WORLD PROPERTY CHANNEL ®

Village at Town Center condos, Davenport, FL

(OXFORD, ENGLAND) -- Property Frontiers, a six-year-old real estate investment advisory firm in southeast England, is telling its international clients "the whole of Florida is currently a hot bed of foreign buyer activity."

The company claims it represents properties worldwide and posts their offerings daily on its web site.

Without citing specific sales volume, Property Frontiers director and co-owner David Cox states "Florida property is currently presenting some of the biggest bargains that the world of overseas property has even seen."

Cox says "quality properties (in Florida) are like gold dust, with the best ones selling without hardly any marketing."

In his company's latest release, Cox touts the low profile, nine-year-old, 94-unit Village at Town Center residential condominiums at Davenport, FL as "one of the best developments I have seen in terms of value for money."

David Cox

Davenport, in Polk County, is 10 miles south of Walt Disney World and about 30 minutes south of Downtown Orlando.

Cox says starting prices are $54,900 for a one-bedroom unit.  The property offers two-bedroom and three-bedroom condos but Cox didn't cite their asking prices.

He claims the units are 70 percent below market value and 50 percent below replacement value.  The condo community is 91 percent occupied, according to Cox.

"The development's investment potential, which offers 100 percent capital appreciation, not including the 10 percent annual yield from rentals, sounds unbelievable, but it isn't" says Cox.

He says, "When it comes to the yield, currently one bedroom condos near Disney rent for about $480 (per month)."  Cox adds, "With 100 percent occupancy, a 10 percent yield is achieved on (the purchase of) a one-bedroom" unit.

He notes the Village condos rent for $105 per week.  "Times that by four for quickness, means a quarter of the occupancy is needed, which is 25 percent occupancy and easily achieved on a condo near Disney World."

Cox states, "When it comes to buying distressed property in (metro) Orlando, you don't need to look very hard to see that it will go back to the original value not long after the world has fully recovered from the current downturn, and once all the distressed sales and repossessed properties are gone."

Privately held Property Frontiers was founded in 2004 and has 20 employees, according to its web site. The principals include Cox and Ray Withers as owners and directors: Nadya Boynton, property consultant; Ben Jefferis, consultant sourcing manager; and Christopher Chadd, project manager.

 

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