Posts Tagged ‘Private Residences’

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.

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.