Posts Tagged ‘UNESCO World Heritage Site’

Money Observer

Thursday, July 29th, 2010

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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.

Destinations of the World

Friday, May 7th, 2010

UNESCO World Heritage status assures most sites a steady stream of tourists, but with their tourism dollars comes the challenge of maintaining the site for future generations. Megan Wynes reports

From the moment the United Nations Educational, Scientific and Cultural Organization (UNESCO) agreed on an international treaty – the Convention concerning the Protection of the World Cultural and Natural Heritage – in 1972, tourists have flocked to sites inscribed with World Heritage status. So much so, that travel companies the world over have seized on this increased interest, and geared tours and developments to appeal to travellers looking to tick their way down the World Heritage List.

This might not have been the original intention of the Convention’s founders, who tasked themselves primarily with the preservation of these sites for future generations, but tourism has become something of a necessary evil for many project managers, local governments and, indeed, for the communities surrounding the sites themselves.

“[Tourism] is an industry with well known costs, but also with the potential for aiding protection efforts,” says Francesco Bandarin, director of the World Heritage Centre.

There are currently more than 890 of these cultural and natural sites worldwide that are afforded the protection of the UN and its agencies, regardless of borders, ownership titles or international political wranglings. From the crystal blue waters of the Caribbean, to the peaks of the Rocky Mountains, the Daintree Rainforest in Australia and the ancient streets and temples of rural China, the range of sites included on the list is staggering. As, of course, are the long list of problems and challenges associated with their maintenance.

The very variety of sites worldwide and their increasing number is a problem in itself. Just how can UNESCO, or any entity for that matter, pro-actively manage every detail of a site’s management? The simple answer is that it can’t, until there is an interplay between the UN and the individual governments, tourism boards, developers and communities with an interest in the site.

The World Heritage Convention, as a legal document and means of addressing these groups was the first step, giving UNESCO the diplomatic power to ask government’s to reconsider money making schemes that may negatively impact the Outstanding Universal Value of the site (the reason for which it was inscribed in the first place). A cable car concession up the side of Machu Picchu is one of our particular favourites; consigned to the crazy idea pile some years ago, thanks to UNESCO. A set of recommendations on managing tourism at these sites came next. These were intended to be a practical set of instructions for World Heritage Site managers as to how they should handle sustainable tourism development in their given area.

One of the men responsible for tourism and visitor management issues, Arthur Pedersen, programme specialist at the World Heritage Centre, is very clear about its message.

“There’s a suite of activities that both the site and the tourism industry, including hoteliers, should be doing,” he says.

“What we’d like to see is more of an interchange between the site management, local authorities and the tourism industry, so that they start talking about the issues involved.”

So why is this interchange still a problem after nearly 40 years of the Convention’s existence? Well, again, there’s a simple answer. Up until now, the amount of attention paid to UNESCO’s recommendations, and for that matter those of other organisations involved in sustainable tourism issues, has not been consistent. “We really need to start getting serious about demonstrating how these sustainable processes need to work; all the key constituencies need to speak the same language,” says Pedersen.

At present there are too many individual entities involved, ie local governments, tourism boards and resort developers, each of which has focused on representing its own interests, regardless of, and in isolation of, each other, and usually to the detriment of local communities (particularly in developing countries). They need to be in sync.

“The multi-faceted nature of tourism development makes it almost impossible to bring all of the players together at the right time,” says Lyndall De Marco, sustainability firebrand and adjunct professor with Griffith University’s Business School, Brisbane.

Sustainable practices have varied at sites around the world, with many areas seeing such a boom from inscription on the list that they simply did not have time to follow recommended processes, such as a strategic plan for tourism development. In addition, strategies put in place 40 years ago, today simply cannot effectively manage increasingly large numbers of tourists.

“These plans need continual monitoring to see if targets are being reached, and if they’re not, decisions must be made about what actions need to be taken to get the programme back on track,” says Pedersen.

Many of the sites on the list, though, just do not have access to sustainable tourism professionals and individuals with the expertise to manage these sites effectively. “It’s very rare that there are people available with the necessary expertise, particularly in the developing world,” says Pedersen. “What is needed is a definitive guide written by the industry, for the industry, with the input of UNESCO,” says De Marco.

“One for developers, one for hoteliers, one for tour operators, one for cruise liners, etc, what is available now is too generalised.” There are, however, a number of luxury hotel/resort groups worldwide leading the charge, with active programmes in place for the preservation of these outstanding areas and, in turn, the inclusion of local communities in the preservation of these sites for future generations.

IN THE LIMELIGHT
A new development taking place on the island of St Lucia, within the Val des Pitons World Heritage Site, provides the perfect example of what can happen when an interchange between the local authorities and the owners and developers of the resort takes place.

“The hotel owner and managers have forged extremely close relationships with Pitons Management Area (PMA) officials, the Soufriere Foundation, the Soufriere Marine Management Area, local and national government officials and agencies, and continue an open dialogue about the issues and concerns affecting the integrity of the World Heritage Site,” says Naomi Cambridge    , villa sales director, Sugar Beach Villas. “Education and communication with local agencies is vital in safeguarding the area’s status.”

Situated within the famous Jalousie Plantation – the original home of Roses lime cordial, and celebrity playground of the 1970s and 1980s – the development of Tides Sugar Beach is taking shape. Managed by the Viceroy Group, and owned by Roger Myers (of Rolling Stones and Café Rouge fame), the resort is being sympathetically constructed within the limits of the old plantation resort.

Val des Pitons, always a draw for tourists to the island, is a relatively recent addition to the World Heritage List, thanks to the tireless work of former owner, Lord Glenconner – owner of Mustique – who still lives on the plantation.

This sense of passion for the preservation of the area, and its natural beauty, is something that the resort takes very seriously. From the moment the plans for the new development were announced, locals and the authorities alike were concerned. This area, with its natural volcanic springs and healing sulphurous muds is one of the island’s key selling points.

“It means we must tread carefully to ensure our operations are mindful of the environmental importance of the area and do not unduly impact the integrity of the World Heritage Site,” says Lisa Basire    , villa marketing director, Sugar Beach Villas.

“This, of course, brings challenges as we must work within the UNESCO World Heritage Site guidelines, while at the same time ensuring balanced development for the area with all of the associated benefits this brings to the local community and, in turn, the site as a whole.”

Without tourism, St Lucia simply would not have the resources to protect this very sensitive site, and every visitor to the site is made aware of their individual contribution.

“Every guest who scuba dives in our marine reserve pays a fee to the Soufriere Marine Management Area for ongoing monitoring and scientific projects aimed at protecting the biodiversity of thee important coral reef systems,” says Cambridge.

“Every tourist who climbs the Gros Piton makes a contribution to the development of young people in the village of Fond Gens Libre, who are taught about the importance of the Piton Management Area and its World Heritage designation.”

Tourism also directly funds the salaries paid to local staff. “Ninety-nine per cent of people employed at The Jalousie Plantation are local St Lucians,” says Andre Boersma, hotel general manager. “Each and every individual has a stake in the responsible operation of the hotel in such a sensitive location.”

The area’s unique ecosystem has been a driving force in terms of the layout and design of the resort, with every stage planned in meticulous detail. Nothing about this development is being rushed, and in true Caribbean style, everyone is taking their time to make sure the development makes as little impact as possible.

“Constructing in a World Heritage Site is probably the best case for using true eco-design principles, which is exactly what we are doing at Sugar Beach,” says Lane Pettigrew, chief architect at Sugar Beach Villas and architect laureate of the Caribbean.

“We have sited each building in an area where there is absolutely no damage to existing flora. We have nestled small, low impact, single-storey units into the natural topography, carefully directing drainage and circulation.”

Local workmen have also been used throughout the site, with traditional building techniques used where possible, such as hand chipping indigenous stone for foundations and cladding with timber frame construction using only woods from certified reforestation programmes. The resort’s new spa has also been sympathetically constructed in true St Lucian style by local Rasta craftsmen and resembles a collection of tree houses, hidden within the dense vegetation of the surrounding slopes.

“There is a conscious effort to retain mature vegetation and ground cover, chiefly to ensure the flora on the site is not adversely impacted,” says Cambridge. “This also means erosion and run-off have been effectively controlled with no run-off reaching the National Marine Reserve that fringes the resort’s beach.”

WORLD OF CHOICE
Orient-Express, with properties at Luang Prabang, Vietnam; Iguassu Falls, bordering Barzil and Argentina; San Miguel D’Allende, Mexico; Machu Picchu, Peru and Siem Reap, Cambodia, is very conscious of its huge responsibility.

“People will always want to visit these sites,” says Pippa Isbell, vice-president corporate communications, Orient-Express. “The very fact that they are designated World Heritage Sites creates demand. Given that, we think it is better to engage and support sustainability initiatives, in order to preserve them for future generations.” The company is fully aware that there is no cookie-cutter recipe for success and, as such, each property is managed in a different way. Orient-Express leaves the day-to-day running of its sustainability operations up to it’s general managers and their executive team.

“The important thing is to have a close relationship with the local body that administers the [UNESCO] guidelines, and to be flexible when they change,” says Isbell. “We always work within local and national construction and operational guidelines, and any construction requires permits, sometimes with special conditions.

“For example, when we refurbished the Machu Picchu Sanctuary Lodge, we were not allowed to take heavy machinery into the site, so a lot of work had to be done by hand.” In this sense, local authorities have a direct dialogue with Orient-Express regarding the management of these precious sites and, working with the local community, the group actively maintains a reciprocal relationship.

“Most of our properties have community support projects, and we are working towards every single one having a programme that supports local people, local charities or local needs.

“At Machu Picchu, we use a plot of land to teach local people how to produce the vegetables we need for the hotel restaurants, then they grow them on their own land, and we buy produce from them.

“In Iguassu National Park, we operate to ISO 14000 standards and support a project to sustain the wildlife park, while in Siem Reap, we donate to local hospitals.”

PARK LIFE
Another sustainability champion is Fairmont Hotels & Resorts, whose properties within Canada’s Banff Springs National Park have long wrangled with daily responsibilities of managing and conserving an UNESCO World Heritage Site.

“From a business standpoint we definitely need to be more aware of how we run our business,” says Lori Coté, regional director of public relations for The Fairmont Banff Springs and The Fairmont Chateau Lake Louise.

“We constantly have to watch and maintain a strong working relationship with Parks Canada. Everything we do goes through them first, and we’re very fortunate to have them as our conscience to remind us of how things should be done,” says Coté.

This partnership with local authorities, along with Fairmont’s ongoing internal Green Partnership Program, outlines the group’s continued commitment to sustainable tourism. Every property within its portfolio, not least those found within protected areas, has been required for some years now to monitor its daily operations, focusing on improvements in the areas of waste management, energy and water conservation, as well as a strong element of community outreach through local groups and partnerships.

OK, well that’s the spin, I hear you say? Well, no, in this case Fairmont is a company that actively practices what it preaches. “We put volunteer hours back in to the community, and we also fund local not for profit organisations, such as the YWCA and the local food bank, for the benefit of the local community [in Banff],” says Coté.

“We can definitely act as a model for other businesses, to see how we, as a large hotel and golf course, can work within a UNESCO World Heritage Site successfully.” With 768 rooms, The Fairmont Banff Springs has a huge amount to do to maintain a sustainable working environment and, that said, it’s impossible to argue that such a large property would not have a considerable impact on the surrounding environment. But, at least it seems Fairmont are fully aware of their charge.

“The fact that we’re within a national park and listed as a UNESCO heritage site gives us an advantage, but it’s a responsibility we take very seriously.”

LIVING HERITAGE
Heading east, Banyan Tree Hotels & Resorts has a completely different approach, and has literally immersed itself in the community of Lijiang, in the Yunnan Province, China.

“Through the design and architecture of our resorts we promote the uniqueness of indigenous cultures, hence we have taken much inspiration from the historic Lijiang Old Town, a UNESCO-designated World Heritage Site,” says Michael Kwee, co-ordinating director, Banyan Tree Global Foundation Limited.

The town was declared a UNESCO World Heritage Site in 1997 for its ethnic charm, historical milieu and architectural landscape. “Regulations guiding development on the site were strict, and local authorities provided official comments on the design. “As much as possible, local [Naxi] workers were given the freedom to utilise the age-old techniques they are familiar with,” says Kwee. Of course, modern fixtures and fittings have had to be installed as well, but all with a sustainable model in mind.

“Water savings measures included fitting low-flow taps and showers, implementing rainwater runoff water collection. While in terms of waste management, we recycle green waste, plastics, metals, paper, rubber and glass,” says Kwee.

“The resort uses solar and hydro-electric power, so creating few emissions from fuels.”

Community projects are also a key focus at the resort. More than 90 per cent of the workforce have been sourced locally, and various hospitality and spa training initiatives have been implemented that benefit the local population.

“Banyan Tree defines success not just financially, but also socially and environmentally,” says Kwee. “It does not make sense for us to compromise so that our long term investment in a hotel property is undermined by short-sighted management of our own operations.”

Indeed, UNESCO are quick to agree, while also sounding a note of caution.

“The Banyan Tree development needs to ensure it has a positive effect on the local population, but also a positive affect on nearby rural areas,” says UNESCO’s Pedersen. “Hotels can also play a positive role in promoting the goods and services in communities, such as the Tibetan minorities found in the nearby Three Parallel Rivers area. “If a mechanism is in place to plough back the money made from crafts into these communities, then tourism can play a positive role in engaging local communities.” It seems that the biggest problem with such developments, in undeveloped areas, is the level of ignorance on the part of the hoteliers to what is out there, in the local markets, in terms of products according to Pedersen. All of which could be used in the hotels themselves.

SMALL WONDER
Another resort taking this policy of community inclusion seriously is the Daintree Eco Lodge & Spa in Queensland, Australia. Comprised of just a few rooms, nestled in the heart of the UNESCO World Heritage Daintree Rainforest, the resort is proud of its sustainable ethos.

“The lodge was built to very strict guidelines, and, therefore, the operational side of the business already adheres to UNESCO guidelines,” says Corinne, Daintree Eco Lodge & Spa.

“Any future development will be in consultation with the local Kuku Yalanji Aboriginal people (who inhabited this land for thousands of years prior to European settlement).”

A reassuring claim considering the often frosty relationship between developers and Aboriginals in Australia. “We purchase, as much as possible, our produce and other good and services locally,” says Corinne. “And our employees are largely local including indigenous community members.” The resort is also careful to monitor the impact that its operational activities have on the surrounding ecosystem.

“On site we have our own natural waterfall, where all the retreats’ water is fed from,” says Corinne. “Guests are experiencing pristine natural water at its best, and water is only temporarily diverted for use in the resort.”

BRIGHT FUTURE
With all of these developments, the chief concern is preservation and maintenance of these sites for future generations to enjoy. It’s most often a case of simple sound business; it doesn’t make sense to damage your chief source of income. So these resorts must act as custodians of these sites, and protect them from harm. Yes, this is a difficult, and expensive, task. Millions of people already travel to UNESCO World Heritage Sites each year, and the numbers will keep rising. Dealing with this growth is not easy, but with the right plans in place, rapid development needn’t be a threat.

“Tourism development that meets the needs of present tourists and the host regions, while protecting and enhancing opportunity for future growth,” is how the World Tourism Organisation defines sustainable tourism.

This is an ongoing process, but it is possible, as demonstrated by the resorts mentioned. “Without the contribution from the private sector, many of these World Heritage Sites would not have a preservation plan,” says De Marco. “I believe the private sector is more than willing to comply if they are supplied with detailed and constructive guidelines.”

UNESCO’s Bandarin hits the nail on the head. “By learning to tread lightly on the Earth, not only are we ensuring the future of World Heritage Sites, but also the future of tourism.”

Wise words indeed.

Caribbean Property Magazine

Thursday, May 6th, 2010

Sugar Beach REFINED

Situated on the South-West coast of St Lucia, the celebrated Jalousie Plantation has been a favourite for discerning travellers for a number of years. In keeping with its reputation as a world-class retreat, The Jalousie Plantation is continuing with its quest for perfection by investing in a transformation that will reinforce its standing as the most magnificent real estate opportunity on earth.

“The major redevelopment if the Jalousie Plantation is already creating a lasting impression amongst returning guests,” says Naomi Cambridge, Sales Director. Stunning new bars and restaurants (sublime in every detail), richly embellish the experience of hospitality.

These inspired additions include Beach Restaurant and rustic Beach Bar set between the graceful Almond trees, the futuristic Cane Bar (with its cosy Late Night Bar) and of course the piece de resistance, the Rainforest Spa. This outstanding facility features tree-house treatment rooms, situated in a lush, jungle setting, overlooking a pristine natural waterfall. Many of our sales have been generated by guests who initially came to visit, but then fell in love with the resort and subsequently bought the villa as a result.”

On completion, the resort will be managed by internationally acclaimed “The Tides” (owned by the Los Angeles-based Viceroy Hotel Group), administering their signature sophisticated, yet informal style and re-branded as “The Tides Sugar Beach” – opening in 2011.

Part of the unobtrusive $100 million redevelopment is the transformation of the hotel accommodation into 85 luxurious, fully-furnished, freehold hotel villas with expansive ocean, Piton and rainforest views. Each villa can count on the qualities of its own private butler service and other outstanding details such as exceptional finishes including colonial fretwork, four-poster beds, air conditioning, flat screen TVs and iPod stations, spacious walk-in showers, claw foot bathtubs, lavish plunge pools and luxurious linens. The 85 villas form part of the hotel rental pool, affording owners four weeks free usage and a revenue split of the rental return, guaranteed at a minimum 5% net ROI from now until the end of the first year of operation of Sugar Beach. With built villas available for immediate purchase, this could be for up to three years. Prices start at US$610,000 rising to US$2,100,000.

Within the tranquil grounds of Sugar Beach, you’ll find thirty-one Private Residences which let you live out your dreams of a private island getaway, whilst taking advantage of the luxury that only an exclusive resort can afford. Taking their cue from the plantation houses of a bygone era, these exceptional two, three or four bedroom residences include a full gourmet kitchen outfitted with the latest equipment, beautiful hardwood flooring, Jalousie shutters and expansive outdoor living areas complete with large swimming pools. All have spectacular ocean and Piton views and are available from US$2,300,000 to US$6,000,000.

If as an owner you wish to rent out your Private Residence then rest assured, The Tides will manage your affairs, providing the best of all worlds; the seclusion of an island paradise, international marketing and management expertise (to enhance the rental when not in use) and exceptional facilities just steps away. A signature of the service The Tides provides are the ‘Personal Assistants’ who intuitively anticipate the needs of the guests, taking enormous pleasure and pride in delivering a service that is second to none.

Located adjacent to the resort, but set in its own exclusive community, is Glenconner Beach. It is here that you will discover five large majestic homes, whose inspired architecture is reminiscent of modern estates, reflected in some of the world’s most elite destinations – setting new standards for modern Caribbean living.

Each has between five and seven bedrooms and is priced at US$7-US$9m. Award-winning RIBA architect Lane Pettigrew’s designs showcase the very best of the indoor-outdoor living style so suited to the Islands. Four of the residences are positioned directly on the beach, ensuring uninterrupted sea views. The fifth residence, set on the idyllic hills above, has panoramic views out to sea and features steps leading down to the white sand beach. The exteriors offer a modern take on the distinctive French colonial style but can be designed to the owner’s bespoke specifications.

Lane Pettigrew says, “There is nothing comparable to these houses in St Lucia. If you were to look for something similar in Barbados, the market value would be at least £17m.”

Lisa Basire, Marketing Director of Sugar Beach Villas agrees. “Buying a similar property in Barbados in comparable terms of beachfront location with the proximity to a 5* deluxe hotel and use of all its facilities would be far more expensive. Furthermore, Glenconner Beach is being sold on a freehold basis which is extremely unusual in St Lucia as beachfront land is almost always owned by the Government and has to be leased from them.”

Lisa continues, “There is no VAT, Capital Gains, Inheritance or Estate Taxes in Saint Lucia and the Stamp Duty of 2% is only payable on the land if construction has not started on your particular villa. The Saint Lucian Government has also granted buyers at any of the three offerings a 15-year holiday on income tax and a 50% waiver on annual property tax for 5 years. More importantly, the developer is not reliant on bank finance to complete the development; therefore investors’ receive piece of mind in the knowledge that the resort will be developed as planned.”

However, what distinguishes Glenconner Beach and Sugar Beach from other exclusive developments in a truly unique location. Nestled on the shores of a picturesque bay, separating the iconic Piton mountains, investors are captivated by ‘an area of outstanding natural beauty’ that is a designated protected UNESCO World Heritage Site.

The Tides Sugar Beach is the vision of the English entrepreneur Roger Myers, (founder of the Cafe Rouge and Punch Tavern chains), who fell in love with the island, choosing to make St Lucia his family home more than eight years ago. Roger became sole owner of the Jalousie Plantation in 2008 and is passionate about the project, believing unequivocally that the resort’s dramatic transformation will redefine the concept of luxury in the Caribbean.

Roger says: “Our unique location attracted interest from prestigious resort operators around the world. We chose the Viceroy Hotel Group because their 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. I am certain that their brand will provide our guests and owners with a truly special experience in this inspiring destination.”

For real estate enquiries please contact: Sugar Beach: UK: +44 (0)844 921 0124 – St Lucia – +1 (758) 285 4181 e: info@sugarbeachvillas.comwww.sugarbeachvillas.comwww.twitter.com/SugarBeachVillawww.facebook.com/pages/Soufriere-St-Lucia/Sugar-Beach-Villas

City AM

Friday, April 16th, 2010

Buy a fraction of St Lucia paradise

Cash in on the new luxury villas at the exclusive Sugar Beach

Zoe Strimpel

THE Caribbean can be a paradise for second homes: but you have to choose wisely. You don’t want to end up in a tourist trap or an area that has been overdeveloped. And if buying into a new development, you want to be sure it’s managed well and properly financed.

The new residences and villas at Sugar Beach, between the magnificent Val des Pitons in south west St Lucia, are all the above and more. The bright white sand, crystalline waters and luscious nature give the location a sense of almost surreal island beauty – indeed, the area is a designated UNESCO Wold Heritage site.

The resort includes 85 luxurious, fully-furnished freehold hotel villas which form part of a rental pool, costing between $700,000 to $2,100,000 (one and two bedroom), and ranging from a spacious 1,064sq ft to 2,272sq ft, and owners are entitled to use them four weeks a year. Facilities, as per luxury hotel group owners The Tides’ five-star USP, include 24 hour butler service, three gourmet restaurants, four bars, a spa, scuba dive centre, kids club, games room, two white sand beaches and a beach club and lounge.

The genius of the rental pool villas is the return on investment owners are guaranteed: there is a 5 per cent per annum rental guarantee for the first 12 months after the hotel opening (scheduled November 2011). Owners will receive a 37.5 per cent share of the total hotel room revenue; which is then returned to the rental pool and split between owners according to the purchase price of the villa.

The resort also includes 31 Private Residences, with five ultra-exclusive homes at Glenconner Beach. They range from two to six bedrooms, with prices from $3,250,000 to $9,000,000. The prices might be high but, what with the extreme elegance of the interiors and breathtaking views of the Pitons and the ocean, they are actually quite reasonable: a comparable villa in Barbados would be 30-40 per cent more expensive.

If you’ve been dreaming of a second home in the sun, Sugar Beach should be top of your list of ways to make the dream a reality. For more info, see www.sugarbeachvillas.com or call 0844 921 0124.

Financial Times

Saturday, November 28th, 2009

The long view

By Nicola Venning

The Caribbean tree frogs and geckos that provide a noisy night-time choir in St Lucia have not been the only ones with something to shout about of late. The tropical Windward island of dramatically varied and striking beauty has been shedding its wedding-and-sunburn image and is following in the footsteps of other Caribbean islands by pursuing a plan of upmarket mixed-use (to own and let) luxury second homes and hotels.

“We want another 5,000 rooms over the next 10 years and the majority will be near the international airport [Hewanorra in the south] like Sugar Beach,” says Allen Chastanet, St Lucia’s minister for tourism.

Sugar Beach is a five-star renovation of the former Jalouise Plantation Hotel which is in Val des Pitons – a hummingbird-filled subtropical valley that is part of the Unesco World Heritage Site around the dog-toothed volcanic plugs of the Gros and Petit Pitons. The hotel is the subject of a $100m project by owner Roger Myers (the entrepreneur behind the Café Rouge, Dome and Punch Tavern chains) to refurbish the hotel and turn 85 hotel cottages into elegant buy-to-let villas. Fifty per cent of these traditional colonial-style one- and two-bedroom villas have been sold. All will be in a shared rental pool giving owners a maximum of four weeks use per year. The resort will be managed by deluxe hotel group The Tides and there is a five per cent rental guarantee. Villas start from $610,000 and rise to $2.1m.

The freehold homes and the hotel are on land once owned by Lord Glenconner, otherwise known as Colin Tennant, the raffish, charming old Etonian and socialite who bought the private island of Mustique in 1958 and, with his aristocratic friends including Princess Margaret, created the first jet-set resort. Sugar Beach’s developers are clearly hoping his name will entice a similar upmarket buyer.

Even more chic and expensive are two other small developments that have use of the hotel’s amenities and are being built nearby at Glenconner’s once highly fashionable restaurant, Bang Between the Pitons. Ocean Residences comprises five freehold villas that will be on the edge of a new manmade beach – spectacularly placed at the foot of Gros Piton. Prices range from $2.8m to $6m, and owners have the option to be part of a rental pool.

Further along the beach, in a rare, waterfront or slightly elevated position, will be Glenconner Beach Villas: seven homes ranging from $7m-$12m. All the developments are due to be completed by the end of 2011.

Large colonial homes sell upwards of $15m (though property is on average still 45 per cent less expensive in St Lucia than in nearby Barbados). Estate Agency Savills is selling Gabriel House – a large colonial-style three-bedroom home set in 2.2 acres with views of the Pitons for $18m.

“It is possibly the only part of St Lucia that will get upmarket attention,” says Glenconner. “There is nowhere nicer in the Caribbean but the roads are tortuous, so if you need fun you will have to go elsewhere.”

That elsewhere, is the less hilly north of the island between Castries, the capital, and the wide sweeping, white sandy Rodney Bay. Though there are excellent restaurants and hotels in the south, the more developed – if less picturesque – north has a broader range of amenities, including the new deep-water Rodney Bay Marina, which includes slips for 30 super-yachts among its 260 berths.

Just along from the marina on a beachside strip of reclaimed land is another new development called The Landings. Here, spacious beachfront one- to three-bedroom freehold apartments are in a traditional Caribbean style and come with private moorings for 100 smaller yachts up to 50ft. Prices start from $550,000 and rise to $2.4m and a rental guarantee of 6 per cent per annum has recently been introduced for two years. There are swimming pools, restaurants and stunning views of Pigeon Island, a former pirates’ haunt.

Further inland is the Cap Estate, a hilly, cove-dotted peninsula that includes one of the island’s main golf courses: St Lucia Golf Resort and Country Club as well as many luxury homes. At Mount du Cap, 16 plots of land are for sale and owners can design their own villa with pool. The cost, including landscaping, is about $2.5m.

Smaller and less expensive is neighbouring Cap Maison, a Spanish-styled boutique hotel with mixed-use buy-to-let flats designed by local architect Lane Pettigrew. The units can “lock off” – be divided to create 50 hotel rooms – with freehold ownership, nine weeks use and a rental pool. Sea views, a secluded beach and private (often rooftop) swimming pools are standard. Three out of the 22 flats remain, priced $1.2m-$1.3m. “Cap Maison is small, so the break-even point is low,” says Ollie Gobat, the developer. “For those owners in the pool, the return is potentially very strong.”

Like many second home and holiday destinations, St Lucia has not been immune to the economic downturn; a few developments have stalled and restaurant and hotel owners report lower bookings. Private residential property prices (as opposed to prices in resort developments) fell about 30 per cent between November 2008 and April this year.

In the long term, however, St Lucia has reason to be as pleased as rum punch. The World Bank recently listed it among the top 30 countries in which to invest and tourism is improving. “Arrivals are only 7 to 8 per cent down for the year, which is pretty phenomenal,” says Chastanet. “Most countries’ [falls] are in high double digits.”