BMI Magazine Issue 33

experience

knowledge

REAL ESTATE GIBRALTAR & SPAIN

PROPERTY LISTINGS | NEW DEVELOPMENTS | INFO ARTICLES | MORTGAGE RATES

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Architecture at i t ’s f ine s t

AKS

ARCHITECTS, ENGINEERS, PROJECT MANAGERS & QUANTITY SURVEYORS

t. +350 20073260 e. mail@aks.gi www.aks.gi

Mews

BUENA VISTA

last remaining town house

SOLD

SOLD SOLD

SOLD

Only one house

remaining

Price ÂŁ695,000 155sqm Internally 50sqm Terrace/Garden

experience

knowledge

BMI Group Limited, Unit 7 Portland House, Glacis Road, P.O. Box 469, Gibraltar

An exclusive development of five town houses situated in the upper hills of the South District.

This private location offers spectacular views from all the properties together with generous terraces and gardens. The location is orientated towards the Bay and Strait of Gibraltar and is surrounded by green areas making for an idyllic living experience.

Within the properties residents will enjoy hard wood flooring, modern high spec kitchens with high tech appliances, spacious living areas throughout as well as other features such as working fireplace, air-conditioning and separate utility room.

With only five residences, the private communal swimming pool is an added luxury.

a truly privileged location...

Tel: (+350) 200 51010

Email: info@bmigroup.gi

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We’ve gone for a Retro look for our cover on this issue, no particular reason other than we felt it would catch the eye. It’s important to us that we stand out on everything that we do ….. hopefully for the right reasons!

One might argue that there’s been an element of Retro to the recent shenanigans at the border over the past few months. Seems like a “throw back” to the days of old; one will (I’m sure) be forgiven for applying this perception to the recent antics of what is meant to be a modern democratic country considered the 4th largest economy in Europe. It seems however that the Spanish Govt is intent in playing its part in becoming the laughing stock of Europe, by ignoring the wishes of 30,000 people in expressing their right to determine their future. It seems that aggressively pursuing this, is far more important than addressing an economy falling to pieces, with an average unemployment rate of 30% and let’s not forget the matter of corruption scandals.

You might wonder why on earth I am referring to the above as opposed to discussing Property. Well, like it or not Gibraltar’s recent fame in the headlines across Europe is hardly something that we aspire to. It’s unfortunate that more often than not the international media will invariably get it wrong on so many levels and in doing so will not present the realities of Gibraltar. Even more unfortunate is the media campaign clearly driven by Madrid in which Gibraltar has been accused of pretty much everything under the sun in order to discredit our reputation and in an attempt to stall the very real gains that we have made in the past decade.

So, has all of this affected us? Well, from a real estate perspective the short answer is no, in fact some may argue that it has only encouraged people to stay firmly placed on the rock. Clearly elements of the commercial / retail sector have been hard hit, but my concern is the perception that companies and individuals (non-local) may have and how this concern may play out in their thinking and forecasts.

As a Gibraltarian, I have seen these situations played out on many occasions and therefore although hugely irritated by the impact of these tensions, I take the view that it’s just another tantrum from our neighbour which WILL simmer down.

But what of the many who aren’t versed in this political play? Well, my advice is Don’t Panic! You may prefer not to take advice from the estate agent on this one, after all, we do have that awful reputation of talking pretty much anything up…;)

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however, I would ask that you consider one thing….History! If our past is anything to go by, it will undoubtedly suggest that we come out of these episodes far better that we went in. You don’t need to go far back to revisit the failed joint sovereignty proposals in 2000 and the subsequent negotiation of the 2006 constitution which re-affirmed and advanced our position as a nation. Whereas I am not about to enter into a history lesson, my short message to those unaware or unsure of what we have witnessed over the past few months, is that you are in a safe, well regulated, vibrant and ambitious jurisdiction, with a strong economy; it will be all of these things that will continue to see us through the difficult times and lead us into continued success.

The Market.

As mentioned we have seen no negative impact on the market deriving from the current political tensions. The year so far has exceeded our expectations and as an update from our last Magazine issue we are delighted to confirm that all bar one of the properties at Buena Vista Park Villas has been sold. We are particularly pleased with the fact that BMI was involved in over 60% of agent sales. From our perspective this gives us a great deal of confidence in the growth of the High Value Market, and an element of satisfaction that BMI plays a significant role in this sector.

Market trends will always play a part in sales and although not significant in property on the Rock, there is no doubt that the summer months can be slower than other periods. In this respect, we are uncertain on whether the impact of the political tensions has played a part in a slight dip in the volume of sales between the £400,000 & £600,000 range. Our instinct leans more towards the fact that the first half of the year saw a 15%-25% increase in sale

prices and an even bigger increase in lettings – we believe that the market may well be adjusting upwards, hence the breather.

To expand further on prices, we have always taken the view that it is not the agent but the market that dictates pricing. We are a firm believer in allowing the very simple laws of demand and supply be the principle factor in driving price. There will always be an element of guidance and influence from Estate Agents as should be the case, but pricing is fundamentally driven and steered by a very simple method…….what did the last one sell for? Of late we are somewhat concerned by the fact that some clients of ours are being advised to increase the sale prices of their properties to levels which are upwards of 30% from recent comparable sales achieved.

Whereas BMI has in the past few months advised vendors to consider adjusting their prices accordingly due to increased demand, we believe there is a duty to the client in advising accordingly and based on real examples. In essence there needs to be clear evidence to support a market appraisal.

If you are considering selling your property, get advice from more than one agent, do your homework and then come and talk to us….;) seriously though, it’s not that hard to get a feel for the mood in the market and its important in our view that we don’t over inflate expectation in what is a strong and confident market. To summarise………let the market dictate.

GDP during the worst Global economic crisis since the 30’s, with zero bank repossessions and recognised as one of the most prosperous nations worldwide. We have to nevertheless accept that Barclays, has of late undertaken some serious cut backs worldwide and in this respect it is encouraging to hear that they will still have a presence in Gibraltar albeit a limited one. It is of course important that the Govt reacts to the loss of a retail bank, which will place some pressure on the exposure to the market that other banks will undoubtedly be exposed to and there will be a need to address how the gap is filled.

I appreciate that this article is somewhat longer than normal, but hey, there’s been quite a bit to say and quite frankly the antics from the hard core right in Madrid have p$%£*d me off – my apologies if I’ve edged a little too much into the politics on this occasion. I trust though that at the very least you have enjoyed the read, be it whilst waiting at a reception, in the queue, or in the ……..

Lastly, thanks to all those partners, business introducers and clients who support our magazine and to our new advertisers, AKS, The Caleta and Verralls.

Until the next one.

Yours Sincerely Louis C. Montegriffo Managing Director.

As I write this article news of Barclays and its somewhat aggressive cut down has just hit the media. It’s clearly sad whilst also ironic, that a bank that has been with us for well over 100 years has decided to essentially pull out of an economy that has posted consistent growth in

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5

The other side of Gibraltar Gibraltar’s Leading Hotel 2013 ***** Offering Self Catering, Fully Serviced Apartments and Suites for Mid or Long Term Rental ***** Access to Excellent Facilities Including an Award Winning Restaurant & Health & Beauty Club

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Contents Gibraltar Sales Studio & 1 bedroom 2 bedrooms 3 bedrooms 4+ bedrooms

08 12 20 28

Spanish Sales Selected Properties

32

Info Articles Property Purchases for First 16 Time Buyers-some helpful hints

BMI Magazine BMI Group PO Box 469 Unit 7, Portland House, Glacis Road, Gibraltar

experience

Gibraltar: an attractive EU 24 insurance domicile for captives Tax Facts to consider when investing in the local property market

30

Mortgage Rates Rates

42

Useful Links Directory

43

knowledge

Tel: (+350) 200 51010 Fax: (+350) 200 42621 Email: info@bmigroup.gi www.bmigroup.gi

REAL ESTATE GIBRALTAR & SPAIN

PROPERTY LISTINGS | NEW DEVELOPMENTS | INFO ARTICLES | MORTGAGE RATES

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Development Consultants SUNSET CLOSE

atlanti csuites europort residential

Thompsons Cottage 12/2

Naval

Hospital

THE

Hill

Genista House Mediterranean life at it's best...

kings wharf ANCHORAGE

T H E U L T I M AT E R E S I D E N T I A L B L I S S

Mews

BUENA VISTA

LEGAL NOTICES & DISCLAIMERS

The information provided within this magazine is for informational purposes only. BMI Property Matters Ltd endeavours to ensure that material contained in this magazine is accurate and complete at the date of publication; however BMI Property Matters ltd does not guarantee the accuracy or completeness of the information, including photographs, text, graphics, renderings and other items contained herein. You should further recognise that information contained in this magazine may become out of date at any time. This includes the properties which are listed, which may become unavailable at any time.

All prices, features, specifications, plans and availability are subject to change without notice. All maps, floor plans, drawings and elevations are artist renderings and are for informational purposes only. All dimensions and specifications are approximate.

This magazine and the information contained in it is provided for use “AS IS� without any warranty (whether express or implied) of any kind and no responsibility is assumed for the owners or operators of or content in any of the advertisements contained herein.

BMI Property Matters Ltd does not accept any liability, loss or damage of any kind arising from any inaccuracy or omission in or use of your reliance upon any information in this magazine.

Nothing contained in this magazine is intended to and does not constitute any offer to sell or the solicitation of an offer to buy any product or services from any member, officer or agent of BMI Property Matters Ltd. Nothing contained in these Terms and Conditions shall restrict or exclude any liability that BMI Property Matters Ltd shall have to any person which cannot be excluded or restricted by law.

Magazine designed & printed by www.piranhadesigns.com

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7

G IB R A LTA R S A L ES | Stu d i o & 1 B e d s

Studio/ 1beds

TOWN

MARINA BAY

8

MAR047

TOW115

ATLANTIC SUITES

ATS047

1 bedroom | 1 bathroom

Studio | 1 bathroom

Opportunity not to be missed!!! One bedroom one bathroom apartment on a 1st floor fully furnished and equipped. Located in the town centre just off Main Street with close proximity to many amenities.

Ideal buy to let!!!!

Viewing is recommended.

Spectacular studio apartment with balcony on a high floor within Atlantic Suites, boasting spectacular views of Africa, the Straights and the Bay of Gibraltar. Open plan modern fully fitted kitchen within the living room/bedroom, fitted bathroom and plenty of storage. Includes a private parking space within the secure underground garage. The amenities include a communal pool and a gym/spa. Viewing is highly recommended.

£175,000.00

£225,000.00

KINGS WHARF

KW27121

ATLANTIC SUITES

ATS085

1 bedroom | 1 bathroom

1 bedroom | 1 bathroom

1 bedroom | 1 bathroom

Charming one bedroom, one bathroom located on a 1st floor apartment in the sought after area of Marina Bay. Provides open plan designer kitchen, includes Bosch electrical appliances/living/dining room. Offers stunning views over the Marina and affords a private balcony.

Amenities include communal swimming pool and private parking not allocated.

Luxury apartment situated within this prime location of Queensway Marina. This apartment of approximately 65sqm internally also enjoys a terrace of approximately 5sqm facing North/West. The apartment consists of one bedroom, one bathroom, open plan kitchen and is situated on a mid-floor. The apartment has been finished to a very high standard throughout and high tech quality finishing`s, also includes a parking space, air conditioning reverse system. Amenities include communal swimming pool and state of the art gym. Suitable for Cat2 status.

Stunning north facing one bedroom, one bathroom apartment located on a mid floor within this exclusive development. Finished with the latest high spec contemporary kitchen and appliances as well as under floor heating in the bathroom, includes comfort cooling and heating. Amenities include swimming pool and health spa.

Viewing is recommended.

£280,000.00

£295,000.00

£325,000.00

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S tudio & 1 Beds | GIBRA LTAR S ALES

OCEAN VILLAGE

OCE042

HIGHCLIFFE HOUSE

SOU286

ATLANTIC SUITES

ATS061

1 bedroom | 1 bathroom

1 bedroom | 1 bathroom

1 bedroom | 1 bathroom

Golden Sunset fourth floor, one bedroom, one bathroom apartment within this new development combining a stunning central location, sun, views, and the unequalled facilities of Ocean Village, the best of both worlds awaits you at Grand Ocean Plaza. With the emphasis firmly place on lifestyle choice, no aspect of the design has been overlooked. All apartment come designed for Home Entertainment systems, have Full climate control and Atmospheric lighting...All Grand Ocean Plaza apartments will feature bespoke Poggenpohl kitchens with state-of-theart Fisher & Paykel appliances, master bedroom flow out onto expansive private terraces.

Unique duplex penthouse situated within this exclusive development in the south district. This property provides a spacious living room/dining room with direct access to a terrace overlooking the bay and Africa. This property is bright and airy and includes a high tech quality kitchen with appliance included, utility room and down stairs cloak room, master bedroom is located within a mezzanine floor and includes an en-suite bathroom with Jacuzzi bath and two private terraces. Also includes private parking space within the secure underground garage. Reverse Air conditioning and heating system throughout. Amenities include communal swimming pool, gymnasium & terrace.

Spacious one bedroom apartment located within this exclusive development. This apartment provides sea views and has a terrace which is accessed from the living room.

The kitchen is spacious and is fully fitted. The large master bedroom provides fitted wardrobes. There is a walk in shower in the bathroom and plenty of storage cupboards in the entrance hall. Must be viewed.

£350,000.00

£359,000.00

£360,000.00

Do you have a property to KINGS WHARF

KW27036

QUEENSWAY QUAY

QUE090

1 bedroom | 1 bathroom

1 bedroom | 1 bathroom

Luxury apartment located within this new development in this prime location of Queensway Marina. This apartment of approximately 65sqm internally will provide a terrace of approximately 55sqm facing North/West. The apartment will consist of one bedroom, one bathroom, open plan kitchen and is situated on a mid floor. The apartment has been finished to a very high standard throughout and high tech quality finishing`s, also includes a parking space, air conditioning and heating. The development will include communal swimming pool and gymnasium. Suitable for Cat2 status.

Luxury one bedroom apartment for sale within this exclusive development. The property provides a fully fitted kitchen, bathroom and air-conditioning. Private underground parking space. Communal swimming pool and fitness centre. Suitable for Cat 2.

This apartment is currently rented.

£380,000.00

£380,000.00

sell?

We have waiting clients ready to buy 1/ 2/ 3 bedroom properties.

CONTACT US NOW FOR FURTHER INFORMATION

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Your gateway to our expertise.

Welcome Premium Banking is a very different, highly personalised service that starts with one simple question, ‘what do you want it to mean to you?’ Understanding this enables us to tailor the service to meet your own personal requirements ensuring you enjoy the full benefits of Premium banking with NatWest in Gibraltar.

Expect more

For an appointment with one of our dedicated Premium Banking Relationship Managers, please call 00 350 200 70654.

The Royal Bank of Scotland International Limited trading as NatWest (NatWest). Registered Office: P.O. Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey JE4 8PJ. Regulated by the Jersey Financial Services Commission. Business address: PO Box 11, 16 Library Place, St Helier, Jersey, JE4 8NH. NatWest is the registered business name of The Royal Bank of Scotland International Limited under the Business Names Registration Act. Gibraltar business address: National Westminster House, PO Box 707, 57 Line Wall Road, Gibraltar. Regulated and authorised by the Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 57 and 55 Line Wall Road and 1 Corral Road, Gibraltar. Premium Banking service is offered subject to status, Terms and Conditions apply. Calls may be recorded.

S PECIA L F EAT URE PR O P ERT I ES

CLIFTONS SOU319 Features:

• 3 Bedrooms • 2 Bathrooms • Terrace • Gymnasium • Communal Swimming Pool • Highly recommended • Close to amenities

£750,000 Three bedroom, two bathroom (plus study) loft style apartment situated within this exclusive development of The Cliftons. This apartment provides 130sqm + 15sqm mezzanine floor and includes two terraces one of 33sqm and a second of 70sqm featuring a private pool. The property is decorated to a high standard throughout with high ceilings, original hard wood floors and includes two private parking spaces. Provides spectacular views of the bay. Amenities include communal swimming pool and gymnasium. Must be viewed.

EUROPLAZA EPL149 Features:

• 4 Bedrooms • 3 Bathrooms • Terrace • Air Conditioning • Highly recommended • Close to amenities

£749,500 Well-appointed four bedroom, two-bathroom duplex apartment located within this exclusive development. This apartment enjoys a south/west view towards the bay & Africa and has been finished to a very high standard with hardwood flooring, dual system air-conditioning throughout and high spec kitchen. Bathrooms have been fitted with marble tiles. Working fireplace, fabulous glass panel façade in living room with extremely high ceiling are the main features within this property. Includes one parking space.

Viewing is highly recommended.

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G IB R A LTA R S A L ES | 2 B e d rooms

2 bed

CARLTREE HOUSE

WATERGARDENS

WAT075

DEV012

MON091

2 bedroom | 1 bathroom

Three bedroom duplex apartment converted into a two bedroom plus studio but easily converted back. This property is light and spacious and provides a large family kitchen and sitting room. The two bedrooms have plenty of storage throughout. The bathroom has recently been refurbished. Provides wooden laminate flooring througout.

Air conditioning also features within this property. There is parking facility within the vicinity and a communal patio with barbeque area. viewing is highly recommended. Great starter home!

Bright and airy two bedroom, one bathroom apartment on a 3rd floor located within this popular development.

Features laminate flooring throughout and plenty of storage space. Includes a private parking space within the underground garage. Must be viewed! Sold partly furnished and ready to move in.

£172,000.00

£185,000.00

SOUTH DISTRICT

SOU461

KINGS WHARF

KW27116

2 bedroom | 2 bathroom

2 bedroom | 1 bathroom

2 bedroom | 2 bathroom

Three bedroom converted to two ( can easily be converted back), two bathroom apartment. Located within this ever popular development near the marina area and with close proximity to the town centre. On a high level providing spectacular views of the Ocean Village Marina and the Rock. Viewing is recommended.

Well maintained 2 bedroom apartment of approximately 95m2 in the South District. The property is sold furnished comprising of a fully fitted kitchen with an adjacent utility patio, bathroom, guest cloakroom and spacious living room. Includes a lock-up garage.

Viewing is recommended.

Luxury two bedroom two bathroom apartment located on a low floor with a west / north aspect. Provides an area of approximately 87m2 internally and terrace/balcony of approximately 20sqm. Fitted to a very high standard throughout with high tech quality finishing’s, includes a private parking space, air conditioning (Dual system).

Amenities include a communal lap pool, state of the art gym and gardens. Viewing is a must. Currently let unfurnished.

Ideal buy to let opportunity!!!! 24 hrs notice required for viewings.

* Fitted wardrobe in both bedrooms * By separate negotiation option to purchase a 4 bedroom duplex apartment directly above which would add approximately 140m2 of living area plus 40m2 terrace.

£279,000.00 12

MONTAGU CRESCENT

2 bedroom | 1 bathroom

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£300,000.00

£375,000.00

2 Bedr ooms | GIBRA LTAR S ALES

KINGS WHARF

KW27106

KINGS WHARF

KW27107

QUEENSWAY QUAY

QUE082

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

This luxury apartment is located within a new development which has recently completed in the prime location of Queensway Marina. The apartment is approximately 88sqm internally and provides a terrace of approximately 7sqm. It is partly furnished with a fully fitted kitchen and bathrooms this also includes heated floorings in both bathrooms and heated towel rails. Property is South/West facing providing sea views and is located on a low floor.

The apartment consists of two bedrooms, two bathrooms, kitchen and living room, includes a parking space.

Luxury apartment located within this new development recently completed in this prime location of Queensway Marina. This apartment of approximately 88sqm internally provides a terrace of approx 7sqm and is South / West facing providing sea views and is located on a low floor.

The apartment consists of two bedrooms, two bathrooms, kitchen and living room, includes a parking space.

Two bedroom, two bathroom apartment of approximately 95sqm with a terrace of approximately 10sqm within this popular luxury marina complex. This apartment provides a spacious kitchen, living room and bedrooms share access to terrace enjoying views of the marina and bay. Master bedroom provides en-suite bathroom, second bedroom has fitted cupboard. Amenities also include a communal swimming pool and gymnasium. Parking space is also included within the underground garage.

Sold fully furnished.

Viewing is recommended.

£389,000.00

£399,000.00

£480,000.00

OCEAN VILLAGE

OCE156

ROCK GARDENS

ROCKG015

ROCK GARDENS

ROCKG005

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

This modern Luminous Waters apartment in Grand Ocean Plaza offers quality fittings and a high level of finish throughout. It boasts a luxury fitted kitchen with top of the range appliances, designer bathrooms with underfloor heating and is fully air-conditioned. The bright living area leads onto a spacious terrace with fantastic views. The property includes an allocated parking bay and residents enjoy 24 hour security and access to the extensive pool area.

Well-appointed 2 bedroom, 2 bathroom apartment decorated to a very high standard and situated in an elevated position within this new development Rock Gardens providing spectacular views across the Bay of Gibraltar. This spacious apartment is of approximately 109m2 internally, 34m2 of terrace and includes a private parking space. Amenities include communal swimming pool. Viewing is highly recommended.

Luxurious apartment decorated to a very high standard and situated in an elevated position within this new development Rock Gardens providing spectacular views across the Bay of Gibraltar. Rock Gardens comprises of beautiful light and spacious apartments and penthouses complete with cutting edge fittings and features that will arguably elevate this address to one of the most sought after in Gibraltar. This spacious apartment is of approximately 115sqm internally and 20sqm of terrace and includes a private parking space.

Amenities include communal swimming pool. Viewing is highly recommended.

£499,999.00

£575,000.00

£599,000.00

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G IB R A LTA R S A L ES | 2 B e d rooms

TRADEWINDS

TRA002

THE SAILS

QUE058

CLIFTONS

SOU312

2 bedroom | 2 bathroom

2 bedroom | 1 bathroom

2 bedroom | 2 bathroom

Luxurious development conveniently located at Marina Bay between the town centre and the Spanish/Gibraltar border, Tradewinds occupies the last section of waterfront land at Marina Bay. This apartment is located within the first tower and consists of a spacious two bedroom facing directly onto the Marina. Features include floor to ceiling windows and sliding doors to the terraces, latest contemporary fixtures & fittings, Poggenpohl fully fitted kitchens, wood floors and air-conditioning. An underground parking space is also inclusive. This property is currently let until end of 2014.

Ideal as an Investment!!!! CAT 2 status.

Stunning two bedrooms, one bathroom apartment located within this exclusive development in the Queensway marina. This property provides views of the marina from a large terrace. The bedrooms provide fitted wardrobes.

Sold fully fitted. includes a private parking space. Amenities include communal swimming pool. Buy to let. Must be viewed.

2 bedroom, 2 bathroom penthouse in this luxury development found in the south district. The Cliftons boasts a beautiful setting of the restored old Naval Hospital.

This penthouse is 169 sqm and has a fantastic living room with open plan kitchen, walk-in wardrobes and en-suite bathrooms in both bedrooms and a fantastic large terrace.

This apartment comes with a parking space and has access to the communal gym and pool.

£620,000.00

£640,000.00

£675,000.00

Do you have a property to THE SAILS

14

QUE064

OCEAN VILLAGE

OCE123

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

Luxury two bedrooms, two bathroom apartment located within this exclusive development in the Queensway marina.

The property has been fitted to a very high standard and has been tastefully decorated. Master bedroom provides walk-in wardrobe and en-suite bathroom. Property boasts of a partially large covered terrace enjoying stunning marina views. .

Sold fully furnished and includes two allocated parking spaces. Amenities include communal swimming pool.

Must be viewed.

Great opportunity and great investment to purchase this spacious 2 bedroom 2 bathroom duplex apartment located on a 16th/17th floor in the stunning New Development of Ocean Village built and fitted to a very high standard. On the first level open plan designer kitchen/lounge leads to a spacious terrace offering 180 degree views, laundry room and guest cloakroom. Above on the 2nd level 2 double size bedrooms leading to terrace and en-suite bathrooms with under floor heating. The property includes allocated underground parking space, 24 hour security and access to 5 swimming pools.

Viewing is recommended.

£785,000.00

£895,000.00

| www.bmi g roup.gi

sell?

We have waiting clients ready to buy 1/ 2/ 3 bedroom properties.

CONTACT US NOW FOR FURTHER INFORMATION

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15

Property Purchases for First Time Buyers-some helpful hints.

Most people find buying their home to be one of the most stressful events of their lives. Buyers, most of whom are making the biggest investment of their lives, are faced with important decisions about which property to buy and what mortgage to choose, and added to this buyers are faced with a whole raft of legal terminology such as leases, assignments, pre contract enquiries and completion.

Most of the terminology is actually quite easily explained.

Types of legal Interests Available.

There are two ways of holding property in Gibraltar. A freehold interest is one which can be inherited by your heirs forever. A leasehold interest is a grant of the use of a property for a period of years, normally 99 years or 150 years, and sometimes for 999 years. Freeholds are available when purchasing the older town houses, but if you are buying a flat within one of these old town houses, for technical reasons you would probably buy a leasehold interest. You should take care to ensure your lawyer advises you on which interest you are buying, and if it is leasehold, how long remains on the lease. Most modern apartment blocks are held on leasehold. When transferring a freehold property, the deed of transfer is known as a “conveyance.” In leaseholds, the deed of transfer is known as “an assignment.”

The importance of a survey When purchasing a freehold, buyers buy the property “as is.” If the property has any defect in it and or needs substantial money spent there is no right to claim any compensation

16

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from the seller. When purchasing a leasehold the seller gives the buyer an assurance that he has at least complied with the terms of his lease, and in the deed of transfer (assignment) he will give you an indemnity for any breaches of his obligations under the lease, but as long as the seller has complied with his lease obligations to repair, there is no guarantee from the seller for any other defects in the property. It is therefore sensible for buyers to commission an expert to look at the property and examine its condition and report to them so that buyers are satisfied that it is in a suitable condition.

A buyer’s lender will normally commission a valuation of the property from a qualified surveyor. Buyers should realise that this is a simple look at the property to ensure that it is of sufficient value to justify the amount being lent by the lender. It is not a detailed examination of the property.

The importance of pre-contract enquiries Sellers recoil in horror when their lawyers send them pages and pages of pre-contract enquiries for completion by them for onward transmission to the buyer. Similarly buyers are also upset to receive the responses to precontract enquiries in scrawled handwriting written by the seller’s lawyer and written in terms which are evasive and covered in disclaimers. However pre-contract enquiries serve an important function for buyers, and could have unforeseen pitfalls for sellers if they do not address their minds to them properly.

Pre-contract enquiries are a series of questions regarding a wide ranging issues of the property including the exact boundaries of the same, whether any alterations have been carried out, enquiries relating to service charge and

insurance and whether there have been any disputes between the owner and the landlord and /or other tenants of the property.

Sellers are under no duty to respond to these but they are important to buyers because they establish a certain amount of due diligence which most lawyers will require before they can report to the building society that the property is a safe property for the building society or bank to lend on. A seller who does not respond to the pre-contract enquiries could jeopardise his sale.

On the other hand if the seller does respond to the enquiries, he must take to answer the enquiries accurately and with all due diligence.

If not, he could find himself liable in damages for misrepresentation.

For further information, please don’t hesitate to contact the author of this article julian.triay@triay.com.

thinking of moving?

Buying a home is probably the biggest investment you will ever make and selling is often a realisation of such investment. Whether buying or selling, it is imperative that you receive impartial advice.

Our property team comprises of leading lawyers in the real estate sector and offers a complete service whether residential or commercial including: • A full service including pre-contract advice/enquiries • Preparation of all documentation • Effective action to ensure your transaction goes smoothly • A timely flow of information so that you are kept updated • Competitive rates Triay & Triay value your need for both independent and unbiased advice and we do not act for both buyer and developer in any transaction.

So whether you are buying or selling, contact the legal experts in our property department to arrange an appointment or email info@triay.com

Gibraltar’s Lawyers Since 1905 • • • • • • • • • • • • • •

Private Client / Wealth Management Corporate & Commercial Employment Family Insolvency Financial Services & Investment Funds Litigation Personal Injury Property Shipping & Admiralty Taxation Telecommunications & E-commerce Trusts Wills & Probate

Triay & Triay, 28 Irish Town, Gibraltar Tel: +350 200 72020 • Fax: +350 200 72270 • www.triay.com • info@triay.com

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17

Life has moved on...line Sapphire Networks, growing with your needs

www.sapphire.gi +350 200 47 200 - info@sapphire.gi Suite 3.0.3 Eurotowers, PO Box 797, Gibraltar

S PECIA L F EAT U RE PR O P ERT I ES

QUEENSWAY QUAY QUE047 Features:

• 5 Bedrooms • 5 Bathrooms • Balcony • Garden • Gymnasium • Communal Swimming Pool • Close to amenities

£1,750,000 Exclusive five bedroom, five bathroom detached villa situated within the prestigious queensway marina. This property provides the possiblity of converting into a 7 bedroom villa with the additional study and dining room area. Includes a private back garden with ample space to built your own private swimming pool. A lock up garage also features with this property as well as 2 other parking spaces within the open garage that can fit up to 4 cars. A stunning property viewing is highly recommeded.

GARDINERS ROAD GAR035

Features:

• 4 Bedrooms • 2 Bathrooms • Garden • Terrace • Swimming Pool • Highly recommended • Close to amenities

£695,000 Unique property on three levels situated in Gardiners Road, this property provides 4 bedrooms, 2 bathrooms. Beautifully refurbished throughout with spacious open plan kitchen, dining area and living room providing access onto a spacious garden which includes a private swimming pool and terraced area, great for entertaining! The lower level provides the privacy of a double bedroom with en-suite shower room, with possibility of conversion into a granny flat. There is also an adjacent utility room. There is a front porch area which provides parking. Very low outgoings. Must be viewed!

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G IB R A LTA R S A L ES | 3 B e d rooms

3 bed

DEVILS TOWER ROAD

TRAFALGAR HOUSE

20

TOW131

DEV021

VINEYARDS

SOU466

3 bedroom | 2 bathroom

3 bedroom | 1 bathroom

Bright and airy three bedroom two bathroom property situated in Devils Tower Road. This property comes partly furnished with a stunning open plan fitted kitchen(includes double American fridge freezer and Range Master oven)/ living / dining room leading onto a spacious 7m2 balcony offering pleasant views of the surrounding area. Features ceramic tiling throughout and fitted wardrobes in two of the bedrooms. The property offers great potential, however, in need of some DIY. Competitively priced to allow for any updates. Viewing is recommended.

Two bedrooms, one bathroom located on the ground floor of this ever popular family orientated development situated in the south district. This property is decorated to a high standard. Amenities include childrens playground. Parking facility is also inclusive. Viewing is recommended.

£150,000.00

£185,000.00

SOUTH DISTRICT

SOU468

WEST VIEW PARK

WES025

3 bedroom | 1 bathroom

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

Situated within the outskirts of town this recently refurbished rock facing apartment of approximately 80m2 provides spacious living areas with high ceilings and consists of three bedrooms, one bathroom, one small study, dining kitchen fully fitted and equipped and storage room. Other features: * Double glazed windows * Mosquito nets * Laminate flooring * Floor to ceiling quality tiling in bathroom Price includes lease extension. Sold partly furnished. Viewing is recommended.

Bright & spacious three-bedroom two bathroom (one en-suite and 2nd shower room) apartment on a 1st floor of approx. 104m2 decorated beautifully throughout with high ceiling and mostly wooden flooring, providing a fully fitted and equipped galley kitchen. Enjoys a private patio of approx. 5m2. This property is located in the popular South District and is walking distance to Rosia Bay & Camp Bay. Ideal as a family home!!!! Ready for immediate occupation!!! Sold partly furnished. Don’t miss out on a viewing. Preferable chain free applicants are required as selling time is of essence.

Recently decorated and well presented three bedroom, two bathroom apartment situated on a 3rd floor. This property consists of a large “Pepe Cote” fitted kitchen adjacent to a utility room, spacious living room with access to an East facing terrace offering fantastic views of the Rock.

Parking space included within the underground garage.

Viewing is highly recommended.

£240,000.00

£249,000.00

£260,000.00

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3 Bedr ooms | GIBRA LTAR S ALES

MARINA COURT

MAR045

WATERGARDENS

WAT070

TRAFALGAR HOUSE

TOW136

3 bedroom | 1 bathroom

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

Recently refurbished spacious three bedroom, one bathroom apartment located on a high floor of the Marina area. This property includes a fully fitted kitchen and bright bedrooms. With views to the rock this apartment is well worth viewing.

Three bedroom apt located on a mid-floor providing spectacular views of the Ocean Village Marina and the Rock. This apartment is in good order and has been recently decorated. The location of this property allows for easy access to the border and to the city areas. An ideal starter home or buy to let prospect.

Viewing is recommended.

A spacious and bright 3 bedroom apartment (approx.

150sqm) in Trafalgar House, at the end of Main Street, Gibraltar. The apartment consists of a large kitchen/dining area, large lounge with working fireplace, 3 bedrooms (sleeps 6) a full family bathroom and a smaller shower room with toilet and wash-basin. The property has airconditioning/heating installed and a loft area for ample storage. Trafalgar House has a communal patio, roof top for hanging clothes, lift service and satellite TV. Ample parking facilities are available in the Grand Parade car-park, next door.

£269,000.00

£275,000.00

£299,500.00

WATERGARDENS

WAT073

CORNWALLS LANE

TOW100

SOUTH DISTRICT

SOU475

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

Three bedroom two bathroom apartment located within this ever popular development near the marina area and with close proximity to the town centre. This apartment is located on podium level and provides two terraces one being of approximately 30m2 and 2nd one of approximately 12m2 both leading from living room offering Marina Views. Sold furnished. Great investment potential.

Viewing is recommended.

Well presented 3 bedroom, 2.5 bathroom apartment within the town centre, on a 3rd floor and with lift access. Kitchen is fully fitted and equipped, includes two ovens and two ceramic hobs. The property has been refurbished throughout and fitted with laminate flooring and double glazing. Master bedroom comprises of a utility/ laundry room which could be used as walk-in wardrobe.

Best of all! The property boasts of a private roof terrace of approximately 109m2 with shed, offering views of the town and bay.

Viewing is a must.

£320,000.00

£330,000.00

Spacious, bright and airy duplex apartment located in the south district of approximately 120m2 internally and 30m2 of terraces overlooking the Bay, Rock and Africa.

This apartment provides on the 1st level a spacious family kitchen fully fitted and equipped, shower room, living/dining room leading to terrace with fitted awning. Downstairs level provides three bedrooms and main bathroom. Master bedroom leads to a stunning south facing terrace enjoying views as above in living/dining room. Includes integrated store room and lots of storage throughout. Also provides a private parking space within the secure underground garage. Viewing is recommended… don’t miss out on this viewing!!!

£505,000.00

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G IB R A LTA R S A L ES | 3 B e d rooms

ANCHORAGE

GENISTA HOUSE

SOU467

CLIFTONS

SOU480

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

Three bedroom, two bathroom located within a low floor situated within this recently completely development.

The apartment provides excellent views of the bay and Africa. Provides 132sqm internally plus 33sqm of terraces.

Amenities include childrens playground and health spa.

Include a private parking space within the underground garage. Must be viewed.

Stunning three bedroom apartment recently refurbished throughout of approximately 156m2 internally with private covered terrace of approx 30m2 providing views of the Bay and Africa as well as the rock. The property consists of spacious living/dining with large open plan kitchen inclusive of appliances.

Bathrooms are fitted with high quality contemporary suites with chrome fittings and walk-in shower on the ensuite bathroom.

The property also features solid oak flooring throughout except bathrooms and terrace which features non slip natural stone effect tiles. Floor to ceiling windows of a high spec doubleglazing are fitted throughout with solar reflective energy efficient glazing to south and west elevations and comfort heating and cooling to all bedrooms and reception room. Private plunge pool also features with this property. Two private parking spaces and one store room is also inclusive. Communual gymnasium.

Three bedroom, two bathroom (plus study) loft style apartment situated within this exclusive development of The Cliftons. This apartment provides 130sqm + 15sqm mezzanine floor, including two large terraces one of approx. 33sqm and the second approx.15m2. The property is decorated to a high standard throughout with high ceilings, original hard wood floors and includes private parking. Provides spectacular views of the bay. Amenities include communal swimming pool and gymnasium. Must be viewed.

£525,000.00

£545,000.00

£625,000.00

SOUTH DISTRICT

22

ANCH071

3 bedroom | 2 bathroom

SOU477

QUEENSWAY QUAY

QUE085

SOUTH DISTRICT

SOU364

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

3 bedroom | 2 bathroom

Situated in a serene sought after area of the south district, is this spectacular, beautiful, spacious three bedroom two bathroom Penthouse apartment. This property comprises of a very large lounge/dining open plan new kitchen fully fitted and equipped, offering spectacular panoramic views, three large bedrooms with two beautifully fitted spacious bathrooms. Features oak flooring throughout as well as air conditioning. Enjoys three private terraces and includes a private secure undercover parking space. Amenities include communal swimming pool and gym. Viewing is a must.

Superb Duplex Penthouse by Taylor Woodrow in a spectacular position in Queensway Quay marina with five balconies, overlooking the marina and Spain to the North and Morrocco and Gibraltar to the south. A perfect family home set in a quiet private and gated road with private parking, communual pool, gym, sauna, jacuzzi, play park etc. The property is accessed via a flight of stairs to a hallwall with plenty of storage leading to a spacious living room / dining room and onto a large balcony overlooking the marina. The kitchen is fully fitted with Bosch dishwasher, fridge freezer, hob, oven and washing machine and has a balcony with views to Marrocco. Upstairs on the second floor are three double bedrooms with a master ensuite bathroom in the main bedroom and a separate family bathroom.

Colonial style semi detached house located within the upper south district. This property provides three very good size bedrooms as well as two en-suite bathrooms of a very good size. There are many original features within the property that provide a unique colonial feel, such as working fire places, high ceilings, spacious landing and stair case, original wooden flooring as well as original marble flooring to the entrance of the property, large windows, covings and much more. The property includes a good size kitchen which is adjacent to a converted den now being used as a dining area. Outside there is a good size patio/garden with pergola area, great for entertaining as well as a utility area which also provides a side entrance to the property.

£690,000.00

£695,000.00

£895,000.00

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Make your property

purchase totally

stress free

Our team of specialists are committed to providing you with detailed and practical advice whether you are buying a property, straying a business or you are going through a divorce, in order for you to properly understand the process and make informed decisions about your future.

Our firm has substantial expertise in telecoms, gaming & betting, international tax planning, private clients, employment, wills & estates, insurance and civil and criminal litigation.

Let Verralls take care of it.

Verralls Barristers & Solicitors 2B Centre Plaza, 2 Horse Barrack Lane, Gibraltar Tel: +350 200 47252 Fax: +350 200 72789 Email: office@verralls.gi

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23

Michael Ashton, of the Gibraltar Finance Centre, Government of Gibraltar, gives his thoughts on what makes:

Gibraltar

an attractive EU insurance domicile for captives Gibraltar is a long established European Union (EU) captive domicile with many years of experience in running and managing captive insurance companies. Gibraltar has a vibrant and growing insurance sector which has grown from just 13 licensed insurers in 2000 to the 55 insurers currently licensed to write new business. In 2011 the total gross premium income written by insurance companies in Gibraltar was £3.2bn and these companies held assets of over £7.5bn.

Collectively, the captive insurance companies accounted for almost £500m of the £3.2bn written in 2011.

Unlike certain other European financial centres which are predominantly captive domiciles, the majority of the insurance written in Gibraltar is non-life, with motor the dominant class of business. Gibraltar motor insurers currently write over 10% of the total UK motor market, utilising Gibraltar’s EU membership which confers passporting rights in insurance, insurance mediation and reinsurance across all EU and European Economic Area (EEA) countries. Household names such as Arriva, Dixons, Severn Trent and Tate & Lyle have all chosen Gibraltar as a domicile for their EU captives.

Choosing an EU captive domicile A major consideration for a new captive owner when choosing a European location is whether to establish the business inside or outside of the EU. The capital requirements within the EU are more onerous than offshore locations but captive owners wanting direct access to EU markets are prepared to invest to take advantage of the operating flexibility and benefits that an EU jurisdiction such as Gibraltar offers.

24

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What Gibraltar has to offer: A competitive timeframe for the authorisation and licensing of a new insurance company.

The Financial Services Commission (FSC) is Gibraltar’s financial services regulator and one aspect of its work is to monitor the extent to which Gibraltar legislation and supervision complies with European Union obligations.

The FSC undertakes to process insurance applications for authorisations in timeframes that are well below the statutory six month requirement. The service level standard for insurance companies is 18 weeks and provided an applicant makes a full and comprehensive submission with all accompanying documents, it should be possible to establish a licensed insurance company within six months.

There is general consensus that the FSC is an accessible regulator and that requests for changes to a licensed insurance company’s business plan are reviewed in a timely yet robust manner. As regulation becomes increasingly more onerous for insurance companies and the industry demands swifter decisions in an ever faster and competitive business environment, the ability to be able to access an insurance regulator is a key factor in the choice of an insurance domicile.

A wide range of insurance expertise and skill sets.

Gibraltar was the first EU jurisdiction to offer Gibraltar insurance companies write life, non-life and captive business and therefore the insurance community has the skills and

connections to assist captive owners with the front-end solutions required in writing direct third-party business.

This is an increasingly important aspect for captive owners when choosing a captive domicile or deciding on how best to maximise the capital they have employed within the captive.

There are eight licensed insurance managers in Gibraltar including two of the three largest global insurance managers together with independent companies.

These managers play a key role in supporting the captive owners and assisting them in evolving and developing the insurance operations of the captive including:

• Risk management – the importance of integrating the captive within a group’s overall risk strategy should not be underestimated.

The captive can offer an effective focal point for the collation, management and dissemination of insurance information, particularly where global programmes are managed via the captive rather than different countries or regions independently purchasing their own insurance protections.

• Direct writing – Captive owners are increasingly looking to maximise capital value and one way in which they can do so is to widen the use of their existing captives to write direct business. Thus an energy company may write boiler insurance. Subject to regulatory approval there may be opportunities to write insurance for sub-contractors in ownercontrolled programmes, insurance policies for

joint ventures or insuring employee benefits such as medical benefits, personal accident and permanent health insurance. In addition to providing an opportunity to write additional revenue, the ability to write direct third-party owner business reduces the need for fronting arrangements. Thus leakage of income to the fronting company and the need for funds to be tied up with the fronting company’s security requirements are both reduced.

Importantly, in a world where responsiveness is a key business requirement the ability to make swift decisions to react to changing market conditions is paramount. The captive can quickly introduce changes to products and rates without the need to go through a fronting company’s compliance department.

• Behavioural change – There is no doubt that changing employees’ behaviour can lead to better risk management and lower claims frequency. Captive owners are increasingly employing more sophisticated methods to maximise the value of their captives within the overall risk management of a business.

Rather than operating the captive in a passive manner whereby higher claims frequency in one particular year leads to higher premiums in the subsequent year, the “insurer” is taking a more active role in contributing to better risk management. One captive in Gibraltar has recently agreed to fund half the cost of a training programme within the wider business.

Changes that incentivise future behaviour rather than penalise past performance are increasingly deployed to achieve better risk management and thus lower the overall cost of risk.

The professions supporting Gibraltar insurance market

the

Three of the ‘big four’ audit firms have operations in Gibraltar as do a number of other leading accountancy firms and there are also independent local firms. Insurers’ legal requirements are well served with a wide choice of well qualified legal practitioners and 16 banks and building societies are currently authorised by the FSC. Two major

UK banks and two major Swiss banks offer a comprehensive range of products and services to the Gibraltar insurance sector. One of the Swiss banks, a traditional private bank, has expanded beyond what many would consider the usual territory of a private bank with a local team of equity and fixed income specialists that carefully analyse the needs of an insurer before structuring an investment strategy to meet its liquidity requirements.

Such institutions are experts in their field and fully understand the regulatory environment with which insurers need to comply. This extends to preparation for Solvency II and the complex future which insurers will face when it comes to maximising investment returns and risk. Thus Gibraltar can provide new captive owners with an in-depth and truly world class investment process and methodology as part of the overall professional services “package”.

Protected Cell Companies (PCCs) Three of Gibraltar’s captives are protected cell companies (PCCs) which collectively manage 32 cell companies. In addition, there are two PCCs writing life insurance business.

Gibraltar was the first EU jurisdiction to offer protected cell companies legislation in 2001 and as a result, Gibraltar PCCs are widely used. The innovative nature of the PCC has led to one insurance manager creating almost 50 cells and its PCC is the largest in the EU, providing solutions for both cell captives and fronting cells.

There is a market requirement for EU captives that can (i) cede European risks where the parent is not licensed to write direct insurance in Europe and (ii) access reinsurance markets.

Gibraltar expects to build on its reputation as a gateway to the EU in the future.

The cost efficiencies of using a cell captive, as opposed to a standalone captive, together with the continuing uncertainties surrounding the implementation of Solvency II and its impact on the formation of new EU-domiciled captives in recent years, is likely to ensure Gibraltar’s existing PCCs continue to expand over the next few years.

In summary, Gibraltar’s insurance expertise, speed to market and the professional services that support the insurance sector make it a very attractive EU insurance domicile for new captive insurance companies and PCC cells.

Michael Ashton, of the Gibraltar Finance Centre, Government of Gibraltar, gives his thoughts on what makes Gibraltar an attractive EU domicile for captives MICHAEL ASHTON has worked in the insurance industry for over 20 years. He spent 15 years in the Lloyd’s Market in a number of senior management roles including COO of ACE Global Markets, at the time, the largest insurance syndicate at Lloyd’s. Michael is a qualified chartered accountant.

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25

TRIAY STAGNETTO NEISH Barristers & Solicitors Burns House, 19 Town Range, Gibraltar Tel: (+350) 200 79423 / 200 73530 Fax: (+350) 200 71405 Email: tsn@tsnlaw.com www.tsnlaw.com

S PECIA L F EAT URE PR O P ERT I ES

JUMPERS BUILDING

ADMIRALS PLACE

SOU350

SOU350

Features:

• 4 Bedrooms • 2 Bathrooms • Terrace • Air Conditioning • Communal Swimming Pool • Communal Gymnasium • Close to amenities

£415,000

Four bedrooms, two bathrooms apartment located within this popular building in the south district. This apartment provides approximately 95sqm internally plus 10sqm of terrace. The property has been decorated to a high standard and offers plenty of storage space. Kitchen has been newly fitted and bathrooms recently refurbished. Provides stunning views of the bay. Also includes a private parking space within the underground garage and reverse A/C in living / dining room and master bedroom.

Features:

• 3 Bedrooms • 2 Bathrooms • Terrace • Patio • Communal Swimming Pool • Communal Garden • Highly recommended • Close to amenities

£980,000

Stunning two storey colonial property! This semi-detached is decorated to the highest standards throughout. The property is of approximately 160m2 and enjoys upstairs (17m2) and downstairs patio/terrace of approximately 30m2 as well as two private parking bays. Located in Admirals Place, residents will enjoy private communal gardens within a secure gated community which includes a large swimming pool and children’s pool with stunning views to the bay and Africa. Internally, this unique house has retained the original hard wood floors and includes high quality family kitchen with dining area. The separate living dining room is light and features a working fireplace and high ceilings as the rest of the household.

SOUTH DISTRICT

SOUTH DISTRICT

BVP005

SOU457

Features:

• 4 Bedrooms • 2 Bathrooms • Balcony • Terrace • Communal Swimming Pool • Close to amenities

£1,275,000

Set on the historic site of the Buena Vista Battery, this unique new development is a first for Gibraltar. Contemporary yet understated, it’s an exclusive collection of executive townhouses and detached villas with gardens, solariums and swimming pools. Investing in a Buena Vista Park Villas property makes perfect sense, from location to lifestyle. Continental views across to Africa and Europe with 300 days of sunshine each year. Unrivalled privacy and security in a gated community. And, of course the many tax incentives that Gibraltar offers, including a Category 2 residency status, designed for high net-worth individuals relocating to Gibraltar, no capital gains tax, no VAT or inheritance tax.

Features:

• 4 Bedrooms • 3 Bathrooms • Garden • Terrace • Patio • Close to amenities

£2,950,000

This stunning conversion from two ex-MOD bungalows, affords approx. 250sqm internally with over 1000sqm of landscaped external areas that fall within the boundaries of the upper rock nature reserve. The property is decorated to the highest standards and includes hard wood floors, high ceilings with original wood beams and includes all the modern fittings that one expects whilst always sensitive to the history and character of this truly special piece of real estate. Commanding views of the bay of Gibraltar are enjoyed from patios, terraces and landscaped gardens that surround the entire property; in addition there is an internal natural patio of approx. 100sqm with the rock face providing an amazing backdrop and providing for the properties private and exclusive cave.

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G IB R A LTA R S A L ES | 4 + B e d rooms

4+ bed

South District

ANCHORAGE

28

ANCH110

SOU304

EUROPLAZA

EPL147

4 bedroom | 2 bathroom

4 bedroom | 2 bathroom

Large four bedroom, two bathroom property in the St. Josephs area of the south district. This beautiful property has three large bedrooms with fitted wardrobes and a master bedroom with en-suite. A brand new fully fitted eat-in kitchen has recently been added to this property. The living room is a great size and leads on to a balcony area, which enjoys stunning westerly views of the bay. This property also has a roof terrace of approximately 36sqm, where there are stunnning views, a built in barbeque and more storage space.

The current owners have applied for permission to extend the property up wards into a roof/attic space, which could add approximately 80sqm to the property (awaiting approval).

This property must be viewed to be appreciated.

Four bedroom, two bathrooms located within this exclusive development. This apartment provides 145sqm internally and 15sqm of terraces. Has views of the rock, partial sea views and is located on a high floor. Parking space is also included within the secured underground garage. Viewing is highly recommended.

£399,500.00

£549,950.00

Marina Bay

MAR048

LORD NAPIER VIEWS

SOU474

4 bedroom | 2 bathroom

4 bedroom | 3 bathroom

4 bedroom | 3 bathroom

Four bedrooms, two bathrooms garden apartment set in an exclusive gated development within Gibraltar’s south district; enjoying its very own micro climate and landscaped gardens. This apartment is of approximately 150m2 and includes terrace area of approximately 27m2 with garden area of 15m2 approx.. The apartment has been finished and decorated to a very high standard with hardwood timber flooring throughout, contemporary quality fully fitted kitchen includes appliances of a high standard and fully fitted designer bathrooms. Dual air-conditioning throughout. Includes two parking spaces and 2 stores. Amenities include: a children’s park, gym and indoor communal spa pool within the Grand Magazine.

Sold fully furnished.

Recently refurbished luxury apartment converted from two apartments, decorated to the highest of standards.

Enjoys a large 25m2 approx. kitchen/days room with high tech appliances leads to private terrace (5m2) affording spectacular views to the Marina. In addition the property features hard wood floors throughout except kitchen area and bathrooms - A/C to all rooms - ample storage fitted cupboards. A large living room also provides direct access to a west facing terrace with large sliding glass doors providing picturesque views plus an east facing terrace providing views of the Rock and Mediterranean. Permit parking bay included for 2 cars. Viewing is a must.

£599,500.00

£625,000.00

Fabulous Town House located within Lord Napier Mews and providing stunning views of the bay of Gibraltar from each of its four levels. Stunningly furnished and fitted throughout with ground floor kitchen diner (inclusive of separate utility room and WC) and leading out onto a large decked terrace and own private garden area. Upper levels include large reception with French doors and Juliet balcony, study/bedroom, and three bedrooms with three bathrooms (two en-suite). The property is of approx. 160sqm internally with approx. 60+sqm of external area (shared into 3 balconies and downstairs terrace leading to private garden) and incorporates ample built-in storage space. This is an ideal home for a family looking to move away from apartment living, with plenty of secure external communal and landscaped areas shared amongst the 12 homes. The property will be sold partly furnished and is provided with one allocated secure parking space, with the option to acquire a second.

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£795,000.00

S PECIA L F EAT URE PR O P ERT I ES

ANCHORAGE ANCH110 Features:

• 4 Bedrooms • 2 Bathrooms • Garden • Terrace • Air Conditioning • Communal Gymnasium • Highly recommended

£599,500 Four bedrooms, two bathrooms garden apartment set in an exclusive gated development within Gibraltar’s south district; enjoying its very own micro climate and landscaped gardens. This apartment is of approximately 150m2 and includes terrace area of approximately 27m2 with garden area of 15m2 approx.. The apartment has been finished and decorated to a very high standard with hardwood timber flooring throughout, contemporary quality fully fitted kitchen includes appliances of a high standard and fully fitted designer bathrooms. Dual airconditioning throughout. Includes two parking spaces and 2 stores. Amenities include: a children’s park, gym and indoor communal spa pool within the Grand Magazine. Sold fully furnished.

SOUTH DISTRICT SOU450

Features:

• 4 Bedrooms • 2 Bathrooms • Garden • Terrace Swimming Pool • Highly recommended • Close to amenities

£1,400,000 Don’t miss out on this opportunity to purchase a four bedroom two bathroom detached house within the south district. This property consists of a spacious family kitchen with adjacent dining room. Living/ dining room provides a working fireplace. On the top floor there are three double size bedrooms and bathroom. The property provides lots of storage throughout and offers the possibility of extension in order to add extra living area. (Subject to planning permission - plans available upon request). There are two open terraces enjoying panoramic views of the bay and Africa. Additional a private swimming pool with open lounging area, BBQ area and toilet, sits in the upper level of the garden. The property also provides a lock-up garage. Must be viewed.

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29

Tax Facts to consider when investing in the local property market In the last couple of years we have seen an upward trend of investing in the local property market. This may be because investors are weary of the low returns on their cash deposits and see the attractive returns from rental income as a smart alternative and/or because they believe that property prices can only increase and are therefore looking for capital appreciation.

Whatever the reason, it is always sensible to look at the alternatives available to you and consider some tax advice to minimise the tax burden in order to increase your investment return. Whilst Gibraltar does not tax capital gains and therefore any appreciation in property prices is pure profit, rental income is subject to income tax.

If you purchase a property in your name, any rental income will be taxed at your personal rate of tax. Depending on whether you are assessed under the Gross Income Based (GIB) or Allowance Based System (ABS), your marginal rate of tax could be as high as 28% or 40% respectively. If you have purchased the property through a trust, rental income will be taxed at 30%. If however, the acquisition of your investment property is structured through a company, any rental profit will be taxed at the rate of 10%.

It must be noted that should the company decide to distribute its profits and pay you a dividend then as a Gibraltar tax resident you will be taxed on the dividend income at your personal rate of tax, subject of course to the 10% company tax credit. If you happen to be a non-Gibraltar tax resident, the dividend will not attract any further Gibraltar tax. We would however advise that in such cases you seek professional tax advice in your own country of residence.

Any expenses incurred in connection with the rental income, such as property rates, service charges and property insurance are allowed to be deducted from the rental income in arriving at a figure for taxable profit.

Whilst the use of a company to hold your investment property may reduce your tax liability and if not reduce it, it will certainly delay it until a dividend is paid. It must be remembered that having a company will incur additional costs such as annual management fees, accounting fees and possibly tax advisors fees. An audit of the company would

30

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only be required if the company’s income is greater than £1million per annum, however there would be a need for an independent accountant to prepare a compilation report that will need to be filed with the income tax office every year that the company is in receipt of any taxable income, including rental income.

Whether purchasing a property in your own name, through a company or trust, you will also need to consider other costs such as legal fees, stamp duty, as well as costs in connection with the maintenance of the property.

The following table sets out the rates of stamp duty currently applicable in Gibraltar:

You may also wish to consider the option of bank lending as an alternative to self-funding. Whilst lending will naturally attract interest payments, these have the advantage of being tax deductible and as a result may further reduce your tax liability.

We recommend that you seek proper professional advice before embarking in such a venture to ensure that the risks and rewards are properly understood.

Charles A Bottaro PwC | Senior Manager Direct: +350 20066842 ext 302 | Tel: +350 20073520 Email: charles.a.bottaro@gi.pwc.com

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S PA N I S H S A L E S | Sp a n i s h Re s a l e s

Spain

Sotogrande

Sotogrande

32

R143-01148

R143-01269

SAN ROQUE

R143-00795

3 bedroom | 2 bathroom

3 bedroom | 3 bathroom

REDUCED TO SELL. A single storey south facing villa with views towards the Almenara and San Roque Golf Courses and the sea beyond. Ideal as an alternative to a spacious apartment for all-year living or a holiday home with an attractive garden with space for a swimming pool if required. Entrance hall with guest cloakroom, living room/ dining room with open fireplace and direct access to the terrace overlooking the garden. Master bedroom with a sitting/dressing room and en suite bathroom. Two further bedrooms with an adjoining bathroom. Fully fitted and equipped kitchen. Large double garage. Laundry patio.

Central heating.

A selection of two and three bedrooms luxury apartments “Alboaire Golf”in San Roque Club. The properties comprise bathrooms en suite and cloakroom, living/dining room, fully equipped kitchen, storage and terraces. Parking places, communal swimming pool and private/communal garden.

2 bedrooms from €444.550 3 bedrooms from €537.200

€390,000.00

€195,000.00

Sotogrande

143-01015P

Sotogrande

R143-01188

3 bedroom | 3 bathroom

3 bedroom | 3 bathroom

4 bedroom | 3 bathroom

A spacious first floor apartment overlooking the new marina. The living room with fireplace and also the main bedroom with en suite bathroom have direct access to the covered terrace. The two bedrooms at the rear of the apartment, one with an en suite bathroom, the other with an adjoining shower room, have direct access to a large rear terrace. The fully fitted and equipped kitchen opens onto the side terrace. Air conditioning/heating. Parking space. Store room. Community swimmimg pool.

A well cared for three bedroom three bathroom waterfront corner duplex penthouse with exceptional south facing sea views towards Gibraltar and Africa. The accommodation comprises, Living room opening onto a large south facing terrace, bedroom two, presently in use as a dining room with glazed doors to the terrace, with bathroom en suite. Well proportioned fitted kitchen with utility room. Master bedroom with en suite study and bathroom, stars to landing and bedroom three with en suite bathroom and door to a tremendous roof terrace which is a well stocked roof garden with total privacy and fantastic sea and river views. Included with the apartment is a garage space and basement storeroom intended for use as a maids bedroom with en suite shower

A well situated single storey detached villa with a separate one bedroom guest house and sauna. The property features a large lawned and very private garden with numerous palm trees.

Accommodation comprises:- Hall, cloakroom, fitted kitchen with granite worktops and glazed door to large breakfast patio, living room with open fireplace and glazed doors to a large conservatory which in turn opens onto a large terrace and gardens. Master bedroom with a range of built in wardrobes and bathroom en suite, two guest bedrooms which share a bathroom. Outside is a timber guest house comprising living/ bedroom, fitted kitchen, shower room and sauna. The villa and guest house have oil fired radiator central heating. Outside is a detached double garage.

€421,000.00

€585,000.00

€649,000.00

| www.bmi g roup.gi

S panish Resales | S PA NI S H S ALES

Sotogrande

R143-01256

Sotogrande

R143-01247

Sotogrande

143-01017P

4 bedroom | 4 bathroom

5 bedroom | 4 bathroom

3 bedroom | 3 bathroom

An exceptionally well situated first floor apartment with amazing south facing views over the mouth of the River Guadiaro, the Mediterranean Sea and Gibraltar and Morocco beyond, next to the Octogono Beach Club and the Tennis and Paddle Tennis Club. Providing good family accommodation with four bedrooms and four bathrooms (3 ensuite) and a guest cloakroom. The very spacious living room/dining room has direct access to the large terrace, part of which has been glassed-in, overlooking the river and the beach. The property requires up-grading and has been priced accordingly. Air conditioning/heating. Double Length Parking space. Two storerooms one smaller one and one larger with shower intended for use as an independent studio 5th bedroom or maids room.

A newly built contemporary style villa with a light and bright aspect and private lawned gardens. Solar assisted hot water, fitted kitchen, and sea views from the first floor. The property comprises five bedrooms between the ground and first floors, three of which are en suite.

A well located spacious three bedroom three bathroom terraced house a few steps from the tennis club beach club and beaches in a gated community with private community swimming pool in the Sotogrande inner marina. The accommodation comprises entrance hall, bedroom with built in wardrobes, bathroom, dining room opening onto the fitted kitchen which in turn has glazed doors opening onto a pergola terrace. The living room is on a lower level with open fireplace and glazed doors to the rear garden.

Stairs to landing where there are two bedrooms with bathrooms en suite and built in wardrobes, also a terrace which lends itself ideally to conversion to a 4th bedroom subject to planning.

€650,000.00

€850,000.00

€695,000.00

Sotogrande

R143-01019

Sotogrande

R143-01203

Sotogrande

R143-01042

3 bedroom | 2 bathroom

4 bedroom |3 bathroom

4 bedroom | 4 bathroom

A well located villa on the upper side of Sotogrande close to the Almenara Hotel and Golf Course with double aspect views north to the Valderrama Golf and south towards the San Roque Golf Club. On the ground floor is a living room with a dining area leading to a pergola covered terrace overlooking the garden and pool with good views towards Valderrama. There are also two bedrooms and a bathroom, a fully fitted kitchen and a guest cloakroom. On the top floor is the main bedroom with access to its own terrace, en suite bathroom and dressing area. Off street parking and a garage.

A well situated detached villa set in a large mature and very private garden. The property has been well maintained and offers excellent family accommodation which comprises:Hall, living room with open fireplace and archway to dining area with glazed doors to terrace. A large well appointed kitchen and utility room, three guest bedrooms, one with bathroom en suite the other two sharing a bathroom, Stairs to first floor where there is a large master bedroom with open fireplace and bathroom en suite. Outside is a large pool and barbeque area and garden store, a driveway leads to a large double garage with further storage room beside this fronts onto an area of garden with mature cork oaks.

A newly built four bedroom four bathroom villa with direct frontage to the La Reserva Golf Course. The property has been built in a traditional style but with an array on modern luxury features. The spacious accommodation has terracotta floors throughout, under floor heating, air conditioning/heating, alarm pre installation, Intelligent house (domotics) system to control house electronic systems remotely. Hardwood double glazed external windows and doors. The kitchen is fully fitted and equipped featuring silestone worktops.

€699,000.00

€725,000.00

€850,000.00

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S PA N I S H S A L E S | Sp a n i s h Re s a l e s

SOTOGRANDE

R143-00873

Sotogrande

R143-01197

Sotogrande

R143-00537

4 bedroom | 3 bathroom

6 bedroom | 5 bathroom

5 bedroom | 4 bathroom

A well located detached villa in the sought after established south side of Sotogrande with a large private south facing garden. The property has been well cared for by the present owners who have upgraded the kitchen and bathrooms.

Accommodation comprises: Hall with bathroom leading to a fourth bedroom. Living room with open fireplace and archways to dining room and patio doors to covered terrace and rear garden. Well fitted kitchen with door to large drying patio with access to the integral garage. Inner hall, two double bedrooms with built in wardrobes, bathroom with separate shower. Master bedroom with built in wardrobes and en suite bathroom with separate shower. Outside extensive mature lawned gardens with extensive terracing, swimming pool and covered patio area.

A large newly built modern style villa with large windows providing plenty of light and taking full account of the wonderful golf and lake views. The property provides spacious well appointed accommodation comprising entrance hall, a very large interconnecting living room with open fireplace and dining room with full height glazed doors to the patio and garden. Well fitted and equipped kitchen with breakfast area. Utility room. Large garage. Swimming pool. MASSIVE REDUCTION FOR QUICK SALE.

A spacious, modern Andalusian-style family villa within a large enclosed private plot and finished to a very high standard. The ground floor is arranged around a large central interior courtyard comprising entrance hall with cloakroom, a large living room with open fireplace and glazed doors to covered terrace and garden with large swimming pool. Study/dining room. Two bedrooms each with air conditioning and door to garden. Third bedroom with bathroom en suite and walk in dressing room. Second bathroom with bath and seperate shower. Fourth guest bedroom with en suite shower room.

€895,000.00

€895,000.00

€945,000.00

Sotogrande

R143-01238

Sotogrande

143-01017P

Sotogrande

R143-01019

4 bedroom | 4 bathroom

3 bedroom | 3 bathroom

3 bedroom | 2 bathroom

A superb and beautifully presented duplex penthouse in the sought-after Ribera del Río overlooking the River Guadiaro.

Spacious entrance hall leads into a large high ceilinged living room/dining room and fireplace with sliding doors onto a partly covered split-level terrace with private pool and spectacular south views over the river, Sotogrande and the sea beyond. Fully fitted and equipped luxury kitchen.

Staircase up to the master bedroom with dressing area and large ensuite bathroom with separate shower. Second bedroom with bathroom en suite. On the upper level is a very large roof terrace with jacuzzi.

A well located spacious three bedroom three bathroom terraced house a few steps from the tennis club beach club and beaches in a gated community with private community swimming pool in the Sotogrande inner marina. The accommodation comprises entrance hall, bedroom with built in wardrobes, bathroom, dining room opening onto the fitted kitchen which in turn has glazed doors opening onto a pergola terrace. The living room is on a lower level with open fireplace and glazed doors to the rear garden.

Stairs to landing where there are two bedrooms with bathrooms en suite and built in wardrobes, also a terrace which lends itself ideally to conversion to a 4th bedroom subject to planning.

A well located villa on the upper side of Sotogrande close to the Almenara Hotel and Golf Course with double aspect views north to the Valderrama Golf and south towards the San Roque Golf Club. On the ground floor is a living room with a dining area leading to a pergola covered terrace overlooking the garden and pool with good views towards Valderrama. There are also two bedrooms and a bathroom, a fully fitted kitchen and a guest cloakroom. On the top floor is the main bedroom with access to its own terrace, en suite bathroom and dressing area. Off street parking and a garage.

€950,000.00

€695,000.00

€699,000.00

34

| www.bmi g roup.gi

S PECIA L F EAT URE PR O P ERT I ES

SOUTH DISTRICT

SOUTH DISTRICT

SOU453

SOU475

Features:

• 4 Bedrooms • 2 Bathrooms • Balcony • Garden T • errace • Air Conditioning • Communal Swimming Pool • Close to amenities

£695,000

An exclusive development of five town houses situated in the upper hills of the South District. This private location offers spectacular views from all the properties together with generous terraces and gardens. The location is orientated towards the Bay and Strait of Gibraltar and is surrounded by green areas making for an idyllic living experience. Within the properties residents will enjoy hard wood flooring, modern high spec kitchens with high tech appliances, spacious living areas throughout as well as other features such as working fireplace, air-conditioning and separate utility room.

Features:

• 3 Bedrooms • 2 Bathrooms • Terrace • Close to amenities • Stunning views

£505,000

Spacious, bright and airy duplex apartment located in the south district of approximately 120m2 internally and 30m2 of terraces overlooking the Bay, Rock and Africa. This apartment provides on the 1st level a spacious family kitchen fully fitted and equipped, shower room, living/dining room leading to terrace with fitted awning. Downstairs level provides three bedrooms and main bathroom. Master bedroom leads to a stunning south facing terrace enjoying views as above in living/dining room. Includes integrated store room and lots of storage throughout.

Also provides a private parking space within the secure underground garage.

Viewing is recommended… don’t miss out on this viewing!!!

SOUTH DISTRICT

SOUTH DISTRICT

BVP005

BVP003

Features:

• 5 Bedrooms • 3 Bathrooms • Balcony • Terrace • Close to amenities

£475,000

A unique opportunity to purchase a five bedroom, three bathroom apartment located within this popular family orientated development in the south district. This property is fully renovated to a very high standard throughout and offers great views of the bay and Africa which can be admired on any of the two terraces. All bedrooms are spacious double rooms with two being ensuite. There is also parking facility, two stores and option to purchase a lock-up garage. Viewing is highly recommended.

Features:

• 4 Bedrooms • 4 Bathrooms • Garden • Terrace • Air Conditioning • Swimming Pool • Communal Swimming Pool • Communal Garden

£2,559,000

Set on the historic site of the Buena Vista Battery, this unique new development is a first for Gibraltar. Contemporary yet understated, it’s an exclusive collection of executive townhouses and detached villas with gardens, solariums and swimming pools. Investing in a Buena Vista Park Villas property makes perfect sense, from location to lifestyle. Continental views across to Africa and Europe with 300 days of sunshine each year. Unrivalled privacy and security in a gated community. And, of course the many tax incentives that Gibraltar offers, including a Category 2 residency status, designed for high net-worth individuals relocating to Gibraltar, no capital gains tax, no VAT or inheritance tax.

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35

S PA N I S H S A L E S | Sp a n i s h Re s a l e s

Sotogrande

Sotogrande

R143-01042

Sotogrande

R143-00537

4 bedroom | 4 bathroom

5 bedroom | 4 bathroom

A well situated detached villa set in a large mature and very private garden. The property has been well maintained and offers excellent family accommodation which comprises:Hall, living room with open fireplace and archway to dining area with glazed doors to terrace. A large well appointed kitchen and utility room, three guest bedrooms, one with bathroom en suite the other two sharing a bathroom, Stairs to first floor where there is a large master bedroom with open fireplace and bathroom en suite. Outside is a large pool and barbeque area and garden store, a driveway leads to a large double garage with further storage room beside this fronts onto an area of garden with mature cork oaks.

A newly built four bedroom four bathroom villa with direct frontage to the La Reserva Golf Course. The property has been built in a traditional style but with an array on modern luxury features. The spacious accommodation has terracotta floors throughout, under floor heating, air conditioning/heating, alarm pre installation, Intelligent house (domotics) system to control house electronic systems remotely. Hardwood double glazed external windows and doors. The kitchen is fully fitted and equipped featuring silestone worktops.

A spacious, modern Andalusian-style family villa within a large enclosed private plot and finished to a very high standard. The ground floor is arranged around a large central interior courtyard comprising entrance hall with cloakroom, a large living room with open fireplace and glazed doors to covered terrace and garden with large swimming pool. Study/dining room. Two bedrooms each with air conditioning and door to garden. Third bedroom with bathroom en suite and walk in dressing room. Second bathroom with bath and seperate shower. Fourth guest bedroom with en suite shower room.

€725,000.00

€850,000.00

€945,000.00

Sotogrande

36

R143-01203

4 bedroom |3 bathroom

R143-01238

Sotogrande

R143-01175

Sotogrande

R143-01253

4 bedroom | 4 bathroom

2 bedroom | 2 bathroom

1 bedroom | 1 bathroom

A superb and beautifully presented duplex penthouse in the sought-after Ribera del Río overlooking the River Guadiaro.

Spacious entrance hall leads into a large high ceilinged living room/dining room and fireplace with sliding doors onto a partly covered split-level terrace with private pool and spectacular south views over the river, Sotogrande and the sea beyond. Fully fitted and equipped luxury kitchen.

Staircase up to the master bedroom with dressing area and large ensuite bathroom with separate shower. Second bedroom with bathroom en suite. On the upper level is a very large roof terrace with jacuzzi.

A well proportioned bright first floor apartment with views towards the La Canada Golf Course a short walk from the Sotogrande Hotel and Mar y Sol commercial centre.

A spacious and well-presented first floor one bedroom apartment in Isla del Pez Volador, ideally situated next to the new Marina within a couple of minutes walk of Sotogrande beach, the Octogono Beach Club and the Tennis and Padel Tennis Club. Ideal as a holiday apartment or all-year-round living. The living/dining room leads to a covered terrace with views to the Marina and the canal surrounding the building. The well fitted and equipped kitchen has a serving hatch to the dining area. The bedroom has fitted cupboards and an adjoining marble-tiled bathroom. Air conditioning/ heating. Community swimming pool. Parking space. Store Room.

€950,000.00

€150,000.00

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The accommodation comprises:- Living room with open fireplace and glazed doors to a large terrace. A recently re fitted kitchen, two large double bedrooms each with en suite bathroom. New double glazed aluminium framed windows.

€185,000.00

S panish Resales | S PA NI S H S ALES

Sotogrande

R143-01185

Sotogrande

R143-00304

SOTOGRANDE

143-01016P

2 bedroom | 2 bathroom

2 bedroom | 2 bathroom

4 bedroom | 2 bathroom

A well situated south facing beachside apartment. The property has views to the beach and has been well cared for by the present owners who have had the property since new. Accommodation comprises :- Hall, living room with glazed doors to terrace, master bedroom with bathroom en suite, fitted kitchen, second bedroom with en suite shower. Garage space. Air conditioning/heating.

An excellent South facing penthouse in the Marina, in superb condition with two bedrooms, two bathrooms (main bathroom en suite is new) and new kitchen.

Magnificent south views over the Marina towards Gibraltar and Africa. Features include:- Airconditioning / heating and polished marble tiled floors. Administrative concession : 44 years remaining approx.

A well cared for terraced villa in an established development in the heart of Sotogrande. The accommodation comprises a large living room with marble tiled floors and glazed doors opening onto the terrace and garden. Fitted kitchen with utility terrace. Cloakroom. Integral garage. Stairs to landing, master bedroom with built in wardrobes, en suite terrace overlooking the garden and en suite bathroom. Three further guest bedrooms. Second bathroom. Community facilities include community swimming pool and tennis courts.

€195,000.00

€1,120,000.00

€285,000.00

SAN ROQUE

R143-01071

Sotogrande

R143-01231

SOTOGRANDE

R143-01267

3 bedroom | 2 bathroom

3 bedroom | 3 bathroom

4 bedroom | 3 bathroom

A well established beautifully maintained detached villa situated a short distance (approx. 3 kms) from Torreguadiaro and Puerto Sotogrande on a mature residential estate of similar properties. The property features a private walled garden and lovely southerly views from the first floor to the sea, Gibraltar and Africa. Accommodation comprises :- Entrance hall and a well fitted dark oak kitchen with granite worktops. Spacious living/dining room with marble tiled floors and open fireplace and a lovely sea view, conservatory area with glazed doors to pool and garden.

Inner hall serving two large double bedrooms with built in wardrobes sharing a bathroom, stairs to landing and large first floor master suite with en suite bathroom and glazed doors to a large roof terrace with lovely sea views.

A three bedroom marina apartment with outstanding views from its frontline corner location across the moorings and out to sea. The property offers spacious accommodation comprising three double sized bedrooms with new wood flooring and built in wardrobes, three marble tiled bathrooms, fitted kitchen and a spacious bright living room opening onto a large covered terrace overlooking the marina. Air conditioning/heating.

A spacious newly built contemporary style villa with south facing views across the Almenara and San Roque Golf courses. The property is situated in a quiet cul-de-sac in an established road. It has a bright and airy feel with views from most rooms and a high level of privacy. The accommodation comprises:- Double height entrance hall, living room opening onto the terrace with a large plunge pool, the living room is seperated from the open plan kitchen/dining room by a double fronted fireplace.

Two double bedrooms with dressing areas and en suite bathrooms, stairs to upper floor with master bedroom opening onto a large terrace, bathroom en suite.

€350,000.00

€795,000.00

€1,200,000.00

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37

S PA N I S H S A L E S | Sp a n i s h Re s a l e s

Sotogrande

SAN ROQUE

R143-01244

Sotogrande

R143-01067

4 bedroom | 3 bathroom

4 bedroom | 4 bathroom

A newly built spacious four bedroom four bathroom villa with views to Almenara and San Roque golf courses. The accommodation is spread over three floors. The entrance level and middle floor comprises:- hall, cloakroom, door to integral double garage, large well fitted kitchen with utility room. Adjoining dining room and living room with open fireplace with glazed patio doors opening onto a large covered terace leading to the pool and gardens. Double bedroom with en suite bathroom with separate bath and shower.Stairs lead down to a lower hall with fitted cupboards and walk in storerooms. The large guest bedrooms both with en suite bathroom with separate shower.

A beautifully presented front-line golf villa in the San Roque Club. Approached through a driveway, the spacious entrance hall leads to an attractive living room with an open fireplace and direct access to a covered terrace overlooking the garden, swimming pool and the golf course. Leading off this room, at one end is a separate dining room and a study/ bedroom 4 off the other, both overlooking the garden. The excellent kitchen is fully fitted and equipped with a spacious dining area. There are a further two bedrooms and a bathroom on the ground floor.

A superbly situated four bedroom four bathroom penthouse duplex apartment with a south facing aspect with outstanding views across a wooded valley. The tremendously spacious accommodation comprises a double height entrance hall, with guest cloakroom, leading to the large living room / dining room with open fireplace and glazed patio doors to the extensive partly covered terrace. Well fitted kitchen / breakfast room opening onto the large terrace, utility room with drying terrace. Master bedroom with a large en suite bathroom with separate shower, dressing area with built in wardrobes, glazed door to a south facing terrace and glazed doors to main terrace.

€1,100,000.00

€1,150,000.00

€1,200,000.00

Sotogrande

38

R143-00887

4 bedroom |4 bathroom

R143-01211

Sotogrande

143-01006P

Sotogrande

R143-00600

8 bedroom | 7 bathroom

9 bedroom | 7 bathroom

4 bedroom | 4 bathroom

A substantial detached villa with panoramic sea views across Sotogrande. The property is centrally situated in the lower part of Sotogrande Alto. The spacious accommodation comprises :- Entrance hall, large living/dining room with lovely views leading onto a large raised terrace overlooking the pool and gardens. The spacious accommodation in the main house offers four bedroom suites, in addiction to the superb master suite with dressing area and terrace, access to ample open and covered terraces. Large fully fitted kitchen/family room with fireplace leading to the laundry and drying area.

Highly recommended. A very private and charming villa on a double plot situated in an established sought after area with a beautiful landscaped garden with many trees. Built around a central Andalucian patio, the accommodation comprises on one side of the patio a guest cloakroom and one bedroom with en suite bathroom. On the other side another bedroom with an en suite bathroom. Also the kitchen and a drying patio and steps down to the basement with a laundry room plus 2 service bedrooms and one bathroom. The large galleried living room with open fireplace has direct access to a very spacious covered terrace and the dining room with an outside covered dining terrace.

A stunning Moroccan style house which has been designed in an L-shape with every care and attention to the smallest of details and located in a quiet street bordering a green zone in Sotogrande Alto. The tower high ceilinged entrance hall leads to one wing with a large living room with a fireplace and a domed ceiling cupola room and the master bedroom suite with a walk-in closet. Also a large utility room/storage room which could easily be transformed to a different use.

The other wing has a large dining area/family room with a fireplace and a fully fitted kitchen. There is also a sitting area/TV room off the family room and a second bedroom suite.

€1,250,000.00

€1,850,000.00

€1,400,000.00

| www.bmi g roup.gi

S PA N I S H S A L E S | Sp a n i s h Re s a l e s

Sotogrande

SOTOGRANDE

R143-01066

Sotogrande

R143-01133

6 bedroom | 4 bathroom

4 bedroom | 4 bathroom

A unique and very spacious family villa on an elevated plot with great views towards the San Roque Golf Course. The very large open plan entrance hall incorporates a dining hall, a breakfast area and a fitted bar, leading to a very spacious conservatory overlooking the pool and garden, all this ideal for all year round entertaining. The double height living room with a full height picture window bringing in an abundance of light has a mezzanine gallery. The master bedroom suite with direct access to the garden has two en suite shower rooms with an interconnecting dressing room and an adjoining TV room. There is a guest bedroom with an adjoining bathroom and a further bedroom at present used as an office.

A beautifully presented south facing family villa with six bedrooms, four bathrooms and a cloakroom, set in a mature garden, in a well established area of Sotogrande Alto close to the Valderrama and La Reserva Golf Courses. The entrance hall with guest cloakroom, leads into a high ceiling living room with open fireplace, a dining room and an excellent large fully fitted kitchen and breakfast area. Off the kitchen is an utility room and store room and a maid´s bedroom with ensuite shower room. On the ground floor, there are two bedrooms and a bathroom, a sitting room with fireplace, kitchen and dining area which could be used as a self contained apartment with separate entrance.

A well appointed villa with views towards the Almenara golf course. The accommodation is on two floors served by an elevator. Accommodation comprises, hall, Living room with open fireplace and glazed doors to terrace and garden, separate dining room, well appointed fitted kitchen with door to covered terrace and elevator access, Guest bedroom with en suite bathroom, Integral double garage. Stairs to landing, two guest bedrooms with en suite shower rooms and the master bedroom with a large en suite bathroom including a steam room, elevator access and en suite terrace. Outside there is an extensive parking area, in addition there is a second lower garage with elevator access and to the rear is a swimming pool. The property has air conditioning/heating.

€,1,500,000.00

€1,550,000.00

€1,600,000.00

Sotogrande

40

R143-01217

4 bedroom |4 bathroom

143-01023P

Sotogrande

R143-01262

Sotogrande

R143-00085

5 bedroom | 5 bathroom

4 bedroom | 4 bathroom

6 bedroom | 5 bathroom

A beautifully presented family villa with all the accomodation on one level and a very large underground garage, bordering the Valderrama Golf course, on the lower side of Sotogrande Alto. The spacious entrance hall leads into a large, high ceilinged drawing room with open fireplace and archway into a spacious dining room and sitting room with direct access to the mature and flat garden backing onto the golf course. The spacious fully fitted kitchen has a separate breakfast room and steps down to the basement garage. Leading from the kitchen is a maid´s bedroom and bathroom, also a service patio. The master bedroom suite has a dressing area with fitted cupboards and a spacious en suite bathroom with separate shower. T

New on the market. A charming Andalucian style villa in a quiet established area of Sotogrande Costa. The villa has been sympathetically added to by the present owners over recent years. Backing onto the Guadalquiton cork forest the property has a high level of privacy, almost a rural feel for a property so close to the sea. The well appointed accommodation comprises. A cortijo style walled entrance patio, spacious entrance hall, tv room/snug with open fireplace, a dining room with glazed doors to a large covered dining terrace, Well fitted kitchen with central island and door to a large utility room, formerly a fifth bedroom with bathroom en suite. Living room, an attractive feature of the property and a more recent addittion with elevated ceilings, plenty of light and space.

€1,750,000.00

€1,850,000.00

A superb family villa built circa 1988 by a highly respected architect in the ever popular “Kings & Queens” close to the Royal Sotogrande Golf Club, the Cucurucho Beach Club and the Polo Club. The spacious entrance hall with guest cloakroom, leads into a large drawing room with open fireplace and direct access to the dining room, leading to a fully fitted and equipped kitchen with a breakfast area, plenty of storage cupboards and an utility area. In one wing of the villa, there are four bedrooms and three bathrooms (2 ensuite) and a family sitting room. Close to the kitchen, is a further guest or maid´s bedroom with en suite bathroom.

On the top floor is a very large main bedroom suite with two spacious dressing rooms, large bathroom with separate shower, a sitting room/study and a roof terrace.

| www.bmi g roup.gi

€3,500,000.00

S panish Resales | S PA NI S H S ALES

Sotogrande

R143-01265

Sotogrande

R143-01091

SOTOGRANDE

R143-01161

7 bedroom | 6 bathroom

5 bedroom | 4 bathroom

6 bedroom | 6 bathroom

New on the market. A superb and well presented family villa in Sotogrande Costa within walking distance of the Royal Sotogrande Golf Club, the Cucurucho and Octogono Beach Clubs and the tennis and padle tennis courts. Ideally located, this property has accomodation arranged on two levels with a spacious entrance hall leading to the living room with open fireplace overlooking and with direct access to the large covered terrace and the flat garden mainly laid to lawn. The fully fitted and equipped kitchen is open plan to the dining room with access to the covered terrace. The large bedroom/study has an ensuite shower room/cloakroom.

A charming and spacious single-storey family villa situated in a much sought-after location in Sotogrande Costa set in a mature and attractive garden with mature trees and plants.

Approached through a spacious entrance hall is a large drawing room with fireplace overlooking the attractive garden with an ornamental lily and fish pond and terraces, ideal for entertaining. The dining room leads to a new large fully fitted and equipped kitchen with dining area and a separate utility room and a guest cloakroom. There are three guest bedrooms and two bathrooms and a master bedroom with sitting room with fireplace. There is also a separate studio with a shower room, ideal for guest or staff accomodation.

Amenities include a heated salt water swimming pool, a garage and ample off-street parking. Alarm system.

A unique and spacious family villa set in a very attractive tropical garden backing on to a green zone with mature trees providing a very peaceful setting. The entrance hall leads to a spacious living room, with open fireplace and terrace overlooking the garden, and a separate dining room with two terraces. The large fully fitted and equipped kitchen has a dining area and a log burner making it a cosy family room. There are two bedrooms, one with a terrace and two en suite bathrooms. On the first floor is the large master bedroom with a terrace and a walk-in dressing area and an en suite bathroom. There is a further enclosed area on this floor which could be converted into extra bedrooms or a large family room.

€2,500,000.00

€2,100,000.00

Sotogrande

R143-00666

Sotogrande

R143-01151

€2,500,000.00

SOTOGRANDE

R143-01090

4 bedroom | 4 bathroom

1 bedroom | 1 bathroom

5 bedroom | 7 bathroom

A superbly appointed newly constructed 4 bedroom, 4 bathrooms villa situated in a quiet established cul-de-sac.

Fully fitted kitchen/breakfast room and utility room. The property incorporates a ground floor guest suite comprising sitting room, kitchen, cloakroom, bedroom and bathroom.

The ground floor 4 accommodation comprises hall, living room and dining room opening onto a large covered terrace and the pool room comprising a 12,3 x 7 m. heated pool with pool shower room. To the first floor is the landing and 3 very large bedrooms with en suite bathrooms. The master bedroom has a dressing room and jacuzzi bath. Top quality marble flooring throughout, solar assisted hot water and water softener, air conditioning etc...

A refurbished south orientated studio apartment on the second floor in the popular Sotogrande Marina. An excellent kitchenette has been installed and there is an en suite bathroom with a washing machine. Seconds away from all the Port amenities, restaurants and shops and the Torreguadiaro beach. Ideal as a pied a terre and rental investment.

A new villa in the exclusive Altos de Valderrama estate.

The property is being finished to a high standard by an established local building contractor, the very spacious and highly specified accommodation comprises:- Granite paved driveway to a large integral three car garage. Entrance porch, double doors to double height entrance hall with cloakroom, living room with open fireplace and glazed patio doors to its full length opening onto an extensive south facing wrap around covered terrace,, television/family room with open fireplace and glazed doors to the terrace, dining room with glazed doors to terrace, large kitchen dining room ready for furnishing, service bedroom with en suite shower, laundry room., two large guest bedrooms each with built in wardrobes and large en suite bathroom.

€2,750,000.00

€99,000.00

€3,500,000.00

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41

Residential Mortgage Rates – Gibraltar New Business and Equity Release only Rates correct as at 01/10/2013a

THESE RATES ARE FOR NEW BUSINESS ONLY. EXISTING CUSTOMERS LOOKING TO SWITCH PRODUCTS, OR ON PRODUCT MATURITY, MAY BE OFFERED DIFFERENT RATES AND FEES TO THOSE SHOWN HERE. PLEASE CONTACT THE BANK FOR FURTHER INFORMATION.

Product Name

Initial Ratec

4.03%

End Date

Follow on Ratec (variable)

Overall cost for comparison

Product Feee

Minimum loan

29/01/2016

4.00%

4.2% APR

0.10% of loan amount (min £999)

£30,000

3% until 29/01/2016

5.2% APR

0.10% of loan amount (min £999)

£30,000

5% year 1, 4% year 2, 3% remainder of term

£50,000

3% until 31/01/2017

n/a

Early Repayment Charged

Residential new borrowing range Maximum 60% Loan to Value

b

2 Year Fixed Rate 5 Year Fixed Rate

5.03%

3 Year Base Rate Trackerf (Base + 3.19%) b Maximum 75% Loan to Value

31/01/2019

4.00%

3.69%

31/01/2017

4.00%

4.1% APR

0.10% of loan amount (min £999)

Foundations - Base + 4.59f (variable) Maximum 80% Loan to Valueb

5.09%

n/a

n/a

5.3% APR

1% of borrowing limit

£100,000

2 Year Fixed Rate

4.73%

29/01/2016

4.00%

4.9% APR

0.10% of loan amount (min £999)

£30,000

3% until 29/01/2016

5.9% APR

0.10% of loan amount (min £999)

£30,000

5% year 1, 4% year 2, 3% remainder of term

5 Year Fixed Rate 3 Year Base Rate Trackerf (Base + 3.54%)

Product Name

5.64%

31/01/2019

4.04% Initial Ratec

Follow 31/01/2017 on4.00% Ratec End Date (variable)

4.00%

Overall 4.2% cost APR for comparison

0.10% of loan amount (min £999)

Product Feee

£50,000 Minimum loan

3% until 31/01/2017

Early Repayment Charged

YOUR HOME PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Residential equity release rangeOR (existing customers only) The Royal Bank of Variable Scotland International Limited trading as NatWest (NatWest). Registered Office: PO Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey, JE4 8PJ. Regulated by the Jersey Financial Services Commission. Business address: PO Box 11, 16 Library Place, St Helier, Jersey, JE4 8NH. Standard (max. £25,000) NatWest is the registered business name of The Royal Bank of Scotland International Limited (RBS International) under the Business Names Registration Act. Gibraltar business address: National Westminster House, PO Box 707, 57 Line Wall Road and 1 Corrall Road, Gibraltar. Regulated and authorised by the 4.1%APR 4.00% n/a n/a £295 £5,000 n/a Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 57 and 55 Line Wall Road, Gibraltar. Over 18’s only. Security required. YOU SHOULD CHECK THAT EQUITY RELEASE AND BULLET REPAYMENT MORTGAGES WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR b Maximum 60% to Value SELL YOUR HOME OR YOULoan WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE. APR stands for Annual Percentage Rate and is an interest rate which takes account of the full amount of interest on any money borrowed plus the timing of repayments and any other charges that you have to pay. It may not take into account any reduction in interest rate following the maturity of the initial product. The frequency of the interest payments, for example monthly or quarterly, affects the calculation.

2 Year Fixed Rate

4.03%

29/01/2016

4.00%

4.1% APR

£495

£25,000

5 Year Fixed Rate

5.03%

31/01/2019

4.00%

5.2% APR

£495

£25,000

3% until 29/01/2016 5% year 1, 4% year 2, 3% remainder of term

3 Year Base Rate Trackerf (Base + 3.19%) b Maximum 75% Loan to Value

3.69%

31/01/2017

4.00%

4.1% APR

£495

£25,000

3% until 31/01/2017

5.09%

n/a

n/a

5.3APR%

1% of borrowing limit

£5,000

n/a

2 Year Fixed Rate

4.73%

29/01/2016

4.00%

4.9% APR

£495

£25,000

3% until 29/01/2016

5 Year Fixed Rate

5.64%

31/01/2019

4.00%

5.8% APR

£495

£25,000

5% year 1, 4% year 2, 3% remainder of term

4.04%

31/01/2017

4.00%

4.1% APR

£495

£25,000

3% until 31/01/2017

f

Foundations - Base + 4.59% (variable) Maximum 80% Loan to Valueb

f

3 Year Base Rate Tracker (Base + 3.54%)

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

The Royal Bank of Scotland International Limited trading as NatWest (NatWest). Registered Office: PO Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey, JE4 8PJ. Regulated by the Jersey Financial Services Commission. Business address: PO Box 11, 16 Library Place, St Helier, Jersey, JE4 8NH. NatWest is the registered business name of The Royal Bank of Scotland International Limited (RBS International) under the Business Names Registration Act. Gibraltar business address: National Westminster House, PO Box 707, 57 Line Wall Road and 1 Corrall Road, Gibraltar. Regulated and authorised by the Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 57 and 55 Line Wall Road, Gibraltar. Over 18’s only. Security required. YOU SHOULD CHECK THAT EQUITY RELEASE AND BULLET REPAYMENT MORTGAGES WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE. APR stands for Annual Percentage Rate and is an interest rate which takes account of the full amount of interest on any money borrowed plus the timing of repayments and any other charges that you have to pay. It may not take into account any reduction in interest rate following the maturity of the initial product. The frequency of the interest payments, for example monthly or quarterly, affects the calculation.

42

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Law Firms

Isolas +350 200 78363 info@isolas.gi www.gibraltarlawyers.com Triay Stagnetto Neish +350 200 79423 tsn@tsnlaw.com www.tsnlaw.com Triay & Triay +350 200 72020 www.triay.com Verralls +350 200 47252 www.verralls.gi

Company Managers Fiduciary Management Ltd +350 200 76651 fiduciary@fiduciarygroup.com www.fiduciarygroup.com

Banks

NatWest +350 200 77737 www.natwestoffshore.com Barclays Wealth Corporate Banking +350 200 41222 Personal Banking +350 200 78565 gibraltar@barclayswealth.com www.barclayswealth.com

Directory

Useful Links

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AKS +350 200 73260 www.aks.gi

Law Firms

PWC + 350 200 73520 www.pwc.gi

Insurance

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43

Built on solid foundations A full service international law firm, offering tailor-made services and advice to help you meet your objectives, since 1892 For further information contact: info@isolas.gi Portland House Glacis Road PO Box 204 Gibraltar Tel +350 2000 1892 www.gibraltarlawyers.com