“A low risk stable source of regular and excellent income delivering fabulous total returns!” 

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The Project

 

Invest in luxury apartments for the next generation of Cyprus and Overseas students living in Nicosia. With student accommodation, already unquestionably the best performing investment sector in Cyprus year after year, the luxury apartments we are now in a position to offer you by the University of Cyprus, can certainly be counted among our crown jewels. Not only are they the best located units in the area, but they are also rented out, managed, and maintained on behalf of the owners hands-free by Cyprus' number one student operator, Nelaza.

 

Exclusive high-yielding opportunity
Make sure you make the most of your money and don't miss out on this exclusive opportunity.

 

1. Executive Summary

 

This under development complex of ten, 1 bedroom and ten, 2 bedroom luxury Flats, is for sale under a Crowdfunding structure. The project's market value is €3,000,000 and the purchase price is €2,000,000 (33% below market value). There is €1,000,000 existing mortgage and our contribution is €1,000,000.

 

1. There are 50 shares available at €20,000 each.

2. There is an 7% guaranteed yield for 5 years which has already been agreed on behalf of the Shareholders.

3. After 5 years the properties will be sold and the capital gains distributed to reflect the Shareholdings. With an already improving market we expect to sell at least at the current market value or €3,000,000.

4. Articles of Association will confirm all information included in this memorandum and will be registered at Companies House plus every shareholder will have a copy.

5.Under company law an AGM will be held every year and the minutes will be distributed to all Shareholders.

6.The exit sale will be arranged by Bullseye.

7.The 7% guaranteed yield will be used to pay the mortgage and other expenses. The remaining balance will be paid yearly in arrears to all Shareholders.

8. Bullseye will take 10% of capital growth on completion of exit sale.

 

Forecast: Sell at least at current market value = €3,000,000

Profit = €3,000,000 - €2,000,000 = €1,000,000

Total Return = €1,000,000 / €1,000,000 = 100%*

For every €20,000 a return of €40,000*

 

*subject to taxation and management fees.

2. Project Details

 

Invest in a well-performing asset class in a high demand area. This project will cater to and exceed the needs of the growing number of students, providing individually-designed luxury apartments for the next generation of Cyprus and overseas students living in Nicosia. 

 

This high-spec development comes with great transport links and on-site facilities. All apartments are designed to have spacious living areas and balconies along with large bedrooms. All apartments come with a private parking space, a private storage room on the ground floor and and the luxury of a communal pool.

 

3. The Crowdfunding Process
 

Property crowdfunding is the process of multiple investors coming together to buy a property. Investors receive their returns through monthly rental income and movement in property prices. We have negotiated an option to purchase at an agreed price. The funds to purchase these properties are then crowdfunded on our platform within a specified time period. We enter into a binding commitment to purchase a property prior to presenting it on our platform for crowdfunding, to provide surety to the property vendor that the transaction will complete. In those instances we ensure that we have sufficient capital to underwrite the transaction.
 

When you commit funds to this project, money will be sent to the client account but no money will actually leave the client account until the crowdfunding target is reached. If the crowdfunding target is not reached, your funds will be returned. Your investment in property on the platform is made via the purchase of shares in a Special purpose vehicle (SPV), which is a Company, established specifically for purchasing that individual project. There is a different SPV for every project; therefore you will always know that you are investing in a specific project chosen by you.
 

At the point of investment you will be required to enter a set of investment documents. These are standard form for each investment and sample documents can be accessed before you decide to invest. We encourage you to seek independent legal advice if you require assistance

4. Income

You beneficially own a portion of the project  via the SPV. You will receive a share of the Dividends every year, in direct proportion to your ownership of the SPV that owns the project. The Dividends available to property investors are calculated as the Gross Rent collected minus mortgage payments, property-related costs and maintenance of the SPV. Under no circumstances will you be required to contribute further capital. To coincide with payment of Dividends, each year we’ll also provide you with an estimated valuation of your investments so that you can monitor any capital returns.

5. Exit Strategy

Five years from the completion of the transaction, we expect to have sold all properties. This process is outlined as follows. The properties are inspected and valued by an independent Chartered Surveyor. We will then commence proceedings to sell the underlying properties. The properties will be advertised for sale on the open market at the valuation determined by the Chartered Surveyor. Bullseye will administer this process and is obliged to act in the interests of investors to maximize financial return. On the completion of the sale, all Investors in that property will be exited and net proceeds will be distributed in direct proportion to your ownership of the SPV.

 

6. Extra Profit potential

 
Due to the recovering market, it’s very likely that in the next few years there might be a 10-30% property appreciation thus increasing profits accordingly. 

7. Tax Benefits

Our investment will benefit from a 50% reduction of transfer fees and the temporary exemption from capital gains tax (available for purchases done before the end of 2016).

8. Discounts and Offers

If you do decide to invest with us, you can also enjoy the following discounts and offers. For every investment of €20,000 you get 5 days of free accommodation (value €500), in one of our properties plus 30% discount for any additional days / services.

9. Market Description

It is evident from the improved fiscal indicators that the Cyprus economy is slowly entering a path of recovery. For the real estate market the significant increase of 20,18% in sales deeds during 2014 is a strong sign that the market may be starting to recover.

 

The local demand is very strong due to the culture of Cypriots who consider owning their own home as an absolute must and will do their best to achieve it once they get married. The parents also help to a great extend saving money all their life to help their kids buy a house. Home ownership in Cyprus is one of the highest in Europe at more than 80%.

Foreign buyers also started to come back due to the improving economy, lower prices and generous incentives offered by the government. We have the traditional foreign buyers who choose Cyprus for its beaches, friendly culture and ever-shining sun. The last few years we also have buyers from China, Russia, Ukraine and Middle East buying properties for investment and/or to obtain Cyprus (EU) Citizenship & Permanent Residence.

 

Looking for Cyprus Distressed or Repossessed Properties?

Distressed Real Estate has consistently proven to be an extremely lucrative investment.

 

The best-performing asset class

 

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