BY DAVID ROGERS – Founding Director of Rocksure
With house prices in London having appreciated at unprecedented rates in recent years, for many owning a second home will seem like a distant dream. It’s well known for example that residential property in prime areas of the capital has been the best performing asset class in the UK for many decades- with prices doubling on average every nine years. But with prices of two bedroom flats in areas such as Westminster now around £2.5 million or more, many have been priced out of owning a first, let alone a second home.
But what if you could own a luxurious second, third or even fourth home in one of these exclusive post-codes? That’s where fractional ownership and shared equity ownership specialists Rocksure comes in. An often misunderstood concept, the sector has bucked economic trends in recent years, becoming an increasingly favourable option for those who want to enjoy a share in the capital appreciation of lucrative property markets the world over.
Testament to this is the fact that here at Rocksure, we have raised over $35 million of investments from over 170 investors in our luxury property Funds since we launched 8 years ago. Founded by myself and Desmond Patrick-Smith, our aim was to create a smart way to own a second home. Rather than investing all of your money into a single property, our Funds are designed to open up the second home market to offer a flexible, investment-savvy way to own multiple properties. We offer our shareholders co-ownership of portfolios of luxury apartments and villas around the globe, and our property Funds provide opportunities for both capital appreciation and enjoyment.
Investors are able to use properties included in Rocksure Funds for a number of nights at times of their choosing each year and also have the security of a planned exit strategy. All of our Funds have a finite life at the end of which all properties will be sold and the proceeds together with any capital gain will be shared between investors.
Our most recently launched London Fund for example, means that it is now possible for individuals or companies to invest a one off capital sum of as little as £122,500 in London’s prime property market and enjoy a share of four luxury apartments to be purchased in areas such as Kensington, Chelsea, Westminster and Covent Garden. Investors will be able to use them for an average of 9 nights a year when investing in a half unit and look forward to the potential of benefiting from their capital gain over the coming decade.
We also take complete care of absolutely all management requirements taking the hassle out of owning a second home and ensuring that all of the properties are immaculately maintained.
For those who are merely interested in gaining a stake in the London property market as an investment opportunity, but would prefer to holiday elsewhere, we have created an inter-fund usage programme allowing investors to use their allocated nights towards stays at any of the other properties across the entire Rocksure portfolio across the globe offering flexible travel all year round.
We realise that some might prefer to apply our model to international purchases so also offer investments in the Crystal, Capital and Liberty Funds. Opening up the overseas property market, the Crystal Fund focuses on magnificent villas in some of the world’s most desirable destinations, whilst the Capital and Liberty Funds boast a selection of elegant apartments across both Europe’s most romantic locations and America’s most celebrated cities. The Manhattan Fund is a sister Fund to the London Fund which will purchase four apartments in New York.
Whatever your preference, we at Rocksure strive to open up the second home market to a wider cross section of the public offering intelligent but equally enjoyable investment opportunities to benefit the whole family, all year round.
David Rogers is a former Chief Operating Officer responsible for Abercrombie & Kent’s many operating companies around the world. He has more than 40 years’ experience of international luxury travel operations and is well able to ensure that the houses around the world are expertly managed and maintained. David read Law at Magdalene College, Cambridge.
His passion for the world, fuelled by two years as a District Assistant in Africa and other travels, outweighed his interest in the law, however, and he started his first company Supertravel, in Knightsbridge, London, at the age of 24. Supertravel had grown into one of the largest privately owned luxury tour operators in the UK, specialising in winter sports, by the time David sold out in 1984.
Soon afterwards, he identified an opportunity for a joint venture with Abercrombie & Kent in connection with inbound travel from the USA to Europe and a company was formed in 1988. It grew rapidly into a highly-profitable business and David sold his shares to Abercrombie & Kent some ten years later.
David’s knowledge of the world and his experience of the provision of high-quality accommodation, transportation, food and wine, are almost unmatched. He now brings all of this experience to Rocksure, for which he has worked full-time since it started in 2005.