Posts Tagged ‘Kor Hotel Group’

Country Life International

Wednesday, October 21st, 2009

Chic by the Shore

Lord Glenconner discovered paradise between the Pitons when searching for an alternative to Mustique 30 years ago. Now, he’s helping to create authentic luxury, says Arabella Youens

Right on the beach between the Pitons – St Lucia’s iconic, densely forested volcanic cones and World Heritage Site – work is under way to re-launch the Jalousie Plantation hotel as The Tides Sugar Beach. This perfect crescent of sand first caught the eye of Colin Tennant, Lord Glenconner, when he moved to the island from Mustique in the early 1980s.

‘I arrived by canoe, having been told about some hot springs when living, very basically, in the nearby town of Soufrière,’ explains the old friend of Princess Margaret, who is nonchalantly dressed in a white linen kaftan and a well-worn straw hat, relaxing in his half-finished house, which is strewn with Indian antiques. ‘The Jalousie and Beau Estates were home to a derelict 17th-century plantation house, where, at one stage, limes were farmed for Rose’s Lime Cordial. My son found out it was for sale, and I bought it on the basis that, when something’s a snip, you’d better not argue.’

And so the Jalousie Plantation was born, with rooms based in cottages in clusters around the resort, managed by butlers employed from the local community. The hotel has since had a variety of owners – with mixed fortunes. ‘Essentially, it’s turned from Perrier water to soda water to tap water, but the best chance for it to succeed is now,’ says Lord Glenconner. He’s referring to the fact that the 192-acre Jalousie estate – where 24 varieties of mangoes grow – is now in the hands of Roger Myers, founder of the Café Rouge restaurants. Mr Myers was tempted out of retirement when the estate came up for sale seven years ago, and he’s hired the Los Angeles-based Kor Hotel Group to manage the hotel, appointed the much-admired architect Lane Pettigrew to update the cottages and design new villas for sale, and asked Lord Glenconner to take out his formidable black book.

‘Roger Myers’ ambition is to create the best hotel in the world on the best site in the world – it’s going to be chic by the shore,’ explains Naomi Cambridge, who’s in charge of villa and cottage sales on site. There are three levels of investment: one- and two- bedroom cottages, with their own plunge pools, sold on a buy-to-let basis, from $700,000; larger, four- to five- bedroom villas, which can be leased back into the hotel when not in use by owners, from $2.8million; and, finally, seven completely private, fix- to six- bedroom villas on Glenconner Beach, which start at $7million.

‘Mustique has been copied all around the world. It’s the ultimate gated community, but, this time round, I want to do something more inclusive,’ says Lord Glenconner. His eponymous beach will have an ‘exclusive without excluding’ theme, including a small village square for locals to set up shops selling Caribbean produce. ‘Most Caribbean “all-inclusives” don’t let any locals in, but I know some very wealthy people who wouldn’t set foot in such a place – they want a more authentic experience.’

This approach echoes that set by UNESCO when it chooses which sites will fall under its protection. ‘World Heritage Sites have a socio-economic aspect too,’ explains Mr Pettigrew, who lives closely to Sugar Beach. ‘They ensure employment opportunities are generated for locals, as well as regulating access to protect the site – it’s put paid to plans we’ve heard of in the past, such as installing a chairlift up one of the Pitons.’

In terms of popularity among British buyers in the current climate, St Lucia lies some way behind the favourite, Barbados, where, in the past few weeks, Knight Frank have sold a clutch of properties out of season. However, St Lucia is considerably better value – property prices are estimated to be between 30% and 40% cheaper. And sales at Sugar Beach are outperforming all the other developments on the island (some of which have ground to a halt or not even got off the ground): 39 buy-to-let villas have sold or are in the process of selling, two Ocean Residence villas have been reserved, and there’s ‘serious interest’ in three of the Glenconner Beach properties.

Mr Myers adds: ‘In a difficult economic climate, we’ve been pleasantly surprised by the level of interest, particularly in the past six months. Having said that, we’re in one of the most beautiful spots in the world, and it’s apparent to anyone who comes here that we’re creating a unique destination. Visitors love the new villas, and we’ve completed work on three wonderful restaurants, a magical spa in the rainforest and a world-class fitness facility.’

Contacts

Sugar Beach (020-8812 4773; sugarbeachvillas.com)

Glenconner Beach (020-8812 4763; glenconner.com)

Irish Examiner

Saturday, August 15th, 2009

Caribbean Sugar Beach villas a sweet reward

The World Bank has placed St Lucia among the top 30 countries in the world in which to invest, making it the only Caribbean country on the list.

Some of this may be down to the fact that it remains one of the most reasonably priced islands in the Caribbean for property acquisitions, with real estate costs 40% less than neighbouring Barbados.

The south-western corner of the island is generally considered its most exclusive area. Here you will find the Jalousie Plantation Resort which is currently undergoing a transformation aimed at making it the best 5-star resort in the Caribbean.

The resort is located on a crystal white sand bay between the island’s iconic Piton Mountains on a protected UNESCO World Heritage Site. It is currently the venue for a massive $100million redevelopment programme due to complete in 2011.

On completion the resort will be managed by the Los Angeles-based Kor Hotel Group, operator of The Tides, an elite brand with resorts in some of the world’s most desirable locations.

The Tides Sugar Beach Resort is to contain 85 luxurious state-of-the-art villas, which are currently under construction in phases. The villas are being sold as freehold buy-to-let investment properties, giving owners four weeks usage per year and offering a percentage of the hotel room profits.

The resort’s owners will receive a 37.5% share of the total room revenue, taken without deductions, which will be pooled and divided pro-rata. The proportional split, based on the original property sales prices, will remain the same regardless of any future price increases.

There is a guaranteed minimum rental return of 5% per annum for the first year after handover of the completed villas. The government has also granted investors a 1q5-year holiday on income tax and a 50% waiver on property tax for 5 years.

Occupancy at the resort for the last two years it was open averaged around 80%. The developers expect this figure to rise once the resort is brought up to five-star international standards and The Tides takes over management of the resort.

The owners say they are not reliant on bank finance, so completion of the development will not be dependant on villas sales.

Prices range from $700,000 (€486,600) for a one-bedroom villa, with two-bedroom villas from $1,310,000 (about €910,600). Each villa is sold fully furnished and comes with its own private plunge pool and ocean and/or Piton views.

For further information contact +44 208 812 4773 or visit www.sugarbeachvillas.com

Robb Report Vacation Homes

Wednesday, August 12th, 2009

Home sweet home

One of St. Lucia’s most promising resort developments gets rebranded as the Tides Sugar Beach

Text by: Nancy Wong Bryan

When Kor Hotel Group, owner of the Viceroy hotels, completes its $100 million renovation of St. Lucia’s Jalousie Plantation, the resort will be reborn as Tides Sugar Beach, the first Tides-branded property in the Caribbean. The resort—which intends to remain open as the Jalousie Plantation until its transition into the Tides is completed in December 2010—is located on a 192-acre parcel of rainforest and white-sand beach with a front-row view of the Pitons, two volcanic cones that jut up more than 2,300 feet from the sea. Diving and snorkeling are particularly popular here, as coral reefs cover nearly 60 percent of the surrounding marine area.

Redesigned with a chic beachside style while preserving the plantation vibe of its former incarnation, Tides Sugar Beach will have five new 1,852- to 3,600-square-foot detached ocean residences for sale. The three- and four-bedroom ocean residences are freehold properties with wood floors, large living and dining areas, shaded terraces, and private pools. Residents can enjoy Tides’ signature butler service, as well as the resort’s amenities, which include four restaurants, a beach lounge, a fitness center, and a spa.

Ocean residences from $2.8 million to $5.5 million; 800.235.4300, www.thejalousieplantation.com, www.sugarbeachvillas.com

Fly2let.co.uk

Sunday, July 26th, 2009

New St Lucia Fly to Let villas attract advanced rental bookings

The renovation of 85 hotel cottages into luxurious state-of-the-art Fly to Let villas at The Tides Sugar Beach resort in St Lucia is progressing on schedule.

Fifteen contemporary colonial-style villas are now finished and are already receiving guests. 37 have been sold to private buyers and more than 50 are expected to be completed by the end of this year.

The Fly to Let investment villas are part of a $100 million programme to rebuild the Jalousie Plantation on the south western tip of St Lucia into one of the best 5 star world-class hotel and residential developments in the Caribbean.

Two areas of the resort are now finished. The villas are arranged in clusters of between six and 15 properties set in verdant vegetation. Cluster 700 is made up of four one-bed villas, starting from $700,000, three one-bed deluxe villas and two two-bed superior deluxe villas starting from $1,510,000. There have been many advanced rental bookings and the villas in these clusters are already running at full occupancy.

Cluster 900 is made up of three two-bed superior villas and three one bed deluxe villas. All the villas have their own private butler service and including colonial fretwork, four-poster beds, air conditioning, flat screen TVs and iPod stations, spacious showers, claw foot bathtubs, walk-in wardrobes, plunge pools and luxurious linens.

Cluster 800 which will incorporate one bed villa, eight one bed deluxe villas and three two bed superior deluxe villas (from $1,510,000) is currently under construction and due for completion in October 2009. Work on Cluster 500, which started at the beginning of March, is expected to be completed by the end of this year.

The resort will be officially re-branded The Tides Sugar Beach when it is completed in 2011. It will be fully managed by Los Angeles-based Kor Hotel Group. Other facilities include a spa, restaurants and beach club.

The resort is located between the St Lucian Piton Mountains, on a protected UNESCO world heritage site. Buyers at Sugar Beach have been assured that no further building permissions will be granted on the 192 acre site.

The rainforest walkway is also open. St Lucia’s Director of Tourism, The Honourable Senator Allen Chastanet took a tour of the resort in February 2009 and officially opened the walkway for the resort’s Rainforest Spa.

The rainforest walkway will connect to a series of private treatment cabanas as part of the Tides Sugar Beach Rainforest Spa. The Rainforest spa will offer holistic wellness programs which use sustainable, marine-based spa products and treatments which embrace the style and spirit of the island.

The private treatment cabanas, which will be dotted through the lush rainforest at different heights allowing varied views of the spectacular surroundings. Construction of the cabanas will start at the end of 2009.

Marco Bonini, Sales Director of Sugar Beach said: “Work at The Tides Sugar Beach villa renovations, the hotel facilities and on the construction of the beautiful rainforest spa is progressing well and on schedule.

“In 2011 when the project is completed there will be nowhere else quite like The Tides Sugar Beach with its luxurious properties, accommodation and facilities set within the unique setting of the UNESCO protected Pitons.”

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.”