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Premium online estate agency, Simplyzigzag.com, has announced today it will be co-marketing a new Seed Capital Investment Fund (“SCIF”) that is to be launched this week. The SCIF is looking to raise £5 million to help a successful developer build a luxury 6* resort, villa complex and international school in Thailand. This is the first ever one of its kind for an online estate agency and is an exciting new venture.
The SCIF is looking to raise £5 million to provide funds for the acquisition of the site; whilst the SCIF, through its Special Purpose Vehicle, acquires beneficial ownership of the land. The deal represents a strategy that allows for a quick and defined exit in 12 months, with a guaranteed 30% return1 for a minimum £25,000 investment. If the investment period is longer than 12 months additional payments will be made, up to a total return of 42%.
The developer has been working with the sellers since 2006 and agreed an option purchase price of $18 million. The latest valuation report by CBRE, valued the site at approximately $40.6 million. Planning permission has already been granted for residencies and this will now be adapted to accommodate a mix of hotel and residencies. The internationally acclaimed multidisciplinary design firm, WOHA, has been appointed as designers and architects.
Achim Amann, Director at Simplyzigzag.com, comments: “This is a first for us and a first for this industry. Simplyzigzag.com is about giving direct access to our clients and customers for the best deals in the global property market. Subsequently, this Fund represents the first move into the more commercial sector, and we believe that by offering directly to the client, they along with more serious investors and institutions, have the ability to benefit from opportunities.”
The developer is renowned in its field with vast experience in delivering luxury developments across the world. They have worked with Four Seasons, Park Hyatt and Mandarin Oriental in Thailand and know the country very well. The developers have sourced 108 acres of prime residential land close to Pattaya City for development of a luxury level, all-villa hotel and residential villas for sale. Pattaya sits on the highest vantage point overlooking the Gulf of Thailand and does not yet have a luxury residential or hotel compound. Tourism to the area attracts roughly 5.4 million visitors annually and it is 1.5hours drive from Bangkok.
For further information on the Seed Capital Investment Fund, GHG’s executive summary on the project and images, please go to Simplyzigzag.com's website.
Notes:
1. Other costs include a 1.5% +VAT setup cost for the legal setup and company formation. There is also a reserve of 1.8% which is held for client security for any unforeseen circumstances relating to the process and is refunded in full at the end of the investment. This is held by the lawyers and refunded in full at the end of the investment.
2. The Property is zoned for residential/hospitality use. The Master Plan complies with the regulations for outline planning consent regarding heights and densities; so the process of obtaining outline consent should present no difficulty. The next stage will be to draw up detailed plans and to undertake an Environmental Impact Assessment. The local architectural advisors will ensure the detailed plans comply with building and planning regulations, with the expectation that they will be passed without hindrance. Furthermore, Thailand has a different planning process than Europe and planning is automatically accepted once you stay within the guidelines.
Simplyzigzag Limited
Launched in June 2008, Simplyzigzag.com is a premium online estate agency, offering homeowners a direct sales platform for private home sales throughout the UK. The Directors are dedicated to providing a better way of selling your home, at a lower or fixed-cost, without the experience of being charged a large commission fee.
Simultaneously, Simplyzigzag.com is also a low-cost web-based estate agency, proposing properties, developments and investment opportunities in the UK and overseas, ranging from luxury villas in the south of France to developments in Sharm el Sheikh, Egypt.
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