Beating a retreat from Buenos Aires

We fly to Argentina to visit Landcorp International's Buenos Aires development, La Providencia.

Living in Central London, it’s sometimes easy to forget the meaning of space. Seeing the endless miles of the barren Patagonia steppe stretch out as we fly from El Calafate to Buenos Aires, serves as a timely reminder that great swathes of this planet remain uninhabited by man, beast or tree.

Not so in Buenos Aires, where a hustling, intense metropolis acts as the focal point for an entire nation. It’s a city packed full of culture, cuisine, cars and concrete in more or less equal measure; the economic hub through which everything in Argentina passes.

It’s far from a sleepy town and not without its risks to those inhabiting the upper echelons of the city’s population. Just as many of London’s elite move to Surrey’s Stockbroker Belt, or New York’s high fliers take refuge in the Hamptons, there are those in Buenos Aires who are looking for a calmer, safer and more rounded existence than is offered by city life.

Increasingly, they are finding it in places like La Providencia.

The Road South…

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To the South of Buenos Aires, it is the same road that takes travellers into the city from the international airport that allows city folk to escape to their new suburban refuge. Out past the training camp for the Argentinian FA, where Lionel Messi can sometimes be found preparing with his team mates, billboards start springing up advertising plots, condos and villas direct from developers and agents who have been quick to seize upon the opportunity.

A little more than 3km off the main road, La Providencia is by far the most impressive. The works on the main access road – which is currently being doubled in width, will ease journey times for the new breed of commuter, who travel daily into the city from the peaceful sanctuary of their country club homes.

An Impressive Entrance

On arrival at La Providencia, all visitors must pass through a beautiful gated entrance, with nicely kept flower beds and friendly but diligent security. Driving through the huge estate, the golf course is peppered with huge villas, all on spacious plots and many bearing signs showing the architect responsible for the wonderful designs.

A Leisurely Lifestyle

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La Providencia is set over 264 hectares of land, a large tract of which is dominated by the golf course, maturing nicely under the watchful eye of the imposing elevated clubhouse. 9 holes are already open and the other 9 will open in November, ahead of a tournament being staged by the PGA of Argentina. Residents will pay around $10,000 USD for lifetime membership and the privilege of bringing guests to play on the course.

Other sporting pursuits are also well-catered for at the club. There are 2 huge lagoons, where boating and kayaking are encouraged, but engine-powered boats are forbidden in order to preserve the tranquillity of the environment.

There are 4 polo fields, making the country club one of the best-equipped in the area for this most glamorous of pursuits. Polo aficionados can mingle with tennis-lovers, who are equally well-served – there’s a dedicated tennis clubhouse and some first-class clay courts (complete with a sizeable spectator area).

Phase I Sales Update

Most of the plots in first phase have now been sold and it is projected that this part of the development will be complete in 2018 (after starting in 2011). The marketing has followed a traditional path among developers in the region – newspapers, billboards, sporting events at the facilities – as well as some of the more modern channels such as Google, Facebook and email databases.

As expected, the majority of buyers come from Buenos Aires, with around 70% coming to live here full time – entrepreneurs in business, people wanting a sporty lifestyle and those for whom the convenience to the international airport is a major plus.

Around 20% are weekend users, with roughly 10% buying for speculation or investment. In a country where currency fluctuations can be volatile, land is often seen as a reliable and stable investment compared to some of the other available options.

Next Up: The Mediterranean Village

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The next stage of the development is the establishment of a Mediterranean village in the heart of the estate. This will see nearly 200 houses built in a colonial-style, with a 3000m2 swimming pool and sand beach as the focal point. While the smaller properties are likely to appeal to the older generation, the new school to be added to the site shows that the target demographic includes younger parents as well.

The Investor Opportunity

Landcorp International are offering investors a structure 2 or 3 year fixed-exit opportunity, with up to 48% returns. This is based on the acquisition of land plots, which provides the developer with additional funding to accelerate the development programme, thereby adding value to the land and allowing plots to be resold to end-users at a higher value.

The model is working. The owners have recently acquired an adjacent site, which is even bigger – around 400 hectares in total. The plan for the site involves the gradual release of more than 700 additional plots, as well as a hotel, commercial centre, stables and much more.

Prospective clients who wish to find out more about land investment opportunities in Argentina can contact Kevin Prior at Landcorp International, on 0871 218 3002 or +34 952 868 250.

Further information can also be found at www.landcorpinternational.com

 
 

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