Co-owner Steve Lovell notes, "A Private Residence Club is an ideal way for one owner of a historic property to share the daily enjoyment of that property with a number of other likeminded individuals. This model is designed to ensure the preservation and local community relevance of the property over the long term."
In 2010 and 2011 the Queen Anne Mansion was opened to the public as a museum and event space, but its owners quickly found that was not financially feasible. The new use is not only aligned with the National Trust's interest in encouraging use of historic sites as more than just monuments or museums, but makes more financial sense as a way to ensure its preservation for many years to come.
Preserving Historic Homes Through Fractional Real Estate Ownership
Private Residence Club pioneer David Disick, who is advising the Lovells, told me that he believes, "preserving homes such as the Queen Anne Mansion through Private Residence Clubs could be the wave of the future."
As of yet, using a Private Residence Club model to preserve a treasured historic home is unique to The Queen Anne. But in an economic environment in which few can afford the maintenance and upkeep on a second home that is used for just a few weeks a year, shared ownership offers a very innovative business model that could be used in the future for other historic homes and structures.
The Queen Anne Mansion includes seven suites that appeal to those who have a "passion for turn-of the-century architecture and antiques" as well as the "amenity-rich experience of owing at the 1891 Mansion," said to recapture "the gentility, graciousness and civility that are so often missing from daily life in the 21st century."
Yet the Queen Anne also includes the modern amenities you would receive at upscale, five-star hotels, such as spa services, concierge, maid services and turndown. A variety of a la carte amenities are also available, including dining, laundry and dry cleaning, airport transfers, spa and a daily change of linens. A hot breakfast is served daily, with a gracious Sunday dinner available in addition to Friday evening cocktails.
The Mansion offers a Courtyard Bar as well as an intimate media room on the garden level and a well-appointed game room with backgammon and chess.
Disick likens Eureka Springs to Telluride, Colorado, the town in which he discovered a "quiet renaissance growing and helped steer it to prominence among the world's great destinations." Eureka Springs is home to over 400 artists, and a magnet for performing and fine arts and recently made the list as the only U.S. destination on Travel & Leisure's "12 Hottest Travel Destinations for 2012."
The Queen Anne is located at the entrance of Eureka Spring's historic downtown, making it convenient to dining, shopping and nightlife as well as the area's scenic surroundings filled with lakes, rivers and state parks.
Details of Fractional Ownership
In the Mansion's model, the first 12 Patron Owners of The Queen Anne Mansion Preservation Trust will benefit from privileged launch pricing of $150,000 per interest. A threshold to closing of 24 deposits has been established, at which point each of the owners will begin to have access to the property.
Ownership will afford each purchaser the right to reserve a minimum of 28 nights of annual usage in seven-night blocks. Owners may reserve a single suite, multiple suites or the entire estate, with each suite counting as one night of usage. Additional nights beyond the 28 reserved nights may be enjoyed on a space-available basis to owners and their accompanied guests via the Club reservation system.
Membership fees are then $695 per month which includes everything such as property taxes, insurance, complementary Friday evening drinks and complementary Sunday dinner.