Would you buy part ownership of a holiday property?

Sydney entrepreneur Drew Muirhead has sold his Cottage Point waterfront, but to the one owner.

Muirhead was previously offering the property under a co-ownership agreement drawn up by PodProperty chief executive Jeremy Levitt, but the scheme failed to attract enough interest from the 12 proposed part-owners.

It was intended the co-owners would have a deeded share of the title of the bricks and mortar and could use their share for their own holiday stay, or rent out their time.

Fractional ownership is a model used in the US and Europe.

It was proposed the owners would each have a deeded share of the title of the bricks and mortar and could use their share for their own holiday stay, or rent out their time for a great return.

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