo Leopardi has an all weather tennis court (with basket ball net), large 15m x 6m swimming pool, newly planted vineyard, newly planted truffle farm, olive groves, lavender plantation and wonderful, landscaped gardens. The website has further details in the property section.
16. Who owns the properties at present and what happens if the property company fails?
The property is owned by a non trading, UK registered, limited liability company which has been established to operate the estate on behalf of all its members. There is no external funding for this project; the cost of the development and purchasing the land has been funded by Appassionata Ltd through an inter-company loan and can only be repaid as fractions are sold.
17. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available?
Appassionata is set in the wonderful region of Le Marche which boasts a tremendous combination of history, culture and leisure activities. This is real Italy, where many Italians take their annual holidays. The two properties on the Estate Giacomo Leopardi are beautifully positioned, with sea and mountain views. The quality of the construction, interior furnishings and facilities reflect a truly luxurious proposition. Appassionata is not only the developer but the provider of the property management.
Appassionata is a small boutique business, and provide on-going management; we are not a large faceless commercial organisation. Our pricing structure reflects tremendous value and is hard to find in an equivalent development. Please come and see for yourself!
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