Archive for October, 2008

Easier.com

Wednesday, October 15th, 2008

Adding a touch of sweetness to St Lucia

Caribbean property specialist, Prestigious Properties, is pleased to introduce a unique investment opportunity to buy an exclusive retreat in one of the best locations in the world – on the island of St Lucia.

This summer, a new team joined together to invest US$100 million to rebuild The Jalousie Plantation to the truly 5 star, world-class standards this idyllic location commands.

Prestigious Properties are pleased to announce that Los Angeles-based Kor Hotel Group, operator of The Tides, an elite brand with resorts in the world’s most desirable locations, will manage the new resort, reopening it as The Tides Sugar Beach in 2010.

With locations on some of the most unique and awe-inspiring beaches in the world, The Tides Sugar Beach in St. Lucia is set to become the brand’s first Caribbean offering. Sister properties include The Tides Riviera Maya at Playa Xcalacoco on Mexico’s Yucatan Peninsula, The Tides Zihuatanejo on Playa la Ropa, on the Mexican Riviera, and The Tides South Beach in Florida.

Jalousie Plantation has been owned for the past three years by the Barnard family and Roger Myers (who founded and developed the successful Café Rouge chain and Punch Taverns plc in the UK). The Barnard’s company; Sunswept Resorts will conclude their management contract at Jalousie when the hotel closes for redevelopment next year, whilst Roger Myers will continue to take the project forwards.

Located in Saint Lucia’s magnificent Val de Pitons, Sugar Beach affords the enviable location of a UNESCO World Heritage Site within a spectacular 192 acres of rainforest and white-sand beaches. Sugar Beach will comprise 85 luxurious state-of-the-art villas, including one-bedroom villas ($700,000), two-bedroom villas ($1,310,000), two-bedroom deluxe villas ($1,210,000) and two-bedroom superior deluxe villas ($1,510,000). Each villa comes with its private plunge pool and sensational ocean and piton views.

The newest addition to The Tides collection will feature the brand’s distinctive offerings, including a prime coastal setting, provocative design, intuitive service and an array of refined and modern amenities designed for the spirited traveller. Personal Assistants, a Tides feature, will anticipate guest needs and assist them in accessing and enjoying the transformational experiences found on St. Lucia.

Locally grown and influenced cuisine and a holistic wellness program will offer ocean-inspired dishes and sustainable, marine-based spa products and treatments. The resort will unveil The Tides signature spa approach, guiding guests on a journey toward the discovery of their essential selves.

Villas are available for purchase as a buy-to-let investment, where owners are able to use their villa for four weeks holiday per year whilst also receiving a share of the hotel room profits. And with a guaranteed minimum rental return of 5% per annum from villa handover and for a further year after the hotel opens; huge demand in these villas is anticipated.

Marco Bonini, managing director of Prestigious Properties said: “This is an exciting time for us. With Roger’s 35 years of experience in the leisure industry and the level of investment and commitment pledged to this refurbishment, it will ensure that every aspect of the development is revisited and improved upon, transforming it into a world-class tropical resort in a totally unique setting.”

“St Lucia is becoming the destination of choice in the Caribbean for those who want a piece of paradise. With its superb location that has been 15-20% annual appreciation, and with the dollar rate still so favourable to British and European buyers, I’m confident that those with intelligent money to invest will snap up the villas. The protection ensured from the World Heritage status is also unparalleled, ensuring no risk from overdevelopment”.

Roger Myers who is based in St Lucia added: “Our unique location attracted interest from prestigious resort operators around the world. Kor Hotel Group’s high standards, proven experience and the energetic enthusiasm of their leadership convinced me that together we can create one of the best resorts in the world.”

“With an international brand of The Tides’ stature and Kor’s expertise behind the development – having already established various developments worldwide which have won a number of prestigious awards and media accolades – the value of real estate will rise dramatically, ensuring maximum appreciation of the property and higher room rates, which in turn will enhance the rental returns substantially.

“I am confident that like the other Tides resorts, once completed, Sugar Beach will provide our guests and owners with a truly special and inspiring destination.”

For further information, visit prestigious-properties.co.uk

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Daily Express – Bank on the Caribbean

Wednesday, October 15th, 2008

Anyone caught in the market downturn can take comfort from the story of a Caribbean developer who has seen it all before. ANDREA WATSON reports

JEFF HADEED watched last week’s financial crisis with a distinct sense of déjà vu. In 2001, he bought an old Antiguan hotel that stood in beautiful grounds overlooking Falmouth Harbour and was preparing to turn it into a luxury resort.

Then the world was rocked by 9/11. Overnight, markets plunged and investors decided to hold onto their cash. Instead of panicking and selling up, Mr Hadeed kept the hotel and gave it to his sister and business partner Bernadette Sherman who wanted to create a private island school. “We agreed she would have it rent-free for three years,” he said. “By 2005, the market had improved and we began working on the resort which is due for completion next year.”

South Point is a condominium-type investment, subject to the specific laws that apply to this type of landholding. However, buyers can use their property all year.

The complex offers 23 apartments in a series of buildings facing the harbour, five of which were bought by one British investor after he negotiated a discount.

All remaining 15 properties are one-bed condo suites with interconnecting doors to the next door suite. A discount is negotiable for buyers wanting interconnecting condos.

Prices start from about £330,000 for a single unit and £680,000 for the discounted two rooms.

Does Mr Hadeed think that the current market crisis will affect sales? “Of course,” he said. “But I also think people may fear putting their money into banks and will want something tangible. As far as the Caribbean is concerned, we have the added attraction of guaranteed warm weather.”

He said the main idea of the project was to provide a stress and hassle-free solution for investors, with a full-management and maintenance service offered.

With a background in property management – including hotels and restaurants – Mr Hadeed is well set to deliver this promise. One of his clients is fashion designer Giorgio Armani, for whom he not only helped find a property on Antigua but now looks after it. “He is very demanding. I have learned a lot about six and seven-star service from him.”

Asked why anyone would choose Antigua in preference to other Caribbean islands such as Barbados, Mr Hadeed said there a number of reasons, starting with price.

“It’s about 40 per cent cheaper here but there is much more space and the landscape is more natural because there is less development. Barbados is about the same size as Antigua but has three times the population.

“The atmosphere is also more relaxed here. We are much more flexible and less bureaucratic than some Caribbean islands.”

Another island vying to compete with Barbados, which could put forward many of the same arguments, is St Lucia where sales have remained buoyant. Indeed at The Landings yacht development near Rodney Bay, sales staff has reported their best year to date.

Investors have been attracted to the year-round rental market, which is particularly strong in the Rodney Bay area where the marina is being redeveloped.

Set in 19 acres, The Landings is built in traditional Caribbean style and offers a choice of luxury beachfront. The properties are built on reclaimed beachfront land, and as such can be bought freehold – a rarity in the Caribbean. Prices range from US$550,000 (£313,000) to US$2,000,000.

Prestigious Properties offers an alternative investment in the rebuilt Jalousie Plantation nestled between the world-famous Pitons.

US-based Kor Hotel Group will manage the new resort – renamed Sugar Beach – which is expected to open in 2010. Standing in 192 acres of rainforest and white-sand beaches within the Unesco World Heritage Site, it will comprise 85 villas priced from $700,000 to $2million plus, each with private plunge pool and ocean and Piton views.

The properties are being sold as a buy-to-let investment, where owners are able to use them for four weeks a year and receive a share of the annual rental profits, guaranteed to be at least five per cent for a limited period.
Roger Myers, founder of Café Rouge and co-owner of the site, said: “Our unique location attracted interest from prestigious resort operators around the world.

“Kor Hotel Group’s high standards, proven experience and the energetic enthusiasm of its leadership convinced me that together we can create one of the best resorts in the world.”

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Property4Media

Tuesday, October 14th, 2008

Adding A Touch of Sweetness to St Lucia

Caribbean property specialist, Prestigious Properties, is pleased to introduce a unique investment opportunity to buy an exclusive retreat in one of the best locations in the world – on the island of St Lucia.

This summer, a new team joined together to invest US$100 million to rebuild The Jalousie Plantation to the truly 5 star, world-class standards this idyllic location commands.

Prestigious Properties are pleased to announce that Los Angeles-based Kor Hotel Group, operator of The Tides, an elite brand with resorts in the world’s most desirable locations, will manage the new resort, reopening it as The Tides Sugar Beach in 2010.

With locations on some of the most unique and awe-inspiring beaches in the world, The Tides Sugar Beach in St. Lucia is set to become the brand’s first Caribbean offering. Sister properties include The Tides Riviera Maya at Playa Xcalacoco on Mexico’s Yucatan Peninsula, The Tides Zihuatanejo on Playa la Ropa, on the Mexican Riviera, and The Tides South Beach in Florida.

Jalousie Plantation has been owned for the past three years by the Barnard family and Roger Myers (who founded and developed the successful Café Rouge chain and Punch Taverns plc in the UK). The Barnard’s company; Sunswept Resorts will conclude their management contract at Jalousie when the hotel closes for redevelopment next year, whilst Roger Myers will continue to take the project forwards.

Located in Saint Lucia’s magnificent Val de Pitons, Sugar Beach affords the enviable location of a UNESCO World Heritage Site within a spectacular 192 acres of rainforest and white-sand beaches. Sugar Beach will comprise 85 luxurious state-of-the-art villas, including one-bedroom villas ($700,000), two-bedroom villas ($1,310,000), two-bedroom deluxe villas ($1,210,000) and two-bedroom superior deluxe villas ($1,510,000). Each villa comes with its private plunge pool and sensational ocean and piton views.

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