The Wellington Philosophy and How it Safeguards Purchasers of North Cyprus Property

Wellington Estates Ltd is a North Cyprus registered property development company. Our mission is to purchase attractive parcels of land and construct quality holiday and retirement villas for UK customers. The Wellington Philosophy is that we build on land we own.

We are committed to designing and constructing villas on land we ourselves own. Due to the fact that purchasing land in locations outside the UK is often a complex and risky matter, we only conclude purchases after exhaustive searches of local title deeds have been made.

The fact that the land on which villas are built is owned by ourselves provides significant reassurance to UK Purchasers of our properties. During the last 3 years we have purchased several significant banks of land. All this land has been paid for in full and there are no mortgages, loans or any other charges on our land. In addition, prior to any proposed land purchase, we conduct a range of searches. This not only tells us the status of the land in terms of North Cyprus Title Deeds, but also whether the land was in Greek occupation or ownership prior to 1974. The latter point is vitally important as we wish to be assured that there are no dispossessed Greek owners seeking to reclaim land.

Prospective customers will realize how important this point is if they spend a little time visiting the large number of Estate Agents in North Cyprus. Most Estate Agents will be able to tell you the identity of a builder for a specific development, but are often unable to state who is the owner of the land. This is because most builders do not own the land on which they are building, due to the lack of credit and bank loan facilities in North Cyprus. This situation is dangerous because a customer can give money to an Estate Agent or builder without any firm guarantee as to the ownership of the land. There are many stories of British purchasers who have moved into properties and have a knock on the front door from a Turkish Cypriot who asks them if they like their new house, and then asks them if they would like to buy the land on which the house stands. If the land is subject to a claim from a dispossessed Greek owner, the situation is even worse.

Estate Agents have a poor reputation in most developed economies. In developing economies like North Cyprus, there are very few controls indeed over Estate Agents, and those controls which do exist are regularly flouted with impunity.

For this reason, the Wellington Philosophy is that we build on land which we own. Please ask your solicitor to examine our title deeds.

The disadvantage of this philosophy is that we unfortunately only have a limited number of villas for sale at any time. We are not Estates Agents.

With this in mind, please read about North Cyprus Property and its international status

All North Cyprus properties are currently undergoing significant and sustained capital appreciation.

In addition to constructing villas for UK customers who wish to take possession of their purchase, we also offer significant investment opportunities for clients who are seeking a cash investment which is secured on the basis of property. A profitable and secure investment can be made from the UK without the need to visit North Cyprus.

For those clients who may wish to obtain a mortgage in order to defray the cost of a property purchase, we offer a mortgage search and assistance service.

The directors and management of the Company are split between North Cyprus and the UK. There is a UK resident director and an office in South Wales which can assist UK Purchasers and investors.

So please note, the Wellington Philosophy is that we build on land we own


Top Home