KEEPING THE DREAM ALIVE: QUEENSTOWN VISIONARIES BRING THE USD $1.5B+ GLOBAL LUXURY HOLIDAY HOME CO-OWNERSHIP WAVE DOWN UNDER
Move over Uber and Airbnb, the latest sharing economy to boom is the holiday home. It’s no wonder why… Who doesn’t want a multimillion-dollar, luxury holiday home for 1/8th the cost? Here’s how.
Queenstown, New Zealand - The appeal of owning a holiday home is undeniable. It's exciting to imagine having a special place where your family can create memories, form relationships, and establish a legacy and sense of belonging. However, the cost can be difficult to justify in today’s market, especially if the home is only used for a few weeks each year. As a result, a global trend is seeing financially astute and environmentally savvy families drastically reduce the cost, responsibility, and environmental footprint of second home ownership through co-ownership. In fact, co-ownership has become so popular that an American provider has recently received $1.5B valuation since its 2020 inception and more than 2 million USA holiday homes are co-owned. Now, Kiwi/Australian co-ownership experts John & Sharon Russell have launched Second Home to help Kiwi and Australian families safely and reliably establish affordable second home co-ownership for themselves for 1/8 the cost. John and Sharon Russell, co-ownership pioneers and visionaries, have launched their latest business venture, Second Home, offering affordable co-ownership opportunities of luxurious family holiday homes in some of the world’s most iconic destinations, beginning with the Queenstown Lakes District and Italy. With 24 years of experience in the industry, John and Sharon are dedicated to providing families with easy holiday home ownership through co-ownership as they have done for so many families since introducing syndicated boat ownership to the Australian and New Zealand market in 1999. Second Home's unique offering brings eight like-minded individuals together to own the title to their dream holiday home, enjoy it exclusively for six or more weeks each year and benefit from any market appreciation, whilst paying only a fraction of the cost. “We bring together eight like-minded families to co-own $2M+ holiday homes in the most spectacular locations, with each having exclusive use of their holiday home for six weeks every year, while realising any capital appreciation potential,” says founders and owners, John and Sharon Russell. Co-ownership significantly reduces the upfront and ongoing costs associated with owning a property and lets owners focus on holidays while Second Home focuses on making sure all the work associated with the property is taken care of. Every owner receives exclusive use of the property for six weeks every year, which is managed and calendared equitably by Second Home. Owners weeks are spread evenly throughout the year and can be swapped with co-owners via an online calendar. “We are excited to co-own a stunning property in Queenstown valued at approximately 8 times what I have invested, with like-minded families. Its affordable and flexible, allowing us to spend quality time together in one of the most beautiful parts of the world,” Peter Hamilton, Second Home Owner The homes are professionally managed, and owners benefit from shared costs. The home is owned and used by the eight owners and their designated guests only and never available for rental. A chosen interior designer tastefully furnishes the home in a modern and liveable style and includes everything you would expect in a luxury holiday home and more. Storage lockers are provided wherever possible. A personal concierge is on hand to ensure all is set up for your arrival. On departure, just lock up and leave and Second Home takes care of the rest. This convenient and cost-effective ownership experience is perfect for families or busy individuals and allows for making carefree and precious memories with loved ones. Owners enjoy equity ownership and share in any uplift in value of the property over time. They are also able to sell their share of the home should it ever be deemed necessary, and Second Home has a process in place to facilitate the sale or to assist an owner’s appointed realtor to do so. "We've had a few owners who have sold over the years, but the majority of our co-owners have been together for more than 10 years. It works so well that when we introduced our first Queenstown property, our existing co-owners snapped it up so quickly that we had to secure two more properties right away, Jack's Point, Silver Creek, and Wanaka" says Dunedin born John Russell. John left Dunedin in his 20’s and landed in Brisbane. “I have had a wonderful family and business life living and working in Brisbane however relocating back to Queenstown to launch Second Home feels like coming home and my wife Sharon and I are loving it.” In addition to helping families buy into a co-ownership share of their dream homes, Second Home also assists astute homeowners looking to take advantage of the co-ownership trend through their sellers’ program. This program helps existing homeowners release capital and reduce the expense and headache of managing a second home. This program offers existing homeowners in suitable locations, the option to sell down equity in their existing holiday homes, whilst still keeping their homes and holidays intact. The homes do need to meet Second Home’s quality and location standards, and once brought up to standard, co-ownership shares are offered for sale and the home is professionally marketed and managed. “In uncertain financial times we have historically seen tremendous interest in the co-ownership model for both boats and holiday properties. During 2007 to 2009 our business Riviera Syndication experienced an increase in sales due to owners still wanting the leisure experience, but also wanting to be cautious with their investments.” “We ourselves bought into a co-ownership villa in Italy in 2012 with a client/friend and this was taken up very enthusiastically. We still own our co-ownership in Mercatello, Italy and assist with the running of this property. It is one of the best lifestyle decisions we have ever made.” Co-ownership not only appeals financially, but also environmentally. Instead of holiday homes sitting empty for a large portion of the year, we are seeing families embrace co-ownership and reduce their carbon footprint, while also boosting the local economy with more frequent visitors. By bringing more revenue into local economies, this innovative approach benefits not only Second Home owners but also the communities in which they invest. “It’s the perfect way to holiday and invest in real estate at the same time,” says Russell. The company's co-ownership opportunities include three special properties in New Zealand – Queenstown Central, Jack’s Point in Queenstown, and Wanaka – and two in Italy – Mercatello sul Metauro and Venice, with the Gold Coast on the horizon. Known as the adventure capitals of the world, Queenstown, Jack’s Point and Wanaka are recognised on the world stage for their natural beauty and year-round activities ranging from wine tasting, farm to table dining and boutique shopping, to mountain sport activities such as hiking, biking, fishing, boating, skiing and golf. These special locations are reputed for being perfect places to unwind, relax and create lasting memories with loved ones. They are also regions in which confidence in the real estate market remains high. To celebrate the launch of Second Home, Jack’s Point has provided an incredible opportunity to introduce Second Home Co-Ownership to this exclusive development. On offer is a 3-bed, 3-bath professionally designed and luxuriously furnished Village Works Quarters apartment, currently under construction, for just $316,000 NZD for 1/8 ownership. It is a unique and limited opportunity and is only available until 20 June 2023. Co-owners who deposit 10% by the deadline will be rewarded with their first year’s annual costs (approx. $7,140) with compliments of Second Home. Two of eight co-owners have already purchased. Special Second Home Listings & Launch Incentives for a Limited Time Location: Jack’s Point, Queenstown Residence: A $2M+ 3-bed, 2-bath luxuriously appointed, fully furnished Village Works Quarters apartment residence, currently under construction. Price: $316K per 1/8 Ownership, incl. GST Bonus Offer: First year’s ownership costs with compliments for co-owners who deposit 10% by 20 June 2023, representing a value of more than $7,000.) Expires: EXPIRES 20 JUNE 2023, timely enquiries encouraged Ownership: 2 of 8 co-owners have already purchased Jack’s Point in Queenstown is well known to many as featuring one of the most spectacular golf courses in Australasia and now it is set to become a new hub of Queenstown with the development of a retail and dining precinct to complement its existing residential areas. The opportunity presented, until 20 June 2023 only, is for eight co-owners to own a new 3-bedroom luxurious apartment, currently under construction in the heart of the new precinct for only $316,000 for 1/8th ownership of the property. Each 1/8 owner has exclusive use of the property for six weeks every year. Location: Silver Creek, Queenstown Residence: A $2.8M+, 3-level, 3-ensuited bedroom luxurious home Price: $418,000 NZD per 1/8 Ownership, incl. GST Bonus offer: First year’s ownership costs with compliments for owners who deposit 10% by 30 September 2023, representing a value of more than $9,000. Expires: 30 September 2023 Silver Creek in Queenstown is an 85-acre development perched amongst a prestigious alpine mountain community with breath-taking lake and mountain views. Second Home has secured an opportunity to become a founding member of this community, which is poised to become a historic development in the region. A co-ownership opportunity to own a new three level, three-ensuited bedroom home, due for completion late 2024, with spectacular lake and mountain views, in the soon to be coveted community is just $418,000 per 1/8th ownership of the property, including exclusive use of the property for six weeks each year. Again, this offer is for a limited time, so swift enquiry is encouraged. Location: Wanaka Residence: A $2.6M 4-Level, 3-ensuited bedroom luxurious town home residence with rooftop terrace & lift due for completion mid 2024. Price: Approx. $395k per 1/8 Ownership, incl. GST Bonus offer: First year’s ownership costs with compliments for owners who deposit 10% by 30 September 2023, representing a value of nearly $8,000. Co-owning a holiday home in charming, historic Wanaka, New Zealand is an excellent way to experience the area's natural beauty and relaxed lifestyle while sharing the costs and responsibilities of owning a property with others. Second Home has secured a limited opportunity new build, 4 level, 3-ensuited bedroom luxury town home residence with wide lake and mountain views, a rooftop terrace, hot tub, bbq and private lift for approximately $395k per 1/8 ownership of the property. Again, this offer is for a limited time, and swift enquiries are encouraged. Location: Venice, Italy Residence: A newly renovated historic apartment Price: AUD $66k per 1/13 Ownership Venice, with its incredible history and culture, is truly one of the great cities of the world. What's more, it's also highly accessible, boasting Santa Lucia rail station on Venice Island and Marco Polo international airport. This makes it an ideal springboard to explore the rest of Europe. Once there, the city is small and walkable, making it easy to explore on foot. For those with a love for Italy, co-owning a newly renovated apartment located in the highly desirable precinct of Cannaregio in Venice with like-minded individuals is offered. Only a two co- ownership opportunities for this home remain available, each providing exclusive use of the property for 4 weeks a year for life in this historic city. Bonus: Ongoing costs are estimated to be in the range of just $1,500 to $1,750 Australian dollars per annum. Location: Mercatello, Italy: Residence: Italian Villa Price: AUD $40k per 1/13 Ownership Mercatello sul Metauro is a charming town in the Marche region of Italy, known for its rich history, picturesque landscapes, and warm Mediterranean climate. For a modest investment of only AUD $40,000 for 1/13th ownership of a traditional Italian villa in the beautiful little village of Mercatello Sul Metauro on the border of Tuscany and Marche, enjoy exclusive use for one month or four weeks annually, immersing co-owners in the traditional Italian lifestyle for life. Gold Coast, Australia: Main Beach luxury apartment – Approximately AUD $500k for 1/8 Ownership Australia's Gold Coast is reputed as one of the best and most popular holiday destinations in the world. It not only features long stretches of pristine white sand beaches, but also a multitude of tourist attractions to keep mum, dad and the kids fully entertained, as well as an amazing array of restaurants, cafés, night life. Second Home is currently taking expressions of interests for co-ownership of a beautifully furnished premium Main Beach apartment with unparalleled beach and Gold Coast views for approximately AUD $500,000 per 1/8 ownership, including exclusive use of the property for six weeks each year. "We get so much enjoyment from introducing families like ours to amazing holiday experiences through co-ownership. The joy we have witnessed through our luxury boat ownership business, Boatshare and Riviera Syndication, as well as our Italian Villa over the past 24 years, brings us so much happiness, and now we can bring that joy and happiness to so many more families with Second Home," John and Sharon Russell. To explore the opportunities of co-owning a holiday home with Second Home and create a lifetime of fun for family and friends, reach out to John and Sharon at:
About Second Home
Second Home was founded by John and Sharon Russell, pioneers and visionaries in the field of co-ownership and boutique lifestyle opportunities. They possess more than 24 years of experience in co-ownership, having founded and operated Boatshare Australia in 1999 and then Riviera Syndication luxury yacht co-ownership in Australia from 2007. Now based in Queenstown, they launched Second Home in February 2023 to fulfil their passion of making second home ownership a reality for more people through their holiday home co-ownership model. Second Home properties are co-owned by eight like-minded owners. Each owner owns their title to 1/8th of the property (1/13th in Italy by Unit Trust) and any potential capital gain. This form of ownership means that each owner owns a tangible, saleable real estate investment, as well as an amazing holiday home. Every owner receives exclusive use of the property for six weeks every year (one month or 4 weeks each year in Italy), which is managed and calendared equitably by Second Home. The homes are professionally designed, furnished and managed, and owners benefit from shared costs, which are never inflated. The home is owned and used by the eight owners and their designated guests only and never available for rental. The eight owners enjoy equity ownership for life, however, if there is ever a need for an owner to sell, Second Home has a process in place to facilitate the sale or to assist an owner’s own appointed realtor to do so. Second Home's co-ownership model also promotes more efficient use of resources and reduces the number of holiday homes sitting empty for a large portion of the year. By bringing more revenue into local economies, this innovative approach benefits not only Second Home owners but also the communities in which they invest. To learn more visit www.secondhome.co.nz