Payment Terms:
A deposit of 20,000 is payable on the execution of a reservation form which is fully refundable.
On receipt of the signed reservatrion form the developers will forward you the Master and Lease Agreements. You are required, within 21 days to review and execute both agreements. During this time a further 25 % of the Leasehold Purchase Price (less Bt.20,000) will be payable.
On execution of both agreements, the developer will arrange to hold the funds in Escrow until such time as all conditions precedent are met. Should the conditions precedent not be met, the 25 % deposit will be refunded in full.A further deposit of 25% of the Leasehold Purchase Price is payable within 21days of receipt of notice from the Landlord that the conditions precedent have been fulfilled.
The final payment of 50 % of the Leasehold Purchase Price is due and payable just prior to the registration of your lease.
Frequently Asked Questions:
• What is The Plantation?
A =>. The Plantation is a discreet private estate being developed by Pacvest Group. The development will contain 33 luxury condominium apartments (known as The APARTMENTS), 17 spacious terraced apartments (known as The TERRACES) and 19 villa lots (known as the VILLAS LOTS) overlooking the ocean and coastline of Kamala Bay on a 21 acre (44 mi) site. The project is 15 minutes from the main shopping and entertainment center of Patong Beach and only 20 minutes from Phuket International airport.
• Who is Pacvest Capital ( Thailand ) Limited?
A. => Pacvest Capital ( Thailand ) Limited is a respected and experienced development management company. The company has been associated with some of the most successful residential properties in Thailand , including Somkid Gardens and Saladaeng Colonnade in Bangkok and Katamanda in Phuket.
• What is the title and status of the land?
A. => The land is Chanote titled and is owned by Plantation Holdings Limited, a Thai registered company. The land on which The APARTMENTS are being developed will be transferred to the owners of The APARTMENTS (the Condominium Juristic Person) and controlled by that body. The land on which The TERRACES and The VILLAS LOTS are located will be owned by an entity controlled by owners of The VILLA LOTS and The TERRACES.
• Can I own freehold rights?
A. => The Apartments can be owned freehold by foreign nationals, subject to certain restrictions on the number of such ownerships per building. The APARTMENTS at The Plantation will be sold with a choice of freehold, condominium title or leasehold title, as long as the restrictions referred to above are complied with Foreign nationals however cannot own freehold The VILLAS LOTS or The TERRACES under current Thai law. This situation may be subject to change or amendment in the future, but this is unlikely in the short term . Land can however be leased to foreigners for 30 years which is the longest permissible period under Thai law. In the leases for The Plantation Villa Lots and The Terraces two prepaid extensions of 30 years are included. The initial lease is registered with the Land Department and noted on the title deed. Thus you are fully protected under Thai law.
• Should my Villa Lot or Terrace lease be registered in my name or in the name of a company?
A. => We recommend that you talk to legal and taxation advisors on this matter.
• Will The Apartments and Villas be owned under a leasehold title?
A. => A foreign national may own buildings or property developed on land leased by him. Therefore you can own your own villa on your leased VILLA LOT. Subject to the restrictions referred to above, The APARTMENTS can be owned either freehold or leasehold. The TERRACES may only be owned leasehold.
• How would I go about having my villa designed and built?
A. => The developer's architects have designed 2, 3 and 4 bedroom villas reflecting the best aspects of tropical living. These designs are available at no cost to you. Our recommended contractor is able to provide quotations and construction services to build and fit out these villas to the highest standard and most competitive cost.
• Are villa designs by independent architects permitted?
A. => Yes. However, there are lot and design guidelines that set out and ensure that The Plantation is harmoniously developed. Within these guidelines your neighbours' views and privacy are respected and design issues resolved.
The developer can also introduce its design team to you who are familiar with the project and local regulations. This will enable you to create a custom-designed villa reflecting your personal tastes.
• How are my rights as a villa lot tenant protected against future actions of the Landlord Company?
A.=> Ultimately The VILLA LOT landlord company will be controlled by The VILLA LOT and The TERRACES tenants. This legal structure, which will be fully effected under Thai law, will prevent any detrimental action by the landlord company. These provisions are set out in the Master and Lease Agreements.
• Many projects in Phuket appear to have very little infrastructure and facilities for residents. Is this the case at The Plantation?
A. => The Plantation has been designed and master planned by professional consultants to ensure quality infrastructure is installed. The details of the project team are set out in the sales kit. Resident's facilities will include a spacious reception area, a fully equipped clubhouse, swimming pool, and management staff facilities.
• What estate management will be provided and what will it cost?
A=> CB Richard Ellis, Thailand 's premier property manager, has been appointed to professionally manage the estate and to appoint a resident manager to run the day to day operations. They will provide maintenance for the communal areas and recreation facilities. The cost to residents will be calculated based on a monthly fee covering all communal expenses. There will also be a sinking fund established to provide for any major works that may be required.
• Do the estate management expenses cover the upkeep of my Apartment, Terrace or villa?
A.=> No. The maintenance and staffing of your APARTMENTS, TERRACES or VILLAS are your responsibility. If you wish to have resident staff, monthly wages are not high. All maintenance, staff, laundry and other services will be available to you at commercial rates.
• Can I rent out my apartment or villa?
A. => Yes. Should the estate residents require it the Estate Management Company could establish vacation rental facilities. There is considerable demand for luxury rental apartments and villas in Phuket. This market demand has hardly been tapped and returns could be very attractive to owners. The Estate Management Company would then look after all aspects of the management and marketing of your apartment or villa. Operational costs and fees for these services will be charged at commercial rates and deducted from the rental income received
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