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Feature Second To None

Much like a long-distance relationship, the booking of a holiday or securing of a second home is often a giddy, intoxicating experience that all-too-soon turns bitter-sweet. Now Pam Golding Fractional Ownership ensures that the experience is never less than wonderfully gratifying.

The company’s Fractional Ownership division promotes the joint ownership of luxury properties worldwide.The division was created in response to the rapidly increasing demand for leisure-lifestyle investment that’s accessible to all sections of the market.

Under directorship of MD Thys Geyser (one of the founders of Imperial Bank), the company was formed through a merger between Pam Golding Properties (whose Vacation in Property division was responsible for such successes as the Pezula PRC, the first Private Residence Club in South Africa, which sold 70 fractional options in just five weeks) and Staytus Luxury Lifestyle Collection, a niche developer and promoter of fractional ownership lifestyle products.

The resulting company, Pam Golding Fractional Ownership, offers a comprehensive product spectrum made up of a number of subsections – ranging from ‘classic’ fractional property through to ‘high-end’ fractional residence and Private Residence or ‘destination’ clubs. These products all have broad appeal and immeasurable potential, but differ in the level of owner participation in the management of the property, the level of hospitality service provided, and the intrinsic property value underpinning the product.

Management tools are in place to ensure that owners get the usage allocation best suited to their needs; the purchase price is a one-off cost, with the gain of a fraction or share of the property each year in perpetuity.

47 Park Street is an example of the Private Residence Club selection. This magnificent Edwardian property is set in the very heart of London’s exclusive Mayfair, occupying some of the city’s most covetable real estate. Following a multi-million pound refurbishment, the establishment can now accommodate both members and guests.

This pedigreed property – it was initially built in 1926 as a private residence for the first Baron Illford – couldn’t be more superbly positioned to deliver the quintessential A-list lifestyle: think easy access to stylish Bond Street boutiques, the tranquillity of Hyde Park, and the city’s effervescent theatre district.

The residence is ideally suited to those who regularly visit London on business or pleasure but find themselves disenchanted with notoriously overpriced, matchbox-like accommodation offerings.  This is not to say it’s inexpensive – you’ll need the rands to enjoy the rewards – but it’s also not in the tycoon-owned bracket.

Surprisingly, 47 Park Street is currently the only fractional-ownership property in London, making it a tradition-based establishment with a particularly progressive approach. In this instance, the unique brand of fractional and private ownership allows you a share of a residence to be used at your convenience, while providing all the amenities and luxury service of a five-star destination.

Membership gives you the right to use your residence for your selected number of nights each year until 2050. Available in increments of 21 nights, time periods are flexible: you can stay for a night, two nights, a week or longer.

Importantly, 47 Park Street is a part of the Marriot Grand Residence Club, which allows owners to exchange residence time with affiliated Marriott and selected Ritz-Carlton properties worldwide. This is one of the greatest advantages of ownership – Marriot’s associated benefits and rewards are legendary and include perks such as sought-after gym and spa memberships.

Impeccably appointed, 47 Park offers 49 luxurious and generously proportioned residences. The establishment evokes the honey-toned romance of a bygone era, combined with the ease and convenience of modern-day amenities. In terms of décor, there’s a distinct lack of hotel-like drama; in fact, residences feel like private homes. Interiors exude a delightful sense of sophistication and mellow charm.

All individually designed, the residences offer a combination of neoclassical and Regency styles; each consists of surprisingly spacious and inviting spaces where you can happily cosset yourself, a world away from the hurly-burly of nearby Oxford Street.

Each residence also comprises a separate living room with dining area, an entertainment system, a kitchen equipped with granite worktops, microwave oven, deluxe stove, refrigerator and dishwasher.

A 24-hour concierge is on hand to oblige your every whim; there are also valet services, a twice-daily maid service, an in-house florist and a personal shopping service, amongst others. What’s more, Michel Roux’s renowned Michelin-starred Le Gavroche restaurant has been wowing diners for over 40 years (no wonder the residence has been referred to as a ‘restaurant with rooms’ ), and it’s the perfect extravagance for that special occasion or if you simply feel like spoiling yourself.

In these time-pressed days, it’s all about instant gratification; Joop Demes, MD of Golding Hotel Investment Consultants, explains: ‘People want their enjoyment now and not to have to work a lifetime to purchase a second home and then realise it doesn’t make financial sense.’

The privilege of owning property in Mayfair can now be yours, along with previously unimagined associated benefits, personal flexibility and ease. It’s a decidedly tempting option: true, personalised luxury for the rest of your life – bring on that magnum of Grande Dame, Jeeves!

For more information, please contact Pam Golding Fractional Ownership on l +27 21 912 1542 l visit www.47parkstreet.com.