I have a unit invested in this development - due for completion feb '09 which I visited a couple of weeks back. I have to say it's of good quality and the immediate area does look to hold significant potential.
A small point - but the PS prospectus made clear reference to a gym within the complex. This to me looked to be a nice point of difference for the professional rental market. I chatted with the developer who are stating that whilst the developer will create the space - there are no plans to include a gym.
Are any other investors of the view we should press for the delivery of this per the original prospectus?

Is it not the case that the developer is providing commercial space and had a gym lined up to take over some of that space, not that they were providing a gym themselves?

I'm asking, not telling, but I seem to recall Avenium had commercial ground floor space?

Hang on...I'll go look it up...

...ok, there is a fitness centre mentioned as being free to residents, within the commercial area (shops, restaurant also) but no mention that it is being supplied by the developer.

I would guess that the fitness centre company had agreed to take up some commercial space and offer free access to residents for a reduced cost. And may now have pulled out due to the current climate. But I don't know.

What do you think?

Hello Ben
I suspect you are correct - does one of the guys at your end fancy looking into it?

I'll forward this to Steve Desmond - see if he can find out.

Hi there

Bens comments are right - the commercial space was only to be provided by the developer.

I investigated the fitness centre issue and the information that I received from our partner in Prague is that the the ground floor of Avenium has always been available for rent/sale as commericial space only.

It will depend on who leases/purchases the commercial units avilable as to what is opended (shops/resturants etc).

Thanks

This is very different to how this was portrayed in your marketing brochure, was this a misinformation into you by your partner in Prague?

As I was not involved in the original marketing of Avenium and I would like to investigate further...can you leave this with me?

Thanks

Absolutely - can you give me a feel for when you can come back on this?

Hi,
I've just spotted these posts - I too am very interested of you investigations. As you state in your investment report - ' In addition, the development offers a fitness centre free to its residents. This is currently a very desirable feature in Prague. You save around at least CZK1,000 (L24) per month in membership costs AND it has the convenience of being in-house'. Any further information is much appreciated
regards
Geoff

Can I ask what was the result of investigations into the gym at Avenium? Clearly, it was stated as a fact in the brochure.

Thanks