Fractional Summit tells the world “it’s not timeshare”

FIRSTLIGHT THE K CLUB, which sells shared ownership homes at Ireland’s number one golf and spa resort, took centre stage at Fractional Summit last week – Europe’s largest fractional real estate conference.

The event was launched to dispel the myth that fractional ownership is “timeshare” and instead allowed the trade and potential buyers more chance to learn about co-owning or selling fractional share property.

Catherine Monaghan, marketing dircetor at Firstlight The K Club, also offered an insight into life at this private residence club in the grounds of the historic country retreat.

She said: “Designed as an alternative to second-home ownership, Firstlight The K Club provides owners with their choice of a two or three-bedroom contemporary-styled apartment, or a three or four-bedroom luxurious detached house. These can be used at the owner’s convenience – and at a fraction of the cost of traditional whole ownership.

“The K Club is the perfect lifestyle choice for owners and their families who’ll get to enjoy a 550-acre ancient estate, as well as The K Club hotel’s five star amenities. Residents can also swop a week for an exchange holiday in one of 40 destinations around the world.”

Find out why Firstlight The K Club is one of the most respected and safe shared ownership properties on the market.

Shared ownership at the 2006 Ryder Cup venue, she explained, meant owning a one-eighth interest in property with full title, along with family residential membership for parents and kids under 18.

More British and Irish families are now looking for luxury holiday residences closer to home and the famous golf and spa retreat in Kildare – just 30 minutes from Dublin airport – is the perfect setting.

Estate agents who want to include Firstlight The K Club in their property sales portfolios were keen to learn the form of ownership which buyers enter into – this can be a trust, a company or deeded title – and what the differences are with timeshare products.

Unlike timeshare, where you are buying fixed-time usage of a property for a set period of time (typically 20 or 50 years), shared ownership at The K Club provides owners with a fully-titled interest in their chosen property.

“Buying a deeded title means you have the greatest degree of flexibility – you can resell your interest in the property, put that property into trust for your children for example, or will the property to others,” said Monaghan.

A flexible usage system means that owners can avail of their home for six weeks a year at their preference or can holiday fractional style by swapping one of your chosen weeks for a week’s holiday in one of the international exchange resorts worldwide. Prices of one-eighth shared interests here start from just €160,000.

Firstlight The K Club: +353 1 610 7111

The K Club provides the perfect corporate venue to entertain your clients

• Designer apartments and homes at Firstlight The K Club offer luxurious interiors with views over the Smurfit course, state-of-the-art facilities and en suite rooms.
• The K Club gives clients the opportunity to play on the most famous Arnold Palmer course in the world, and where Europe romped to Ryder Cup victory
• Enjoy some of the best fine wine and dining that Ireland has to offer
• Be in close proximity to major sports venues at the new Aviva Lansdowne Road stadium and Croke Park

• Take a corporate day at the races at nearby Punchestown and Leopardstown
• Try horse-riding, fishing and clay-pigeon shooting for team-building activities
• Work out with a rigorous gym session or energetic swim
• Or simply relax with an award-winning K Spa treatment.

Book a Discovery Trip to Firstlight The K Club

Discovery Trips involve one or two-night visits where you can “try before you buy” in luxury accommodation at the Ladycastle Estate.

• Experience what five-star living you could enjoy as a resident of Ireland’s number one golf and spa resort
• Free golf clinic with The K Club’s head resort golf pro Michael Dixon
• Or enjoy a free award-winning mini-facial.

Call +353 1 610 7111 or email info@firstlightkclub.com for pricing and details of Discovery Trips to Firstlight The K Club.

The Michelin Guide to Dublin's Restaurants

There is a real sense of life and genuine zest to Dublin. We may be regarded as Europe's leading cosmopolitan city but the most striking and endearing qualities of the Irish still remain. After visiting Ireland you'll know what I'm talking about. The French call it the "joie de vivre", for us it's the "craic", either way the Irish know how to enjoy themselves and not take life too seriously.

What is immediately apparent is there's no shortage of fantastic pubs, clubs, cafés and restaurants oozing out of every street. The good news is you'll be spoilt for choice, the tricky part is finding the right one.We may not be as big as other European cities but we do boast a bursting bunch of brilliant restaurants.

Restaurant Patrick Guilbaud

Patrick Guilbaud created his restaurant in 1981 – 28 years ago – Restaurant Patrick Guilbaud is Ireland’s top restaurant, holder of two Michelin stars as well as virtually all the top national and international awards. It is situated in an 18th century Georgian Townhouse adjoining the Merrion Hotel. It houses an impressive collection of Irish Art.

This bright, elegant restaurant, run by Stephane Robin, serves modern classic cuisine using the best Irish produce in season. The restaurant has played host to many famous guests over the past 28 years.
Chef Guillaume Lebrun’s signature dishes include the Lobster Ravioli, Roast Challans Duck for two, Assiette Gourmande au Chocolat.
Everything is made on the premises from the wonderful selection of breads to the petit fours. The wine list is very impressive in both its depth and its range – do take time to peruse it.

The table d’hôte lunch menu at €38 is very popular with both the business community and tourists alike and is described as one of Dublin’s best kept secrets! Booking essential! As well as the à la carte, you might also like to sample our Tasting Menu which allows you to try our version of typical Irish dishes.

Chapter One

Chapter One Restaurant is located in Dublin city centre on the north side of Parnell Square. As a former home of John Jameson, it retains authentic granite walls and sash windows and has been carefully and stylishly renovated to create a wonderfully sumptuous and comfortable restaurant.

It is one of Dublin's leading restaurants having won numerous awards for both food and service. The front of house team are warm and friendly while retaining a high level of efficiency and professionalism.

The food at Chapter One is a delicate blend of old style with innovative twists, one of these being our now legendary Charcuterie Trolley using some of the finest artisan cured meats and produce Ireland has to offer. The emphasis is on organic and seasonal ingredients to produce the best possible dining experience for the customer.

It is Dublin's premier pre-theatre dining venue. Ross Lewis and Martin Corbett, Chapter One's co-proprietors, have continued to strive for excellence and this effort is manifest throughout the restaurant.

A rare treat awaits you.

L'Ecrivain

L'Ecrivain Restaurant, 109a Lower Baggot Street, Dublin 2, in the heart of Georgian Dublin. This modern, contemporary restaurant is run by Chef, Derry Clarke and his wife, Sallyanne, has been established since July 1989.

Room top terrace for al fresco dining. Piano Bar and Malt Room available for private parties.

This award-winning restaurant has built itself a reputation for innovative cooking Irish/French style using the very best of Irish produce from small indigenous producers all in season. It is also well known for its fish, which is caught all over Ireland on the same day as used. Derry Clarke is renowned for his culinary expertise, and together with his team of chefs, Sallyanne and the front of house team, L'Ecrivain is an experience not to be missed.

Thornton's

Set on the leafy St Stephen’s Green, on the first floor of the Fitzwilliam Hotel, the elegant and relaxed Thornton’s Restaurant provides a break from Dublin’s pounding pavements. Refurbished in 2007, the dining room is a romantic space with a classic feel created by plushly carpeted floors, marble wall panels and touchy-feely velvet seating, leading in from a coolly contemporary cocktail bar. A delicious French inspired menu presents a range of delicate dishes, so beautifully presented as to make them almost too hard to attack with your fork. Meanwhile a canapé bar, complete with low slung sofas for relaxing in to, offers a less formal experience.

Miniature creations - perhaps foie gras rolled in toasted almonds or goose with aubergine chips - can be individually ordered (€3.50 each) to accompany some exceptional wines by the glass, such as the celebrated dessert wine, Chateau d'Yquem (€40 per glass). For those who have come to dine, however, the understated linen-clad tables leave you in no doubt that the food is to be the star here. Given that Kevin Thornton is one of the most talented chefs in the country, lunch, with two courses costing just €45, represents outstanding value.

Bon Appetit

The latest out-of-towner to be awarded a Michelin star, Bon Appetit is luring Dublin's gourmets away from the city centre with the promise of culinary fireworks from young Irish chef Oliver Dunne. And dishes such as boudin of duck and foie gras with celeriac purée and fresh peas or fillet of John Dory with new season asparagus, pine nuts and salted grapes have been ensuring that they do not leave disappointed. Café Bon, the high-quality bistro operation in the basement of the beautiful Georgian building (the restaurant is on the first floor) is a good bet for those who want to see what all the fuss is about without having to shell out haute cuisine prices. Here, you can expect more low-key offerings, such as grilled fillet of Irish beef with cherry tomatoes, 'Café Bon chips' and béarnaise sauce (fancy steak and chips, in other words).

Bon Appetit confuses people. Some folk can’t understand why a chef of Oliver Dunne’s skill and reputation should work out in seasidey Malahide, and it doesn’t occur to them that he is a Northsider, who wanted to have a top-notch restaurant in a part of Dublin that has suffered from indifferent culinary standards. Others miss the point of his food, which is serious, deeply understood and beautifully executed, yet you can read reviews that suggest he should be cooking something different. So, for the record, it is necessary to state that Mr Dunne is one of the best cooks of his generation, and that the symphonic sweep of his dishes is a total thrill, with flavours, textures and colours all summoned with apainterly, pointillist perfection. His cuisine takes many elements of the modern style – taste essays in lamb, or quail, rare-breed pork, polenta, or chocolate, or prawns – but at heart he is a straight-ahead cook, and he respects his ingredients well enough to leave them alone, so flavours simply sing thanks to an amazing level of confidence. Value for money, by the way, is superb.

Dublin in top 10 cities to do business by private jet

Dublin is now in the top 10 list of most popular cities for business people to visit by private jet – and it’s now the easiest country in which to pay business taxes.

The findings by PricewaterhouseCoopers for the World Bank says it takes firms just 76 hours to comply with Ireland’s easy tax rules.

The government’s commitment to business is being further enhanced with its fast-track legislation allowing foreign investment funds to re-establish themselves as Irish registered companies. This comes at a time when finance minister Brian Lenihan says he’ll keep corporate tax at 12.5%.

Ireland’s low business taxes have already attracted Google and Dell to Ireland – the World Bank has now rated Ireland sixth out of 183 countries for overall taxes.

Business carrier Air Partner also says Dublin is in its top 10 list because large corporations are using its pay-as-you-go Jet Card to fly cheaper and quicker to Ireland’s capital city.

More corporates buying a residence in Dublin

Shared ownership specialist Firstlight The K Club says these staggering findings are prompting more businesses to come to Ireland looking for a company residence and to benefit from the country’s tax advantages. The K Club was voted Ireland’s number one golf and spa resort in 2009 and lies just 30 minutes from Dublin airport in the heart of a 550-acre country estate.

For corporations looking for a permanent base to house key staff and/or look after their best international customers , shared ownership homes at The K Club are also within easy access of the city’s newest conference venue, The Convention Centre Dublin [opening September 2010].

And for businesses who work hard, play hard and love sport, The K Club is close to Dublin’s famous nightlife scene and the new Lansdowne Road stadium, which will kick-off with its first rugby match on August 7, 2010 [Leinster v Ulster and Munster v Connacht].

Owners at Firstlight The K Club will also benefit from an international exchange programme where owners can exchange their guaranteed week(s) with over 40 premiere resorts across the world. This includes South Africa, making it a perfect corporate getaway to the World Cup in June and July.

Catherine Monaghan, marketing director for Firstlight The K Club, says having a residence at The K Club will appeal to businesses who entertain a lot and will offer golf membership to directors and their families, plus preferential green fees for your clients.

“Companies with a one-eighth interest in shared ownership property at the K Club now have an undivided title deed on the property. As such, shared ownership gives you an asset which can sit on your balance sheet. Annual service charges can be written down against tax.”

She adds: “This would apply to UK and Irish firms – we encourage clients to use independent tax specialists to get the most out of Ireland’s low tax rates. Shared owners at Firstlight The K Club will also enjoy spacious bedrooms with en-suite shower rooms and multiple reception rooms are a theme throughout the properties.”

Firstlight The K Club speaks at Fractional Life

More insights into shared ownership at Firstlight The K Club will be heard at Fractional Summit 2010, Europe’s largest fractional real estate conference.

Firstlight The K Club offers one-eighth titled interests in state-of-the-art homes and apartments at the home of the 2006 Ryder Cup – The K Club. The country resort has won 14 consecutive years of awards and is tipped as one of Europe’s safest places to buy a shared ownership residence in 2010.

Corporate? Visit Fractional Summit at the London Marriott, Grosvenor Square [Feb 18-19] to learn more about a company residence at Firstlight The K Club.

Book an appointment with Catherine Monaghan on Thursday 18^th or Friday 19^th February at Fractional Summit, or for more information please email: c.monaghan@firstlightkclub.com

Firstlight The K Club: +353 1 610 7111

www.firstlightkclub.com

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British and Irish second homeowners look for shared ownership properties closer to home

Rising airfares, currency fluctuations and Europe’s warming climate are enticing families to shun mid and long-haul locations for holiday homes in the UK and Ireland. And more British and Irish buyers are looking for shared ownership property, according to a report by Fractional Life.

Rather than villas, which they might only use four weeks of the year, parents are saving money by taking the kids to a residence they share with other families a short drive or flight away.

More insights into shared ownership property will be discussed by Firstlight The K Club at Fractional Summit 2010, Europe’s largest fractional real estate conference.

Firstlight The K Club offers one-eighth titled interests in family homes and apartments at Ireland’s number one golf resort in Co. Kildare. We will be meeting potential second homeowners to talk about why our magnificent country retreat has won 14 consecutive years of awards – and why Firstlight The K Club is tipped as one of Europe’s safest places to buy in 2010.

Fractional Summit takes place at the London Marriott Grosvenor Square on February 18-19. To book an informal chat with Catherine Monaghan, marketing director at Firstlight The K Club, email c.monaghan@firstlightkclub.com Or come and be part of the debate as Catherine will be part of a panel discussion at 10.15am on Feb 19.

Your questions answered

Firstlight The K Club this week answers more of your questions about this outstanding shared ownership destination, also the home of the 2006 Ryder Cup.

Q. What does it mean to be a shared owner at Firstlight The K Club?

Catherine Monaghan: Shared ownership has never been offered at the K Club until now. It offers an exciting lifestyle opportunity where owners experience unrivalled levels of luxury and service in Ireland’s leading golf and spa resort.

The shared ownership scheme allows more people to buy at this stunning resort at a fraction of the full property price, yet with all the benefits of your own luxury home, plus full family membership of The K Club with all it has to offer.

Owners have an undivided title deed, allowing resale – inclusive of all the benefits – to a wide audience.

Q. Do you think consumer knowledge about shared ownership is increasing?

I think consumer knowledge is increasing in Europe but that in Ireland and the UK it still has a long way to go. There is a common misconception that shared ownership is timeshare which it is not as it is title-based ownership and therefore possible to resell, will, or bequeath.

Groups such as FractionalLife.com are definitely raising awareness with their annual Fractional Summit taking place in February each year – this is a great forum for consumers and industry experts to get together and share ideas in an open forum.

They also host a Fractional Expo yearly in London which is helping consumer knowledge grow. We need more property journalists to embrace the idea and educate consumers on the differences with timeshare, the different types of ownership (and merits of each) eg. title-based versus company shares; and the rationale in a changed economy, for this type of lifestyle purchase.

Q. Can you offer finance to buy a titled interest at Firstlight The K Club?

We are working with a number of lending institutions to develop a finance opportunity and hope to have more news on this topic in the near future.

Q. What sort of buyer will Firstlight The K Club suit most?

Because of the variety of property types and styles on offer, it is difficult to classify a typical buyer.
The properties range in size from two-bedroom [1,215 sqft] apartments to four-bedroom frontline golf [3,800 sqft] detached houses. The sizes and variety make them ideal for one or two occupants as well as families.

Investor or property agent? Come along to Fractional Summit on Feb 19^th at 10.15am to hear Catherine Monaghan, marketing director at Firstlight The K Club.

One-to-one chat with Catherine? Book an appointment on Thursday 18^th & Friday 19^th February or email your question to: c.monaghan@firstlightkclub.com

Firstlight The K Club: +353 1 610 7111

Chat to Firstlight The K Club at Fractional Summit 2010

Firstlight The K Club – Ireland’s shared ownership specialist – will be a panel guest at Fractional Summit 2010 – and is inviting potential property buyers to come and have a chat with us during the event!


Fractional Summit, Europe’s largest fractional real estate conference, will be held at The London Marriott Grosvenor Square on Feb 18-19 and you can book some time to discuss the benefits of Firstlight The K Club with the project’s marketing director, Catherine Monaghan.

Investment-savvy buyers are already sending in their questions to Firstlight The K Club so we thought we’d share some of Catherine’s answers with you:

Q. Why is fractional or shared ownership the ideal property investment for me in 2010?

Catherine Monaghan: Shared ownership revolved around the concept of owning title-based ownership of a property. At Firstlight The K Club, residents are offered so much more:

* You can align the capital you’ve invested with the use of the home. In other words, why buy a home for 52 weeks if you only intend use it for four?
* Access and own properties at prices that may not normally be available to you
* Preserve the value of your capital in the property title
* Because of the lower entry price of shared ownership you can hold a real estate product that is more liquid than the equivalent whole property
* Shared ownership at Firstlight The K Club gives you all the benefits of your own luxury home, plus full family membership of The K Club with all the resort has to offer.
* Owners have an undivided title deed allowing resale to a wide audience – and inclusive of all the benefits.
* Exchange weeks at the K Club to travel and stay at over 45 hand-picked premier resorts around the world, including Fancourt in South Africa and Four Seasons Residence Club in Phoenix, Arizona.


Q. Are the properties built?

CM: Shared ownership has never been offered at the K Club until now and the spacious, extremely well-furnished properties at Firstlight The K Club are ready to move into.

The properties range in size from two-bedroom [1,215sqft] apartments to four-bedroom frontline golf [3,800sqft] detached houses. The sizes and variety make them ideal for one or two occupants as well as families.

Q. What can I expect from life at the K Club?

CM: The K Club offers an exciting lifestyle opportunity where owners experience unrivalled levels of luxury and service in Ireland’s leading golf and spa resort.

* Firstlight The K Club offers full family private residence club membership, so a husband, wife and their children (up to 18 years) are residential members of the K Club. This entitles them to full use of the two championship golf courses, the excellent K Spa with its 8 treatment rooms, 15m indoor heated swimming pool, gym, sauna, steam-room and Jacuzzis.
* As a country club, the K Club focuses strongly on outdoor pursuits and owners can enjoy activities such as lake and river fishing (fly and course), clay target-shooting, archery, falconry, and horse riding.


As parents ourselves, we know the importance of children in our lives – if they are happy we’re happy – and with this in mind the resort offers a safe environment for children to play and a real welcome at every turn. An entertaining kids’ club is available all year-round as well as indoor and outdoor play areas, and junior swimming and golf lessons.

Q. Can you offer finance to buy a titled interest at Firstlight The K Club?

CM: Finance would normally be secured by way of equity release against another asset held. Currently there are no non-recourse lending options to buy a titled interest at Firstlight The K Club. However, we are working with a number of lending institutions to develop a finance opportunity and hope to have more news on this topic in the near future!

Q. Why do Firstlight The K Club apartments and homes appeal to businesses?

CM: Corporate ownership is definitely an option as the properties lend themselves extremely well to entertaining, while membership to golf for directors (or their family), plus preferential green fees for your clients are a big benefit of purchase.

* Each spacious bedroom comes with its own en-suite shower room and multiple reception rooms are a theme throughout the properties.
* Companies purchasing a one-eighth interest in shared ownership property at the K Club now have an undivided title deed on the property.
* As such shared ownership gives you an asset which can sit on your balance sheet.
* Annual service charges can be written down against tax. This would apply to UK and Irish firms, however, anyone considering a purchase should seek independent taxation advice.


Interested investor or property agent? Come along to Fractional Summit on Feb 19th at 10.15am to hear Catherine Monaghan, marketing director at Firstlight The K Club.

Book your one-to-one chat with Catherine. Appointments on Thursday or Friday, 18th & 19th February. Email to guarantee your slot: c.monaghan@firstlightkclub.com or send a question to Catherine Monaghan to discuss further.

Firstlight The K Club: +353 1 610 7111

www.firstlightkclub.com