Circular 122 / 2.3.2006 / Lodges Holiday Letting 2005 - 2006

The Annual Report and Accounts was posted to all shareholders on 2nd March 2006. The Directors' Report narrative includes a section on SCI's letting performance in 2005. Further analysis has taken place since the Annual Report went to print and this is available by request from team@clifdenglen.net. See below ...

THIS IS A REALLY IMPORTANT CIRCULAR FOR LODGE OWNERS WHO WISH TO REMAIN LETTING THEIR PROPERTIES IN 2006.

Up to 2003 all holiday lettings at Clifden Glen were handled by the former management company Clifden Developments Ltd. In 2004 the Lodge partnershipsappointed Self Catering Ireland ("SCI") to handle holiday rentals of Lodges at Clifden Glen for its letting partners.

In 2005 exactly 50 Lodges were available to SCI for letting. Click here to request CGM to email you a copy of the Excel spread sheet setting out SCI's performance in 2005 as analysed by O'Donovan Stewart for the various partnership VAT returns. The SCI performance will be discussed at the AGM on 25th March 2006.

With the substantial number of partners now exiting partnerships it is no longer possible for the partnerships to deal with SCI.

If you wish to include your property in the SCI letting scheme in 2006 then:

- you must have a Lodge that was upgraded in 2004 to comply with four star Failte Ireland registration.

- you must not intend to sell your property in 2006.

- YOU must advise Niamh Radford in SCI before Thursday 16th March 2006 in writing. Click here to download a simple agreement you can print and post to SCI. This is vital information for SCI who cannot continue to take bookings for Lodges without knowing where they stand in relation to the quantum of properties available to them going forward in 2006. Click here to email Niamh Radford.

If SCI is not advised by you that you wish to continue letting by Thursday 16th March 2006 then they will assume you are NOT letting your property going forward.

Please seek independent financial and legal advice if you are unsure what to do.

NOTE:

It is CGM's intention to review the letting arrangements for 2007. This and other letting matters will be dealt with in full at the AGM on 25th March 2006.

Management time:

5 hours (dealing with SCI, agreement documentation, financial analysis, ODS and circular preparation).

Click here to return to the Noticeboard list.

Issued by Clifden Glen Management (2005) Plc
Market House, Churchtown, Mallow, Co Cork