ultimate escape
an isle of your own Picture this: you fling open the shutters in the morning, shake your sleepy head and look out over your domain. Secluded, sun-kissed terrace and pool in the foreground, azure ocean in the middle distance, palm-fringed beach a few minutes away. Another day, another luxury resort, right? Not quite. For a few oligarchs, aristocrats and supercelebs, this is home. Their very own Caribbean island. It could be yours, too, provided you have the desire to live out a fantasy of private luxury. And a habitable island can be a worthwhile asset, too. The cost The real-estate market for this kind of Caribbean hideaway is concentrated on the Bahamas and
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the British Virgin Islands (BVI). Other places to look are St Vincent and the Grenadines, Turks and Caicos, Anguilla and Grenada. Prices, though relatively stable, have sunk significantly post-downturn. It’s a buyer’s market, especially in the Bahamas, with its thousands of islands and cays; property values are holding up in the BVI, an archipelago of only around 50-60 isles and islets. In the 1970s, when the investment market had yet to take off, there were few brokers and precious little media interest – the only way to get your hands on an island was to do the legwork and get involved. Back then, with luxury tourism and elite construction in their infancy, and before palm-fringed, architectdesigned seclusion was adopted
as the ultimate status symbol by Hollywood stars such as Johnny Depp, Leonardo DiCaprio and Julia Roberts, the adventurously minded might pick up for £150,000 what commands more like £30 million today. But interest is stronger than ever, and the idea of coming home to the ultimate idyll incredibly attractive.
Don Hebert www.donhebert.com
For the very last word in luxury, and the ultimate privacy, why not buy your own island? Sophie Dening takes you through the small print and explains why now is the time to invest
How to buy So, let’s say you’ve visited St Barts a few times, you like the weather, you don’t miss the city, and you’ve got the funds. Where do you start? ‘You must know what you’re looking for,’ says Farhad Vladi, founder of Vladi Private Islands (vladi-private-islands.de) and a veteran of more than 2,000 island sales. ‘Quality islands are only
Want to be all by yourself? Buck Island, British Virgin Islands, 43 acres of paradise where seclusion is guaranteed
five per cent of the market,’ he says. ‘Everything else is what I call an “adventurer island”, which means no electricity, no house – not even a hut – and no access.’ He gives would-be buyers a checklist, which includes freehold title, access, proximity to medical services, infrastructure and familiarity with local politics and climate. Seclusion isn’t for everyone, and buyers are advised to visit with their families and, once they’ve found their island, to charter a yacht and stay in the locale for a few days. ‘If you like it, buy it and use it,’ says Vladi. ‘And although you’ll have seclusion, for sure, you’re still buying into a social environment, with neighbours and an existing culture.’ He tips BVI and the Grenadines as offering some of
the most beautiful islands, and the Central American nation Belize as a good alternative, owing to its political stability and its barrier reef, the world’s second largest coral reef. Legally speaking, buying an island in the Caribbean shouldn’t differ substantially from the sort of property transactions that take place daily in mainland Europe or the US. What can be surprising is the degree of government interest. If you’re looking at an undeveloped island in the British Virgin Islands, for instance, you’ll pay a premium as a private individual, whereas an investor intending to construct a resort, create employment and reap benefits for the locale will see less official resistance and friendlier prices. ‘There’s a huge difference between FIRST LIFE | [[2R]]
ultimate escape
What’s for sale? Smiths Gore is currently marketing Buck Island, a 43-acre island in the protected lee of Tortola, the BVI’s main hub (price on application). You get a gracious seven-bedroom villa with pool, clubhouse and sports hut, docking and marine facilities, and a 1⅓-acre land base back on Tortola. Vladi Private Islands has Bonefish Cay on its books, a hurricaneproofed, all-luxe-cons, 13-acre island in the Bahamas, developed 20002006, at £9 million. The main lodge has a 28ft maple bar and soaring cypress-wood ceilings. Eight suites accommodate up to 14-16 residents, and the marine, communications and entertainment facilities are top-drawer. Among islands for sale via Private Islands Inc (privateislandsonline.com)
The ultimate home alone Ronde Island, Grenada, is on the market for £62 million with huge investment potential
are White Island, Grenada, a ten-acre undeveloped island with a guide price of £3 million; fisherman’s delight Hog Cay in the Bahamas, £1.2 million leasehold; Emerald Cay, a spectacularly developed two-acre rock in Turks and Caicos, £30 million; and 2,000-acre Ronde Island, Grenada, whose investment potential runs into billions – offers around £62 million. Try before you buy If commitment to a permanent private-island abode doesn’t fit your schedule, or if you think you’d prefer an on-off relationship to begin with, renting is the logical step. You may not get the profound pleasure of sighting land and thinking, ‘Mine, all mine,’ but the sense of adventure and seclusion will feel just as thrilling. ‘Our guests have unparalleled privacy,’ says Peter Luppi, owner of Royal Belize, a 7½-acre island popular among honeymooners. ‘Plus there’s a customised concierge service – white-glove service in shorts.’
Many islands for rent come with an all-inclusive price tag; some charge the same basic rate for exclusive use whether it’s booked for two or 12. It’s advisable to plan in detail in advance about dining and entertainment – most things are possible but not at the drop of a hat. And, like potential buyers, would-be renters should be aware of the nature of island seclusion. Mary Elizabeth Wheelis, representative for Little Whale Cay, an unspoilt 93-acre island in the Bahamas, says the utter simplicity of the environment might not suit everyone. ‘There’s a full menu of activities, but at night, you’re with the people you’re travelling with – that’s all.’ Free-roaming flamingos, a flotilla of powerboats, kindly staff, your own white-sand beaches and guaranteed privacy. Not to mention the ridiculously good weather. So, to rent or to buy? To invest or to impulse-buy? Do the research (old-fashioned expertise is unmistakable), trust in the right brokers – and you may find there’s never been a better time for island shopping.
WAY TO GO British Airways flies to Belize City, Nassau (Bahamas), Grenada, Providenciales (Turks and Caicos) and many more destinations in the Caribbean. Visit ba.com, where you can also join the Executive Club and earn BA Miles.
five of the best islands Little Whale Cay, Bahamas
Developed in the 1930s, this 93-acre island can accommodate single parties of up to 12. It’s old-style Caribbean, and there’s a nature reserve in the island’s interior. Exclusive use, from £6,200 per night all-inclusive. littlewhalecay.com Calivigny, Grenada
Luxurious and splendidly equipped for up to 20 guests, with an outdoor movie screen. Exclusive use, from £195,000 per week depending on season and number of guests. vladi-private-islands.de Eustatia Island, British Virgin Islands
There are two luxury villas, sleeping up to ten guests, on this 26-acre estate (a tiny bit of the island is leased). If you only rent one, you still get to use the communal area of the other. Exclusive use, from £15,375 per week for up to four guests, allinclusive. eustatiaprivateislandrental.com [[1L]] | FIRST LIFE
Yours, all yours Imagine landing at this lush green paradise with your pick of 40 beaches: Musha Cay in the Bahamas
Guana Island, British Virgin Islands
This 850-acre paradise has seven beaches, some of which are only accessible by boat, and an incredible variety of flora and fauna. Exclusive use, from £11,930 per night for up to 30 guests. guana.com
Musha Cay, Bahamas
David Copperfield’s tropical hideaway has 40 white-sand beaches and 140 acres of land across 11 islands, and accommodates from two to 24 very spoilt guests. Exclusive use, from £23,100 per night for up to 12 guests, all-inclusive. mushacay.com
Prices correct at time of going to press. Minimum stays and taxes may apply. Photographs: Private Islands Inc; Courtesy of Musha Cay
the family looking for their dream home and the dispassionate property investor,’ says Edward Childs of Smiths Gore land agents (smithsgore.com), which has manned outposts in the Caribbean since the 1960s. ‘In BVI, we take every committed buyer to meet the premier – the government will want to know what you’re planning to do with the island.’ Developing an island is, what’s more, logistically fraught – another reason to settle for an existing paradise.