Fly Clubs & Organisations NZ ,Turangi Holiday Home Consortium

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    Anonymous
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    Hi
    I was wondering if there are many keen trout fishing club members who:
    (a) enjoy fishing in NZ, particularly the Turangi area; and
    (b) would be interested in forming a consortium, as tenants in common, to purchase land, in Turangi, and build a 3 brm, 2 bathrm fishing holiday home on a time share basis.
    The consortium could, for example, consist of three individuals to own one third each; or two or three fishing mates could form a group to own a one third share etc. Time allocation could be such that each one third owner(s) have a month in each season, on a rotation basis e.g.

    2018 Dec, March, June, Sep (owner 1) Jan, Apr, July, Oct (owner 2) Feb, May, Aug, Nov (owner 3)
    2019 Jan, Apr, July, Oct (owner 1) Feb, May, Aug, Nov (owner 2) Dec, March, June, Sep (owner 3)
    2020 Feb, May, Aug, Nov (owner 1) Dec, March, June, Sep (owner 2) Jan, Apr, July, Oct (owner 3)
    etc.
    This is just one of several time share methods.
    The holiday home could be constructed with features specific for fishing – e.g. safe area to hang /dry waders; back entrance with high ceiling to hang fly rods; lock up sheds for a boat/ gear. Simple parking to accommodate a boat etc.
    I have undertaken some preliminary research. Suitable blocks (approx.700 to 900 square metres) can be purchased for approx. $55,000 to $60,000 NZ.
    Building costs are slightly less than building costs in many Hobart suburbs. So, as a very approximate guide, a good quality 3 brm, 2 bathrm fishing holiday home , with regulation insulation and double glazing, could be acquired for about $120,000 NZ (including land ) per consortium member, for a one third share.
    This might seem like an odd proposition. However, I have met other people similar to myself – recently retired and fish, in the Turangi area, for about 12 to 14 weeks per year. The financial aspects become attractive taking into account:
    (a) The opportunity costs of the capital outlay (e.g. $120,000 *0.07 = $8,400 NZ) compared to the cost of paying for holiday accommodation (e.g. 12 weeks at $150 per night = 12*7*$150 =$12,600 NZ);
    (b) shared costs of rates, insurance etc.,
    (c) ability to rent when not using your time share allocation;
    (d) Modern, tidy , comfortable accommodation;
    (e) Certain availability of accommodation.

    Looking forward to discussing this proposal.

    Regards

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