Archive for the ‘News’ Category

Conde Nast Readers Traveller Awards 2010

Thursday, September 2nd, 2010

Readers’ Travel Awards 2010

 

ACCOMMODATION: OVERSEAS LEISURE HOTELS

 

The Americas & the Caribbean

 

There is no hotel in The Americas & the Caribbean you would rather stay in than Jalousie Plantation on St Lucia. Giving it a top score of 92.49 for its location, you also rated it above 90 for environmental friendliness and service. Hôtel Saint-Barth Isle de France took the lead for food/restaurants (94.20), while you reckon Peter Island Resort in the BVIs is the most family-friendly (87.99).

 

1. The Jalousie Plantation, St Lucia 91.87

2. Hôtel Saint-Barth Isle de France, St Barts 91.46

3. Sandy Lane, Barbados 90.56

4. Parrot Cay, Turks & Caicos 89.40

5. Peter Island Resort & Spa, British Virgin Islands 88.39

6. Four Seasons Resort Whistler, British Columbia, Canada 87.36

7. Carlisle Bay, Antigua 86.34

8. Machu Picchu Sanctuary Lodge, Peru 85.26

9. Hotel del Coronado, San Diego 84.55

10. Cap Juluca, Anguilla 83.32

11. Anse Chastenet, St Lucia 83.01

12. Cotton House, Mustique 81.73

13. Rosewood Little Dix Bay, British Virgin Islands 80.48

14. Explora en Patagonia Hotel Salto Chico, Chile 80.01

15. One&Only Ocean Club, Paradise Island, Bahamas 79.04

16. Hotel Saratoga, Havana 77.55

17. Ladera, St Lucia 76.60

18. Soho Grand Hotel, New York 76.09

19. The Wickaninnish Inn, British Columbia, Canada 75.23

20. Hotel Monasterio, Cusco, Peru 74.33

London consortium secures investment in Sugar Beach Villas

Wednesday, August 18th, 2010

Cardea logo

Cardea Property Consultants are pleased to announce that a London-based consortium headed by British property developers Anthony Lyons and Gary Wilder has secured a substantial investment in the 130 acre Sugar Beach resort development in St Lucia.

The funds will be used to complete the US$100 million redevelopment of The Jalousie Plantation, creating a resort with 112 luxury rooms, 46 private residences, two white sand beaches, three new restaurants, four bars, a unique rainforest spa and walkway, a scuba centre, kids club and games rooms.  The resort is being rebranded as The Tides Sugar Beach in 2011.   Architects Lane Pettigrew Associates have been hired for the revamp.

Lyons and Wilder bring a wealth of property development experience to the project, having been involved with such projects as the O2 Centre and Earls Court developments in London, and more than US$57.8 billion in transactions since the late 1990s.   They will be joining the board of Jalousie Ltd where owner Roger Myers will remain as Chairman and majority shareholder.

Roger Myers comments: “We welcome our new partners, who bring an unrivalled depth of property development experience and we look forward to working with them as The Jalousie Plantation continues its multi-million dollar transition to Sugar Beach.”

Myers has over 35 years experience in the leisure industry covering restaurants, pubs health spas and hotels. He was a founder and Chairman of the Pelican Group which developed a hugely successful chain of restaurants in the UK including Café Rouge, Dome and Mama Amalfi. After the sale of the group to Whitbread, he became a founder and Development Director of Punch Taverns plc, a company that grew to become a Footsie 100 company and own over 6000 licensed premises in the UK.  He now lives in St Lucia and is exclusively focused on the development of Sugar Beach.

The Viceroy Hotel Group, keeper of The Tides brand, will manage the hotel when it is rebranded and re-launched as The Tides Sugar Beach in 2011.

There are 64 luxurious one and two bedroom hotel villas available for ownership, each with a private plunge pool and ocean or Piton views.  Prices range from US$700,000 to US$2.1million.  Owners are entitled to four weeks usage per year and a minimum 5% rental guarantee from villa handover until the end of the first year after the hotel re-opens.
 
The hotel villas at Sugar Beach are all fully furnished and are being sold as freehold.
There are also 41 Private Residences available for purchase.  Each of these meticulously appointed spacious homes has two to six bedrooms with spectacular ocean and piton views.  Prices range from US$2.4 million to US$6 million.

Money Observer

Thursday, July 29th, 2010

Logo

Heaven sent in St Lucia

A villa at Sugar Beach, the five star renovation of the Jalousie Plantation resort in St Lucia, could be an investor’s dream purchase. Ruth Emery reports

Lying on a beautiful white sandy beach and being gently hypnotised by the waves lapping the shore. Watching the sun set over the turquoise Caribbean Sea from your private plunge pool.

Welcome to Sugar Beach, a five-star $100million (£66 million) renovation of the former Jalousie Plantation resort in south-west St Lucia Built on a UNESCO World Heritage Site, Sugar Beach is nestled between the Pitons, a pair of magnificent volcanic mountains. The renovation project should be finished in December 2011, when the resort will reopen as The Tides Sugar beach.

The resort marries beautiful countryside (the plantation dates back to the 1700s and is home to 20 different types of mango tree as well as other lush vegetation and wildlife) with luxury facilities. These include 24-hour butler service, three restaurants, two sandy beaches and a rainforest spa.

But it’s not all just about sunbathing and pampering. There’s potential to make money here too. The resort boasts 64 one- and two-bedroom fully furnished hotel villas, of which 17 are still available for sale. Prices range from US$700,000 to a cool US$2.1million.

Owners are allowed to stay in their villa for four weeks a year. For the rest of the year the villas are rented out and income goes into a pool. Just over a third of the pool (37.5 per cent) is released and shared by the owners, depending on what price they paid for the villa. So even if your villa’s occupancy is low, if you paid the highest price, then you’ll get the most money. Lisa Basire, marketing Director at Sugar Beach Villas, says this is unique. “Nowhere has a revenue split like this,” she explains.

As the recession swirled around the world, the St Lucian property market was not immune. Property prices have fallen by around 15 per cent over the past year, according to David Farrin, Managing Director of St Lucia estate agent Doubloon Real Estate.

Business is slow for many estate agents. Farrin admits that his agency was selling about four properties a week five years ago and now it’s more like one a month. Developers have been hit hard too. One resort was backed by Lehman Brothers, so that development stopped. And construction on hotel and golf club Le Paradis is on hold. That said, the Caribbean island is generally becoming more upmarket with boutique houses and hotels now dotting its coastline.

Although critics say the development of Sugar Beach is slow, Basire says there is no chance of it being halted. “The development is not reliant on bank finance, so it doesn’t matter if occupancy or sales of villas drop. Development will continue.”

The owner in question is Roger Myers, founder of Punch Taverns and the man behind Cafe Rouge.

Sasha Cole, sales manager of Island Villas, part of the Savills group, thinks Sugar Beach is as good investment. “It offers a 5 per cent annum minimum rental guarantee, and not many developments are offering this anymore. The occupancy levels are high: almost 80 per cent now, and this is low season. Sales are very good this year too.”

Indeed, three villas and four private residences have been sold in the first half of this year. As well as the rental villas there are 46 private homes for sale, ranging in cost from US$2.4million to US$9million.

Farrin calls the Sugar Beach project a ‘protracted job, but a good job’. He adds: “It’s a big challenge to bring the standards up in the hotel. It’s going in the right direction though.”

There are sweeteners for investors to help offset the inconvenience of the whole complex closing for five months next year before the reopening. As Cole mentioned, there is a 5 per cent rental guarantee that lasts from the handover and for the first 12 months after the hotel reopens in 2011. After the guarantee has finished, the villas are expected to deliver a 5.98 per cent return in 2012, 6.98 per cent return in 2013 and 7.48 per cent return in 2014.

Sugar Beach has also been granted a 15-year income tax holiday by the government, as well as a 50 per cent reduction on annual property tax for five years, which brings it down to 2.5 per cent. There is not VAT, inheritance tax or capital gains tax for St Lucian residents.

However, as expected with a million-dollar villa in a five-star complex, there are a few fees. The annual charges include around US$5,000 for insurance and US$2,000 for maintenance.

If you buy the villa before building has started, stamp duty is charged (2 per cent value of the lot – a lot is worth roughly US$75,000). Foreigners must also stump up US$2,500 for an ‘aliens land holding license’, while lawyer’s conveyancing fees come in at US$7,500.

When it comes to selling the property, there is a 10 per cent vendor tax. Farrin says a popular way to get around this is to set up a company to buy the property. “Selling the property will then only incur a 0.5 per cent share transfer tax, rather than the 10 per cent vendor tax. Setting up a company takes about six to eight weeks and costs around US$2,000.”

So what about financing your luxury villa? Banks on the island such as Royal Bank of Cana and First Caribbean offer mortgage rates as low as 3.5 per cent to foreigners if they open a US dollar bank account, according to Cole, for up to 75 per cent loan-to-value. How-ever, Farrin says getting a mortgage in St Lucia is a ‘long drawn out process’ for foreign buyers. Instead, he recommends that people use any collateral they have in their UK property.

So why should investors choose St Lucia? Well, it’s cheaper than St Barts, Mustique and Barbados. Basire reckons a comparable purchase in Barbados would be 30 to 40 per cent more expensive.

Farrin says that although house prices have stagnated this year, there are signs that they will pick up soon and ‘we’ve seen quite a few enquiries from developers.’ He adds that the rental market is holding up well and tourism figures are up this year.

Caribbean Homes Magazine

Monday, July 26th, 2010

Situated on the exclusive south west-tip of St Lucia are the twin peaks of the Pitons, the islands best-known landmark. Rising dramatically out of the turquoise ocean to over 2,000 feet these mountains cradle the Val des Pitons at their base. This area is a UNESCO World Heritage Site of outstanding natural beauty, and is also the location for a new five-star resort being constructed on the site of the original Jalousie Plantation.

Roger Myers, the former owner of the Cafe Rouge restaurant chain, bought the hotel in 2005 and is now spearheading a $100million transformation programme aimed at turning it into one of the Caribbean’s premier resorts. Managed by elite brand The Tides, part of the Viceroy Hotel Group, the resort will be rebranded at the end of 2011 as The Tides Sugar Beach.

Work on the project is well under way, and some of the major features have already been completed. These include a striking bar and club in the main building of the new hotel, where Roger Myers’ impressive personal modern art collection adds an uber-cool feel to the resort. Other amenities include two white sand beaches, beach club and lounge, gourmet restaurants, water sports centre, marine reserve for snorkelling, games room, children’s play centre and a swimming pool.

A focal point of the resort is the Rainforest Spa, which consists of tree house treatment cabanas connected by wooden walkways that snake up the side of the hill under the rainforest canopy.

The strong focus on detail and design extends to the hotel rooms, which are actually luxurious colonial villas incorporating individual plunge pools and vast terraces with incredible views. Architect Lane Pettigrew is responsible for the redesign of both the resort and the luxury Sugar Beach Villas that are nestled in small clusters among the 130 acres of rainforest around the resort. Butler stations for each cluster take care of the individual needs of each guest.

Each of the freehold hotel villas is available to purchase fully-furnished. Prices start at US$700,000 for a one-bedroom villa and go up to US$2.1million for a superior deluxe two-bedroom villa.

Owners are entitled to four weeks personal usage of their villa each year and will also receive a 37.5% share of the total room revenue, which will be pooled. The purchase price of the villa determines the points allocated to each owner in the pool. Owners will also benefit from a guaranteed minimum return of 5% until the end of 2012.

There are also 31 meticulously appointed Private Residences available to purchase. These secluded Residences feature open living and dining areas perfectly designed for entertaining, complete with infinity-edged pools. Each spacious detached island home affords spectacular Piton or oceanfront views and can be used as little or as often as you wish. If you would like to rent out your residence, The Tides will manage everything for you providing the best of both worlds; the seclusion of an exclusive island home and the five-star marketing and management to enhance rental when not in use. Prices range from US$3million to US$7million for a three, four or five bedroom residence.

A little further along the beach British Aristocrat Lord Glenconner, who originally discovered the site between the Pitons in 1982, has put his name to five contemporary freehold residences to be known as Glenconner Beach. These immaculate homes are positioned directly on the beach with uninterrupted views of the bay and the Pitons. Also designed by Lane Pettigrew with a modern twist on traditional Caribbean style with five or six bedrooms, the homes afford luxurious swimming pools and extensive terraces. Owners are also able to meet with Lane to discuss any minor alterations or changes to perfect their ideal Caribbean residence. Each has five or six bedrooms, with prices from US$7million to US$9million.

The Jalousie Plantation has enjoyed 20 years of successful operating history, with a proven demand for the resort and average annual occupancy rates recorded at around 70% for the last five years. The St Lucian Government is vetting new developments very carefully and has granted owners at The Tides Sugar Beach a 15 year holiday on income tax and a 50% waiver on annual property tax for five years.

Properties of this calibre, in terms of beachfront location and an elite hotel management brand are 30-40% more expensive in Barbados. The accessibility is also a key selling point with daily direct flights to St Lucia from the UK, USA and Canada. What’s more, the UNESCO World Heritage Status of the Val des Pitons ensures protection from neighbouring overdevelopment, giving Sugar Beach the exclusivity you would find in other wealthier Caribbean Islands such as Anguilla, St Barts or Mustique.

Foreign Property Buyer

Friday, July 9th, 2010

Female property investors are becoming increasingly confident about the overseas property market; Cardea Property Consultants, sales and marketing agents for Sugar Beach villas in St Lucia, have sold luxury villas totalling $14.5 million in their first six months of operation. Since the all-female agency set up in December 2009, four private residences and three freehold rental pool villas have been sold.

Their success is down to several factors:

- They are selling properties on a Freehold basis which is very unusual as beachfront land is leasehold in St Lucia
- Owners receive a 37.5% share of the total room revenue, which will be pooled and then split between owners proportionately according to the purchase price of their villa
- The developer is not reliant on bank finance to complete the renovation and the project.

There is a number of reasons to buy investment property in St Lucia:

A sound investment: St. Lucia offers the same advantages as other Caribbean properties, with prices currently 60-65 per cent less for the equivalent floor space. The island’s tax regulations ensure minimal taxes on re-sales; no estate taxes and no tax on rental income for the first 10 years of ownership (15 years for Sugar Beach).

Culture: St. Lucia provides the best of both worlds: a laid-back friendly island atmosphere with modern amenities and North American building standards. Influenced by a blend of African, French and English traditions, St. Lucians are known as the friendliest people in the Caribbean, if not the world. The island hosts a wide array of cultural festivals, giving visitors a true taste of the tropics.

Security: St. Lucia is a stable, independent nation, providing visitors with an established and trusted banking system, excellent medical services and a safe tourism environment.

Accessible location: St. Lucia is an ideal location for those looking to escape the cold winter months. It is easily accessible from London Heathrow and London Gatwick from where there are 5 flights per week with British Airways and 3 flights per week with Virgin. St Lucia is also accessible by sea as a popular cruise and sailing destination.

A tropical paradise: St. Lucia offers rainforest hiking and walking, some of the world’s best sailing, the Piton mountains and golden sand beaches.

Cardea Property Consultants, sales and marketing agents for Sugar Beach villas in St Lucia, have sold luxury villas totalling $14.5 million in their first six months of operation. Since the all-female agency set up in December 2009, four private residences and three freehold rental pool villas have been sold.
Lisa Basire, marketing director, puts Cardea’s success down to several factors. She says: “Sugar Beach is being sold on a freehold basis, which is extremely unusual in St Lucia as beachfront land is leasehold.

“We have been able to sell new-build rental pool villas, which form the accommodation for the resort because the existing hotel – the Jalousie Plantation – has 20 years of trading history. That’s why Sugar Beach is able to offer owners an exact 37.5% of the pooled room revenue rather than paying a split of the profit because they know what the running costs are and they know the occupancy levels. For added confidence, purchasers of these fully furnished rental pool villas enjoy a minimum 5% rental guarantee from handover and for the first 12 months after the hotel (Jalousie Plantation) re-opens as The Tides Sugar Beach in 2011.”

Owners are entitled to use their villa for four weeks each year. For a one bedroom villa this is the equivalent to a saving of around US$23,100 each year.

Lisa continues: “We are finding, however, that the three bed – roomed private residences are the most popular purchases. I think the reason for this might be that the type of purchaser coming in at this level is more focused on retaining privacy and anonymity.”

“Another positive of Sugar Beach in this difficult world market, is that the developer is not reliant on bank finance to complete the $100 million development, giving investors’ peace of mind that the resort will be re-developed as planned.”

Most investors at the Sugar Beach resort are primarily from Britain making up 56% of the total purchases, followed by Europeans and Americans which together make up for 30% of the sales. Buyers of the Private Residences get all the benefits of the ongoing US$100 million redevelopment of the former Jalousie Plantation resort which will redefine the concept of luxury when complete and re-launched as the Tides Sugar Beach Resort in 2011.

Success in St Lucia

Friday, June 25th, 2010

Cardea Property Consultants, sales and marketing agents for Sugar Beach villas in St Lucia, have sold luxury villas totalling $14.5 million in their first six months of operation.  Since the all-female agency set up in December 2009, four private residences and three freehold rental pool villas have been sold.

Lisa Basire, marketing director, puts Cardea’s success down to several factors.  She says: “Sugar Beach is being sold on a freehold basis, which is extremely unusual in St Lucia as beachfront land is leasehold.  We have been able to sell new-build rental pool villas, which form the accommodation for the resort because the existing hotel – the Jalousie Plantation – has 20 years of trading history.

That’s why Sugar Beach is able to offer owners an exact 37.5% of the pooled room revenue rather than paying a split of the profit because they know what the running costs are and they know the occupancy levels.  For added confidence, purchasers of these fully furnished rental pool villas enjoy a minimum 5% rental guarantee from handover and for the first 12 months after the hotel (Jalousie Plantation) re-opens as The Tides Sugar Beach in 2011.”

Owners are entitled to use their villa for four weeks each year. For a one bedroom villa this is the equivalent to a saving of around US$23,100 each year.

Lisa continues: “We are finding, however, that the three bed – roomed private residences are the most popular purchases.  I think the reason for this might be that the type of purchaser coming in at this level is more focused on retaining privacy and anonymity.”

“Another positive of Sugar Beach in this difficult world market, is that the developer is not reliant on bank finance to complete the $100 million development, giving investors’ peace of mind that the resort will be re-developed as planned.”

Most investors at the Sugar Beach resort are primarily from Britain making up 56% of the total purchases, followed by Europeans and Americans together making up for 30% of the sales.  Buyers of the Private Residences get all the benefits of the ongoing US$100 million redevelopment of the former Jalousie Plantation resort which will redefine the concept of luxury when complete and re-launched as the Tides Sugar Beach Resort in 2011.

Jamaica Observer

Tuesday, June 15th, 2010

St Lucia and US Virgin Islands post double-digit tourism numbers

BY NICOLE MC DONALD

Friday, May 28, 2010

ST Lucia and the United States Virgin Islands are the only two countries in the Caribbean that have recorded double-digit growth in the tourism industry.

At least that’s according to Smith Travel Research, which is an independent benchmarking company. St Lucia’s growth rate for the first quarter of the year was listed at 14.3 per cent. Smith research has also rated St Lucia in a top five rating by investors for its investment friendly climate. The news is welcomed by Tourism Minister Allen Chastanet who was informed of the rating at the Caribbean Hotel & Tourism Investment Conference 2010 (CHTIC 2010) held in Puerto Rico on May 6.

“This means that the policies we put in place have been working and in very trying times too,” the minister told St Lucia’s Star newspaper. “We have been bucking the trend. The numbers are even more incredible when one takes into account that our US arrivals are up 37 per cent for the first quarter.”

The minister has been heavily criticised for some his marketing initiatives in the past.

“I feel vindicated. We feel vindicated because we know that our work is clearly cut out for us with the second half of the year coming,” he said before going to speak about other information that came out of the conference.

“What’s interesting about the conference was that while there was the general prognosis that the recession is over, they expected there to be a lag effect and they did not expect to see full recovery at least for another two years. The other thing that Smith research did was an analysis of the effects of 9/11. And it showed that it took the hotels six years to recuperate their rates after discounting after 9/11. With the levels of discounting due to deepness of the recession, they expected it to be eight years before hotels could recuperate rates. In the case of St Lucia the faster we can get back to the numbers then we can beat that trend. This will be very important for the viability of this country.”

Chastanet had some definite views on why St Lucia had recorded double-digit growth.

“Last summer we felt that Mexico would not recuperate. There was an opportunity for us to be able to steal some market share from the United States of America and we went out very aggressively. Once we were able to secure the TV show The Bachelor, we then spent a disproportionate amount of funds on the US market. We did a strong trade campaign in the fall along with a major radio and Internet campaign in the month of November and we saw immediate results from that. Now, following The Bachelor filming in St Lucia we expect to see the rewards.”

Chastanet also listed the increased airline seats to St Lucia during the upcoming summer.

Said the minister: “Last year we had 9000 seats a month coming out of the US market. This year we are going to have 20,000 seats. The increase in arrivals are not only better than 2009 but they are now the best we ever had. So we have seen real growth.”

The minister also spoke to the STAR about budget cuts and the tourism industry allocation being cut back.

“I was not very happy, very disappointed, but at the same time I also understand the government is in a very precarious situation. Expenses have gone up, especially in terms of the amounts that we have to pay for salaries, recurrent expenditure is high and we are going to have to find a way to make what we have work. It is going to require some levels of structural changes as to the way we do business at the St Lucia Tourist Board. We are presently reviewing our budget and preparing a proposal for the prime minister and minister of finance in terms of the way forward.”

Tourism Minister Allen Chastanet says he is encouraged by recent travel figures

Considering the financial resources available for tourism development the minister did speak about the support given to St Lucia’s carnival in the past and whether the million-dollar investment of last year will again come through this year.

“I made a three year commitment to Carnival. When we came into governance there were only about five bands and I said what we would do is invest a million dollars a year into the production of carnival to make it viable and hopefully at the end of three years we would be able to still spend the three million dollars but in marketing. I didn’t want to go spend the money in marketing unless we had a product. I think we have been able to achieve that. We had 22 bands last year; we had three bands with over 1,000 people. So I think from the point of view of the private sector, the entities that normally sponsor Carnival, we have now brought back Carnival to being the biggest event we have in St Lucia… We are going to spend our million dollars on marketing for the event. The Tourist Board remains committed to carnival.”

The minister added that he would like to see the St Lucia Tourist Board help local performers and artistes produce videos.

Said Chastanet: “It’s through these musical videos that we get the exposure we need to help promote our carnival,” he said. “We have been very disciplined as an organisation to spend money over the last three years on the Carnival product. That has paid off and a lot of musicians are back on their feet and St Lucians are beginning to expect a better and better Carnival. But the Tourist Board funds right now would be better spent on marketing the event. The Tourist Board is after all a marketing agency.

New Airport to Support a Higher End Lifestyle for Property Owners in St Lucia Announced

Friday, June 4th, 2010

The Minister of Tourism Allen Chastanet reveals that the quality of life is changing in St Lucia and services are developing to support a higher-end lifestyle for property owners and discerning travellers. The news has been welcomed by luxury developments such as Sugar Beach, an exclusive development of luxurious hotel villas and private residences in the Val des Pitons, a UNESCO World Heritage Site.

Chastanet says: “The property market has weathered the recession well. Our real estate prices did not boom uncontrollably, so consequently, did not crash like other destinations. People have bought property to use for lifestyle reasons rather than for speculation.”

Chastanet continues “We are redefining St Lucia’s image as ‘barefoot luxury’. St Lucia previously was not known as a high-end destination, but we now have several new upscale resorts such as Sugar Beach, and Jade Mountain amongst others. We are now developing better facilities to support this clientele.”

Lisa Basire,  Marketing Director of Sugar Beach says, “We have had a fantastic six months, with five sales made in December alone totalling nearly US$7million and two Residences sold over Easter weekend worth around US$4million.  The property market is still very much alive and demand for high end products in St Lucia is good.”

St Lucia has always been a popular sailing destination with many boats starting there and heading to the Grenadines. Now with the opening of new super yacht facilities at Rodney Bay Marina, the island is seeing more and more celebrities dropping in on their mega yachts. Recent spots have included Bono, Tiger Woods, Roman Abramavich and Oprah. The new facilities can now take yachts on 32 dedicated berths up to 250 ft. in length. Already, the marina has received rave reviews from participants in the Atlantic Rally for Cruisers (ARC) who made the facility their temporary home after their race across the Atlantic.

Arriving at St. Lucia will also become more of a pleasure as the Government has announced plans recently to construct a new terminal with all modern amenities at the Hewanorra International Airport in Vieux-Fort. Prime Minister King says the development of a new terminal at Hewanorra, is designed to accommodate increased airlift, (which is scheduled to triple in the summer of 2010), and to bring the airport up to speed with international trends and standards.” The improved terminal will also allow for all inter-island Caribbean flights to pass through Hewanorra, making it a preferred destination for private jets. Work started on the new terminal in January 2010 and it will take two years to complete.

The Baywalk Shopping Mall in Rodney Bay is another development in the north of the island that is close to completion. There will be two floors of retail shops including some of the world’s best brands and St. Lucia’s first casino, which is opening in July 2010.

In Soufriere, US$100 million has been invested on the former Jalousie Plantation resort which will redefine the concept of luxury once complete and re-launched as the Tides Sugar Beach Resort in 2011. Resort facilities include 24-hour butler service, three gourmet restaurants, four bars, the Rainforest Spa (fully opening in September 2010), a scuba dive centre, kids club, games room and two white sand beaches with beach club & lounge.

There are 64 luxurious one and two bedroom hotel villas available for ownership, each with a private plunge pool and breathtaking ocean or Piton views. With prices ranging from US$700,000 to US$2.1million, owners are entitled to four weeks usage per year and a minimum 5% rental guarantee from villa handover until the end of the first year after the hotel re-opens.

The hotel villas at Sugar Beach are all fully furnished and are being sold as freehold, which is extremely unusual in St Lucia due to the Queens Chain Law. And, as the villas are in a designated World Heritage Site, you are ensured that there is no risk of over development. 

Also available to purchase are 41 stunning Private Residences. Each of these meticulously appointed spacious homes has two to six bedrooms and affords spectacular, ocean and piton views with prices from US$2,400,000 to US$6,000,000. All properties have been designed by the award-winning architect Lane Pettigrew in the same Caribbean white fretwork style.

Owners of the Private Residences can use their home as little or as often as they like. If they wish to rent out their residence, The Tides will manage everything, providing the best of all worlds; the privacy of an island paradise, international marketing and management to enhance rental when not in use and exceptional facilities just steps away.

Lisa Basire says, “The South West coast is fast becoming an exclusive destination. With luxurious amenities and all the seclusion you would expect from an idyllic island home, St Lucia is aligning itself with more elite locations such a St Barths and Anguilla.”

Destinations of the World News

Tuesday, June 1st, 2010

A sweet proposition

ST. LUCIA

by Megan Wynes | June 1, 2010


Discover a slice of paradise for sale on the Caribbean island of St Lucia

There are few places in the world where it’s possible to relax, switch off the BlackBerry and really wind down; The Jalousie Plantation, St Lucia is one of them.

Nestled within the Caribbean island’s UNESCO World Heritage listed Val des Pitons area, the plantation is flanked on either side by the majestic peaks of the Gros and Petit Pitons, while at its feet can be found a crystal-clear blue ocean, bursting with protected coral reefs.

Recently acquired by Roger Myers, founder of Café Rouge and Punch Taverns, this fabulous plantation is the site of a new resort development, dubbed Sugar Beach, which is to be managed by the Los Angeles-based Viceroy Hotel Group’s The Tides brand when it opens in late 2011.

Working with award-winning RIBA architect Lane Pettigrew – who also owns a home next to the plantation – Myers’ inspiration for the design of the hotel villas, private residences, spa, restaurants and bars, has been drawn from the island’s rich traditions, with local craftsmen and materials being used where possible.

The rainforest spa is a wonderful example of this: the treatment rooms, raised on stilts above the plantation’s natural springs, have been built to resemble the homes of St Lucia’s original inhabitants.

With thatched roofs and thick wooden walls, these treehouses can be found hidden in hills on the island, and many of the local Rastafarian islanders still call them home.

Several of the craftsmen involved in the spa’s construction, due for completion in September 2010, hail from these communities, and this is where you can see Myers’ passion for the people shine through.

He is a common sight around the plantation, chatting to the builders – in his signature straw hat and shorts – making sure that everything is coming along, as planned.

It’s easy to understand his passion; a substantial US$100m has gone into transforming Jalousie into what will be ‘one of the best resorts in the world’. A bold claim, perhaps, but one site visit is enough to convince even the most belligerent doubting Thomas.

It’s impossible not to be moved by the beauty of this place. Tropical palms scattered on the surrounding slopes conceal any signs of recent development, while the old plantation-style accommodation is lovingly transformed.

Each of the 85 freehold hotel villas, and 36 private residences currently being built is different from the next, and surrounded by developed tropical gardens they offer a level of privacy and seclusion found in few resorts in the Caribbean. From the beach, the villas are invisible, literally enveloped in lush greenery, and scattered up a steep incline, each boasting uninterrupted views of the ocean.

Expansive decks are positioned to soak up the amazing views, while immaculate colonial interiors and furnishings are thoughtfully laid out to allow guests to take in the exquisite surroundings, whether from a cushioned window seat or their own private plunge pool.

Although isolated from the central resort buildings, residents have access to 24-hour butler service – with each small cluster of villas afforded their own dedicated staff – while transport is always on hand to whisk them off to one of the resort’s restaurants or bars.

Several of these, now restored, provide a glimpse of the very high standards guests can expect once the resort officially reopens as The Tides Sugar Beach next year, and stand as testament to the hard work put in by Myers and the property’s new general manager, Andre Boersma (and his team from The Tides).

Our particular favourite was the Cane Bar in the old Plantation Room. Flanking the huge wooden door that serves as its grand entrance its a wonderful painting by a local Caribbean artist: a woman stitching a voluptuous sheath of red fabric that seems to float down the wall.

When lit by the stairway’s grand chandelier at night, you could almost touch the rich fabric.

Inside, stark white walls are hung with voluminous sheets of fabric that are reflected in the deep, mahogany wood floors, while huge velvet sofas and bar stools invite guests to relax with a glass of local Caribbean rum.

Yet more artwork dots the walls, handpicked by Myers from his private collection, while in the Late Night Bar, celebrity friends have posed for a series of portraits – all signed. Our favourite was a casual pencil sketch, by Lennon, hung next to the entrance to the roof terrace.

Just a stone’s throw from this den of delights is the newly refurbished Great Room, home to the resort’s fabulous fine-dining restaurant.

Offering a selection of flavours from the Caribbean to Central America and the Mediterranean, the chefs here are defining a new level of island cuisine. Using local produce where possible, head chef, Cupertino Ortiz, is taking advantage of the abundance of fresh fish and shellfish, adding a touch of Mexican zest, a healthy splash of Caribbean spice, and delivering a taste sensation.

The beach restaurant and bar was another haute highlight. Dotted with soft linen sofa seats, solid wood benches, and open to the elements, it has a wonderfully casual feel during breakfast and lunch service, while in the evening, it takes on a whole new atmosphere.

Listening to the sounds of the waves lapping on the beach, while enjoying a glass of chilled white wine and a simple plate of pasta or fresh ceviche, there’s nothing really quite like it.

GLENCONNER BEACH

It’s been more than 50 years since Colin Tennant (better known as Lord Glenconner) bought the Caribbean island of Mustique, and created a luxury island community welcoming both Royalty and celebrities alike.

With strong links to Jalousie Plantation, Lord G is now the face behind a new island community at Glenconner Beach (pictured above).

Only five luxury villas (four freehold, one leasehold) will be built on the site of Lord G’s former home, with access to their own private beach, a private jetty, and uninterrupted ocean views. Each five- to seven-bedroom villa (they range from 13,340 to 26,852 sq ft) is to be designed by Lane Pettigrew in true Caribbean style, with outdoor and indoor spaces merging seamlessly. There are also plans to develop a small shopping village, where local artisans, farmers and fishermen can sell their wares to guests. Villas start from US$7m and all will have access to the resort facilities at The Tides Sugar Beach.

WANT TO BUY?

The bonus

• No other building permissions will be granted on the 192 acres of rainforest and pristine beaches. • The government of St Lucia has granted investors a 15-year holiday on income tax and a 50 per cent waiver on annual property tax for five years.

The hotel villas

These one- or two-bedroom villas form part of a rental pool within which owners are entitled to four weeks free usage and a revenue split of the rental return, guaranteed at a minimum of five per cent net ROI from now until the end of the first year of operation of Sugar Beach. These villas start from US$610,000 and go up to US$2.1m.

The private residences

Owners are entitled to unlimited personal usage, or if the owner wishes, they can rent their property through The Tides. Residences are priced from US$2.3m for a two-bedroom property and up to US$9m for one with six bedrooms.

Dubai Property Weekly

Wednesday, May 26th, 2010

Mubadala venture sets sights on St Lucia

Ginetta Vedrickas

Freelance Writer

One of Abu Dhabi’s leading investment companies has found a choice spot for itself under the Caribbean sun. This comes in the wake of Mubadala Development Company picking up a 50 per cent stake in Los Angeles-based Viceroy Hotel Group, and together they will be focusing on an aggressive rollout of newproperties bearing The Tides and Viceroy brands.

First up will be a hotel on the sunkissed island of St Lucia. A sizeable sum of $100 million is being invested to turn the world-renowned and much-loved Jalousie Plantation into a world-class five-star hotel and residential development.

The Viceroy Hotel Group was “specially selected from a beauty parade of hotel operators,” says Naomi Cambridge, sales director of Sugar Beach villas, who believes this would give potential buyers confidence in the product. “We believe that we have found the perfect combination of partners to provide the expertise necessary to create one of the best resort developments in the world.”

That the developer is not reliant on ban finance to complete the development may also add to investors’ sense of security at a time when many prestige projects are faltering across the world.

Wide reach

The Viceroy Hotel Group is one of the fastest growing deluxe hotel brands, currently opening hotels across the Middle East as well as flagships in London and New York, while continuing to manage existing properties in Miami, Los Angeles, Mexico and St Lucia.

With the World Bank placing St Lucia in the Top 30 countries to invest, 37 of the 85 privately-owned, buy-to-let villas have already been snapped up. Completion is expected by the end of 2011.

The Sugar Beach villas’ selling agents, Cardea Property Consultants, believe buyers won’t just be attracted by lifestyle opportunities but also by the investment potential. The villas form part of the hotel’s rental pool, affording owners four weeks free usage and a revenue split of the rental return, guaranteed at a minimum five per cent net until the end of the first year of operation. St Lucia may not yet have the profile of other Caribbean destinations such as Barbados, but Sugar Beach’s sales director Naomi Cambridge says: “Over the last few years property in St Lucia has experienced a 15 to 20 per cent annual appreciation, which is set to continue.

Buying would be 30 to 40 per cent more expensive in Barbados, in comparable terms of beachfront location and the five star hotel management company.”

Safe haven

Cost aside, few other developments in the world have a protected Unesco World Heritage status. Naomi predicts that returns on rental villas will be around seven per cent by the end of third year and adds the island is a safe haven for investors. There is no VAT, capital gains, inheritance or estate taxes in St Lucia, and a stamp duty of two per cent is payable only on the land if construction has not started on your particular villa.

The St Lucian government has also granted buyers at Sugar Beach a 15-year holiday on income tax and a 50 per cent waiver on annual property tax for five years.

The villas start from $610,000 up to $2,100,000 for buyers opting to use the rental pool model, but totally private villas are also being offered for $2.30 to $9 million. Private residence buyers can still rent their properties with full management from the Tides brand. Resort facilities include a luxury spa, three restaurants, four bars and beach club, while no other building permission will be granted on the 192 acres of rainforest and pristine beaches surrounding the development.

Naomi believes UAE-based investors will be tempted to followin Mubadala’s footsteps, “The Abu Dhabi Sovereign Wealth Fund has a lot of cache with UAE investors, the fact that they have chosen to invest in the Viceroy Hotel Group highlights that it is a solid investment.”