I am assuming that Richard or the Committee will have arranged for copies of the Surveyor's and Structural Engineer's Reports to be distributed to Owners PRIOR to the AGM and not assume that an Accountant's opinion on the viability of Refurbishing this old substandard block of studio apartments will suffice. Without a proper survey being carried out both on viability and costings, LRHC could end up pouring every single penny of the monies 'ring fenced' for 'Refurbishments' into this one Block, which appears to be earmarked for future 'short stays'. Thus delaying even further by many years the Refurbishment of larger Units.
In my personal opinion it would make much more financial sense to have SOLD this block, for the substantial sum of money offered, Apt Owners being compensated with Refurbished Larger Units, thus allowing an immediate cash injection into the Refurbishment Programme for it to proceed at a greater speed and many more owners to have benefited. Why this option has NOT been offered as an option for Owners to vote on by the Committee is indeed puzzling, particularly as Owners are being asked to contribute to even more 'ONE OFF PAYMENTS' for the next FIVE YEARS.
The Club owns far too many weeks, and selling the Apt block would in one stroke immediately reduce the number of weeks owned and make redundant the need for further 'One off payments'. It just feels as if we are being asked to pay for the Refurbishment of Apts for 'Short stay lets' yet this is a Time Share Club and NOT a Hotel.
Ronnie