News August 11 2006

Damon Hill to open performance car club in Sydney

Hot on the heels of the launch of the Limited Edition fractional ownership/luxury car/boat etc club in Sydney comes seasoned UK-based performance car club P1.

P1, the prestige and performance car club co-founded in 2000 by former Formula One World Champion Damon Hill will open its first international branch in Sydney, Australia. The club which has seen great success in the UK, with branches near both London and Manchester, offers members access to a garage of the world’s finest and fastest cars from marques including Ferrari, Aston Martin, Bentley, Porsche and Lamborghini. P1 owns the fleet and takes care of the usual drawbacks and high costs of ownership such as depreciation, maintenance and storage leaving members free to enjoy the cars.

In return for an annual membership fee members receive a points and kilometre allowance, which are then ‘spent’ on bookings in P1 cars. The number of points a car ‘costs’ per day depends on its value, the day of the week and time of year the member wishes to take the car. This flexibility means that the number of days driving enjoyed by members will vary, but experience in the UK shows members typically enjoy around 50 to 70 days from their membership year.

P1 Sydney will begin operating on 1st December 2006 with 40 founder members and a ready-made AUS$4m fleet of the latest cars, including amongst others the Ferrari F430 Coupe and Spider, Lamborghini Murcielago. Oh and a few others like the Aston Martin V8 Vantage and Vanquish S, and Bentley Continental GT.

P1 Sydney's fleet will then continue to expand in line with membership growth up to a maximum of 250 members and over 40 cars. P1 Sydney members will be able to choose from three membership levels according to their likely usage of the fleet with annual membership fees ranging from AUS$27,000 - AUS$36,500. An additional AUS$4,550 one-off joining fee will be waived for the first 40 founder members. These founder members will also receive an extra allocation of points and kilometres - enough for a long weekend in the club’s Aston Martin V8 Vantage.

P1 Sydney membership places are available now by application, based on driving experience. Anyone interested in exploring a place can enquire via the club's website www.p1international.com.au or by calling Tim Sommers on 0410 460353 or by email at ts@p1international.com.