Rocksure Property Launches The Crystal Fund

By: Destination Club News
Date: February 2, 2011

Rocksure Property, one of the leading destination clubs in the United Kingdom, has launched their third international villa fund, the Crystal Fund. Joining the Alpha, Bravo, Capital and recently launched Quintessentially Platinum Fund in the Rocksure family of clubs, Crystal will consist of £1 million residences in Provence, St Lucia, Corfu, Andalucía, Marrakech and the Algarve.

In all, 45 total shareholder units will be available in the new fund, with each member receiving an average of four weeks at club properties, two weeks of high season travel and two mid-season weeks. The full investment price is available from £238,000 but a limited number of "early bird" units are available at the reduced rate of £226,000. Annual dues will be £4,800 with surcharges of £400 and £800 per week for high season and peak season weeks respectively.

Unlike many other destination clubs who purchase new properties in anticipation of new membership growth, Rocksure Property acquires their residences after a requisite number of members join the club. We spoke with Rocksure Property Founder David Rogers about this unique acquisition philosophy last year. "We have never in five years bought a property without having sufficient Shareholders' money to cover the purchase price and related costs, including furnishings, in the bank in advance," Rogers told us. "The reasons are partly because we don't think that our Shareholders have signed up to us taking that kind of risk on their behalf, partly because we don't want to add mortgage interest to the normal running costs of the properties, and partly because we have proved that we can buy better if we can offer full payment in cash to the vendors. Our investors pay 100% cash up-front to us and we pay 100% cash to the vendors."

The internal expansion of Rocksure Property mirrors many other destination clubs. Quintess and Club Holdings have created companion clubs DUO and the PGA Tour Club. The Hideaways Club has launched The City Collection, a new fund focusing on urban destinations. We have reached out to Rocksure to see if more funds are on the way and look forward to hearing more.