Rocksure Property is launching its new European focused Capital Fund, which follows on the success of its more global Alpha and Bravo funds. The new fund plans to buy ten spacious, luxuriously-furnished apartments or town houses in ten of the most interesting, glamorous and entertaining cities in Europe.

Rocksures earlier funds have bought homes in Brazil, Thailand, the USA and Morocco as well as in Europe, for use by their shareholder members. The Capital Fund offers equity investments in some of the most stylish European destinations: Paris, Cannes, London, Barcelona, Marbella, Venice, Florence, Rome, Prague and Vienna.

Locations

The fund is looking in up-scale residential areas in each of the cities. These will be convenient for both personal and business travellers. David Rogers, a Rocksure Director, told me they haven't identified the exact locations for the (Capital Fund) homes, but they have covered some of the cities walking the streets on the ground, and have covered others by desktop research. "We know exactly what we want" said David.

The Residences

The properties will average at least 1500 sq.ft. (150 sq.m) with 2 bedrooms and 2 bathrooms, a good-sized and very comfortable living room with wide-screen TV, DVD etc., a dining area and a kitchen. The average value will be over 1 million euros.

"It is a great time to buy (properties)" commented Rogers "Rocksure will be able to buy properties at a very good price".

Services

Each home will be professionally managed on behalf of the Fund and services will include daily maid services for bed making, washing up and general cleaning. Each property will be supported by a professional Concierge Service which will arrange everything from a limousine to a massage or beauty treatment, from a theatre ticket to restaurant reservations.

Investment

Shareholders can choose to invest a sum which entitles them to an average of 7, 14, 21 or 28 nights (or more) rent-free each year. Investors can then choose any of the properties for a 3-night weekend or 4-night mid-week stay or a 7-night combination. Investment in a half unit is available at €57,500 (U$75,000) allowing an average of 7 nights, ideal for two 'short breaks' each year (with an €1,050 first year's maintenance charge). A full unit of shares is also available for €115,000 (U$149,000) allowing shareholders an average of 14 nights. The annual maintenance charges are €2,100 (U$2,700) for a full unit. "We only buy properties with shareholder cash that we have, and we pay 100% cash for every house we buy" said David Rogers, "with this structure we don't suffer from any interest burden and we don't lose any properties." "We will buy a property when we get to approximately 17 subscriptions" he continued.

The fund plans to sell the properties 10 years from the final closing of the fund and return the proceeds including any appreciation to the shareholders.

Rocksure is also offering a combined investment in the Capital Fund and the worldwide Rocksure Property Bravo Fund for less than €217,000 (U$280,000) giving investors access to 16 properties in 12 countries around the world. The Bravo Fund destinations include Brazil, Thailand, Portugal, Morocco, the Rockies and Croatia.

"One of the Alpha Fund shareholders called up and said he wanted to be first in the Capital Fund," said David Rogers, reflecting the degree to which his shareholders enjoy the concept.

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