Halcyon Hills 1 Bedroom Superior Villa

Halcyon Hills is a 5 star Spa and Marina resort in the off plan stages of development. Once completed, it will become one of the key hotel resorts in Greece and will target the luxury tourist sector which includes resorts such as The Porto Elounda and Blue Palace. Features of the resort will include a world class spa, marina, tennis courts, gymnasium and a number of bars and restaurants - including a signature fine dining restaurant.

Samos is a truly stunning island with a wealth of history and culture at your fingertips. Feel time start to
slowly glide backwards as you relax into the island life.

Samos is the foremost part of the Samos prefecture which also contains the neighbouring islands of Ikaria and the smaller
islands of Fourni Korseon. Samos is the eighth largest Greek island with a coastline of 86 nautical miles and an area of
478 km2; it is 43km long and 13km wide. The landscape consists mainly of farmland, pastures and forest and being one of the most fertile islands of the Aegean Sea, it is covered with vineyards growing Vathy grapes for the famous Samian wine. Samos island is mountainous and is home to two mountains over 1100 metres in height the largest is called Kerketeus which  forms the western tip of the island and stands at 1433 metres / 4,701 ft above sea level (higher than Ben Nevis!). The Greek island of Samos
is situated to the west of Turkey, in the Aegean Sea. It is surrounded by many other Greek islands such as Ikaria to the west and
Chios to the North. Travel Samos can be reached by both air and sea. Its International Airport (SMI) is located in the Pythagorion region and receives direct charter flights from London and Manchester throughout the summer, along with daily connections to and from a number of other countries. Direct flights from the UK to Samos, which take approximately 3-4 hours, and the island is also easily accessible by ferry from Turkey and nearby islands.
Transport The public transportation system on Samos is very thorough; all major towns and beaches are connected by a high quality bus service and this, along with the use of ferries and taxis, make getting around the island convenient and
straightforward.
There are also several car hire companies operating on Samos, for example Autoplan Car Rentals (www.diavlos.gr/samos/autoplan) and Aramis Car Hire (www.samosrentacar.com). Attractions Samos is renowned for its history, architecture and culture, which can be explored at the many museums and archaeological sites on the island including the Temples of Hera and Aphrodite. Other historical attractions include the Polycratian wall and the castle of early Christian Basilica, which are both located next to the church of Metamorphosis in Pythagorio.

Many visitors like to take advantage of the impressive diving and sailing opportunities available around Samos, especially popular
at Kokkari Beach near Samos Town on the North of the Island. There are also several tour operators on the island who plan excursions on and around Samos, including boat trips to Turkey and surrounding islands.

Eating Out Eating out in Samos is a popular pastime and a laid back and relaxed affair. There are a range of both international and native Greek restaurants on the island, many of which are located in the capital, Vathy (Samos Town).
Greek cuisine relies upon simple seasonings and fresh ingredients, often locally caught fish such
as octopus, red mullet and lobster.

Greece is the 3rd most popular tourist destination amongst British holiday makers. In 2007, 17.5 million tourists visited Greece (2.6 million tourists were British) this figure is increasing year on year and set to reach 20 million by 2010.

Being only 3.5 hours flight time from the UK, Greece is sure to remain a popular choice now long haul destinations are becoming more and more expensive to access. Greece sits in the top 15 most popular tourist destinations in the world today.

There has been significant regeneration investment carried out by the Government for the 2004 Olympics, and this boosted tourism figures, but further to this the Greek government currently has an initiative to increase tourism by over 50% by 2013. The Government are investing £650 million to increase tourist numbers focusing on 4 and 5 star accommodations. They are doing this by easing planning laws and making ownership easier for foreign buyers. The tax system has also been simplified with fewer taxes for investors.

In the past, developers could only build on 2-5% of a plot of land - Under the new initiative they can now build on 20% of the space (it's up to 80% in Spain!) as long as it is based around a hotel of 4-5 stars.

The EU will also providing developers of 4 and 5 star tourist projects subsidy money towards the build costs up to 46%!

Savills have stated that Greece saw capital growth at a rate of 15% in 2006. The findings confirm established trends which propose that the majority are minor or first-time investors who missed the boat with Spain. The good news is that Greece has stringent planning controls preventing overdevelopment on the coast which has already been witnessed along the coast of other European countries. The safest bet would be to invest on the islands which have very limited coastline and will guarantee prevention against hotel saturation for better occupancy rates and exit strategy.

Unlike many emerging markets on offer, Greece not only has an established tourist market but there is also an established property re-sales market - the Greeks have been buying and selling property here for years - 80% of properties sold in 2008 were re-sales, increasing property values by 20%

Why Samos?

Samos is the 8th largest Greek Isle and the landscape is breathtaking with two mountains, Kerkis standing at 1443 meters (higher than Ben Nevis) and Ambrelos measuring 1160 meters. This creates a stunning backdrop for the coastline and also creates the opportunity for outdoor pursuits such as rock climbing, walking and mountain biking.

There is plenty to do on the island - Samos had the largest ancient temple in Greece, The Temple of Hera. Samos has 2 cities which make way for plenty of shops, restaurants and waterfront bars with pretty fishing villages leading to cobbled backstreets. Food is a social event where meals can sometimes last 6 hours.

Access to Samos is excellent, with Direct flights from the UK in peak season and connecting flights from Athens. Samos also has 2 ferry terminals. It's worth bearing in mind that only 11% of tourism is currently made up from us Brits with a staggering 40% of Samos tourism being from the Greeks themselves. Other key markets include Scandinavia, Germany, The Netherlands and Austria – all have direct access to Samos.

There is currently only one 5* hotel on the island, The Doryssa Bay, leaving visitors no other choice in luxury accommodation. The 5 star hotel runs at an occupancy rate of 83% (an independent hotel and therefore currently only open 214 days per year) so this proves there is high demand. This is one of the reasons the EU are providing the maximum subsidy towards the build cost here – 46%!!

The good news is that Halcyon Hills has seen high demand from Greek buyers based in Athens. This shows that there is a strong local market which is a good sign that the islands property market isn't an artificial bubble inflated by foreign investors.

The Resort...

Halcyon Hills is a 5 star hotel resort being developed on the south east coast of Samos. The resort will be finished to an exceptional standard (we need to deliver on this promise to gain the maximum subsidy allowance)

The resort is frontline, on 120,000sq meters of land with an incline of 50m from the beach to the top of the resort where the main facilities are located which will all benefit from the superb views.

The resort is made up of only 232 units in total, properties range from studios at £120,000, ranging up to €265,000. There are no blocks of apartments planned on this resort, just small clusters of properties grouped together to give a more exclusive' village hub' feel. No two properties will be the same; each property will look different and be a differing size. All will benefit from a sea view which will reach over towards the coast of Turkey.

The resort is centred on the world class spa and the 36 birth marina, large enough to accommodate super yachts. The spa is designed by Blue Spa and will be managed by them on-going. The spa's 'piece de la resistance' is the infinity pool with amazing views. Signature treatments will be on offer in the 7 indoor/outdoor treatment rooms offering unrivalled views.

The resort will be managed by a leading hotel group (to be announced)

The offer

Halcyon Hills is quite a unique concept on the property market. There are many residential complexes sold 'off plan' around the world today, however this concept is different - we are building a world class hotel which will be managed by a leading hotel operator.

We are currently at the off plan stages of the hotel development (completion due for end of 2013) This enables one the opportunity to invest in a property in the resort at 40% below market value and way below our competitors property prices. As the build progresses, there will be set price increases, thus rewarding early investors. With this being a hotel you will not only benefit from the growth in the property's value, but will also will profit from the returns of the revenue generated by the hotel on completion....

The norm with overseas property these days is for owners is to rent out their property themselves or instruct a rental company to take care of the rental and cleaning. With Halcyon Hills, the Hotel operator will do this all on your behalf and being 'brand hotel' your property will appear in many advertising formats at the hotels expense.

Unlike stand alone property or residential complexes, the returns for investors in a hotel project such as this will be greater, as hotel room rates (especially 5 star rating hotels) are substantially more expensive than renting a self catering property. This is due to the services offered within the resort such as the concierge, maid service, restaurants, spa, marina and numerous on site facilities. Even the hotel brand name behind the resort will add value to the property and potential yields.

The hotel operator has a vested interest in your property as they will profit out of the running of the resort -the higher the occupancy rate, the higher their profit is....and yours! Barrasford and Bird will also be involved in the running of the resort. We will profit from revenue of most of the on-site facilities we have constructed, therefore we will have an on-going interest in the success of the resort too. We are unlike other developers, where ultimately selling their properties is their 'end goal' we are benefiting from the project long term - we are not 'walking away' from the project after completion.

For investors wishing to enter the rental pool, we guarantee an 8% rental yield for the first 2 years from completion and offer a 50% split with the hotel operator thereafter (Predicted yield to be 10-12%) This will still provide investors the advantage of enjoying their property for 4 weeks each year – one week peak season and one week off peak. You have the option to opt out of the rental pool and enjoy your property for 365 days a year if you wish.

Finance

We offer a unique finance package giving you the opportunity to invest now and pay nothing out of your household cash flow until completion. In some instances you will earn money from the day you pay your deposit to us!! This is due to offering a 5% cash-back (paid monthly) on your deposit payments and we offer a guaranteed mortgage on completion. Shrewd investors have always preferred to use other people's money as 'gearing' against an investment and our cash back offer provides a way to do this, which will increase your potential profits and do so in a stress free environment.

FINANCE OPTION FOR FULL PURCHASE -One Bedroom Kampana example:

To purchase a One Bedroom Kampana is £279,000 and the 30% deposit is £83,700

As you hand over your deposit, we offer to pay interest on cash or borrowing of 5% per annum up until the resort is completed, or for 3 years (Whichever happens sooner) We will pay 3 months interest instalments up front and then monthly thereafter.

These instalments do not have to be re paid to us on completion, or ever for that matter!

If you obtain borrowing for the 30% deposit on an interest only basis, we will cover the interest payments up to a maximum of 5% and therefore your loan should not affect your cash flow whilst it is being built.

This makes purchasing a property in Halcyon Hills not only affordable, but a great way to profit from the property's capital growth without 'forking out' for interest repayments from your household income or without missing out on your savings interest earnings - In fact, in most cases we will pay you more than the bank's savings interest rate anyway!!

For example - The interest payments of 5% on the loan would come to approx £349 per month. Paid: 3 months in advance into your bank account and monthly thereafter

Please note: This is NOT accrued or repaid to us on completion.

If you are worried about paying your mortgage after completion, we are also guaranteeing you 8% of the purchase price for a period of 2 years from when the resort opens. This is a staggering £22,320 per annum on a one bedroom Kampana and a total of £44,600 for the 2 year period.

You therefore have up to 5 years guaranteed income on your property from the moment the deposit is paid

ON COMPLETION

Once the property is built you would then look at applying for a Greek mortgage to pay your 70% completion payment. There are currently 70% LTV mortgages available, and based on that product, would allow you a mortgage of up to £313,148 using the equity now available in that property.

There is also a back up developer mortgage for the outstanding balance in place should you for any reason you do not qualify for the Greek mortgage, this provides total peace of mind.

Once the resort is complete the 8% rental guarantee will begin. Below is a summary on how this yield is predicted to cover the mortgage, furniture cost, completion costs and maintenance payments