Lease renewal info timeline?

3 February 2019

Hi Folks,


I'm a member of ACD3F and got an email circular today that says that they are meeting with the P&V Director of Leases in the middle of this month which should give an indication of what the new terms are likely to be. The inference is that the terms are officially communicated at the end of March, to take effect from after September this year.

Is that what others understand about the timeline?  I had got it into my head that we were to get a year's advance notice, but that was clearly wrong.



With thanks,



Submitted by AnthonyF on

Hi Steevo,

Effectively we did get a years notice.. The association - which is entirely voluntary - was formed spring last year I understand. Both Daniel and myself have tried to reach all the relevant UK and Irish owners. Many simply have not replied, one or two have clearly decided to walk away from their losses. It has taken a long while to get those on board that we have which may explain your point ? I will be trying again over the next few days to reach out to the remaining owners.

I can't recall seeing any papework from P&V saying they would contact us a year in advance ?.. If anyone does have something in writing about that please post it !

Also not all of the leases have the same start date..

best wishes



Submitted by steevo on

Thanks for your reply Anthony, but I don't understand your answer. My lease expires at the end of September and I imagine that's probably how most people are, as this is the first term of the lease, since they chalets were built. Am I correct in saying we will be informed of the new lease terms at the end of March or not?





Hi all.

I received an email back in October 2018 to say that my lease would end in Sept 2019 and that no decisions had been amde on options for lease renewal. This was from the rents department from This email was after an email I sent to the rents department.

I have sent an email back today and asked for an upadte. I will post reply if I get one.

I am new to this forum. To catch up with what has been happening I'd be grateful if someone would provide an update. From above it sounds like people are walkimg away from their investment - is there no lease renewal options then? Are Center Parcs walking away from the development?

Kind regards,






Hello Stephen,
You are like most homeowners concerned with the first installment of renovations in September 2019.
The other owners will be in 2021 ....
Our contract provides that we are notified 6 months before the date of September 30, 2019, so late March early April.
Then you will have 3 months to answer the mail of P & V if you agree or not on the new lease and the works.
As an association, we wanted to negotiate as soon as possible to have time to react if the P & V proposals are not good.
The first meeting in February will be just a preparatory meeting and ask questions.
The official dates will not change and the owners will always be masters of their choice. We will intervene as an association only to show P & V that we are grouped together and that we will not be allowed to impose unacceptable conditions.DanielACD3F President


Submitted by steevo on

Like others here I expect you all got your lease renewal terms today.

Interestingly we are already in the -10% penalty bracket for not accepting by the 15th April!


Anyway my reading is that we are being offered a 3% decrease on our current rent. It's indexed, but the cutoff in any one year seems to be greater than 1.6% which apparently the IRL rarely does - so effectively that's our new rent.


We also have the refurbishment costs, with 80% carried by us (in my case that's nearly €23k). There is a option to finance that through a rent reduction spread over the lease term.



I know the good guys in ACD3F are trying to fix the rent at what it currently is (i.e. no 3% drop) and the refurb costs at 50% as well as doing something on the indexation.



If you are an association member then Daniel F is negotiating the new lease terms on our behalf.

The offer from P&V takes NO ACCOUNT the capital loss we have ALL incurred on these properties.

Yes the lease renews in September. In the meantime it would be folly indeed to blindly sign the offer P&V are proposing. 

For those lucky enough to have bought outright - they may just about break even when they try to sell.

For the rest of us with mortgages this whole thing is a nightmare.




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