A NEW LUXURY RESORT COMMUNITY
M E D I A F E AT U R E S Volume III
A L B A NY
M E D I A F E AT U R E S Links - Playing in the Dunes The Daily Telegraph - Poulter’s Stairway to Heaven Daily Mail - Bahama Rama! Financial Times - My Favourite Home: Justin Rose Vogue - A Family Affair for Active Millionaires The Evening Standard - Licence to Thrill: The Bahamas Argyle Magazine - Island Paradise Vanity Fair - Fan Fair Country and Town House - The Moor the Merrier Robb Report Vacation Homes - Ground Floor Spear’s Wealth Management - Berth Pangs Fortune - Five New Courses to Watch Golf International - Safe Houses in the Sun
New York Times - Breaking Ground: Albany
ALBANY IN THE NEWS
mega-yacht Marina is unparalleled “Not even the names James Bond, Ernie Els and Tiger Woods can compete with the attractions of Albany’s deep-water, mega-yacht marina. It has been designed and built to aesthetically rival the world’s great resort ports.”
- Spear’s Wealth Management
the bahamas is easy to get to “When it comes to The Bahamas, “location, location, location” applies to the entire chain. If you’re keen on nightlife and gambling, you’ll have it. And pretty much everywhere are pink or white sand beaches and sparkling water.”
- Robb Report Vacation Homes
A new island getaway “Daydreaming about playing golf on an Ernie Els designed golf course amid bougainvillea blooms and fresh salt air? At play in an elegant utopia is Albany, a new 565-acre community being built on New Providence Island; set to open in 2010.”
- Vanity Fair
bahamas a playground for kids and adults “Albany is not possible for everyone, but for those who have the means to live this dream, it is simply one of the most fabulous places in the world.”
A L B A NY ALBANY
- Southern Seasons
Golf GOOD ENOUGH for the game’s best “At this resort community centered around the Albany House, featured in the remake of Casino Royale, Ernie Els sculpted massive dunes to create a links-style layout accented by native vegetation.”
- LINKS Magazine
Albany sets a new standard of luxury “Albany significantly raises the bar for residential and golf course development in The Bahamas.”
- Daily Mail
Albany will be an architectural showcase “It is rare to find a project with as many notable names as Albany, a luxury resort community that counts Robert A.M. Stern and Charles Gwathmey among its architects. Its master plan was designed by Andres Duany, known for his work on Seaside, Fla. New Urbanist community.”
- New York Times
Business-friendly Tax Haven “Tavistock has sold 80 properties at Albany, many to British buyers who are lured by the tax perks of becoming a Bahamian resident when you own a property worth more than $500,000.”
- Daily Telegraph
a true resort for the entire family “Extraordinary family amenities will include a water park, a supervised clubhouse for children and teens, and a family restaurant offering an ideal place for families to gather for breakfast, lunch, casual dinners and special events.”
- Boat International
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LINKS
Links- Playing in the Dunes
THE BEST OF GOLF
Ernie Els shows Justin Rose his latest creation, set to open this year.
r’s latest a unique, fun Bahamas COVER
Playing in the Dunes ERNIE ELS
the global golfer
Set to open in the fall, the author’s latest course design promises to offer a unique, fun links-like golf experience in the Bahamas
E
EVER SINCE WE SET UP ERNIE ELS DESIGN, WE’VE FOCUSED on quality. We get a lot of offers for new golf courses, but we accept only a small percentage of those deals, focusing on the projects that we feel have the potential to be very special. One such development is a resort in the Bahamas called Albany, which had the mark of quality stamped all over it when I first heard of the plans from developer Joe Lewis. For one thing, it will include the best of island life mixed with luxury real estate and amenities. Obviously uppermost in our minds, though, is the golf course, which we are proud to be associated with. It’s a dream plot in many ways, nestled among 600 oceanfront acres on New Providence Island. In many respects it has a links-like
quality to it, very natural in keeping with the beautiful surroundings. If you want a mental picture, think of a mix between Royal Birkdale and the Els Club Dubai. The bunkering is a particularly strong feature, partly inspired by one of my favorite types of golf: the Australian Sandbelt classics such as Royal Melbourne. Albany has five par 5s, five par 3s and eight par 4s, and the routing moves the holes through soft-form dunes, which have blowout areas and are planted throughout with native subtropical coastal vegetation. There are some native grasses, shrubs and pine to frame the course. Internally, the links-style layout looks as though it truly belongs in its landscape, especially after the slow-growing, salt-tolerant plants that we have planted mature fully.
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Construction is progressing well and we anticipate opening this fall. I have made nearly 20 site visits, and the design has evolved somewhat in that time. This was a very flat, rocky site, so creating my beloved links-style dunes was a challenge. On every visit, I would ask for the dunes to go higher and higher. “We haven’t got any more dirt, Ernie:’ the developers would say. “Well, you’ve just got to find some more;’ I would respond. I’m happy to say they were able to give us what I wanted. In my mind, the most memorable holes are the ones that are most links-like, where the greens are cut -- almost pushed back -into the dunes. The way we angled some holes means
Grounds crew at work
View of the serpentine lake at Albany’s golf course
Hole #7 at Albany’s golf course
golfers are going to have to play semi-blind shots over dunes. That’s going to be a new experience for a lot of you who are used to playing typical South Florida golf courses. But I think you will really enjoy the challenge. You’ll also enjoy the sense that each hole is very much its own theater, with just occasional glimpses of another green complex here or there—little teasers for what’s coming up. As a course architect, I get asked all the time whether I have particular types of golfers in mind when designing a golf course. My answer is always the same: You can’t afford to be that narrow-minded. Part of the art of good design is making a course playable for all types of golfers, and there are ways to do that, such as giving a lot
of thought to features like the position of the tee complexes, placement of hazards and the width of the fairways. In addition, it is crucial to have diversity of holes, especially in changing conditions. At Albany some of the par 4s can play like par 5s and vice versa depending on wind direction. The design offers a flexibility that I think works effectively. If an architect does his job well, the finished product should be a course that is a test for the best while remaining fun for other players. I want people to come to Albany and really enjoy the experience, no matter their handicap. And I confidently predict they will. L Albany’s golf course LINKSmagazine.com WINTER 2010 PAGE 2 OF 2
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The Daily Telegraph - Poulter’s Stairway to Heaven
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Saturday, February 20, 2010
{ Money matters
Mortgage news and other financial advice telegraph.co.uk/property
TELEGRAPH PROPERTY
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Poulter’s fairway to heaven A holiday home in the Bahamas is a winning move, writes Zoe Dare Hall
ago, it transformed the economy (it’s the biggest employer in the Bahamas after the government) and tourism. Perhaps Albany will do the same for the western side of New Providence. The 375 properties range from £2m to £25m, including marina-front apartments, large three-storey, four-bedroom beachfront villas like Poulter’s which start at £2.5m, and plots on which to build your own, from £1m. At an average of £1,000 per square foot, these are among the highest priced properties on the island, up to four times higher than a typical beachfront house elsewhere on New Providence. That’s not where the high figures end. Just renting a villa at Albany will cost you £5,000 a night. And for owners, there are ongoing costs of up to £55,000 a year, including service charges, utility bills and membership of the sports and leisure facilities. But those facilities do promise to be out of this world and the beach is where Daniel Craig stepped out of the water in Casino Royale. The original Albany House, which also featured in the film, will be turned into a lounge bar and five-star restaurant. While 27 major property developments in the Caribbean hit the skids during the global recession, Tavistock has sold 80 properties at Albany, 20 of them to British buyers who, in some cases, are lured by the tax perks of becoming a Bahamian resident when you own a property worth more than $500,000 (£320,000). “It has to be your permanent residence for you to apply for permanent residency. Then you pay no income tax, capital gains tax or inheritance tax and if you rent out your home, you pay no property tax for 20 years, which means it becomes a very interesting place to settle,” says Christopher Anand, Albany’s managing director. “We’ve seen an increase in interest since the UK tax law announcements and probably half of the Brits who buy here will apply for residency.”
Ian Poulter would buy a holiday home at Albany, one of the most upmarket resorts in the Bahamas. From Poulter’s £1 million family home on Lake Nona golf resort in Orlando to his new beachfront holiday home on New Providence, one of the Bahamian islands, it’s the equivalent, time-wise, of Londoners heading to the south coast for the weekend. “I can pick up my kids from school and they can be in the water park at Albany within two hours. It’s such an easy hop by plane, then a fiveminute drive from the airport on New Providence, that I’ve already started planning weekend getaways for when my house is ready in September,” says the 34-year-old golfer, who has just entered the world’s top 10. But besides the appeal of owning a home on a luxury beachfront resort, there is the investment factor for Poulter. “Albany is built by the Tavistock Group, who also built Lake Nona, so I know the kind of high quality they build,” says Poulter, who moved from a £1.5 million house in Buckinghamshire to Florida two years ago with his wife Katie. They have three children, Aimee-Leigh, seven, Luke, five and Lilly-Mae, two. “I think Albany is bringing something the island has never seen before. The facilities such as the water park, spa and marina are unbelievable and the golf course, designed by Ernie Els, will be a great test with its mixture of grass, sand and crystal clear water.” When Atlantis opened on the eastern side of the island 16 years
MC FILMS/REX FEATURES
It’s easy to see why British golfer
Joining the club: Ian Poulter likes the commute
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A L B A NY ALBANY
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Daily Mail - Bahama Rama!
Page 76 76 OVERSEAS PROPERTY
BAHAMA RAMA! Sports stars and high rollers are banking on this tax haven, says Gordon Miller
Pictures: ALAMY/REX
Daily Mail, Friday, February 19, 2010
S
MUGGLERS, pirates and loyalists to the Crown were the first to settle in the Bahamas. These days, the new wave of incomers arrive seeking leisure, pleasure and financial opportunities on the 700-odd islands and cays that make up the Bahamas.
The capital Nassau, on New Providence Island, is the heartbeat of the islands. Independent from Britain since 1973, the country has become synonymous with the ‘offshore banking’ industry. ‘The business is done in Nassau,’ says Jason Callender, vice president of Albany, a £2 billion resort community in development on the island. ‘Plenty of hedge funds and trading take place here.’ Home from home: Typical Bahamian houses with (inset) recent arrivals, tennis star Lleyton Hewitt and wife Rebecca Encouraged by a highly competiGolf-side plots start at around annually, excluding cruise ships. Lewis, owner of Tottenham Hotspur restaurants and cafes. A twotive tax regime — no income tax, £1million, with an estimated £320 football club and chairman of private Visitor numbers increased signifibedroom home starts at £1.9 million. capital gains tax, wealth tax or VAT per sq ft for build costs. holding company the Tavistock cantly since 2007, when the South — the Bahamas have become home One-acre marina beachfront plots Golf stars Tiger Woods and Group. African-born businessman Sol to wealthy individuals seeking to British golfers Ian Poulter and overlooking the ocean and marina Ernie Els are investors. Kerzner developed the Atlantis avoid high tax burdens overseas. Justin Rose are among buyers of are available at £6.7 million. Resort, on Paradise Island, linked the four-storey ‘cottages’ in phase Actor Sean Connery, tennis player Els has designed the par 72 chamOwners can choose to put their to New Providence Island by two one. Six cottages remain for sale, Lleyton Hewitt and his wife Rebecca pionship golf course at the heart of property into a rental pool, retaining mile-long road bridges that span the from £2.6million each. Building will Cartwright are among celebrities the gated community, soon to 70 per cent of the net income. Villas main harbour. be completed by September, when who own property on New Provicomprise 375 luxury properties, a will rent from £5,000 a night, accordthe resort is formally opened. dence Island, around 180 miles off spa, equestrian centre, tennis The £2.6 billion Atlantis Resort is a ing to Anand. the Florida coast. courts, fitness centre, restaurants, vast, palatial-style creation that is The next phase of development Prices per sq ft at Albany are water park, family areas, children’s ostentatious in the Las Vegas and at Albany is the marina. Designed Stretching a compact, but not expected to set a new benchmark for clubs and adult-only areas. Dubai mould. by a consortium of five New Yorkclaustrophobic, 21 miles long by the island: from £600 up to £1,300. based architects, led by Robert seven miles wide, New Providence A 26ft-high water sculpture that Albany significantly raises the bar Stern, of Robert AM Stern Island is largely flat. incorporates several winged horses for residential and golf course Architects, the aim is a mix of old However, it is the miles of beaches sets the tone. Inside, 3,500 hotel development in the Bahamas. YFORD Cay, the oldest and new, with apartments that and emerald waters that ring the rooms, a casino, entertainment resort community (first look as if they’ve evolved over time. island that are the main draw. centre, nightclubs, shops including developed in the Fifties), is ‘Our inspiration for the marina has Bulgari, Tiffany, Versace and several Sailing, snorkelling and diving are the nearest comparable at ETER SWAIN, of Golf been taken from studying what restaurants, such as Nobu, entertain appealing to visitors and locals in the £380 to £1,300. Prices at International magazine, works at St Tropez and Port the thousands of visitors who enter ‘bath water’ Atlantic Ocean. Ocean Estates Club, on Paradise says: ‘Caribbean courses Grimaud, in the South of France,’ its gilded doors. ‘The Bahamas are popular with Island, are from £500 to £1,300 per sq typically feature lush says Christopher Anand, managing U.S., Canadian and British holidayAs the global recession eases, ft for a new property. green vegetation and partner of Albany. makers looking to escape their cold development on New Providence ocean views. Next door to Lyford Cay, Old Fort winter weather,’ says Callender, a ‘But we have also looked at what Island is set to restart. On the Bay is a gated, canalside commu‘This new Ernie Els set-up is a fourth-generation Bahamian. makes the SoHo district in New York, island’s south-west coast, near the nity begun in 2002. Amenities flat, inland desert course. It’s long, and parts of London, function so established residential community of ‘There’s a direct BA flight five days include a private marina, playwith small greens and the condiwell. We concluded it’s the way Lyford Cay (where Connery can often a week from London to Nassau. An grounds, tennis courts and a tion is immaculate. communities evolve in varied be spotted on the golf course), is the airport extension should open by the basketball court. architectural styles over time.’ Albany resort community. end of 2011 and it is likely that Virgin ‘Purists will love it, but those A Mediterranean-style, 17,200 sq Atlantic will re-open a route.’ There will be 12 apartment buildlooking for a traditional tropical The £600 million marina and golf ft, four-bedroom home in a culcourse might be a tad surprised.’ ings, plus a courtyard plaza with development is the brainchild of Joe There are half a million tourists de-sac with water on two sides costs £2.6 million. ‘There’s a healthy mix of holiday homes and permanent residences,’ says Sara Callender, Old Fort Bay sales and marketing manager. ‘It’s popular with the locals — entrepreneurs, doctors and lawyers Old Fort Bay, New Providence Island, — and it’s international, too. We £2.6million have owners from Canada, the U.S. A MEDITERRANEAN-style four-bedroom house, and Britain. located canal-side at Old Fort Bay gated ‘There’s scope for homeowners to community. move within the community, to a bigger home as the family grows, and ■ FORT BAY:+1 242 362 5046, oldfortbay.com later to downsize.’ On neighbouring Grand Bahama Island, Savills is marketing Shoreline, a private community of 76 three and four-bedroom properties. On Fortune beach and set within beautiful landscaped gardens, the leisure facilities planned include seven swimming pools, tapas bar, clubhouse, three tennis courts and a Albany, New Providence Island, lake. Prices start at £536,600. Entry-level condominiums on New from £1.9 million Shoreline, Grand Bahama, Providence Island include those at THIS £2 billion resort community in Sandypoint resort, from around from £536,600 development on New Providence Island has £260,000 to £3,200,000; villas from A PRIVATE community of 76 three and top-notch resort amenities. Two to three£380,000 to £480,000. four-bedroom beachfront properties on bedroom apartments with a view of the ‘Buyers need to spend at least Grand Bahama Island. marina, ocean or golf course. £320,000 to be eligible to apply for ■ SAVILLS: 020 7016 3814, savills.com/abroad residency, which will give them the ■ AYLESFORD: 020 7349 5100, aylesford.com available tax breaks,’ says Callender.
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ON THE MARKET. . . in the lush Caribbean
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Financial Times - My Favourite Home: Justin Rose
FINANCIAL TIMES ‘You can leave your doors unlocked’ My Favourite Home: Justin Rose Born in Johannesburg, South Africa, golfer Justin Rose, 29, grew up in Fleet, Hampshire, in the UK. He will be among the players lining up against Tiger Woods as he makes his highly anticipated reappearance in the US Masters on April 8. Rose is married to Kate, a former British gymnast, and they have a two-year old son, Leo. They have a house in Lake Nona, Orlando, Florida; a flat in Putney, London; a house in Fancourt, George, on the Garden Route in South Africa; and a beachfront cottage in Albany, a new gated community on New Providence Island in the Bahamas.
With so many homes to choose from, what is the big attraction of the Bahamas? I’ve always loved to go there for a party and to hang out with friends on Paradise Island around the Atlantis hotel complex. I had a lot of friends there, so buying a house seemed the next logical step. The fact that there’s also a fantastic golf course on my doorstep helps. But now you have a little one... Yes, the wild days are over but I’m starting to appreciate the other attractions of the island. There’s a water park at the Atlantis, which is great for children, and just being on the beach with Leo gives us non-stop entertainment.
Secure ‘My dad always encouraged me to invest in property, and I’ve followed his advice.’
And you like your boats? The Bahamas is made up of about 700 islands and I’ve hardly been to any of them. I love being out on the water, and I’ve just bought a share in a boat so I’m starting to venture out and do some exploring. There so many options, which is why locals call it the boating capital of the Caribbean. I’m especially looking forward to discovering the Berry Islands and the Exumas. But there is one special island you’re rather fond of, which brings back good memories. Yes, Rose Island, which is 40 minutes from Albany. It’s really unspoilt and has a lovely beach. At the weekends, a group
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A L B A NY ALBANY
of us go out there, drop anchor, swim ashore and have a picnic or a barbecue. It’s so beautiful, and it’s a special place for us because it’s where I proposed to Kate. What is your house like? It’s right on the beach - a classic Caribbean white sand one - 15 steps from the ocean, and the downstairs is all an open plan so I can make a coffee in the morning and look out at the sea. It’s all geared around the view; there are huge windows, sliding doors and a large deck with outdoor grill. It has three storeys, four bedrooms and we’ve created a great deck on the beach where we tend to spend most of our time. There’s some brilliant
FINANCIAL TIMES MARCH 27/MARCH 28 2010
outdoor furniture and we have a big dining table out there so it’s like our second lounge - but without a roof. And the décor? It’s all very practical. Because we’re on the beach I didn’t want anything too precious. All the furniture is wipe clean, so you can come in off the beach with wet trunks and sit on the sofa and not bother. It’s modern and uncluttered, with most of the walls white, although there is the occasional splash of bright orange to liven things up. The glass staircase is a nice feature. It’s a part of a gated community, as are your homes in Orlando and South Africa. Is that an important consideration for you? Yes, as I travel 30 weeks of the year it gives me peace of mind to leave Kate and Leo somewhere safe. You can leave your doors unlocked and the children can play out on the street and there’s a great sense of neighborhood. It reminds me of growing up in Fleet and spending all my time out playing football with my mates, going off on our bikes - a bygone age. And then there are all the amenities to hand. Albany has a golf course, gym, equestrian centre, a water park, loads of pools, a family restaurant, as well as the more grown -up things like the marina, the bars and restaurants. In fact, the main restaurant is in the old houseAlbany House - that the development is named after. It also featured in the Bond film, Casino Royale, and was the home of the French cartoonist Jean Chalopin, who created Inspector Gadget. What are your other properties like? The South African house, which is about 400 km from Cape Town, is a white threebedroom cottage with a thatched roof that I bought seven years ago. Lake Nona is a four-bedroom house that has a sort of English feel. It has a slate grey roof and lots of wood detail and stonework. I
At home MY FAVOURITE THINGS
Awards and heirlooms I won the European Tour Order of Merit for the first time in 2007. I was the first Englishman for seven years to do so, and it was a proud moment. Our baby grand piano. It’s been passed down through my family and hopefully Leo can learn to play on it and have it at his own place when he’s older.
My 2008 Ryder Cup golf bag. I made my debut for the European team at Valhalla in Kentucky and won three of my four games, although we lost to the Americans. A Maurice Lacroix Masterpiece watch. I treated myself to this, and I love it. It’ll just stay on my wrist until it’s time to create another family heirloom and pass it on to Leo. Our Samsung Blu-ray player. When I’m home, Kate and I love settling down to watch a movie after Leo has gone down, and this system is fantastic.
bought that five years ago. In Putney we have a three-bedroom apartment overlooking the Thames, which is very contemporary. It’s on the ninth floor and we love going there. You can see Wembley stadium, Big Ben, the London Eye and Stamford Bridge, Chelsea FC’s ground - so I’ve jumped on the bandwagon and become a Chelsea fan. What was the first place you bought? After I’d done well in a few tournaments,
I bought a big, new, five-bedroom house in Fleet when I was 19. It was for my parents, really. We had been living in a two-up, two-down house in the town. I needed a bit more space but still liked the idea of coming home between matches. It worked well. I had the attic and a gym over the garage. My dad always encouraged me to invest in property, and I’ve followed his advice.
House & Home 3
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Vogue - A Family Affair for Active Millionaires This article was also picked and up and appeared in the property sections of the following periodicals: House & Garden, GQ and Tatler.
240 ft) 23,000 sq ft
COVERS
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Evening Standard - Licence to Thrill: The Bahamas 7
EVENING STANDARD WEDNESDAY 24 FEBRUARY 2010
Homes abroad Homes & Property
homesandproperty.co.uk
From £255,150: properties at Sandyport on popular Cable Beach include apartments and houses with private pools
Island hideaway: Albany cottages are beach-side, but town’s not far
Plots from £956,700; homes from £1.9 million: penthouse at Albany golf and marina complex. Call 020 7349 5100
Rental potential: Paul Dunkley and wife Denise bought at Albany
F
OR many, mention of the Caribbean summons images of rum bars and palm-fringed beaches —and while the Bahamas has plenty of both, its 700 islands are also full of surprises. Both geographically and culturally the Bahamas are closer to Florida than to the Caribbean, nowhere more so than New Providence, home to the capital, Nassau, and two thirds of the Bahamian population. Live there and you can access Robinson Crusoe islands by boat but on your doorstep are designer boutiques, the showy 2,300-room Atlantis Hotel and the highest-grossing Nobu restaurant in the world. Little wonder, then, that the international airport at Nassau, with direct access from London, is packed with private jets. This is a destination of choice for multimillionaire Americans who want casinos and super yachts with their soft sand beaches. It’s also attracting some British higher-rate taxpayers facing rises this April. Residents who own property valued over £318,900 pay no capital gains, inheritance or income tax.
LICENCE TO THRILL:
THE BAHAMAS
There’s no capital gains tax, income tax or worries for property buyers in the ‘Bond paradise’, discovers Cathy Hawker
SPORTSPHOTO/ALLSTAR
THE SWING’S THE THING
The rich and famous have been coming for decades. Lyford Cay was the first private residential resort, begun in the Fifties on a series of man-made canals. The 380 houses range from relatively modest bungalows at about £1.9 million to sizeable mansions for tens of millions, all set in manicured gardens and often with a rather grand boat out back. Residents, such as Sean Connery, value privacy highly. Licence To Kill was filmed among the islands. Another estate is Old Fort Bay, now selling quarter-acre plots for £414,600. And a new name is being added — Albany. It’s an ambitious development by Tavistock Group — owned by British-born Joe Lewis, current owner of Spurs — with golf professionals Ernie Els and Tiger Woods. On 565 acres on the south-west coast, they plan to create a top-end golf and marina resort with 375 homes and a boutique hotel. The setting has already featured on film: this is where Daniel
‘AMENITIES ARE WORLD-CLASS’
From £552,600: Savills is selling Shoreline, 76 new Grand Bahama beachfront homes. Call 001 207 016 3740
Craig emerged from the surf as James The rich and famous Bond in Casino Royale in 2006. CABANA OR COLONIAL? have been Albany opens in September with a golf here for course designed by Els, a 71-berth deepdecades, water marina, a 15,000 sq ft gym, a spa and equestrian centre, pools, restaurants but there’s and bars. If you want a pool cabana with good value, plasma screen TV, or a children’s water park, this is the place for you. as well as Plots are from £956,700, while millionaire 7,000 sq ft, four-floor “cottages” by the beach are £2.2 million and marina mansions, apartments cost from £1.9 million. Curto be had rently 84 properties are sold with 27 per cent of buyers from the UK including golfers Justin Rose and Ian Poulter. Thirty six properties are near comple-
007: Daniel Craig, (inset) emerged on to a beach in the Bahamas in his first Bond movie. Sean Connery has a home there Bleached: a soft, white Bahamian beach (above)
For more property overseas, visit: homesand property.co.uk
tion but while the marina is well advanced, the flats around it will not be finished before 2014. Buyers are cautious about off-plan property just now, but Albany MD Christopher Anand sold £38 million-worth last year. “Our amenities mark us out,” he says. “Second home-owners need things to do on resort and a good infrastructure off resort.” Albany will operate a rental programme, giving owners 70 per cent of net rental returns. For value, Sandyport, on the western end of popular Cable Beach, is an affordable residential area with apartments from £255,150, and 2,000 sq ft houses with pools from £382,700. On Eastern Road past Nassau’s wide, natural harbour, where colourful,
LIKE many owners at Albany, Paul Dunkley’s purchase there is not his first overseas home. “We own a property in Orlando so the Bahamas is only a 40-minute hop away,” says Paul, 51. “We plan to use it for six to eight weeks a year and then rent it out.” Paul and his wife Denise have spent £2.5 million on an oceanview cottage due for completion this summer. The low number of houses and world-class facilities made the resort a winner for them. “New Providence is beautiful with excellent boating and scuba diving,” says Paul, a businessman from the Cotswolds. “It’s a massive advantage being 10 minutes from Nassau. We didn’t want to feel trapped on a resort, plus this level of amenities doesn’t exist on other Caribbean islands.” The couple have two adult sons, Jonathan and James, who, like their parents, are keen golfers. And have they bought a mooring at Albany? “Well you have to have a boat in the Bahamas,” laughs Paul. colonial-style homes overlook the Atlantic, four-bedroom detached properties start from £446,500.
CONTACTS AND FACTS:
■ Old Fort Bay www.oldfortbay.com 001 242 362 5046. ■ Sotheby’s Bahamas www. sirbahamas.com 001 242 322 2305. ■ Albany www.albanybahamas.com — contact Aylesford International, 020 7349 5100. Albany prices include all taxes. Owners pay £9,560 a year for access to all facilities and £6,000 Homeowners Association Fees. The Bahamas has a 10 per cent stamp tax on sales, split between buyer and seller. ■ BA flies from Heathrow to Nassau five times a week.
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Argyle Magazine - Island Paradise
PROMOTION
ISLAND PARADISE BAHAMAS’ ALBANY AIMS TO BE A NOTCH ABOVE
O
COVER
n a secluded stretch of shoreline on New Providence Island’s western tip, a new waterfront hideaway is rising that is destined to be an ideal family-oriented retreat. Called Albany, the moniker is fitting for this 600-acre gated enclave named after the historic beachside estate Albany House situated in the heart of the resort community. The pink traditional Bahamian colonial mansion - known to James Bond fans as arch villain Alex Dimitrios’ beachfront home in Casino Royale - will remain an iconic landmark within Albany, serving as a chic beach club following an extensive interior refurbishment. Exceptional architecture will be a defining hallmark of Albany. So will unparalleled amenity offerings. Nothing less will do on this Bahamian island, which boasts a longstanding tradition of drawing celebrities, sporting greats, captains of industry and even royalty who have built a cache of vacation homes here. Developed by private investment company Tavistock Croup and golf legends Tiger Woods and Ernie Els, Albany pulls out all the stops, beginning with an amenity package that embraces every generation. “Albany will be the type of resort community families will visit again and again because the community abounds with activities for all ages,” said Christopher Anand, Albany’s managing partner. A mega-yacht marina, an 18-hole championship golf course designed by Els, a full-service spa and fitness centre, a beach club, a family water park, a kids’ clubhouse and an adult pool and lounge are among the amenities that will entertain Albany residents and guests once the resort community opens in summer 2010. Albany will also be home to a boutique hotel and 350 private residences, many designed by the world’s foremost architects. Whether you desire a pre-designed vacation cottage, a stylish penthouse overlooking the mega-yacht marina, a custom home with commanding golf course views, or a sprawling beachfront estate with uninterrupted ocean vistas, Albany has a residence to accommodate almost any lifestyle. The marina residences will line Albany’s 71-slip mega-yacht marina, built to accommodate vessels as large as 240 feet. The marina will be surrounded by boutique retail shops, office spaces and restaurants. No sporting paradise would be complete without an extraordinary golf experience. Albany’s links-style championship course, which measures more than 7,400 yards from the back tees, will offer one of the purest golf experiences with fairways free of residential development. “The land at Albany was ideal for creating an unforgettable experience and challenge for an 18-handicap or the very best professionals in the world,” Els said. “It’s an opportunity to create a course that feels decades old and transforms the very idea of what a modern course should look and feel like when you are playing it.” Currently under renovation, the Albany House is undergoing
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A L B A NY ALBANY
its transformation to the Albany Beach Club, which will feature an elegant dining room and second-floor lounge. A nearby family restaurant will provide an ideal place for families to gather for breakfast, lunch, casual dinners and special events. A state-of-the-art fitness complex will be furnished with a lap pool, boxing ring and best-in-class personal training equipment. The nearby racquet centre will offer lighted Har-Tru tennis courts and an indoor tennis facility. A planned 15-acre equestrian centre will accommodate various riding disciplines. The full-service spa is a Bahamian-inspired retreat outfitted with a salon and exquisite treatment pavilions. A family water park, featuring an assortment of pools, slides, grottos and waterfalls, will be an ideal place for all ages to gather. Some of the most luxurious accommodations in the Caribbean, the Albany Cottages, which form the cornerstone of the community’s boutique hotel, will feature three- to five-bedroom units with charming outdoor living spaces, private pools and gardens. Situated on the most populated and established island in the Bahamas, Albany is not only a magnificent island escape, but a convenient one, too. Albany is just five miles and seven minutes from Nassau’s international airport, which offers several non-stop flights daily from major cities. To learn more about Albany, visit www.albanybahamas.com or call 1-888-909-7001. Argyle is a quarterly, luxury lifestyle magazine produced specifically for the members of the Cambridge Group of Clubs in Toronto and Montreal, but also for readers of the Globe and Mail newspaper (the magazine is inserted in the Globe). With a circulation of 75,000 directed at affluent Canadians, regular sections in the magazine include fashion, sports and health, business, leisure, luxury and arts and culture.
Vanity Fair - Fan Fair
FANFAIR
Bahamas Bliss
D
aydreaming about swimming and snorkeling in one of the world’s largest barrier reefs? What about catching fish for dinner, shopping at high-end boutiques for embroidered caftans, curling up on a chaise and watching a favorite old movie in a private outdoor theater, or playing golf on an Ernie Elsdesigned golf course amid bougainvillea blooms and fresh salt air? If so, the Bahamian archipelago, which is made up of 700 tiny islands, is for you. Whether you’re looking to rent a private island, check into a five-star resort, or buy a piece of oceanfront property in one of several exclusive new developments, the Bahamas has it all. Herewith, the hottest spots ...
COVER Albany Architect Design Review Session at Robert A.M. Stern’s Offices in NYC
-PUNCH HUTTON
Albany Marina Penthouse Terrace, Robert A.M. Stern
A T P L AY
IN AN
ELEGANT UTOPIA
ALBANY (albanybahamas.com) Albany is a new, 565-acre luxury oceanfront resort community currently being built on New Providence Island; set to open early 2010.
A world-renowned group of architects, including Robert A. M. Stern, Charles Gwathmey, and Robert Siegel, has been commissioned to design a boutique hotel, custom homes, and grand marina residences. D I N I N G : Five restaurants, including one with a five-star rating. S P A : Full service. W A T E R S P O R T S : A 15-acre inland marina allows for everything from sailing and scuba diving to deep-sea fishing. O N - L A N D F U N : Boxing facility, kids’ clubhouse with water park, equestrian center, tennis courts, and 18-hole championship golf course designed by Ernie Els. F U N F A C T S : Albany House, the newly renovated clubhouse, is where James Bond seduced a villain’s wife in Casino Royal, 2006. Tiger Woods and Els are two of the resort’s developers. A C C O M M O D AT I O N S :
HANG OUT
WITH THE
LOCALS
RENT
STANIEL CAY (stanielcay.com) A C C O M M O D A T I O N S : Quaint oceanfront cottages of the Staniel Cay Yacht Club, starting at $162. H O W B I G I S T H E I S L A N D : Less than two square miles. D I N I N G : The bar and restaurant of the yacht club are where the Exumas
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ENTIRE ISLAND CHAIN
O W N E D B Y: David Copperfield. I S L A N D R E N T A L F E E : $32,250 per day (includes a staff of 30). A C C O M M O D A T I O N S : Five guest houses. H O W B I G A R E T H E I S L A N D S ? Just over 700 acres. D I N I N G : Private chefs. S P A S E R V I C E S : Massage therapist, yoga, and Pilates instructors. W A T E R S P O R T S : Sunfish
social scene converges. The catch of the day is really the catch of the day, and they serve real down-home dishes such as Bahamian spiny lobster and burgers. W A T E R S P O R T S : Snorkeling, fishing, kayaking, swimming with sharks, sailboat racing, and scuba diving. F U N F A C T: The James Bond films Thunderball and Never Say Never Again were filmed at Thunderball Cave, a natural fishbowl. P R I V A C Y F A C T O R : Low, but it’s not easy to get to, so it’s far from touristy.
VA N I T Y F A I R
THE
THE ISLANDS OF COPPERFIELD BAY Formerly known as Musha Cay (mushacay.com)
sailboats, windsurfing, fishing, a water trampoline, scuba d i v - ing, WaveRunners, a catamaran, and four other boats at guests’ disposal. O N - L A N D F U N : Tennis, volleyball, and badminton courts; karaoke machines; fireworks and treasure hunts. P R I VA C Y F A C T O R : Total. F U N F A C T S : There is an outdoor movie theater, and you can play on Houdini’s personal championship billiards table. G U E S T S H AV E I N C L U D E D : Oprah Winfrey, Robin Williams, and Tim McGraw.
www.vanityfair.com
NOVEMBER 2008
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Country and Town House - The Moor the Merrier
COVER
THE MOOR THE MERRIER With the megayacht business booming, demand for comparable berthing facilities is growing. Lucy Denyer checks out the latest marina developments to come on stream.
‘T
here is nothing- absolutely nothing- half so much worth BERTH PLACE Albany, a luxury beach doing as simply messing about in boats’, declared Ratty, resort development in the The Wind in the Willows. And while a talking in New Providence, is well on the way water rat might not be everyone’s biggest inspiration, (above). More modest there are plenty people out there who agree with him. prices can be found at Grand Harbor in Despite global financial meltdown, the elite yacht industry is still Grenada (right). making megabucks. In the 40-metre-plus mega-yacht bracket, there are 450 vessels being built, meaning all the boat-building yards with ‘The reason marinas continue to be a very good driver is that there are such capability are booked out until 2013. really not many berths around for big boats,’ says James Price, head “They are the must-have accessory in the wealthy world,’ says of international residential development at Knight Frank. ‘Anything Jillian Montgomery, CEO of Camper & Nicholson, the world’s oldest offering a new berth opportunity is going to have some appeal, but boat builder. “There is a huge demand worldwide.’ Small wonder linking it with residential developments too will also add value.’ And that Camper & Nicholson is moving into the big-boat league, with while not all marinas are going to be targeted at the super rich, those 50-70-metre boats, that will cost between £12m on the lesser scale will still have their appeal- an and £20m. Messing about in boats on the riveroligarch might not buy into one, but he may want ‘THERE IS HUGE bank this is not. his crew to. DEMAND FOR But where, once you have it, do you park your So where can you park your boat these days-and yacht? where will you be able to in the next few years? Top MARINA BERTHS, ‘While the number of super-yachts has more or of the pile is the Caribbean. ‘It’s wonderful sailless doubled since 2000, the development of ma- PARTICULARLY LARGE ing, and people want to sail in good climates,’ says rinas has remained limited- especially in popular Charles Weston Baker, managing director of global ONES, WHERE areas such as the French Riviera,’ says Montgomdevelopment consultancy at Savills. Property in DEMAND TOTALLY ery. ‘There is a huge demand for marina berths the British Virgin Islands (BVIs), for example, is worldwide, particularly large ones, where demand still booming- over the past eight years, real estate OUTWEIGHS totally outweighs supply.’ prices have gone up 10 per cent. The BVIs also SUPPLY’ This in turn pushes prices up. A quick glance have the added advantage of being an offshore fiat Knight Frank’s most recent Prime International Residential Index nancial centre, and boast Category 1 status for its marina- in basic says it all. While the prime residential market is starting to weaken, terms, this means the wealthiest people with the biggest yachts can the super-prime market- of properties valued at above £10m- is still moor there next to their marina properties and also benefit from tax going strong. Where is top of the pile? Why, Monaco of coursebreaks. Want to buy these? Nanny Cay, on the south side of Torspiritual home of the yacht-setter. Property here will set you back tola is the BVI’s flagship marina, where prices range from £430,000 to £3,760 per square foot- and that’s not including a berth for your boat. £630,000; 20 of the units are left all with docks attached (nannycay.
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A L B A NY ALBANY
MOOR LIKE IT Clockwise from left: Prices at Altamer rise to a huge £3.6m; Porto Montenegro is hotly anticipated; if you don’t want the Caribbean, try Eden Island in the Seychelles; Quintessentially is marketing V...Greece on the World of Dubai
com). Alternatively, Scrub Island is a brandnew private island resort, which opens in July and, as well as offering ready-built villas, will also offer lots on which you can build your own home. Villa prices start at £2.3m (scrubisland.com). There are other places to splash the cash in the Caribbean-Altamer, for example, is a development of nine ‘architectural signature residences’ that Savills is marketing in Anguilla. Prices range from £10.2m up to an eye-watering £36m. You get your own beach, pool, wine cellar and cinema, as well as private jet facilities and, of course, a megayacht marina. ‘There are five billionaires there already,’ says Weston Baker. Further along in the Bahamas, meanwhile, plans are well underway for the development of Albany, a luxury beach resort on the island of New Providence. Part of the development will be completed later this year; the 565-acre site will eventually include a deep water, mega-yacht marina with 13 dedicated apartment buildings containing about 100 units, which will range in price from £2.6m to £26m (knightfrank.co.uk/international). If the Caribbean’s not your thing but you still want hot, head to Eden Island in the Seychelles, a purpose-built, 100-acre addition to the existing 115 islands of the Seychelles, which will have 38 acres of private waterways and include a marina that specializes in accommodating both super- and mega-yachts, even those over 80m in length. Every unit at Eden Island comes with its own private mooring, either right in front of or close to their villa (savills.co.uk/ abroad). Or what about Dubai? This playground for the rich has its property Mecca in Dubai marina, where anyone who is anyone wants a spot for their boat, ‘Dubai was a desert, so anything along the boating line is seen as a luxury,’ says Hannah Rogerson, head of the Middle Eastern department of top-end search agency Quintessentially Estates. ‘It’s very difficult to get hold of water for your own little mooring, so if a property has that as an addition, it’s something to get excited about.’ Despite the sand, Dubai is trying to establish itself as the Marina Capital of the World, and an international destination for the world’s super-yacht owners, with 30,000 estimated berths being built over the next five years. If Europe is more your thing, but you want somewhere up and coming, Croatia is the place to look, says Weston Baker. ‘It is second to none in terms of sailing.’ New legislation concerning development also means that opportunities for marina facilities are opening up. The most talked-about of these is Porto Montenegro, an ex-
travagantly ambitious project that will see the former cold war naval base of Tivat, just north of Corfu, turned into one of the largest marinas in the Med, with 650 berths that include space for 130-150 super-yachts. ‘It will be specifically targeted as a home port for these yachts all year round,’ explains Oliver Corlette, managing director of the scheme. Plans are for about 100 berths to be complete by this summer; about 25 to 30 apartments are also just being released on to the market, priced between £315,000 and £1.8m -apartment owners will also get a 75 per cent discount on a berth for the first three years of ownership (portmontenegro.com). Tempted by what’s out there but don’t own a yacht? Despite the demand for boats, there are deals to be had, as cash-strapped financiers and bankers start trading in their gin palaces. Earlier in the autumn, the sellers of one of the world’s most luxurious yachts- the 164ft Alibella, offered a £8.5m discount to a buyer prepared to complete a deal within 30 days, bringing the price down to £22m. Candyscape, the floating home of super-developers the Candy brothers, can be yours for £11.7m, reduced from £13.9m (edminstoncompany. com). The yachting industry may still be booming when it comes to building the boats, but in this market, there’s always room for a bargain. Something that the modest Ratty might be more inclined to approve of.
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14
Robb Report Vacation Homes - Ground Floor
The Inside Track on the Latest Developments
Ground Floor
COVER
Albany Beach Club
ALBANY
Penthouse Robert A.M. Stern Architects (Digital Rendering)
Location New Providence, The Bahamas ABOVE AND DETAIL - The newly renovated Albany House will be home to the Albany Beach Club. Penthouse Digital Rendering (Designed by Robert A. M. Stern) RIGHT - Peering through the bougainvilleas to the Albany House
Architect Robert A.M. Stern is just one of the big names attached to Albany, a 565-acre oceanfront resort on New Providence Island in the Bahamas. Named after the historic, formerly private beachside mansion that sits in the heart of the community, Albany is a partnership between private investment company Tavistock Group and golfers Tiger Woods and Ernie Els. Albany will feature a luxury boutique hotel and approximately 350 residences that include beachfront, beach club and golf course custom homes, equestrian ranchettes and luxurious marina residences. The amenity-rich sanctuary boasts a mega-yacht marina, an 18-hole championship golf course designed by Els, an equestrian center, beach club, full-service spa and fitness center, kids’ clubhouse and family water park. The 71-slip mega-yacht marina, which will accommodate vessels as large as 240 feet, will rival the great resort ports of the world with a state-of-the-art concrete dock system, high-tech communication systems at each slip and one-touch dialing for access to resort amenities and services. PAGE 1 OF 2
A L B A NY ALBANY
Albany’s links-style championship course, which features four sets of tees measuring more than 7,400 yards from the back tees, will offer one of the purest golf experiences with fairways free of residential development. The planned 15-acre equestrian center will accommodate various riding disciplines. The beach club will serve as the heartbeat of the community featuring an elegant dining room and second-floor adult lounge. A nearby family restaurant will provide an ideal place for families to gather for breakfast, lunch, casual dinners and special events. An enclave of northside amenities centered on sports, fitness and relaxation will include a fullyequipped fitness complex furnished with a lap pool, a boxing ring and best-in-class personal training equipment, and a racquet centre outfitted with lighted Har-Tru tennis courts. A full-service spa will offer exquisite individual treatment pavilions. The Conch House, a supervised clubhouse just for kids, will offer activity centers for various age groups and appointment-based child care. A family water park will feature an assortment of pools, slides, grottoes and waterfalls. Albany’s location makes the resort community not only a perfect island escape, but an easy one, too. Located just seven minutes and five miles from Nassau’s international airport, Albany is easily accessible with several non-stop flights daily from major cities. With construction well underway, Albany is slated to open Fall 2010. From $4 million.
Contact Us:
www.albanybahamas.com info@albanybahamas.com 1.888.909.7001 or 1.407.909.5936
Albany Beach Club
3.
1.
2.
1. JW MARRIOTT RESIDENCES, LORETO, BAJA
5.
The town of Loreto was the first Spanish settlement on the Baja California peninsula roughly 300 years ago. Today it is the site of the first JW Marriott Residences property in Mexico. The project includes more than 800 feet of private shoreline and 201 condominiums. Ownership comes with an array of amenities, such as the resorts 35-set movie theater and kids’ pool waterslides and a lazy river. From $750,000.
2. CIPRIANI OCEAN RESORT
The MiMo-style resort plans to open in 2010 with 209 hotel suites fronting 600 feet of beach. Located next to the resort, a new tower – which broke ground this spring – will house 65 club Residences. From $1million.
3. W DOHA HOTEL & RESIDENCES
6.
7.
The all-glass, W-shaped structure is near the Arabian sea in Qatar’s capital city of Doha. Featuring bright interiors infused with Arabian elements, the building – comprising 291 hotel rooms and 154 rental condos – offers a poolside lounge with a hookah bar, two restraints by Jean-Georges Vongerichten, and a Bliss spa. Starting prices for monthly rentals are approximately $10,000.
4. COLOGNA DELLA VIA
8.
With a collection of 14 residences in five destinations, Resort Equities offers fractional ownership in private homes. The company’s newest property is a 500-year old farmhouse in Tuscany. Available in one-tenth shares, the home sits on 20 acres and offers views of the countryside. One-tenth shares from $450,000.
4. 5. SEAVIEW REGENCY PRESTIGE
Situated in bodrum, along the Aegean cost a favorite vacation destination for the Turkish elite thanks to its pulsating night scene and sandy beaches – the development offers 19 three-bedroom villas with modern interiors and open layouts. From $238,000.
6. THE RITZ-CARLTON RESIDENCES, ATLANTA, BUCKHEAD
The project – located just north of Atlanta’s Ritz-Carlton, Buckhead hotel – occupies the top 17 floors of a 34-story building on Peachtree Road, offering one- to threebedroom homes, as well as seven penthouses. From $600,000.
7. SANDCASTLES
The first offerings from SandCastles, a new fractional ownership venture founded by the same family that runs Villas Caribe, offers beachfront property with resort amenities. Currently, SandCastles has three properties on the white-sand beaches of Mexico, each available for one-tenth shared ownership, which grants five weeks of annual use. Their signature property, Dulce Sueños, is located within a gated resort community in Isla Navidad, Costa Alegre. From $298,000.
8. THE LANDMARK
Set amid ships, restaurants, a fitness center, and a variety of entertainment options in its forth-coming European Village, the Denver, Colorado, community has just released a new offering of brick-and-stone residences with such standard amenities as 11-foot-high ceilings and retractable glass walls that lead to rooftop decks overlooking the Rockies. From $800,000.
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Spear’s Wealth Management - Berth Pangs
There’s no point having a super-yacht unless you’ve got somewhere equally impressive to park the damn thing. Catherine Moye charts the global boom in swanky marina developments.
₤25
SPEAR’S
WMS
W E A L TH M A NA G E M E NT SURVEY.COM
a dev el o p er co u l d n his tr i ps o n to the olfer . Pl o t s a t A lbany x ury h o u s es co s t around p artm e n ts s ta r t f r om $3
on of a marina at a er-ya ch ts a n d m egaa cer ta i n p r i ce bracket v anta g e o f th a t, ’ says won d er f u l g o l f but d er fu l g ol f co u r s es ty of o p ti o n s to buy
COVER
ths, h o wev er . I n m atica l l y p u t ti n g n to ca p tu r e th e upper
about Albany. e contact:
AMAS.COM
COVER
Albany Marina (digital rendering)
I
ncreasingly, the biggest chall eng e facing sai lor s is not plotti ng a course or contro l l ing th e sail s, bu t finding a berth for their boat af ter a cru ise. Indeed, were Odysseus’s ten-year journey back to Ithaca to ta ke pl ace now, fi nd ing som ewher e to tie up would d elay his arr ival hom e mor e than enco unter s wi th Sirens or L otus Eater s. Yacht berth s are especi ally scar ce and expen s i ve i n the world’s most pop ul ar region s , s uch as th e Mediterranean an d the Cari bbean . That i s why the g rowth area in th e secon d-ho m es mark et is develop ments in whi ch you can either co me into port in your own backyard or get preferen ti al berth ing r ights an d rate s by buyi ng i nto a scheme centre d ar ound a marina. ‘Marina s have overta k en golf as the k ey dri v er at the top end of the se con d -hom es mar k et, ’ says Ja mes Price, Head of I nternationa l Residential D evelopm ent at es tate agents Knight Fran k. ‘It’s hu ge at the moment and the num ber of yacht s and meg a-ya chts
u nd er constr uction s u g gests that the d em an d for marina developments i s only going to i ncrea s e. ’ Ac cord ing to Camper & N ichol son’ s Internat i ona l L ux ury Yacht Index, ther e are ov er 5 , 0 0 0 yacht s i n the worl d ov er twenty metre s in leng th , and the f l eet i s growing . Wor l dwi de, 9 0 0 more twen t y-m etre-p l u s yacht s ar e current ly under constr u cti on , and the rate of growth i s accel erat ing , wi th speed of rel ea s e f ro m s hi pyar d s at least twi ce as fast now as i n the yea r 2 0 0 0 . Each one need s at least one con v en i ent berth , i dea l ly in an appea l ing harbo ur . Further m ore, th e boats are g etti ng bi g ger . A ‘ s upe r-yach t’ i s genera l ly def ined as a ves sel that Albany, a 565-acre oceanfront mea s ures over 2 4 resort community on the Island metre s in leng th. of New Providence in the The avera g e leng th Bahamas. of those on or der is 4 1 metre s and the
34 WMS · Summer 2008 PAGE 1 OF 3
A L B A NY ALBANY
g rowth s ector is i n the m arket for mega-yacht s: over 60 metres - and rising. Som e are now more than 100 metres lon g and ev en inch i ng towar ds 200 metres. As an indicati on of the m oney peop l e are spen ding, a 77-metre pr iv ate yacht that was lau nche d last year cos t over € 1 milli on per metre. In the pa st decade, the wor ld’s billi ona i re population has i ncreased aro u nd fou r-f old. Mega pl easure-cr uiser s hav e beco m e the waterborn e equivalent of a Manhattan pentho use or French chatea u. Tro uble is, unlik e tho se status symbo ls, they require g argantuan parki ng spaces. ‘ When marinas were first buil t in th e Mediterranean and the Baleari cs, they were made for small saili ng boats an d fishing boats,’ says Rober t Inwar ds, director of I nwar ds L td, a leading bert h brokers and mari na dev eloper . ‘Now they are getting wid er and wid er and longer and lon ger, an d they hav e to go s omewhere. ’ Paying f or a traditiona l berth is certa i nl y not
cheap . Thos e in the sou th of Fran ce can ha ve 5 0-year renewab le lea ses and rare ly beco me avai lable. ‘ Trying to rent a berth in the s outh of the France i s a ni ghtmare,’ says Inwar d s . ‘A thi rteen-year , sev enty-f i ve metre berth in Anti bes j u st sol d for € 1 4 m i l l ion , so you m i ght as wel l go ahead and j u st buy a hou se [wi th a mooring ] .’ The Car ibbean has always be en reg ard ed as a l uxu ry t rav el desti nation whose baby-b l ue sea s, sha d ed cov es and sand y bays lend them sel ves to some of the f inest and s af est sai l ing anywher e in the worl d. S om e of the reg ion’ s less dev el oped and har der-to-acce ss i s lan d s , s uch as Ang u i l la, Grena d a an d the Grena d ines , are currently mar k eting them sel v es as more el ite than Barba d os , with i ts pack ag eho l i day crow d s and cel ebri ty bore s propp i ng up the bar of the S andy Lane Hote l . Money once went handin-g lov e with decadence and ev en s inf u lnes s. Now the way to br ing your i s lan d into econo m ic v iabi l ity is to shun the mas ses , per m it only a hand f u l of very hi gh-en d mar ina dev el opm ents and preser v e th e l andscape ’ s pr i sti ne appea l to the s uper-r ich. Albany, dev eloped by Joe L ewi s of the Tav i stock Gro up in as sociation with gol fer s T i ger Wood s and Ern ie El s (who des i gned its course), i s a 5 6 5-acre ocean f ront resort com m uni ty on the i s land of New Pro v i dence in the Bahamas . The heart of the resort, wher e it’ s reck oned th e bes t social -networ k ing in the Caribbean wi l l ta ke place, i s the Al bany Cl ubhou se. Thi s el eg ant colonial mans ion i s seare d onto the memory of m uch of the western wor l d ’ s fem ale popu lati on as the place wher e Daniel Cra i g em er ged fro m the water in his tanta l izing ly snu g-f itting swi m m ing tr unk s in his debut Bond mov ie C asino R oya le . Not ev en the na mes Bond , El s and Wood s can compete wi th th e attra ctions of Albany’ s deep-wa t er , mega-yacht mar ina, howev er . It has been des i gned and bu ilt to aesthet i cal ly r i val the worl d ’ s grea t resort port s . Ru mor has i t that the dev elopment’ s sca le was s et to acco m modate the founder s ’ yachts com fortab ly. T i ger Woo d s and Joe Lewi s both own v es sel s mea s ur ing over 4 6 metre s. ‘ Thi s i s not an endor sement f or me, it’ s an inves tment, ’ Woo d s says of the schem e. The chance s
Summer 2008 · WMS 35 PAGE 1 OF 3 PAGE 2 OF 3
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Albany Marina Streetscape (digital rendering) Albany Marina Streetscape (digital rendering)
a r e t h a t h i s f i r s t o u ti n g a s a d ev el o p er co u l d b e ev en m o r e l u cr a ti v e th a n h i s tr i p s o n to th e f a i r wa ys a s a p r o f es s i o n a l g o l f er . Pl o t s a t A l b a n y s ta r t f r o m $ 1 . 8 m i l l i o n . L u x u r y h o u s es co s t a r o u n d $ 2 . 6 m i l l i o n to b u i l d a n d a p a r t m e n ts s ta r t f r o m $ 3 million. ‘ W h en th er e i s th e p r o v i s i o n o f a m a r i n a a t a s ch em e wi th b er th s f o r s u p er -ya ch ts a n d m eg a ya ch ts yo u a r e d ea l i n g wi th a cer ta i n p r i ce b r a ck et a n d d ev el o p er s wi l l ta k e a d v a n t a g e o f th a t, ’ s a ys J a m es Pr i ce. ‘ A l b a n y o f f er s wo n d er f u l g o l f b u t th er e’ s n o s h o r ta g e o f wo n d er f u l g o l f co u r s es a r o u n d th e wo r l d , a n d p l en ty o f o p ti o n s to b u y i n to o th er r e s o r ts . T h er e i s a s h o r ta g e o f b er th s , h o wev er . I n cr ea t i n g th em yo u a r e a u to m a ti ca l l y p u t ti n g yo u r s e l f i n a b etter p o s i ti o n t o ca p tu r e th e u p p er en d o f th e m a r k et. ’
We invite you to learn more about Albany. For more information, please contact: INFO@ALBANYBAHAMAS.COM 407.909.7000
Albany Marina Residence Patio Morris Adjmi Rooftop penthouse Robert A.M. design, (digital rendering) (digital rendering)
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Fortune - Five New Courses to Watch
VOL. 159, NO. 5 MARCH 16, 2009
Five New Courses to Watch
Bored with Bethpage? Had it with the Homestead? These hotly anticipated projects will welcome golfers soon. - J.S.
Hole #17 Green
“Bail out” area
COVER
Tee Area
ALBANY New Providence, Bahamas albanybahamas.com
THE PRAIRIE CLUB Valentine, Neb. theprairieclub.com
CASTLE STUART Inverness, Scotland castlestuartgolf.com
THE PATRIOT Owasso, Okla. patriotgolfclub.com
It’s four hours from the nearest airport to the prairie club, but anyone who has played Ballyneal or Sand Hills understands the allure of this part of the world. Bring the big sticks for Tom Lehman’s Dunes, a wind-torn links-style course stretching more than 8,000 yards. Then test your short game against the wildly undulating greens of the par-3 Horse Course. Opens May 2010.
Royal Dornoch and Nairn will have a new neighbor in the Highlands this July. Situated next to the 16th-century Castle Stuart, the course is designed by architects Gil Hanse and Mark Parsinen. The Moray Firth, a sparkling inlet, provides a stunning backdrop, particularly on the par-3 11th, where wild fescue grasses and ragged-edged bunkers frame a massive green. Opens July 2009.
Major Dan Rooney, an F-16 fighter pilot in the Air National Guard, established Patriot Golf Day as a way for golfers to honor military service by donating to a scholarship fund for the families of those killed or disabled in action. With holes named for patriots like George Washington and Rosa Parks, the Robert Trent Jones II-designed course will wind across rolling prairie. Opens fall 2009.
LIFE 48
AT THE
The idea for Albany was hatched in 2004 when Ernie Els, Tiger Woods, and British ex-pat trader Joe Lewis put their heads together to conceive of the ideal family retreat. When 565 acres of beachfront property went on the market on New Providence Island, they made an offer the next day. Els’ firm designed the 7,400-yard course with natural coastal dunes and a crystal-blue serpentine lake. Opens 2010.
OLD MACDONALD Bandon Dunes, Ore. bandondunesgolf.com As if you needed another reason to visit Brandon Dunes, the purist golf retreat is opening a fourth course. Designed by Tom Doak and Jim Urbina, it is a tribute to Charlse Blair Macdonald, whose National Golf Links in Southampton, N.Y., is among the top-ranked in the world. Expect uphill blind shots and classic “Redan” and “Eden” par 3s inspired by the famous Scottish originals. Opens June 2009.
TOP
March 16, 2009
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Golf International - Safe Houses in the Sun
PROPERTY ABROAD ROUND-UP
Safe houses in the sun THE BAHAMAS
COVER
The elegantly understated Albany House on New Providence Island where M debriefed you in Casino Royale is now at the heart of a new luxury development. Albany is backed by Tiger Woods, Ernie Els, and the Tavistock group, who already own two of the best country clubs in America: Lake Nona and Isleworth in Florida. Due for completion in 2010, the 565-acre oceanfront resort is seven minutes from Nassau international airport and will have a boutique hotel, spa, mega-yacht marina, which can take 250-foot floating vodka palaces, and 350 residential units ranging from beachfront apartments to Scaramangastyle five-bed villas. The big sales launch is starting this Christmas, but 85 properties priced between £2.5m and £25m have already been sold. With five par threes and five fives, Els is designing the 7,400-yard course, complete with first-class practice facilities and elegant clubhouse, for those post-game martinis. The shops, restaurants and beaches should keep the next Bond girl
happy for days. Like you, 007, Albany combines classic style and innovation, with just a dash of adventure. For details, www.knightfrank.co.uk/international
THAILAND Your heroics off the coast of Phuket in The Man with the Golden Gun made quite a splash - one of the tall, erect limestone rocks thrusting out of Phang Nga Bay is now called James Bond Island. Overlooking the very same stretch of water, The Yamu will have a chic 69-room hotel and two villa developments. The 13
Memo from 007 to Moneypenny: Take time off from a Quantum of Solace to find me a safe house to hole up in between assignments- discreet, stylish and with a good course for pre-prandial play Moneypenny to 007: James, after talking to Gi’s property man, Peter Swain, here are some ideasyou know some of the locations already
Phillippe Starck-designed Club Villas, ready in November 2009, are very agent provocateur: television sets rising out of bed ends, the bathtub in the bedroom, 24-hour butler service, and infinity pools on large terraces with uninterrupted views of the ocean. There is a wine and cigar room for you, and a chocolate room for me. Imagine! The £1.25m price tag may look steep on your pay scale, but if you only use your getaway 45 days a year, you earn 45% of the gross rental on the other 320 days. There are six courses on Phuket - the two best are at Blue Canyon, one of the finest set-ups in Asia. Heavily bunkered, with water in play
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help to really create the biggest challenge, James, is the 450 caddies. They are all women. www.theyamu.com
CHAMONIX When you were dicing with death on the Chamonix ski slopes during the filming The World is not Enough, you probably weren’t thinking about the French Alps as a perfect summer and winter sports destination. As well as world class off-piste skiing and rock climbing, Chamonix has a 6,645- yard Robert Trent Jones Snr. course with views of Mont Blanc. Relatively flat for an alpine course, wellplaced bunkers and water hazards provide a challenge even for a nine-handicapper like you. For something cheerful and relatively cheap, the fully furnished apartments in Les Terrasses de Veret in nearby Flaine give you give weeks usage a year if you join their rental scheme, which hopefully pays off a chunk of your investment. At £128,000, even an M16 underling could afford a one-bed apartment. The next Electra King, though, might feel more at home in the upmarket Les Chalets de Belvoir in Combloux just down the road from ritzy Megeve. Less than an hour from Geneva airport, with a luxury spa, casino and Michelin-starred cuisine close by, the six exclusive chalets have indoor pools and private cinemas, good for reviewing past assignments. With either four or five bedrooms, the chalets are priced from £2.1m. For more information -www.alpinehomesintl.com
have their own private roof garden complete with bar, infinity pool to relax in after missions, hot tub and electric-canopy-topped rooftop bedroom where you can siesta, sleep or do whatever with whoever, under the stars, in perfect privacy. Q has installed hidden keyhold security cameras that can be programmed to take and email pictures so you can track intruders or staff within 20 seconds of their entering the premises. A bespoke concierge service caters for all tastes, even yours. Prices start at £784,000, but these are the last properties being built at Quinta do Lago, so M thinks they’re a good investment. Membership of the exclusive golf club and play on its two championship courses is guaranteed. Pinheiros Altos as well as Vale da Lobo and Vilamoura are only a short DB5 drive away. For more details, go to www.thekeysatquinta.com
SEYCHELLES Ian Fleming also stayed on Mahe in 1958, and featured the Indian Ocean island in For Your Eyes Only. The Four Seasons Private Residences, 28 individually designed villas on the southwest side of Mahe at Petite Anse, would give a special agent secluded luxurya quantum of solace, you might almost say. Perched up on the granite landscape above a sheltered bay, where you can clearly eyeball an approaching Eliott Carver-style stealth ship. Each property has spacious terraces and a large veranda that open onto wide decks, framing infinity pools. The bedroom suites should appeal to you, James- for extra privacy, they are set apart from the main living area and from each other. If you need some outdoor exercise, the resort hotel can arrange snorkeling, sailing and deep-sea fishing excursions, as well as fine dining.
THE KEYS During the war, your alter ego, Ian Fleming, liked the Casino in Estoril, but the best Portuguese courses are down in the Algarve. With its taut, angular design, the innovative Keys development at Quinta do Lago is just perfect for you. The villas at Key Lago each (Clockwise from far left) You’ll recognize this view as the setting for Scaramanga’s hideaway in The Man with the Golden Gun; Tiger Woods and Ernie Els are among the investors in Albany House, due to open in 2010; Les Chalets de Belvoir, less than an hour from Geneva airport, may well be the ultimate address in the French Alps
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(Above) The Four Seasons Private Residences on the Indian Ocean Island of Mahe (featured in the film For Your Eyes Only) offer spacious terraces and total privacy (Left) With many of Portugal’s finest golf courses in the Algarve, The Keys at Quinto de Lago are especially appealing. The villas at Key Largo each have their own private roof terrace, complete with infinity pool
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New York Times - Breaking Ground: Albany
Escapes
FRIDAY, FEBRUARY 27, 2009
GREAT ESCAPE Albany Beach Club
Breaking Ground: Albany
I
t is rare to find a project with as many notable names as Albany, a 565-acre resort community under construction on the southwest coast of New Providence Island in the Bahamas. Developed by Tiger Woods and Ernie Els, as well as Joe Lewis, the British billionaire who heads the Tavistock Group investment firm, the project counts Robert A. M. Stern and Charles Gwathmey among its architects, and its master plan was designed by Andrés Duany, known for his work on the Seaside, Fla., New Urbanist community. Plans call for 325 residences, a boutique hotel and an 18-hole golf course designed by Mr. Els. Homesite buyers
WHAT Luxury beachfront resort and residential development WHERE The Bahamas AMENITIES A golf course and a marina, among others
GOLF BUDDIES Ernie Els and Tiger Woods are Albany partners
have the option of having predesigned cottages, which will also be used as hotel rooms, built for them, or they can design and construct custom homes while adhering to architectural guidelines. The condo buildings will line the 71-slip inland marina. Also planned are multiple restaurants, a full-service spa, a fitness center with a boxing ring, a children’s clubhouse, a 15-acre equestrian center and pools, including some in a water park with slides. The Lynden Pindling International Airport is less than 10 minutes from the project’s site.
GREAT ESCAPE Albany Marina (digital rendering) Excerpt from New York Times on Friday, February 27, 2009
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PRICES Homesites start at $1.75 million, condominiums at $4 million STATUS Scheduled to open early next year DEVELOPERS The Tavistock Group, Tiger Woods and Ernie Els CONTACT (407) 909-5936 or (888) 909-7001 or www.albanybahamas.com
For more information on Albany, please contact: info@albanybahamas.com 1.888.909.7001 407.909.5936
ABOUT ALBANY Albany is a new luxury resort community nestled among 580 oceanfront acres on the southwestern end of New Providence in The Bahamas. Located just five miles and seven minutes from Nassau’s international airport. Albany is being developed by Tavistock Group, Tiger Woods and Ernie Els. A mega-yacht marina, an 18-hole championship golf course designed by Els, a full-service spa and fitness center, a beach club, a family water park, a kids’ clubhouse and an adult pool and bar are among the amenities that will entertain residents and guests when Albany opens in 2010. For information about Albany, please visit www.albanybahamas.com.
FA S T FA C T S •
Luxury resort community spanning 580 acres
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Located on the island of New Providence in The Bahamas
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Memberships available by invitation •
at $4 million (USD)
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24-hour state-of-the-art security and concierge services
Albany is a partnership between Tavistock Group,
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Seven minutes and five miles from Nassau’s international airport and private air fields
Albany is master planned by Duany Plater-Zyberk &
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Approximately 350 homes, which include cottages,
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Very favorable tax environment in The Bahamas
custom homes, marina residences and equestrian
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2010 opening
ranchettes
A L B A NY
Conveniently located in The Bahamian archipelago of more than 700 islands and atolls
Company •
Luxury boutique hotel comprising a selection of beachfront, oceanview and beach club cottages
Lots start at $1.5 million and finished residences begin
Tiger Woods and Ernie Els •
Full Memberships, Legacy Memberships and Social