Number of villa lots: Lot areas 59 lots: 400 m2 up to 921 m2 (4,306 ft2 up to 9,914 ft2)

• Crystal Pool: 114 m2 (1,227 ft2): 2 bedroom, 2 bathroom

• Crystal Pool: 128 m2 (1,378 ft2): 3 bedroom, 2 bathroom

• Cypress: 175 m2 (1,883 ft2): 3 bedroom, 4 bathroom

• Crescent: 222 m2 (2,390 ft2): 3 bedroom, 4 bathroom

• Majestic: 301 m2 (3,234 ft2): 4 bedroom, 4 bathroom

• Palmyra: 112 m2 (1,206 ft2): 2 bedroom, 2 bathroom

• Narrana: 134 m2 (1.442 ft2): 3 bedroom, 2 bathroom

• Jasmine: 171 m2 (1,841 ft2): 3 bedroom, 2 bathroom

Overview SeaRidge is a luxury residential resort development located in Hua Hin, Thailand.

Project Site The site consists of a series of gentle ridges running roughly in a north – south

Project Offerings SeaRidge offers five villa and three condominium plans, each of which were

Facilities & Services SeaRidge is a planned gated development boasting first-class facilities

• Superb club facilities with two large swimming pools

• Large nature reserve for exclusive use of residents

• Resort concierge

• Shuttle bus for exclusive use of residents

• Underground utilities

• 24 hour security

• Gardening and optional maid service

• Comprehensive managed rental programme

Project Schedule SeaRidge began very limited marketing in February 2006. Project construction

SeaRidge offers 59 two, three and four bedroom detached villas, and 56 condominiums, on a 5.3 ha

(13.1 acre) site with views of the Gulf of Thailand to the east as well as the surrounding coastal mountains

to the west, south and north.

direction parallel to the sea. These ridges provide a natural terracing for the location of homes to maximise

the view potential of the Project. The site is partially surrounded on three sides, the south, west

and north by the mountain range that runs parallel to the coast. These mountain areas are part of a

government land reserve. As such, these lands cannot be developed or sold. This provides a development

barrier around a large portion of the site.

The site was used for agricultural purposes (pineapples) until it was purchased and cleared for the

SeaRidge Project. No development other than agriculture has previously been undertaken on the site.

A geotechnical assessment undertaken by a consultant retained by the developer concluded that the

site is suitable for residential development.

specifically designed for the SeaRidge Project. As a result, the villas have been designed specifically

to fit the layout, sizing, and positioning of the lots at SeaRidge. To maximise the sea views, the villas

have been designed with large windows on the main side of each villa facing the ocean. All of the

main rooms, including the living room and master bedroom, face the ocean. The master plan was

prepared so that all of the villas are oriented toward the ocean and therefore, maximise the available

sea views.

Choose your lot and your villa type: at SeaRidge you have the opportunity to select which villa type

you prefer on your chosen lot.

and services. This includes:

began in the second quarter of 2006 with the first homes being completed by the end of

2006. Full completion of all works is scheduled by the end of 2008. The transfer of all homes should

be completed by the end of the first quarter in 2009.

south of Bangkok on the west coast of the Gulf of Thailand. The permanent population of Hua Hin

municipality was 47,000 in 2005. The travel time from Bangkok to Hua Hin by road is presently

about 2.5 hours. This travel time will be reduced after the completion of a major highway upgrading

project in 2008. Convenient access to Hua Hin is also provided by five daily flights using commuter

aircraft.

the town centre and 1,500 m (4,900 ft) from the beach. SeaRidge is 700 m (2,300 ft) west of Petchkasem

Road, the main north-south highway running through Hua Hin and north to Bangkok.

seaside community has long been a Thai favourite. For over 75 years, Hua Hin has been the

resort home of the King of Thailand. As a result of this Royal presence, Hua Hin quickly became

the preferred vacation destination for Thai nobility and upper-class. This has continued through to

the present with Hua Hin being the most desirable location for vacation properties amongst affluent

Thais. Beyond this considerable prestige value, the Royal presence also gives Hua Hin special

status with respect to planning, environmental protection, government funding and public safety. For

example:

country, which protects the town from the rampant overdevelopment that has adversely

affected other areas.

allocations for infrastructure and local services.

safe, with one of the lowest crime rates in Thailand.

international tourist visits were up over 16%, far greater than any other major resort in Thailand.

Tourists are attracted by the long uncrowded beaches, a pleasant tropical seaside environment,

five world-class golf courses, the wide range of high quality Thai and western dining, and a number

of five star resorts. These include the Hyatt, Hilton, Marriott, Sheraton, Sofitel, Dusit and the Chiva

Som, awarded the world’s best destination spa for 2006.

services including:

(pharmacy, beauty), Watsons (pharmacy, beauty), HomeMart (DIY home improvement),

Index (home furnishings), German bakery, European meats, speciality wine and liquor,

Italian cheese factory.

Chinese, Korean.

medical facilities (Bumrungrad International Hospital, Samitivej Hospital) in Bangkok.

Thailand, including Phuket. Airport providing service to Bangkok, motor coach and

train services to Bangkok and throughout Thailand.

7

Investment Opportunity

Rental returns Estimated 6% - 11% pre-tax, depending on unit, furnishings &

period of self-use (see pages 9 & 10 for detailed cash flows)

Tax on rental returns 5% withholding tax if paid into bank account in Thailand

15% withholding tax if paid into bank account outside Thailand

Capital appreciation 16% - 24% annually over past 5 years for quality properties

Freehold: fees & taxes Legal fees: THB 70,000 (£1,000) estimated

Transfer fee: 1% of purchase price

Stamp Duty: THB 1,000 (£14) estimated

Leasehold: fees & taxes Legal fees: THB 70,000 (£1,000) estimated

Transfer fee: 1% of value of lease

Stamp Duty: 0.1% of value of lease

THB 50

£0.72

$1.32

THB 200

£2.87

$5.27

Monthly maintenance fee Estimated monthly fee payable in advance for both villas and

condos:

THB 3,000

£43

$ 79

Annual property tax (rates) None

Managed Rental Fee 15% of gross rental amount

Agents commission 3% - 5% of gross sales price

Fees & taxes Transfer fee: 2% of sales price, but buyer normally pays half

Tax on Capital Gains upon sale:

Individuals: ranging from 0 – 37%

Club house 400 m2 (4,300 ft2) club house with 175 m2 (1,900 ft2) freeform swimming pool

Condominium swimming pool 300 m2 (3,230 ft2) freeform swimming pool

• Personal income tax on the total sales price less, where the taxable gain is based on

• Business Specific Tax of 3.3% of the declared sales value* if sale is within 5 years of

• Government transfer fee of 2% of declared sales value* which is normally split equally