Turner Heights Townhouses Fractional Ownership
Remember the three golden rules when purchasing real estate LOCATION LOCATION LOCATION!
About fractional ownership
Owning a holiday home that family can use is high on many people’s wish list, however affordable opportunities close to the centre of Queenstown are becoming increasingly scarce.
Turner Heights was the first property in New Zealand to formalize fractional ownership with the introduction of Quatershares.
Formal fractional ownership is now being offered around the world in all forms from property to boats to high end vehicles. The opportunity to purchase a Quartershare of an attractively furnished and well located apartment is targeted to fill the gap in the market between whole ownership and time-sharing.
Turner Heights has been successfully offering the opportunity for people to own a central Queenstown property for over 25 years. Rental income generated annually generally provides for the cost of running the complex and the replacements program.
Ownership satisfaction has been extremely high over the years with capital gains ranging from 10% to 100% depending on purchase price and the length of time owned.
Management of Turner Heights Townhouses
Management is controlled by the Owners Management Committee, who in turn have contracted professional managers to run the day to day activities of the property. A primary goal for the management team is to earn sufficient income to cover all costs for the complex including rates, insurance, telephone, housekeeping, marketing, accounting and on-site management.
In January 2009 the management committee introduced a small nightly levy on all owners using nights so that a significant replacement fund would be available for in the future. As at 31 December 2020 this levy is $50 per night used.
You will need to contact the apartment owner or real estate agent directly of the apartment that is listed for sale for detailed information.
- The property consists of nine two bedroom apartments and three one bedroom apartments