Abode2
The essential guide to the finest in global luxury property
CARIBBEAN CRAVING The Crane Resorts in Barbados
ST ANDREWS OPEN 30-page Golf Special
Boho Styling with Jade Jagger
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FRENCH FANCY
LATIN LOVE AFFAIR Brazil Beckons
09
Volume 2 Issue 9 £6.95
Cote D’Azur Exclusive
Jordan Speith’s Home of Golf
White Isle Reflections with Calvin Harris
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PERSONAL SERVICE IS THE CORNERSTONE OF OUR BUSINESS Abode2_Volume2_Issue9_TOTALIS_Prestige_DPS_Ad_rev2.indd 2
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Specialists in the search and acquisition of high calibre prime residential property in central London Defined by discretion and dedication - TOTALIS Prestige offer outstanding independent expertise in property investment strategies for high net worth individuals. We provide a bespoke service maximising advantageous purchase outcomes in a competitive market. • • • • • • •
Search Acquisition Development Asset Management Financial Legal Insurance
TOTALIS Prestige
Mayfair
+44 (0) 20 7129 1217
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London
info@totalisproperty.co.uk
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RONIN FARM
Brewster, NY
A
vailable at $6,950,000, this state-ofthe-art equestrian facility sits just to the north of Manhattan within a comfortable commute. Ronin Farm extends to 52 acres and incorporates a 38,000 sq ft equestrian facility, 50 horse stalls, numerous paddocks and two modern, luxury houses. The main accommodation – a 4,200 sq ft four-bedroomed house – and the secondary, two bedroomed house, were both completed in 2008.
• 52-acre farm and equestrian center • 50 horse stalls imported from London, England • Four-bedroom house • Two-bedroom secondary house
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THE ‘ART LUX’ HOME
Armonk, NY 10504 HATEMA HELEN NEZAJ (BROKER) 617 EAST 188TH STREET BRONX, NY 10458 T: +1 718-365-4310 F: +1 718-367-7386 E: helen@bajraktarirealty.com W: www.bajraktarirealty.com
O
ffered at $7,900,000, this stunning modern home was completed in 2008 and comprises 6,800 square feet on four levels and over a 4-acre site. Constructed to complement and incorporate the natural rock landscape and to offer privacy, water views and an easy commute to New York, the Art Lux House is your dream home in a dream location. • 6,800 square feet + 1,300 unfinished square feet • Four bedrooms, five full baths & two half baths • Construction completed in 2008 • 4-acre site • Two-car garage • Semi-private lake
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The Art of Luxe Living T
he Art Lux Home was built in 2008 just north of Manhattan in Armonk, an exclusive area of New York’s Westchester County. This impressive 6,800 square foot residence is set on 4 private acres of tranquillity, with tree-top aspects, natural rock cropping and a waterfront view of a private lake that is shared by just a few other homes. A real ‘foodie’ town, Armonk has many places where one can wine and dine, while the house is also within walking distance of one of Westchester’s finest country clubs and golf courses – the Whippoorwill Club. This is a 500-acre estate occupying one of the highest points in the towns of New Castle and North Castle, the most exclusive parts of Westchester. The Art Lux Home is a four-storey house built into the natural gninnurock ts sihin t ,0order 00,00to 9,7preserve $ ta derethe ff site’s natural beauty and The gnnihas ni d neutlake teslpsim hviews to,c00sa0w ,throughout. 00em 9,7o$h tnard e r e ff detailing includes blue edom stonework, a copper-front arched n i d e t e l p m o c s a w e m o h n r e d o m erauqs 008,6 sesirpmoc dna 8002roof, stained cedar siding and qasr0e0vo8with ,d 6nsaebuilt-in ssilrepvm erceara-au4patio elorcubarbecue, odfnnao80te0e2fcropped into the rock, that )REKORB( JAZEN NELEH AMETAH overlooks the lake. e r c a 4 a r e v o d n a s l e v e l r u etaroprocni dna tnemelpmoofcnoottedeeftcurtsnoC .etis )REKORB(TJA EL8E8H EEZRETNS N HT 1 TASM AEET7A1H6 staircase of cherry wood was handmade eta,yrInside, ocapvriorcpnrthe iedffnofloating aottndem e l p m o c o t d e t c u r t s n o C . e t i s na epacsdnal kcor larutan eht T E E R T S H T 8 8 1 T S 85401 YN ,XANEO7R1B6 the aviwrpeN reff tum dnsite, a oecpand aycssadethe nnaallarge coarswindows lw areuivtarneteathroughout hwt ,by k,yrcocraftsmen Y otoateotthe m dkn B 08153440-516Y3N -81,X7N1O + R:T capture ,home kroaYnw emtuam sasei ensathe nview a xsuwLeofitvrthe reteastars, i eeN mooht the enatural rm d orucoyylight, uodH A hwt the sunset, 0 1 3 4 5 6 3 8 1 7 1 + : T 6837-763-817 1+ :F the sunrise, and a ni emofalling h maeleaves, rd ruoywinter si esuosnow, Aaeeflowers .nHoixtuaspring cLoltrm rhdt 81n7el1e+ F moc.ytlae6ri8r3at7k-a7r6ja3b-@ h ::E summer swims. . n o i t a c o l m a e r d teef erauqs dehsinfinu 003,1 + teef erauqs 008,6 • m o c . y t l a e r i r a t k a r j a b @ n e l e h : E tsehetfaThe ebraflualuxury qhsodweh s& inthe 1econtinued +vfite,sem f eoroarudin qesbits 0r0uopen 8o,F6 •• floor plans, moc.ytlaeri ratka rjab.www :W t of sfihntuhome ab00ll3u,fis moc.ytlaeri ratka rjab.www :W to 30 feet – throughout, decks shitstahigh b flahceilings owt 8&0–0sup h t a b l l u f e v fi , s m o o r d e b r u oC F multi •• 2 ni detelpmoc noitcurtsnothe and patios with80tree-top and 02 ni deviews, telpmthe oc nnatural oietctiusretrock srncao-C4cropping •• lake escapes in its own back yard.egOr is it in the chief kitchen, e t i s e r c a 4 • arag rac-owT • the tiger wood engineered floors, the aertaamarble, gvirrapc--im ow ekeaglthe eT S ••California closets throughout and the radiant ekal eheating tavirp-in imthe eS •kitchen, family room, basements, five bathrooms and two powder rooms? The Art Lux home has it all: luxury, the beauty of nature, the water and the location… all fashioned into one work of living art. Price: $7,900,000
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Selling agent: Hatema Helen Nezaj (broker) Bajraktari Realty Group LLC 617 East 188th Street, Bronx, NY 10458 Tel: +1 718-365-4310 Fax: +1 718-367-7386 E-mail: helen@bajraktarirealty.com Web: www.bajraktarirealty.com
Volume 2 Issue 9 // Abode2 5
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Oceans Outdoor The Ultimate in Stylish Outdoor Living
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Oceans exclusive outdoor furniture spans the entire ‘wish-list’ range from seductive Sofa sets, desirable Dining Sets and Occasional Furniture through to contemporary poolside Sunloungers, Parasols, and discrete Patio Heating. The first UK company to originally import the revolutionary new style of All Weather Furniture, Oceans is a distinguished brand, known for producing stylish, award-winning design. Built on a reputation spanning 10 years in the vanguard of delivering innovation and design integrity the Oceans’ portfolio features over 200 products integrating collections in a range of styles and materials. Distinctive silhouettes are hand crafted into bespoke quality furnishings that enhance traditional, transitional and contemporary environments. Our ranges are available throughout Europe and our Overseas team can arrange shipments worldwide. For further details please email j.aylmer@oceansint.com
www.oceansrattanfurniture.com
Abode2 Volume2 Issue9.indb 7
+ 44 (0)1295 662200
info@oceansint.com
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PERSONAL SERVICE IS THE CORNERSTONE OF OUR BUSINESS Specialists in the search and acquisition of high calibre prime residential property in central London Defined by discretion and dedication - TOTALIS Prestige offer outstanding independent expertise in property investment strategies for high net worth individuals. We provide a bespoke service maximising advantageous purchase outcomes in a competitive market. • • • • • • •
Search Acquisition Development Asset Management Financial Legal Insurance
TOTALIS Prestige
Mayfair
+44 (0) 20 7129 1217
London
info@totalisproperty.co.uk
Abode2 Volume2 Issue9.indb 8 Abode2_Volume2_Issue9_TOTALIS_Prestige_Ad_FP_rev2.indd 2
www.totalisprestige.com
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15 16:34
Welcome “It is only the modern that ever becomes old fashioned.” Oscar Wilde
This Issue – Hot Picks Sun
Summer always brings with it its own delicious al fresco rhythm with thoughts turning to tan lines and lazy days by the pool. For some, the opportunity to travel can ignite aspirations of a more permanent bolthole abroad. But short-listing location options can be tricky. Age-mellowed countries like France and Italy are chock-a-block with traditional property - drawing buyers who value character over conformity. Opting for an older house can certainly be a savvy investment if you’re ‘in it’ for the long term. Supply is limited. Locations are invariably top notch, plus you can wallow in bricks and mortar ‘realness’ - every nook, creak and cranny only adds to the appeal. More mature abodes however, can be a drain on your finances and precious spare time - if major repairs are required, you’ll either have to roll up your DIY sleeves, or call in the professionals. This is all well and good, if you can rise above the long-distance hassles and the monthly bills. If not, you might be better off culling your period fantasy and settling for a younger, lowermaintenance model. New build has its share of upsides, from quality construction and contemporary styling, to energy-efficient heating and cooling plus all the latest mod con goodies. If the development or community you’re buying into is well resourced, you’ll also hold a competitive advantage over stand-alone equivalents that lack these benefits. But shiny and new isn’t without its foibles. Price per square foot invariably works out more expensive than a re-sale home of a similar size. Property choice and on-site amenities can also vary hugely with location; so individual set-ups need to be looked at with a critical eye. Is the pool big enough to accommodate multiple well-endowed families? What about property plot sizes and annual maintenance costs? It’s a good idea to factor in intangibles to the decision making process too. Similarly styled homes tend, for example, to attract likeminded buyers, with most developments geared towards fun-loving, extended families. Depending on your point of view, however, establishing one’s primacy at the pool might end up being more of a curse than a blessing. All of which finally (!) leads me to the smart strategy to apply in this old vs new dilemma. Let logic not emotion prevail when choosing your home-from-home – the more you do, the happier you’ll be with your choice.
Feeling Groovy in Grand Cayman
City
Chelsea’s Super-Prime Charm Offensive
Spa
Have a great summer!
Riad Retreats in Marrakech
Style
Laura Henderson Editor
Check out our pins on www.pinterest.com/abode2
Email me at editor@abode2.com
Follow us on Twitter @AbodeTwo
Get inspired at www.abode2.com
Boho Interiors with Jade Jagger Volume 2 Issue 9 // Abode2 9
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Trophy Properties from arou nd th e World
Footprints - Beachfront, St James, Barbados - US$12 million
Hollywood Mansion - Camps Bay, South Africa US$5 million
The Old Hall - Nether Alderley, Cheshire POA
Whether it’s a stunning property on the beach somewhere warm, a top of the range London Home, a country Estate or even a private Island, let us know how we can help. It may be publicly listed or off market. At Worldwide Dream Properties we will look for properties that could be of interest and keep you updated when new and exciting properties come to market. To register your interest please contact Stephen@worldwidedreamvillas.com or call on + 44 (0) 1625 586 895
Barbados: +1 (246) 432 6307 UK: +44 (0) 1625 586 895 E: enquiries@worldwidedreamvillas.com W: www.worldwidedreamvillas.com
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Contributors
Laura Wateley
Sarah Stirck
talks to KENSA Designs on page 48
reveals her fairway favourites on page 194 Best Things in Life? - Sport, writing and travel, especially somewhere hot with a golf course! I’m a big fan of Mauritius and the Algarve and for pure relaxation it has to be the Maldives. In the winter I try to escape for a long weekend skiing in Europe.
Best Things in Life? Friends, family, a mug of tea and a brand new episode of House of Cards. The location that inspires me... Has to be Manhattan - it’s where it really does feel like anything is possible.
The location that inspires me... The Old Course in St Andrews – just to walk around and soak up the atmosphere is special. It’s the home of golf so provides all the inspiration you could possibly need.
Faith Glasgow
Jane Slade
interviews Susan White on page 150
talks about Bridging Cultures on page 54
Best Things in Life? Sunshine, my family, my oldest friends and a few bottles of wine, quite possibly on the terrace of ‘our’ beloved Normandy chateau (jointly owned, I hasten to add). The location that inspires me... I’m spoilt for choice when it comes to choosing inspirational locations, but I reckon it doesn’t get much better than midsummer on the west of coast of the Isle of Harris, in the Outer Hebrides: empty white shell sands, perfumed machair, and purple mountains as a backdrop.
Best Things in Life? Happy childhood, happy marriage, chocolate. The location that inspires me... The French Alps for their unrivalled majesty, beauty and power and particularly the climbers Mecca of Chamonix which I consider to be my spiritual home.
Abode2 Managing Editor Laura Henderson Production Editor Colin Halliday
Features Editor Serena Templeton Editorial Designer Kellie Mills
Asia Editor Eva Xinyi Ye
Head of Sales & Marketing Russell Rhys-Davies Web Editor Ben Watts
Advertising Sales Manager Jamie Ezekiel
Digital Media Executive Kelly Anne Moscrop
Circulation Manager Mark Jones
Abode2 is published bi-annually To subscribe please mail subscribe@abode2.com or call 0800 032 9367 Published by Serious Publishing Chapel Business Centre Aylesbury Bucks HP22 5DW
Printed by the Wyndeham Group Fleet Street 8-12 New Bridge Street London EC4V 6AL
Distributed by COMAG (Conde Nast) Specialist Tavistock Works Tavistock Road West Drayton Middlesex UB7 7QH
© Serious Publishing Ltd 2015. All rights reserved. No part of this publication may be reproduced without prior permission from the publishers. While every effort has been made to ensure the accuracy of the information contained in this publication, the publisher cannot accept responsibility for any errors it may contain. Volume 2 Issue 9 // Abode2 11
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Abode2 Contents
38
48
City Living Classics
140
Jade Jagger - Exclusive Interview
London - KENSA Designs
108
Ibiza - Cala Conta
9 ED’S WELCOME 11 CONTRIBUTORS 18 TRENDING
Property news, views and events from around the globe
Designer living in Ibiza and Mallorca
114 FRENCH FANCY
Coast and country retreats in Provence and the Côte d’Azur
132 CHANNEL HOPPING
24 WATERFRONT LIVING
The ultimate relocation guide to Jersey and Guernsey
38 CAPITAL GAINS
Jade Jagger feature interview
Luxury homes with set sail appeal
London’s prime growth districts
Cover: The Crane Resorts in Barbados www.thecrane.com
90 BALEARIC BLISS
60 FAIRWAYS TO HEAVEN
30-page St Andrews Open Exclusive
140 DESIGN AND INTERIORS
154 DESTINATION USA Luxury resort living in the Sunshine State
Destination France Sponsor www.currenciesdirect.com 12 Abode2 // Volume 2 Issue 9
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Abode2 Contents
86
174
Thailand - Black Mountain Golf Resort
152
Florida - Miami
Fractional Ownership
184
Costa Rica - Casa Romantica
160 LUXURY RENTALS
The essential guide to finding the perfect holiday villa
166 CARIBBEAN CONNECTIONS Tropical retreats with tax perks
172 ALTERNATIVE INVESTMENTS Fractional ownership special report
182 COSTA RICA How to retire in style
194 AND FINALLY
My Secret Globetrotting Address Book with Sky Sports presenter Sarah Stirk
166
Caribbean Retreats
14 Abode2 // Volume 2 Issue 9
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They have consistently brought properties to the table that I would never have found on my own. Investor Client
LONDON’S ULTIMATE PROPERTY ACQUISITIONS SERVICE Whether you are looking for a home or a shrewd investment we ensure we understand your needs and then fulfil them. Our highly experienced consultants use their local knowledge and extensive network of contacts to secure the perfect property for you on the best possible terms. We position you first in line for the best new properties and have access to those seemingly unobtainable properties that change hands without ever hitting the open market. We take care of every detail to efficiently deliver the optimum outcome with maximum convenience.
Our expertise, your advantage. 239 High Street Kensington, London, W8 6SN
•
0207 316 3029
•
info@irvineandcole.com
www.irvineandcole.com
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The The The Gleneagles Gleneagles Gleneagles experience experience experience isisone isone one ofofaofakind akind kind – –and –and and now now now there’s there’s there’s a away away way tototo The The The Gleneagles Gleneagles Gleneagles experience experience experience is is one is one one of of a of a kind a kind kind – – and – and and now now now there’s there’s there’s a a way a way way ® ® ® enjoy enjoy enjoy it itwhich itwhich which isisjust isjust just asasunique: asunique: unique: from from from the the the comfort comfort comfort ofofaofaGlenmor aGlenmor Glenmor tototo ®®® enjoy enjoy enjoy itholiday itwhich itwhich which is is just is just just as unique: as unique: unique: from from from the the the comfort comfort comfort of of aofyour aGlenmor aGlenmor Glenmor luxury luxury luxury holiday holiday home, home, home, inas in the in the the heart heart heart of of Gleneagles. of Gleneagles. Gleneagles. On On On your your stay stay stay you you you can can can luxury luxury luxury holiday holiday holiday home, home, home, in in the in the the heart heart heart of of Gleneagles. of Gleneagles. Gleneagles. On On On your your your stay stay stay you you you can can enjoy enjoy enjoy complimentary complimentary complimentary golf golf golf forforfor one one one person, person, person, plus plus plus access access access totoall toallof allofthe ofthe the can enjoy enjoy enjoy complimentary complimentary complimentary golf golf golf for for for one one one person, person, person, plus plus plus access access access totoall toallof allofthe ofthe the facilities facilities facilities of ofaofa5 a5star 5star star resort resort resort right right right on on your on your your doorstep. doorstep. doorstep. facilities facilities facilities ofofaofa5 a5star 5star star resort resort resort right right right ononyour onyour your doorstep. doorstep. doorstep. AAmain Amain main season season season 2 2bedroom 2bedroom bedroom property property property starts starts starts A A main A main main season season season 2 2 bedroom 2 bedroom bedroom property property property starts starts starts from from from £2,720 £2,720 £2,720 forforfor 7 7nights. 7nights. nights. ToTofind Tofind find out out out more: more: more: from from from £2,720 £2,720 £2,720 forforfor 7 7nights. 7nights. nights. ToTofind Tofind find out out out more: more: more:
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© The © The © Gleneagles The Gleneagles Gleneagles Hotel Hotel Hotel 2015. 2015. 2015. ® The ® The ® GLENEAGLES The GLENEAGLES GLENEAGLES andand GLENMOR and GLENMOR GLENMOR words words words andand the and the EAGLE the EAGLE EAGLE Device Device Device areare trade are trade trade marks. marks. marks. © The ©Timeshare, The ©Timeshare, Gleneagles The Gleneagles Gleneagles Hotel Hotel Hotel 2015. 2015. 2015. ® The ®Resale The ®Resale GLENEAGLES The GLENEAGLES GLENEAGLES and and GLENMOR and GLENMOR GLENMOR words words words and and the and the EAGLE the EAGLE EAGLE Device Device Device are trade are trade trade marks. marks. marks. The Timeshare, Holiday Holiday Holiday Products, Products, Products, Resale and and Exchange and Exchange Exchange Contracts Contracts Contracts Regulation Regulation Regulation 2010 2010 2010 requires requires requires Gleneagles Gleneagles Gleneagles toare to provide to provide provide you you with you with with certain certain certain keykeykey The The Timeshare, The Timeshare, Timeshare, Holiday Holiday Holiday Products, Products, Resale Resale Resale and and Exchange and Exchange Exchange Contracts Contracts Contracts Regulation 2010 2010 2010 requires requires requires Gleneagles Gleneagles Gleneagles to contains to provide to provide provide you you with you with with certain certain certain key key key information information information in in relation in relation relation toProducts, to the to the proposed the proposed proposed seasonal seasonal seasonal ownership ownership ownership contract. contract. contract. ARegulation standard ARegulation standard A standard information information information form form form which which which contains contains this this key this key information key information information in in in information information information into in relation in relation relation to to the to the proposed the proposed proposed seasonal seasonal seasonal ownership ownership ownership contract. contract. contract. AThe A standard information information information form form form which which which contains contains contains thisthis key this key information key information information in1NF. in1NF. in relation relation relation to to that that contract that contract contract may may be may be obtained be obtained obtained by by contacting by contacting contacting Gleneagles Gleneagles Gleneagles atAThe atstandard atstandard Gleneagles The Gleneagles Gleneagles Hotel, Hotel, Hotel, Auchterarder, Auchterarder, Auchterarder, Perthshire, Perthshire, Perthshire, Scotland, Scotland, Scotland, PH3 PH3 PH3 1NF. relation relation relation to to that to that contract that contract contract may may be may be obtained be obtained obtained byby contacting by contacting contacting Gleneagles Gleneagles Gleneagles at The at The at Gleneagles The Gleneagles Gleneagles Hotel, Hotel, Hotel, Auchterarder, Auchterarder, Auchterarder, Perthshire, Perthshire, Perthshire, Scotland, Scotland, Scotland, PH3 PH3 PH3 1NF. 1NF. 1NF.
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Abode2
The essential guide to the finest in global luxury property
DIGITAL EDITION OUT NOW
Enjoy reading Abode2 magazine on your tablet, phone or e-reader. The simple-to-navigate content means that it’s now even easier to explore the best in luxury resort real estate. JUST LAUNCHED – Abode2 Anglo-Chinese edition www.abode2.com
Abode2 Volume2 Issue9.indb 17
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TRENDING
Golden Nest Eggs
Texas Tops the Golf Charts
NEARLY US$3 TRILLION OF THE WORLD’S private wealth is held in owner-occupied residential properties, a value greater than the GDP of India - confirm Wealth-X and Sotheby’s International Realty. There are 211,275 ultra-high net worth (UHNW) individuals - defined as those with US$30 million and above in net assets - in the world and 79% of them own two or more residences. Some of the main hubs for luxury residential real estate are New York City, London and Hong Kong, but niche locations such as Lugano, the Hamptons and rural areas around the world - are also gaining in popularity. The Report also forecasts the ongoing shift in the wealth creation cycle from the West to the East, and the growing significance of intergenerational wealth transfers which will have significant consequences on the luxury residential real estate market - with a noted emphasis on new-build developments and a change in investment grade cities.
WHILE MUCH OF THE USA BUNKERED DOWN during the last
financial crisis, high-country Texas grew in economic stature on a number of levels. Underpinned by a thriving tech sector and a healthy job market, one bumper growth area is that of golf real estate. Texans have always had a strong affinity to the game, so it’s perhaps little surprise that real estate communities, resorts and private clubs feature golf as a central component. Leading the way with strong investor ‘buy-in’, is the prestigious 72-hole Horseshoe Bay Resort in Texas Hill Country with the lush TPC Four Seasons fairways at Las Colinas in Dallas, not far behind.
TOKYO’S UPTICK TREND CBRE’S LATEST ASIA PACIFIC SURVEY REVEALS
Asian intentions to invest in property assets will remain strong this year with Tokyo being the most active market. The report also reveals that the risk appetite for prime core assets has risen. Major markets like Japan, China and Australia, remain the top investment destinations with other mature markets moving up the rankings. Outbound foreign property investment intention is also forecast to stay strong in the coming months.
Saudi Arabia has seen its residential property market expand rapidly over the last year due to increased demand boosted by government initiatives to pep up the housing sector and a quality drive on luxury villa development. Residential prices in Riyadh have risen by 7%, according to the latest real estate research.
It won’t happen overnight, but the ‘shot heard’ round the world - President Obama’s “opening” with Cuba - will have a significant effect on future residential resortdevelopment. Among the Cuban destinations of interest to property investors are places of natural beauty, among them Trinidad, Viñales, and Santa Lucia.
Antilia, Mumbai, India owned by business magnate Mukesh Ambani, is officially the world’s most expensive property, with construction costs topping a record $1 billion. The twenty-seven story, 400,000-square foot skyscraper residence, named after a mythical island in the Atlantic, has three helicopter pads, a ‘health’ level, and reportedly requires about 600 staff to run it.
18 Abode2 // Volume 2 Issue 9
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LATIN LOVE AFFAIR ACCORDING TO THE MIAMI ASSOCIATION OF REALTORS, Brazil topped the list of foreign countries
conducting online property searches in the first quarter of 2015. Colombia, Russia, Venezuela, and Canada were the next top-four searching nations. A nation-wide price series began in Brazil mid-2010 and shows that property prices at a national level have increased by 70% in just four years.
PLANET OF THE APPS Property Place A Facebook app which helps you find both commercial and residential properties. Creators of PP include Facebook developers, Google owned beatthatquote.com and Guardian Media Group Property Services, who’ve programmed the app to give users search results keeping their social lives in mind. Currently, there are over 400,000 prime properties accessible from the application. iScape - Design Your New Surroundings Improve the curb appeal of your house and have fun doing it. Take a picture of your home with your iPhone or iPad. Then landscape it; iScape offers all sorts of plants, planters, and “textures” that you can add to your photo. One tap on a picture of a tree or shrub gives you cultivation information, two taps adds it to the photo.
City Slicker THE CITY OF LONDON IS NOW FIRMLY
part of the prime central London residential property market as increased job creation, coupled with strong buyer demand, underpins property price growth. A number of economic and cultural factors have transformed the area into one of the capital’s most active residential areas, according to real estate voice Knight Frank. The company’s latest analysis shows that transaction levels in the district
CBRE, the world’s largest commercial real estate services firm’s, latest APAC Report confirms economic growth in Asia Pacific will remain ahead of the world average in the coming years. CBRE estimates that overall investment turnover in Asia Pacific will increase by 5% year-on-year to US$118 billion in 2015.
and surrounding area which runs from Farringdon in the west to Whitechapel in the east, were 19% higher in 2014 compared to 2013. Buy-sell activity further indicates that the area benefits from existing high quality property stock including Georgian terraces as well as period commercial buildings, some of which have already lent themselves to conversion into large scale, architect-designed residential developments.
Whether your dream is to retire abroad or the idea just offers a vicarious thrill, Ecuador, tucked in between Colombia and Peru has been voted by Forbes readers: “the perfect location for someone in search of a happy and fulfilling life overseas.” Retirees can pick their climate and lifestyle - from being a Pacific beach bum to an Andes mountaineer.
Kelly Hoppen Home Style This innovative app offers users access to Kelly’s distinctive style at the touch of a button, revealing expert advice on interior design and exclusive tips for those wanting to recreate a specific room. “I want to show that creating a lovely, stylish space needn’t be daunting and that it is easy to add timeless elegance to your home,” says Kelly. A hundred Bordeaux châteaux are now in Chinese hands, underlining the Asian giant’s unquenchable thirst for property in this legendary French wine-making region. The Chinese, who are now the principal export market for Bordeaux wines, ahead of Britain, started buying up the region’s châteaux in 2010 to meet growing domestic demand for its vintages.
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LA ZAGALETA MARBELLA • SPAIN
LUXURY • SALES • RENTALS Buying and investing in international property demands sector expertise and local market knowledge. So how do you ensure that you are making the right purchase decision? Cyan International Properties is one of the UK’s leading independent luxury agents specialising in lifestyle and investment real estate across the globe; catering to buyers looking to make a permanent move overseas, purchase that perfect holiday home or lucrative buy-to-let interest.
info@cyan-ltd.com
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+44 (0) 1628 94 70 70
cyaninternationalproperties.co.uk
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15 10:37
Abode2
The essential guide to the finest in global luxury property
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OF THE UK’S FASTEST GROWING LUXURY PROPERTY MAGAZINE FROM £12 Expert knowledge from around the globe on top locations, newest resorts and developments, with advice on relocation and retirement
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INSPIRATIONAL FURNITURE 555 Kings Road | Chelsea | London | SW6 2EB | 020 7610 6626 also at Newcastle and Knutsford
www.mowlemandco.com
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NEW STAR
BENETTI – 30.20m – 2003 – Refit 2013 – 4 Staterooms – Fully code compliant for charter - Italy – VAT paid – 3,950,000 Euros
RIMA II
BENETTI – 49.50m – 1987 – Refit 2014 – 7 Staterooms – Total/Extensive refit last year – Italy – 9,800,000 Euros
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J&LI
CANADOS – 27.51m – 2008 – 4 Staterooms – Never Chartered – Cruising/Max speed: 38/46 Knts – France - 2,370,000 Euros
CUTLASS
TANSU YACHTS – 39.29m – 2015 – 5 Staterooms – As new, launched this year – 11,000,000 Euros
TELEPHONE: +34 618 85 2332 EMAIL: mark@enigmayachts.com
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WATERFRONT LIVING
Making Waves Marina developments are an increasingly prominent component in the lifestyle real estate mix. So where are the smart investors docking? Laura Henderson reports Kenya Set to upscale the East African coastline as well as boost Kenya’s standing as a key tourist destination, English Point Marina has already garnered numerous industry plaudits for its sleek, contemporary design and diverse real estate offering. Sitting on a four-and-a-half acre stretch of prime beach front overlooking historical Fort Jesus, Mombasa’s vintage port; East Africa’s first fully-serviced pontoon marina sports a total of 88 berths with access to the full repertoire of dock and chandlery services. “The idea was to create a marina community that sailing aficionados could relate to, no matter where they come from in the world,” explains project General Manager, Philip Jones. “In Africa, the one stop-over that most sailors go to is South Africa which has an established marina. Now English Point offers the option to drop anchor in Kenya, and soak up our dynamic culture.” Boasting a total of 104 turnkey apartments and eight stylish penthouses – units have a minimum of three bedrooms with 26 Abode2 // Volume 2 Issue 9
a furnishing package option available. Interior dĂŠcor includes original African art and hand-crafted fabrics and furnishings. Smart home accessories include touch screen surround sound, with key card lift-to-floor access for optimum privacy. When complete, on site facilities will include a boutique hotel, restaurant, spa and gym, with a water sports centre and boardwalk with retail outlets and boutiques. Penthouse prices start from US$2million. Barbados Occupying a dramatic 16 acre inland waterway site on the scenic northwest coast of Barbados; the first phase of the multimillion dollar Port Ferdinand Luxury Marina and Residences offers 46 deluxe homes for ownership and rental; each boasting a berth that can accommodate yachts up to 90 feet. Created and managed by Barbadian brand, UNNA Luxury Resorts & Residences, when built out, the community will comprise 82 spacious residences and 120 yacht berths. Homes range from 2,500 square feet up to 6,100 square feet, with property prices ranging from US$2.15million for a two bedroom marina view residence up to US$6.5million for a four bedroom ocean and marina view penthouse. Property ownership also includes the option of duty free importation of a yacht or motor boat. Yacht berths provide fresh water, electricity, waste removal, fibre-optic network for high speed broadband and wireless internet connection, while home owners can enjoy 24-hour access to a dedicated concierge service to assist with all homecomfort essentials from booking an in-house chef for the evening to securing tickets to the finest polo and golf events on the island. Holiday rentals at Port Ferdinand start at US$950 per home per night from 15th April to 14th December 2015 with the option to lease a yacht berth.
buyers already in the mix - Reehan Residences comprises 99 prime site villas located at the western boundary of The Wave golf course and within walking distance of the marina and community beach. Properties will be available in different configurations and sizes to suit individual home buyer requirements, with spacious garden lots for outdoor entertaining space and private pools. Residents will have easy access to a wealth of leisure and entertainment facilities including the PGA standard 18-hole Greg Norman golf course at Almouj Golf and the upcoming opening of the active social and retail hub offering designer shopping and fine dining. Property prices start from ÂŁ410,000.
Oman An integral part of prestigious luxury residential community The Wave in the upscale capital of Oman - Muscat, 400-berth Almouj Marina is already making HNW headlines as the premier marina facility and flagship yachting and sailing destination in the Sultanate. The â‚Ź1.84bn mixed-use project developed in partnership between the Omani Government and Dubai-based Majid Al-Futtaim, is the first integrated tourism project for the country. Stretching along six kilometres of pristine coastline, once complete, the community will include four luxury hotels, a plethora of leisure facilities, together with 4,000 residential properties ranging from stand-alone villas to courtyard homes. Properties are available freehold to non-Omani nationals, with the right to apply for residency included. Recently launched and with a high percentage of foreign Volume 2 Issue 9 // Abode2 27
Yacht Brokerage
153ft “CHANTAL” 1984 / 2013. CHANTAL is a true gentleman’s motor yacht, built from steel with a long range and a luxurious interior. She has a special charm and should generate strong interest beyond the experienced yacht owner. CHANTAL can accommodate up to 12 guests and boasts ample deck space as well as an abundance of tenders and toys. Not only is she good looking and luxurious but also a true ocean going motor yacht with a Transatlantic range.
Yacht Brokerage
112ft “LA SULTANE”
86ft Classic MY GOLDEN PRINCESS” 153ft “CHANTAL”
2006. Steel full displacement motor yacht. An extremely elegant motor yacht finished to the highest standard, which combines the fine taste and cosy ambience of a traditional vessel from a bygone era with modern technology and comfort. LA SULTANE boasts grand living spaces and a look that won’t go unnoticed in the magnificent bays along the Turkish coast. The yacht has seen 4-6 weeks use each year in the summer and has had the same owner since construction.
1966. True gentleman yacht.CHANTAL She has a is special character. She is in great condition 1984 / 2013. a true and boasts nice accommodation for upyacht, to 8 guests gentleman’s motor builtin 4 double cabins including a large owner’s stateroom, plus 4with crewa inlong three cabins anda a crew mess. She has a large and from steel range and spacious upper sun deck, nice sheltered cockpit, spacious saloon and proper pilot house. luxurious interior. She has a special
102ft “MOONBEAM OF FIFE III”
82ft “ATAO”
1903. The story of the Moonbeams began in 1858. In 1902 Charles Plumtree Johnson decided to go back to William Fife for the creation of his 3rd yacht. Moonbeam III was launched in 1903, hull n° 491 to leave the Fife yard. The result was a magnificent yacht which has now become one of the most successful classic yachts in the world. Her streamlined shape and large sail surface area both make for an extremely elegant and unique yacht.
2006. Built by JFA Yachts, France. She is a beautiful modern classic centreboard sloop, with a stunning classic look and modern requirements. Her finely crafted woodwork hides many powerful innovations and reveals astonishing sailing performances. The view from the deckhouse is unparalleled and uninterrupted, looking forward over the deck and into the cockpit and this is clearly the central point of this beautiful yacht.
FRANCE Montpellier (Head Office) Tel +33 467 66 39 93 info@bernard-gallay.com
Paris Tel +33 682 83 19 21 François Boucher paris@bernard-gallay.com
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La Ciotat Tel +33 682 79 08 61 Stéphane Della laciotat@bernard-gallay.com
charm and should generate strong interest beyond the experienced yacht owner. CHANTAL can accommodate up to 12 guests and boasts ample deck space as well as an abundance of tenders and toys. Not only is she good looking and luxurious but also a true ocean going motor yacht with a Transatlantic range.
Monaco Tel +33 609 01 97 84 Philippe Monnet monaco@bernard-gallay.com ft
SPAIN - Palma de Mallorca Tel +34 619 05 64 19 Jean-Yves Candlot palma@bernard-gallay.com
112 “LA SULTANE”
RUSSIA - Moscow Tel +7 910 477 09 70 Oscar Konyukhov russia@bernard-gallay.com
2006. Steel full displacement motor yacht. An extremely elegant motor yacht finished to the highest standard, which combines the fine taste and cosy ambience of a traditional vessel from a bygone era with modern technology and comfort. LA SULTANE boasts grand living spaces and a look that won’t 15/06/2015 21:08 go unnoticed in the magnificent bays along the Turkish coast. The yacht has seen 4-6 11/05/2015 16:12 weeks use each year in the summer and has had the same owner since construction.
T T. tur
BGallay
Yacht Brokerage Yacht Brokerage
SALES, CHARTER & MANAGEMENT www.bernard-gallay.com
147ft Super Yacht ft ft MARI-CHA III “CHANTAL” 153153 “CHANTAL” 1997. MARI-CHA III isa atrue Super Yacht / 2013. CHANTAL is a true 1984 1984 / 2013. CHANTAL is gentleman’s yacht, built of distinction, designed by Philippe gentleman’s motormotor yacht, built from steelaand with arange long range a from steel with long and a and built Briand John Munford luxurious interior. Shea special has a special luxurious interior. She has by Sensation Yachts. and should generate charmcharm and generate strong Theshould award-winning & strong recordinterest interest bbeyond r e a kbeyond i nthe g Mexperienced Athe R I -experienced CHA III was eHrA. NCTHAALas N cTaaAhybrid n y a c h ty aocoriginally whnt e or .w nCconceived nL c a high accommodate upcruising to 12 guests accommodate up to 12 guests and performance yacht,and with ample decksospace as well boastsboasts ample deck space asthat wellher a lavish interior owner an abundance ofcomfortable tenders as an as abundance of fast, tenders and andand could enjoy toys. Notcruising she looking good lookinghis toys. Not only isonly sheisgood safe whilst entertaining andguests luxurious but also and luxurious truea true inbut stylealso and aluxury. going motor yacht a of oceanocean going motor yacht with awith To this day she is regarded as one Transatlantic Transatlantic range.range. the fastest ‘super sailors’ afloat and still turns heads at any anchorage with her sleek hull and huge carbon ketch rig.
Yacht Yacht Brokerage Brokerage
ft ft ft “LA SULTANE” Steel full displacement motor An yacht. An 86ft 86 Classic GOLDEN PRINCESS” 112112 “LA SULTANE” 2006. 2006. Steel full displacement motor yacht. Classic MY MY GOLDEN PRINCESS” extremely motor finished yacht finished the highest standard, which combines extremely elegant motor yacht to the to highest standard, which combines the the 1966. 1966. True gentleman yacht. She has a special character. is in condition great condition True gentleman She has a special character. She is She in great ft yacht. ft ft elegant 153 153 “CHANTAL” “CHANTAL” Swan 82 ALPINA Jongert “CELANDINE” 1993. Beautiful steel/ fine98 tastecosy and cosy ambience of a traditional a bygone eramodern with modern fine taste and ambience of a2900 traditional vessel vessel from afrom bygone era with and boasts nice accommodation for8up to 8 guests in 4 double including and boasts nice accommodation for up to guests in 4 double cabins cabins including a largea large
aluminium board Dougliving Peterson. inthat 2008. 2001. Refit German Frers’s ALPINA is anShe up has to She date expression of the 1984 1984 / 2011. 2013. 2013. CHANTAL CHANTAL is design, a is true a atrue technology andsloop comfort. LAthe SULTANE boasts grand living Full spaces and that arefit look won’tSheowner’sowner’s technology and comfort. LA from SULTANE boastsof grand spaces andJongert a look won’t stateroom, 4increw incabins three cabins and amess. crew mess. has aand large and stateroom, plus 4/ plus crew three and crew a large boasts 3 generous double cabins for up to 6 guests. The master cabin aft wards fastgentleman’s maxi-cruiser concept. She is the result ofsaloon accumulated drawn gentleman’s motor motor yacht, yacht, built built go unnoticed in the magnificent bays the along the Turkish coast. Thehas yacht has4-6 seen 4-6hasspacious go unnoticed in the magnificent bays along Turkish coast. The yacht seen spacious upper sunnice deck, nice sheltered cockpit, spacious saloon andknowledge, proper pilotyet house. upper sun deck, sheltered cockpit, spacious and proper pilot house. large queen sizesummer a spacious bathroom. The 2owner guestconstruction. cabins both have twin afresh. performance oriented hulland andand fromHer from steel steel withwith a long a long range range aclean a deck layout mask comfortable internal useyear eachin year inbed theand summer had theowner same since construction. weeks weeks useaeach the and hasand hadhas the same since beds (convertible into double beds) and private bathrooms. Amidships a large saloon volume and a wealth of She technical that combine to offer outstanding long range luxurious luxurious interior. interior. She has has afeatures special a special has enough space for comfortable seating and dining. The separated crew area has a cruising capabilities. charm charm and and should should generate generate strong strong galley, crew mess and 2 cabins that accommodate 4 crew.
interest interest beyond beyond the the experienced experienced y a c yhat c oh w t noewr .n eCr .H ACNHTAANLT AcLa nc a n accommodate accommodate up toup12to guests 12 guests and and boasts boasts ample ample deckdeck space space as well as well as an as abundance an abundance of tenders of tenders and and toys.toys. Not Not onlyonly is she is she goodgood looking looking and and luxurious luxurious but but alsoalso a true a true ocean ocean going going motor motor yacht yacht withwith a a Transatlantic Transatlantic range. range.
ft ft ft “MOONBEAM “ATAO” 102102 “MOONBEAM OF OF FIFEFIFE III” III” 82ft 82 “ATAO” 1903. Theofstory of the Moonbeams in In 1858. 1902 Charles Plumtree Johnson 2006. Built 2006.byBuilt JFA Yachts, is a beautiful modern centreboard 1903. The story the Moonbeams began began in 1858. 1902InCharles Plumtree Johnson JFA by Yachts, France.France. She is aShe beautiful classicclassic centreboard sloop, sloop, Ferretti Custom Line 94 Flyyacht. “PRINCIPESSA” Amer 92 “CAROLIN III”modern Moonbeam to gotoback to William the creation 3 yacht. with a stunning look and modern requirements. Hercrafted finely crafted woodwork Moonbeam III was III was with a stunning decideddecided to go back William Fife forFife the for creation of his 3of his classic classic look and modern requirements. Her finely woodwork hides hides rd
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La Ciotat Monaco FRANCE de Mallorca RUSSIA - Moscow La Ciotat Monaco Paris Paris FRANCE SPAIN SPAIN - Palma- Palma de Mallorca RUSSIA - Moscow +33 79 08 61 +33 +33 83 19 21 Montpellier (Head Office) Tel +33Tel 01 97 84 +34 05 64 19 Tel +7 910 Tel +33Tel 682 79682 08 61 Tel +33Tel 682 83682 19 21 Montpellier (Head Office) 609 01609 97 84 Tel +34Tel 619 05619 64 19 Tel +7 910 477 09477 70 09 70 ASIA Hong Kong CARIBBEAN Grenada USA California TURKEY Marmaris François Boucher Stéphane +33 66 39 93 Philippe Jean-Yves Oscar Konyukhov François Boucher Stéphane Della Della Tel +33Tel 467 66467 39 93 Philippe MonnetMonnet Jean-Yves CandlotCandlot Oscar Konyukhov Bernard Gallay Yacht Brokerage Tel +852 9549 5135 Tel +1 473 439 44 95 Tel +1 510 872 6894 0 Tel +90 (0)536 976 24 38 paris@bernard-gallay.comlaciotat@bernard-gallay.com laciotat@bernard-gallay.com info@bernard-gallay.com paris@bernard-gallay.com monaco@bernard-gallay.com palma@bernard-gallay.com russia@bernard-gallay.com info@bernard-gallay.com monaco@bernard-gallay.com palma@bernard-gallay.com russia@bernard-gallay.com 1 rue Barthez - 34000 Montpellier - France Sylvain Barielle T. Sagnes & C. Apotheloz Thierry Barot Richard Szyjan +33 467 66 39 93 - info@bernard-gallay.com turkey@bernard-gallay.com asia@bernard-gallay.com grenada@bernard-gallay.com california@bernard-gallay.com com ft ft www.bernard-gallay.com
112 112“LA “LA SULTANE” SULTANE” 2006. 2006. SteelSteel full displacement full displacement motormotor yacht. yacht. An An
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extremely extremely elegant elegant motormotor yachtyacht finished finished to the to highest the highest standard, standard, whichwhich combines combines the the fine fine tastetaste and and cosycosy ambience ambience of a of traditional a traditional vessel vessel fromfrom a bygone a bygone era with era with modern modern 11/05/2015 16:12 11/05/2015 16:12that technology technology and comfort. and comfort. LA SULTANE LA SULTANE boasts boasts grandgrand livingliving spaces spaces and aand look a look that won’t won’t 15/06/2015 21:08 go unnoticed go unnoticed in thein magnificent the magnificent baysbays alongalong the Turkish the Turkish coast. coast. The yacht The yacht has seen has seen 4-6 4-6 11/05/2015 16:12 weeks weeks use each use each year year in theinsummer the summer and has and had has the hadsame the same owner owner sincesince construction. construction.
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WATERFRONT LIVING
In the Pink IN BERMUDA
V
isitors to the pink-sanded beauty that is Bermuda needn’t worry about the country’s buttoned-up reputation. These days, it’s more flip-flops and shades with a Rum Swizzle in your hand. In its prime, this former British colony was the favoured weekend playground for Ivy League millionaires and captains of industry who’d fly in just to cruise the golf courses. But like an elite country club, the island has had to come to terms with the fact that highbrow is quite simply too high maintenance, and is trying to shake of its fusty image. Outdated customs are gradually being replaced by a laid-back urban style, best exampled by Bermudan businessmen clad in Bermuda shorts, jackets and ties, with the tourism focus now firmly on warm-weather values, in a bid to lure a younger, trendier audience. Covering just 21 square miles, the island boasts its share of high-end real estate and a healthy smattering of ‘A’ list owners including David Bowie and Michael Bloomberg. This bedrock of ‘new money’ combined with a robust economy has helped to shield the community from the worst excesses of a tighter global credit market. “The island has the third-highest per capita income in the world,” explains former Minister of Tourism David Dodwell, “with tourism and international business interests now permeating all aspects of island life. Hamilton, the capital also has a growing blue-chip presence with many big insurance and reinsurance firms relocating here thanks to the island’s favourable offshore tax regime.” Property values (underpinned by limited supply and little remaining land for development) are also faring well compared to other global markets, confirms James Dockeray of Deloitte Bermuda, down by just 2.5% in the past eighteen months. A government cap on housing stock sold to non-nationals has further sustained values, with just a handful of residences in 2014 made available for sale to foreigners at an average price of US$5million. It’s a policy that has helped to counteract a stratospheric rise in values and ensure that Bermudian residents are not priced out of their own market. “Potential investors can feel pretty secure about the intrinsic value of property here,” adds local agent Sam Weston. “If you’re a non-Bermudian selling your house for just the right price, it should sell, and we have a demand for just that, without reaching saturation levels.” Snapping up a stylish three-bedroom villa close to Hamilton, UK investor Janet Dickson moved to the island
Steadfastly British, this staid retiree haven is reinventing itself as a funky, ‘flip-flops required’ getaway, says Laura Henderson for a “better quality of life” in 2011, and hasn’t looked back since. “It’s an eclectic place, with some 65,000 residents many of whom are expats. It’s also a safe environment for families. There are no flashy casinos or mega resorts. Quaint traditions still very much apply.”
BUYING IN BERMUDA •
Non-Bermudians may only purchase property that is qualified by a minimum Annual Rental Value (“ARV”). For houses this is $177,000 and $32,400 for condominiums.
•
Houses with a qualifying ARV start at around $4m and condominiums at around $600,000.
•
Non-Bermudian purchasers must obtain a license from the Minister of Labour and Home Affairs. License fees are 8% of the purchase price of a house and 6% for a condominium. Current License Fees will increase as of September 30, 2015 to 12.5% for a house and 8% for a condominium.
For more information, go to: www.gov.bm
30 Abode2 // Volume 2 Issue 9
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Bermudian Rhapsody
OLD WORLD VALUES. NEW WORLD TECHNOLOGY. REAL WORLD EXPERIENCE.
For the global executive, Bermuda offers a perfect mix of business and pleasure. But when the time comes to purchase your island dream home, you need to add an experienced realtor to your team. At My Bermuda House we help busy, international clients find the right property, navigate the intricacies of the Bermuda market and ensure their purchase is completed efficiently. We understand the buying challenge from your perspective and we provide the quality of customer care that can put your mind at rest a continent away.
David Hyland
Maria Aguiar
Kelly Tavares
Duncan Dawson
Call My Bermuda House today. Because it’s not just a house, it’s your home.
+1 441 292 6245 www.mbh.bm
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Bermuda Real Estate: Sales, Rentals, Property Management
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WATERFRONT LIVING
Bermuda BUYER’S GUIDE Realtor David Hyland, a principal at My Bermuda House, explains the key steps foreign purchasers must take to ensure a smooth and secure property purchase
I
n a letter dated 1910, Mark Twain expounded on the advantages of the Bermuda life. “There are no newspapers, no telegrams, no mobiles, no trolleys, no trams, no tramps, no railways, no theatres, no noise, no lectures, no riots, no murders, no fires, no burglaries, no politics, no offenses of any kind, no follies but church, and I don’t go there.” Bermuda has changed a lot since the early twentieth century, yet its natural beauty, enticing climate, proximity to the Eastern United States and position as an international business centre ensure an ongoing demand for property. Other advantages also make the island attractive to foreign purchasers:
• A British Overseas Territory, Bermuda Law is based on English common law and the final court of appeal in any legal action is the Privy Council in London. • Legal tender is the Bermuda Dollar, which has been pegged to the US Dollar for more than 40 years. The currency peg lends stability to real asset values. • Bermuda has no income tax, corporate profits tax, or capital gains tax, though there a property tax and ad valorem Stamp Duty is assessed on the transfer of real property. • Owning property in Bermuda does not convey any citizenship rights, but property owners are entitled to reside in Bermuda and the rights of ownership are ultimately enforced by the Privy Council. If you are considering a home in Bermuda, it is advisable to engage a licensed and experienced realtor to help you find the right property, navigate the intricacies of the purchasing process and ensure that your purchase is completed in the most efficient way. Available Properties: Well-defined rules govern the acquisition of property by international purchasers and, in general, only about 5% of the housing stock of private homes is available to international purchasers.
• The mechanism used to determine the eligibility of these properties is the Annual Rental Value (ARV), a notional value assigned by the Land Valuation Commissioner. • Private homes must have an ARV in excess of $177,000 to be available to international buyers. Qualifying properties typically start at about $3.5 million with prices going as high as $40 million. • International purchasers may also acquire a condominium located in one of seventeen “designated developments” with a minimum ARV of $32,400. Prices start at approximately $600,000. Mortgage Market: Most overseas buyers arrange financing from private means or from banks in their home countries. However, financing options are available in Bermuda from the local banks. Legal Representation: You will need the services of a property lawyer to ensure clean title and convey the property as well as to apply for the required license from the Bermuda Government. Your realtor will introduce you to one of the many qualified property lawyers in Bermuda. Government License: International buyers cannot acquire a home in Bermuda without a license from the Minister of Home Affairs. The application process involves a thorough background check and so may take a few months to complete and there is a fee associated with the issuance of a License. Your lawyer will guide you every step of the way through this process. Fees and Taxes: The closing costs associated with purchasing a property have been reduced in recent years. All buyers must pay stamp duty on a sliding scale and conveyance fees, set by the Bermuda Bar Association, are also assessed. In addition, overseas purchasers are required to pay a fee for the Government license, which is currently set at 8% of the price of a private house or 6% of the price of a condominium. Volume 2 Issue 9 // Abode2 33
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WATERFRONT LIVING
Icon of Luxury Born in 1954, Buehler Turbocraft is a piece of American boating heritage. Now the brand is back and ready to seduce a high-end yacht loving clientele. Celia Woods reports
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hen launched in the fifties, Turbocraft initiated a new era of cruising. It was the first ever brand to successfully introduce the unique characteristics of water jet propulsion. The instant acceleration, the astounding manoeuvrability and clean lines from renowned designers instantly caught the imagination of the public. As a leading brand offering top-notch products, Turbocraft became the choice of the rich and famous. Its exclusive clientele included the Kennedy family and the US Secret Service who selected Turbocraft for its unrivalled performance and ease of maintenance. Ground breaking technology and distinctive elegance is a cocktail that even James Bond himself could not resist. In the 1965 movie “Thunderball” a 19-foot Turbocraft was used for a cameo role of taking Commander Bond back to shore with the beautiful James Bond girl “Domino” Derval.
water, beaching, rock-bottom maintenance costs and unrivalled manoeuvrability and acceleration. Penned by a talented team of superyacht designers, the boat is of course conceived as a perfect superyacht tender. The forward cabin epitomises the elegance and functionalism of this new design. Contemporary interiors boast wooden panels, fine fabrics and an original skylight window. Thanks to the smart use of space, the cabin can comfortably accommodate a queen size bed, bathroom/day head, entertainment system and heaps of storage. A standout feature: a real stair lift, almost 40cm wide, located at the back of boat, is like an extension of the sea. More than a boat, Turbocraft is already being hailed a new icon of luxury lifestyle on the waters – the perfect blend of comfort and technology. One could say it’s poetry in liquid motion.
The legend continues Bought by Swiss business magnate John Clapot-Auran back in 2011, the company’s new owner is determined to bring the brand back to its former glory and is well on his way to doing just that. After three years of passionate development - Turbocraft has launched Thunderclap, a 38-foot day boat offering a sophisticated design to cruise with style. A former brand manager at Ralph Lauren, Clapot has ensured all design touch-points are in play, combining luxurious finishings, stainless steel, leather, moulded wood and teak. The distinctive features such as the counter-stern, the fashion plate and the central buffet create a striking identity to socialise and chill out with class. On the technical side, the boat honours its pioneering ancestors with the use of water jet propulsion which bring with it, several unique characteristics: accessibility to shallow 34 Abode2 // Volume 2 Issue 9
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Abode2
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WATERFRONT LIVING
Living the dream
Synonymous with shared ownership in Barbados, the stunning Crane Resort is uniquely positioned to set a new investor trend, as resort spokesperson John Doyle explains
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icture the scene; sun, sea, sand and security in one of the Caribbean’s most desirable destinations. Owning a holiday home in sophisticated Barbados has always been an indulgence for the rich and famous, but these days a property is also expected to pay its way. New buyers still desire luxury but with easily manageable homes, affordable running costs and good rental potential. The Crane Resort has built its reputation on marrying spectacular oceanfront real estate, luxurious spacious residences and five star resort amenities and services with unprecedented value. In 1922, The Red Book of the West Indies reported: “The Crane hotel occupies a high cliff on the Southeast of the Island swept by fresh, invigorating breezes. From its windows, is displayed the beautiful sea fringed with exquisite colours, the white soft sandy beach of the hotel’s superb bathing place, that has no superior anywhere in the world.” This is the other side of Barbados, unspoilt,
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BEACH HOUSES THE OTHER SIDE OF BARBADOS Building off its exceptional reputation in the fractional ownership industry, The Crane’s sister property, Beach Houses is a new residential community in development on the secluded East Coast of the island. One of the many attributes that makes Barbados so special is that each of its coasts has evolved quite differently. Unlike the developed South and West Coasts, 99% of the East Coast is reserved as a National Park so future generations may forever enjoy its spectacular natural beauty. The remaining 1%, will be Beach Houses; 62 free-standing residences and a boutique hotel spread across a gently sloping hillside specially designed for those who want to get away from it all. The project marries the simple elegance and open spaces of contemporary architecture with the casual comfort of a traditional East Coast beach house. Each two and three bedroom property is generously scaled and beautifully appointed, featuring floor-to-ceiling glass windows and two (one for the main residence, the other for the ‘lock-off studio’) infinity edge pools with hot tubs, patios offering ‘no tan-lines’ privacy, outdoor showers, hammocks and barbecues. On completion, Beach Houses will feature two restaurants, a bar, a state-of-the-art wellness centre – all boasting panoramic views, as well as a full-service day spa and convenience store. 4 weeks annually, in perpetuity at Beach Houses start from US$162,460 (summer) and US$209,260 (winter) www.beachhouses.bb
naturally spectacular and, devoid of formality. The Crane’s residences have been designed to rival its views. Combining timeless period architecture, twenty-first century luxuries, and warm Barbadian hospitality; the residences offer an unparalleled resort lifestyle. Luxurious one, two and three bedroom residences range from 750 to over 4,000 square feet, most featuring large private swimming pools. Complete with full resort facilities, they include everything from furniture to corkscrews. A Barbadian legend since 1887, the resort has close to 130 years of experience in world-class service under its belt. Services and amenities include incredible cascading swimming pools with waterfalls, award-winning gourmet and casual restaurants, an ocean view beach elevator, lit tennis courts, a fitness centre, spa and acres of tropically landscaped gardens. 4 weeks annually, in perpetuity at The Crane start from US$35,580 (summer) and US$62,880 (winter) www.thecrane.com Volume 2 Issue 9 // Abode2 37
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DESTINATION LONDON
PRIME TIME Fuelled by rising levels of investment by developers, a need to house a growing population and increasingly sophisticated buyer tastes, London’s residential axis is shifting, with Battersea staking a claim, says Andrew Reeves co-founder of Londonbased prime residential property services group Totalis Prestige To what do you attribute Battersea for being catapulted into the realm of Central London greatness? I liken the regeneration of Battersea to that of Mayfair during the 18th century, when 285 acres of poor quality farmland and marshes were drained by the Grosvenor Estate to create the most desirable district in London as a magnet for the aristocracy of the day. Stretching south from the river Thames, Battersea has been transformed in recent years into one of the most sought-after and popular residential areas in London, with easy access to the City and West End; and things are set to become a whole lot better. With its magnificent open spaces, fabulous choice of shops, restaurants and excellent schools, the area attracts a vibrant mix of young professionals and families alike, many of whom have migrated south of the river from the more expensive areas of prime central London such as Kensington and Chelsea. Redevelopment of Battersea Power Station and Nine Elms
is by far the largest and most exciting regeneration zone in central London and includes gentrification of the last remaining light industrial space, with 3km of the Thames riverside being opened up to the public, creating a brand new stretch of London’s South Bank.
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The imminent arrival of the American Embassy is spurring the relocation of other diplomatic missions south of the river. The Chinese government has shortlisted the area for its new diplomatic headquarters. Blue chip corporations are due to follow, which will also boost investment appeal. All in all, the area is set to become a modern, exciting and prestigious destination – a remarkable new riverside district with character for central London, where people will choose to live, work, visit and relax. Do you see the high-end core Battersea zone helping to gentrify offshoot areas? Battersea has already seen a sharp increase in the number of professional residents moving into the region from north of the river. The area offers a wide variety of property to satisfy all tastes and has grown in popularity during the last few years, specifically from well-heeled families snapping up family houses, heralding the term ‘emerging prime’. Conversion flats, Victorian and Edwardian period houses, tree-lined streets with grand mansion blocks such as Prince of Wales Drive on the southern side of Battersea Park, all dominate the area; in contrast, there are also an increasing number of contemporary apartment block developments on the western end of the river side, designed by award-winning architects such as Richard Rogers and Norman Foster. The Shaftesbury Estate in the north of the area was built
in the 1870s to provide housing for the local workforce. It is now a conservation area and provides cottage style houses which recently have become very popular with professionals who seek a house rather than a flat; it is close to Battersea Park, Queenstown Road and Clapham Junction mainline rail stations. Beyond the Shaftesbury Estate lies the Diamond Conservation Area which also provides well built houses and maisonettes on tree lined streets. Which residential projects do you consider a case study success story for developers and buyers alike? During the last few years, riverside developments along the Thames have flourished in popularity and the Battersea/Nine Elms regeneration scheme is at the pinnacle of this, virtually selling all property stock as it becomes available and managing to secure a vast array of retail tenants, boutique hotels and corporate investment. The great advantage with Battersea over other development locations in London, is its close proximity to the west end and central London. We advised our clients back in 2012 to invest in the first phase of the Riverlight Nine Elms development. At that stage, building work had hardly begun and we worked closely with our clients advising them on the nuances of purchasing property ‘off plan’. In a rising market, an off plan purchase can make significant gains in capital growth even Volume 2 Issue 9 // Abode2 39
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DESTINATION LONDON
price change represents a slowdown from the end of 2014, when prices were rising at an annual rate of 11.4%. Whilst it all hinges on confidence, I hope a stable market will prevail as key indicators show a likely bounce back as we approach the all-important autumn market, with five years price growth forecasts for London of between 20% to 25% widely reported.
before completion, but it is also vital that due consideration be taken to a myriad of influencing factors such as stock availability throughout the build process, potential view restrictions due to future developments and even whether a client would prefer an east or west facing balcony. The huge interest in this development generated from around the world, especially from Singapore, Hong Kong and China; clients who secured properties early in this development have already seen exceptionally high returns on their investments, with growth of over 130% during a timeframe of just three years. This insatiable appetite for high quality is set to make Battersea an extremely high-end core zone district of London for many years to come. 2019 will see the area move one step further when the Northern Line is extended and the district is blessed with its first London Underground link. Where do you see prices heading at this point? A £1billion transport improvement package, together with the existing CAA approved heliport in Battersea, will make Battersea and Nine Elms on the South Bank one of the most accessible and well-connected parts of central London. Two new Northern line stations at Nine Elms and Battersea Power Station will create fast, direct links to the West End, City and North London, cutting travel times to the City (12 mins) and Leicester Square (14 mins). The Vauxhall Gyratory will be remodelled to create a more pedestrian and cycle friendly environment and a new foot bridge across the Thames will link the area to Pimlico and Chelsea on the opposite bank. For those who purchased in Battersea during the last five years, property has been a very sound investment, with spectacular capital growth during 2013 and 2014 exceeding that of prime central London. However, as befits an election year in the UK and with the potential for further taxation of high value property, demand levels dropped during the first quarter of 2015 and, as a result, so have transactions and values. Across prime London, the average price paid per square foot was 0.5% lower when compared with the first quarter of 2014. This rate of annual
Where would you recommend investors buy in Battersea for capital appreciation, but also for the liveability factor? When considering your next property investment, either in which to live or to let, it’s important to understand the ‘ripple effect’ that gentrification brings to an area; with the key criteria being able to spot where those next up-and-coming areas will be, ideally before anyone else. Regeneration of the Battersea district still has a way to go, especially when looking from the perspective of the buyto-let market. Take into consideration the emergence of the ‘diplomatic district’ alone, with the many thousands of employees and visitors that both the American and Dutch embassies will attract to the region, and you start to understand why Emerging Prime is now seen as the sweet spot of the professional private rented sector. Rents in Emerging Prime have been growing steadily in recent months, further strengthening the allure of the area for investors; whilst in adjacent Clapham, smaller unit sizes, particularly flats, are attractively priced for investors hungry for yield (3.7% - 5%) in the current low interest rate environment.
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DESTINATION LONDON
Style Icon STATION Labelled the ‘jewel in the crown’ of central London’s significant regeneration area - all eyes are on Battersea Power Station’s reincarnation as a brand new residential community. But just who will be living there? Stevie King investigates
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2 years a derelict shell on the South Bank of the River Thames and Battersea Power Station is enjoying a new lease of life. Behind the £8billion top-to-toe makeover that will see will see this vast 42-acre former industrial brownfield site transformed into 4,000 homes, new retail and office space, exciting leisure operators and 18 acres of public space, is a coterie of big-name architects and developers among them, architect Frank Gehry, who contends that the new community will be a vibrant hub attracting people, “from all over the world – one that connects into the historic fabric of the city of London, but one that has its own identity and integrity.” Wind back the clock a few years and this carefully-crafted PR sound-bite would have been shrugged-off as little more than a property pipe-dream, but industry indicators suggest that Gehry’s crystal ball is remarkably accurate. Redevelopment for one, has been quick off the mark, as has investor take-up, with phases one and two as good as sold out before the first brick was laid, delivering 1,120 homes under new ownership. Now
into phase three – pump prime funding will deliver a further 1,300 apartments and townhouses, alongside a 160-room hotel, retail and leisure facilities, with the first residential units expected to be ready for occupancy in 2016.
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It’s not a bad reincarnation for the red-brick Colossus once deemed a blight on the capital’s landscape; its coal-fired chimneys, when in operation, blamed for casting a leaden veil over the capital’s skyline. In 1977, the building became a global icon when it featured on Pink Floyd Animals’ album cover, nostalgically creeping into the UK’s affections as a symbol of the nation’s decline as an industrial powerhouse. The arrival of a flush Malaysian investment consortium comprising S P Setia, Sime Darby and the Employees’ Provident Fund in 2012, kick-started the site’s redevelopment journey – and they are not the only property power players taking an interest in this part of town. A string of other developments scattered along the southern riverbank including Nine Elms, London’s largest residential construction zone, is also now under construction. As with most of the city’s biggest developers, Battersea Power Station Development Company (BPSDC) is offering its homes to locals first: 56% of homes sold to date have been bought by Londoners, scaling up to 75% of the 254 homes to be built on the roof of the power station itself. Not surprisingly, the properties are also being marketed around the world. For Chris Innes-Ker, associate at John D Wood & Co, one of the largest estate agents in Battersea, the project, has, without question, taken on a life of its own. “It’s a truly unique market – the buy-sell methodology is completely different.” Homes in the northern half of Phase 3 designed by Gehry Partners (Prospect Place) and Foster + Partners (Battersea Roof Gardens) are already peaking investor interest. “40% larger” than the average new-build home in London, apartments range from studios to four-bedroom town houses, with a small number of penthouses with vast roof terraces and views over the Power Station to the River Thames. Units sport polished concrete floors and worktops, raw brass fittings, and ‘industrial chic’ copper bathtubs. Almost all have private
outdoor space in the form of a winter garden or balcony. Residents can also tap into an extensive array of amenities including an impressive 355m linear garden - that crowns the ‘Battersea Roof Gardens’ building, gyms, penthouse bars and clubhouses. Price points - £3.2million for a four-bed penthouse and £495,000 for a studio flat are seemingly proving no investment deterrent for buyers. Indeed Rob Ticknell, CEO of Battersea Power Station Development Company counters that BPSDC has sacrificed larger profits to build some cheaper flats in a bid to attract “a good mix of different types of people”. “There will be 580 homes to rent and buy at below market prices, making the power station one of London’s largest affordable housing developments, with plenty of investment options for young professionals.” For Innes-Ker however – the Station is equally appealing to foreigners. “The wealthy in many Asian countries associate new build with quality. They are often more comfortable buying into a brand new development than a classic mansion block in traditional districts such as Knightsbridge and Mayfair.” For Graham Sibbald, a planning adviser who has worked on major urban planning projects around the world - Battersea has three crucial factors on its side: “Its heritage status and a well-designed master plan give it a good chance of succeeding,” he says. “Mixing homes with retail and office space also helps, because it creates “a 24-hour new place”. The real gamechanger though, is accessibility – in 2019 the whole area will go one step further when the Northern Line is extended and Battersea is blessed with its first London Underground link.” Ironically it’s this lack of access that has long been touted as one of the main reasons the area has managed to stay under that radar despite its location within the eye line of Chelsea. If the developers’ plans come to full fruition, London’s residential grid will be forever changed. Volume 2 Issue 9 // Abode2 43
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DESTINATION LONDON
Prime is money The only property management company that focuses solely on prime central London developments, Rhodium offers a world class service to international residents increasingly drawn to all that London has to offer. By Deborah Battsek
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hey say that behind every successful business lie great business principles. Rhodium is no exception. Founded in 2011 by property entrepreneur Dean Main to meet the demand created by the significant growth of London’s rarefied super prime residential property market, the company has since garnered a reputation for providing the highest level of bespoke support for landlords and occupiers alike. Rhodium’s business operates on two tiers – the management of multiple homes in specific residential developments, and the management of individual residences for private clients. Private clients are offered a menu of bolt-on options from which they tailor their own bespoke service requirements. Unlike its competitors however the company has not embraced a business model built on scale, preferring to concentrate instead on delivering exceptional service twenty-four hours a day, three hundred and sixty-five days a year to a very niche market. Dean Main, Managing Director explains: “By focusing on this core market, we are able to offer a consistent level and quality of service not seen elsewhere”. Clients are the elite of luxury residential development and include among others:- The Lansbury (Finchatton), Buckingham Gate (Brockton Capital), Albemarle Street (Glebe), and Vicarage Gate (Northacre). Currently managing a PCL development portfolio of £2bn, this figure is set to increase to £5bn in the next two years, when the company scales up to
managing approximately thirty schemes. Adds Dean: “Recognising that what commercial clients need most is a service partner committed to providing a level of care which clearly reflects the values of their developments is key. The service must be in line with such a significant investment - offering an impressive ‘menu’ of services from pre-planning advice to developers, to the seamless take-over of an entire block on completion.” As for private clients – they are offered a range of bolton options so that they can customise their specific service requirements and in so doing, Rhodium is able to keep service charges for whole blocks at a relatively modest level. Uniquely, every private resident is assigned a single point of contact with one, fully trained, manager whom they know and trust. Dean continues: “This point of difference really sets us apart from our competitors and allows our clients to get to know their manager and build up a personal relationship built on trust and transparency”. London is on the radar of the global elite. Whilst markets may fluctuate, there will always be demand for the golden postcodes. As a business, we are committed to delivering a management and lifestyle service that always exceeds expectations. Dean concludes: “Whether it is a design trend, management requirement or service issue - we have to make sure we know about it before our clients do”. www.rh-45.com
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Abode2
U N D E R S TAT E D L U X U R Y Y O U R M AY FA I R A D D R E S S AT A F R A C T I O N O F T H E C O S T
Frequent travel and hotel stays can be soulless and fatiguing, whilst buying a second home for occasional use – with initial outlay, tax implications and commitment of managing a property outright – rarely seems justified. 47 Park Street is an exquisite Mayfair property, offered on a unique fractional membership basis. Our privileged members enjoy the privacy and comfort of home plus the lifestyle benefits associated with one of the most desirable addresses in London. We know our members by name and cater to their tastes and preferences, ensuring that every visit feels like coming home.
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Data Protection: Your personal information and details will be stored in a database controlled by MVCI Europe Limited and may be used and transferred outside the EU to Marriott Vacation Club International companies and their approved agents worldwide (including but not limited to, countries with a lower or higher level of data protection standards) to administer this promotion and to advise you of other offers. To exercise your data protection rights of opposition, access, rectification and deletion, you may write to the Consumer Affairs Manager at: MVCI Europe Ltd, Barnard’s Inn, 86 Fetter Lane, London, EC4A 1EN, UK. IPL-15-001. THIS ADVERTISING MATERIAL IS BEING USED FOR THE PURPOSE OF SOLICITING THE SALE OF FRACTIONAL RESIDENCE CLUB MEMBERSHIP. Subject to applicable terms and conditions. This is neither an offer to sell nor a solicitation to buy to residents in jurisdictions in which registration requirements have not been fulfilled or where marketing or sale of fractional residence club membership is prohibited and your eligibility and the membership clubs available for purchase will depend upon the jurisdiction of your residency. Prices are subject to change. Key information is available upon request by contacting 47 Park Street Grand Residences by Marriott, Mayfair, London, W1K 7EB, United Kingdom or email yourabode@47parkstreet. com.Marriott Vacation Club International and the programs and products provided under the Grand Residences by Marriott brand are not owned, developed, or sold by Marriott International, Inc. Marriott Vacation Club International uses the Marriott marks under license from Marriott International, Inc. and its affiliates. © Copyright 2015, Marriott Vacation Club International. All rights reserved.
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DESTINATION LONDON
One
Direction With the decisiveness of the election result comes a myriad of issues the property industry may have to contend with. Rupert Collingwood of the London Management Company assesses what the future holds for those with a vested interest in PCL bricks and mortar
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he property market spent much of this year reciting the same politically charged rhetoric in light of the impending UK general election. The overriding sentiment was uncertainty as the direction of the market would be entirely dependent upon which political party or coalition would collect the keys to Number 10. Overseas buyers in particular, were especially reticent to engage with the market due in no small part to their sensitivity to the proposed political changes as well as the potential changes to the overall economic and tax environment. So there was much rejoicing when the Conservative party achieved an overall majority which in turn has provided some much needed clarity to the property sector. Stability and confidence returned within days of the result and it is likely that prices will strengthen over the coming months and years. Prior to the election, there was a lack of stock holding the market hostage as vendors were reluctant to sell their assets at a time where prices were soft and no one knew the potential taxes and levies of the near future. The property stores are now being replenished thanks to growing confidence especially with the demise of the mansion tax as well as no further threats to the non-domicile status that would have been in the crosshairs of any Labour lead coalition. The Conservative win has also strengthened the GBP against other currencies and positively influenced the FTSE index which is fantastic news for our economic stability. Although the strength of the pound makes the purchase slightly more expensive for most, it brings with it a confidence
in UK PLC, and as such in a relatively short space of time, we have seen enquiries increase significantly. London’s bricks and mortar have always been popular with international investors looking to place their capital in a secure marketplace as well as find a base from which they can operate be it for work or education. The election result means that our fair city will continue to welcome those individuals looking to benefit from the numerous business and investment opportunities that only such a diverse metropolis can generate. It is of course our job to ensure that those looking to secure a property in London, do so with the best possible advice and with a professional on their side. We recently bought a third property for a client in the Royal Borough of Kensington and Chelsea. This purchase was for use as a personal residence and was being marketed for £3,995,000. Thanks to our knowledge and expertise - we secured the property for our client at £3,560,000, securing a saving of over 12%. Our fee was 2%. With buying power comes responsibility. A property can seem like a bargain, but there can be underlying issues such as a short lease; restrictive covenants; a tube running in close proximity, alongside other potential problems. As such, it is always wise to have a property expert on your side who is able to help you navigate through the purchase process. At The London Management Company, we provide property search and management services working solely for the buyers and owners to make sure their investment is safe now and lucrative in the future.
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Magazi
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DESTINATION LONDON
Talking Points Goodbye grey as luxury interiors go bold and bespoke. New brand KENSA Designs promises to transform furniture into dinner party talking points, as Laura Whateley discovers
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here is a worrying trend for conformity in interior design, believes Sally-Ann Maine-Tucker, director of new high-end luxury brand KENSA Designs, with too many people opting for safe but reserved and sober colours in their home. She is shaking things up with her striking, unique furniture; antique pieces lovingly restored and handpainted with colourful art works made up of thousands of tiny brushstrokes. Each piece is entirely unique and created in collaboration with her work partner, artist Ken Hooks (the KEN of KENSA, she’s the SA) and specially chosen expert antique furniture restorers and lacquerers. The process, once the item of furniture has been sourced from an antique dealer or auction house, takes about three months, from restoration to painting and finishing. KENSA Designs’ existing collection includes an almost two metre high and three metre wide carefully refurbished 1940s gentleman’s wardrobe with fine copper handles, adorned with
a huge, resting white tiger. An elegant antique sideboard on narrow scalloped legs, originally by famous cabinet makers Waring and Gillow from 1932, has been transformed into a view of Venice, the top painted in marble effect. More colourful still, is the pop-art inspired goldfish painted chest of drawers, on a turquoise base, its drawers lined with bright orange suede and knobs made from bubbled-glass. Though all KENSA Designs’ existing collection is for sale, priced from £5,000 to £20,000, Sally-Ann hopes that buyers looking for something unique for their own home will use the existing work as inspiration to commission their own designs. “We take bespoke commissions to work in any setting. We can source furniture to fit with an image that a customer may have, a landscape that brings back fond memories, a favourite painting, even a family pet. We can also work to restore and paint furniture that someone already has but thinks needs a new lease of life.”
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At an initial personal consultation with Sally-Ann and Ken, over the phone, online, or at their onsite studio in the grounds of her home in Surrey, they will find out a bit more about what it is you want to create. Sally-Ann will then, if you wish, visit you at home to help analyse the space, discussing what colours, sizes and shapes of furniture would compliment a room. “We want people to participate and be involved in the process of design. We are creating something personal and unique and want buyers to be excited by it.”. When your furniture is finished, Sally-Ann will personally deliver it if you live within the UK, assembling it in your home, or arrange shipping if you are based overseas. “Everything is possible,” she says. “We can add quirky finishes, gold leaf, materials like velvet. Unique handles, antique mirrors. We want to make pieces that are as individual and personalised as we can.” KENSA Designs was founded two years ago, after a serendipitous meeting of Sally-Ann and Ken in a hardware shop in 2009. Sally-Ann, who gave up her city trading job after 25 years to start the business, was looking for someone to help decorate her Baillie Scott arts and crafts style house. Ken took on the job, which took four years, during which time it became apparent he was a talented artist, too, and started reviving old brown furniture that Sally-Ann found drab. Ken, who studied at Reigate School of Art and has been highly commended by The Royal Society, is a sculptor and metal designer, as well as keen painter. Sally-Ann has long enjoyed interior design and doing up properties herself, “as soon as I’ve finished one I’m on to the next.” They have spent the past two years creating their collection and are now starting to exhibit in shows such as Elite London and Decorex International, which includes some of the UK’s finest luxury brands. Sally-Ann’s favourite items include a 1920s ornate wardrobe, painted with a magnificent grey stallion, in honor of her love of riding and horses. Ken, having spent many years stalking in the Highlands, was inspired to paint a grand stag on a 1920s cocktail cabinet, which would sit perfectly in a wood-panelled
country home. Inside the glass shelves have been replaced and each detail, such as the decorative metal work and ornate key holes, have been taken apart and restored. Much thought goes into marrying the image with the individual piece of furniture. When they decided to paint a regal peacock, they spent weeks finding a set of drawers that would enable Ken to imagine the bird true to scale. The green chest now sits in Sally-Ann’s dining room and is a constant source of lively conversation among friends at dinner parties. One of the many benefits of avoiding the same old boring beige.
Elegance, like no other Exquisite artwork hand painted onto antique and bespoke furniture - truly one of a kind.
www.kensa-designs.com +44 (0) 1883 718 910 Volume 2 Issue 9 // Abode2 49
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DESTINATION LONDON
LIVEand LET BUY
With its superlative selection of detached homes - Chelsea has overtaken Knightsbridge as the location of choice for the super-rich. By James Matthews
T
he beating heart of all that is stylish about London, Chelsea was once described as a ‘village of palaces’; a moniker that still rings true today. A truly cosmopolitan neighbourhood, the Swinging 60s and New Wave 70s helped mould the district’s fashionable persona, but it was its gentrification during the mid-1980s that underpinned its upscale transformation; a well-heeled demographic that continues to feed the area’s house price premium. Despite being one of London’s smallest boroughs, Chelsea’s geography is surprisingly diverse. Bounded to the south by the River Thames, its frontage runs from Chelsea Bridge spanning Chelsea Embankment, Cheyne Walk, Lots Road and Chelsea Harbour, its modern eastern boundary embracing Chelsea Bridge Road and the lower half of Sloane Street, including Sloane Square, along with parts of Belgravia. To the north and northwest, the district fades into Knightsbridge and South Kensington, although it is safe to say that the area north of
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King’s Road as far northwest as Fulham Road is still resolutely part of the borough. “Chelsea effectively consists of two main postcodes SW3 and SW10 but also includes small sections of SW1,” confirms buying agent Julian Batting: “The most desirable parts to live are around Sloane Square and Knightsbridge tube. What gives it its unique appeal however is that it offers such an eclectic lifestyle mix – fabulous shopping, a cultural feast of museums and art galleries plus plenty of outdoor space to relax in at Hyde Park, Battersea Park, and the Physic Garden. Increasingly we’re seeing an upturn in interest due to the higher proportion of large family homes available, compared to the West End. The area is especially well-known for its shared private gardens; a real investor draw for families looking to settle in the area.” Property Market Demand for prime property continues to appeal to both a domestic and international audience, confirms Shaun Drummond of Harrods Estates. “The impressive projected 1 year average house price growth of 7.5%, alongside a central location provide an all-round great investment,” he adds. “Price per square foot varies between £2,000 and £3,000 for a house with a garden and a garage, and sometimes considerably more.” As to top locations - Georgian houses in Cheyne Walk may sit on a busy road but come with beautiful views of the river. The tranquil squares off King’s Road - Wellington, Markham, Paultons and Carlyle - are also highly sought after. Adds Ben Osborne of the Farrar Group: “Carlyle Square is particularly popular because the Square isn’t listed, so buyers have more of blank canvas when they apply for planning permission for extensions.”
PROPERTY FAST FACTS •
House prices in Kensington and Chelsea have risen by 37% over the past five years.
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More than half of London’s most expensive streets can be found in the Borough. Bijou studio flats for sale start at £300,000, escalating to multimillion-pound price tags on palatial detached homes.
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London property sales figures for 2014 by estate agent Russell Simpson reveal that Chelsea accounted for 18% of London sales over £6.5 million. This topped Knightsbridge, with 14%, and Kensington, with 12%.
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Much of Chelsea is still owned by Earl Cadogan, through the Cadogan Estate which covers 93 acres including an unbroken stretch from Hyde Park to the King’s Road.
Property Choice The district encapsulates a diverse real estate portfolio, the core of the original village, by the Thames, retaining some impressive Georgian properties; the wider architectural mix embracing studio apartments and bijou mews houses to detached villas and grand townhouses, regal red-brick mansion blocks and Arts & Crafts houses built in the years between the First and Second World Wars. For palatial detached and semi-detached houses, The Boltons and Tregunter Road remain in much demand, confirms Shaun Drummond. For quaint cottages and mews houses, South Kensington, and such roads as Claireville Grove, Bolton Gardens Mews and Queensgate Mews are very popular,” he adds. For impressive lateral apartments, the area around Cromwell Road: Queen’s Gate Gardens, Onslow Gardens, Onslow Square and Evelyn Gardens are prudent choices. As for contemporary riverside developments, try Chelsea Harbour and Grosvenor Waterside,” adds Ben Osborne. Enjoying a certain notoriety at present is the £3billion development of the Chelsea Barracks site on Chelsea Bridge Road. This ambitious master plan will feature 448 new homes, leisure facilities with five landscaped acres of public and private gardens. The project is expected to be delivered in six phases the first tranche of 74 apartments topped by 2 level penthouses designed by architects Squire and Partners are due to complete by 2018. Prices will range from £2million to over £50million. Volume 2 Issue 9 // Abode2 51
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H O M E TO LO N D O N ’ S M O ST EXC LU SI V E PRO PE RT I E S
• LONDON RESIDENTIAL SALES • LONDON RESIDENTIAL LETTINGS • ACQUISITIONS • NEW DEVELOPMENTS • ASSET MANAGEMENT • PROPERTY MANAGEMENT
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Established 1897
H ARROD S E STATE S For the British elite, the capital is a natural home; for overseas clients, it’s a financial and cultural hub which offers opportunities for potentially prudent investment. Specialists in residential sales and lettings, new developments, asset management, property management and acquisitions, Harrods Estates holds the key to this thriving market. The agency shares the global reach of the Harrods brand, and provides dedicated Middle Eastern and Russian desks, as well as translators – including Mandarin speakers. Wherever a client calls home, they can access London’s most exclusive properties through Harrods Estates.
THE HA RROD S G ROU P In line with the store’s ethos of providing excellent customer service, Harrods Estates has access to all the Harrods Group facilities. These include: The Studio, Harrods’ interiordesign service; By Appointment, Harrods’ personal-shopping team; Corporate Service; and Harrods Concierge. Harrods Estates customers are automatically enrolled into the Harrods Rewards loyalty programme and will be eligible to earn Rewards points.
KNIGHTSBRIDGE OFFICE: 82 BROMPTON ROAD LONDON SW3 1ER T: +44 (0)20 7225 6506 MAYFAIR OFFICE: 61 PARK LANE LONDON W1K 1QF T: +44 (0)20 7409 9001 CHELSEA OFFICE: 58 FULHAM ROAD LONDON SW3 6HH T: +44 (0)20 7225 6700 KENSINGTON OFFICE: 48-50 KENSINGTON CHURCH STREET W8 4DG T: +44 (0)20 3650 4600
HARRODSESTATES.COM @HarrodsEstates
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DESTINATION LONDON
Bridging C U LT U R E S Jane Slade talks to Russian architect Alexander Rakita about designing complex homes for complex clients
A
lexander Rakita heads up an architectural practice that works in the most challenging intercultural and specialised situations. “It is our USP,” he declares. “It comes from my personal background.” Rakita was born in Moscow, studied in Paris, worked in Dublin and is now based in Camden Town, North London where he has established his architectural firm AR Architecture. He is conversant in English, Russian and French and his staff speak seven languages between them. “I am used to living and working in very different environments,” he adds. In 2010 he moved to London for a new challenge after a transatlantic spell jetting between his previous company’s creative offices in Ireland and Abu Dhabi. During the last five years he has captured a market in Russian-speaking clientele as well as those from Europe and the Middle East. “Knowing the cultural differences is key,” he says. “Everything here is done in a very different way than in Eastern Europe, Asia and Russia. Some of my clients find it difficult to grasp these differences. My job is to bridge these cultures. I see relationships break down with other architectural companies
because they fail to understand these differences.” What connects all his clients though is their high expectations. “They all expect a high level of service and workmanship. This means employing the best builders who are
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used to workmanship of a high standard, and have a very good understanding of what is required.” Clients expect a premium level of service. “My clients only want to deal with the boss so you tend to be on call 24/7.” AR Architecture specialises in creating high-end residential homes. The firm has already won two prestigious awards. Last year it scooped a European Property Award for Best Hotel Architecture in Russia (for the Hyatt Regency Rostov DonPlaza Hotel) and the UK Property Award for Best Architecture Single Residence London (for a prestigious refurbishment project in Primrose Hill London). And this year it is a finalist in the London Construction Awards for London Architectural Firm of the Year. “London is a treasure house of architectural style,” says Alexander. “We often work on complex historic buildings, collaborating with prestigious London authorities and institutions, including Grosvenor Estates, Crown Estates and Westminster City Council.” His clients range from wealthy Russian businessmen who have made London their main home, to investors who have a number of properties and want to add to their portfolios. Since establishing his business, Rakita has seen the market change dramatically. “It started in 2012 when property prices began rising,” he says.“The market became very active; it was a good time for us as we were promoting our business at a time of growth.” His clients have changed too. They have become more enterprising. “The Russian buyer has become more entrepreneurial, not only buying a place to live, but also looking to invest commercially – and looking at all aspects of the real estate market. Investors generally want to make a quick profit so are now looking at areas outside London such as Virginia Water in Surrey.” He adds that Mayfair, Belgravia and Knightsbridge are still the hotspots for a main home but people are now considering Hampstead and Highgate and even further afield. “The economic situation in Russia has meant that wealthy Russians no longer see their homeland as a good place to invest and are looking to London instead.”
But they are also looking for a different type of property than the British buyer. “British clients are more open to contemporary architecture, whereas foreign clients prefer historical buildings where they can recreate a certain nostalgia for the past.” Rakita’s biggest challenge is advising clients on the time it can take to secure all statutory approvals before building even starts. “It can be up to 18 months in some cases if we have to get permission from English Heritage and Grosvenor Estates. Obviously this particularly applies to listed properties which are more popular with Russian buyers.” His other major preoccupation is using his design skills to maximise space, which can be limited in homes in the capital. “We like to find non-conventional solutions such as the 1970s property we refurbished in Primrose Hill,” he says. “At Quickswood House we built a glass wall down two sides of a North Facing extension and extended the green roof so it was pitched at an angle which allowed the glass to catch the sunlight at sunset. It was an effort persuading the planners but they did agree and it won an international design award.” The owner, a Ukrainian businessman and politician, paid £390,000 for the makeover. It is now worth some £2.7million compared to just £1.5million un-refurbished. Other design innovations included incorporating a huge fish tank to bring light from the South-facing kitchen to the living room and through to the dining area. “We like to work with space and light; and zone areas of a dwelling so it follows sunlight hours throughout the day,” he says. He is currently upgrading a 12,000 square foot property in London’s Eaton Square which is costing over £10million. The client, a Russian businessman is building a home for his family. The grade-two star listed Georgian building has 10 bedrooms, 14 bathrooms, staff accommodation, a swimming pool and gym. Technological innovations include sliding roof lights which when retracted offers a large outdoor space on the 4th floor. Rakita adds: “We’re also incorporating an elaborate mechanical system for ventilation, air heating and cooling instead of radiators, and hope to install a state-of-the-art sliding glass roof over the courtyard.”
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DESTINATION LONDON
London Luxe
Stevie King meets Kate Bond, CEO of luxury property search and acquisition consultancy Crown Mayfair and discovers why Chelsea remains a top-tier location for real estate investment
V
oted one of ePrivate Client’s Top 25 Residential Property Buyers, Crown Mayfair is one of London’s finest acquisition consultancies, sourcing and purchasing property on behalf of private clients and investors since 2008. With an extensive career in the London property market, CEO and founder Kate Bond created the consultancy with the intention of providing bespoke property services, built on trust, transparency and integrity. In the last few years alone, the company has sourced in excess of £250 million worth of residential real estate, nearly 40% of which being acquired in Chelsea and half of this as super prime trophy assets. “Crown Mayfair has built a strong and extensive network within the industry which enables us to frequently target desired locations, opportunities and entire developments, many of which have yet to come to the open market,” explains Kate. “In fact, our statistics show that 40% of the properties we have acquired for clients have been off market. In an environment with such high demand and often restricted supply, having this off market capability can make all the difference in finding and securing the right property.” As London’s second smallest Borough, Kensington and Chelsea is also one of the most populous places in the country; property demand is consistently high and it remains evident that the riverside region maintains its postcode prestige within the capital. As rich in history as it is in high value property, the Royal Borough has been home to peasants
and farmers, writers and royalty and in modern times, a plethora of celebrities and high net worths. The variety of property on offer is similarly as diverse, from prestigious mansion blocks and stucco fronted terracing to new luxury riverside developments and town houses. Kate comments: “Diversity is something we stress to our clients, creating a broad portfolio with varying property types helps spread risk, appeal to various tenancy sectors and provides reliable sources of income. It is this diversity, combined with the amenities and reputation that makes Chelsea such an attractive area to live and to invest.”
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Abode2
Crown Mayfair offers a service that is discreet, efficient and transparent.
Built On Trust T +44 (0) 203 405 3206 | E info@crownmayfair.co.uk | W www.crownmayfair.com
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DESTINATION LONDON
Mayfair Muse 47 Park Street - Grand Residences by Marriott offers a smart alternative to whole ownership in the exclusive heart of Mayfair. Celia Woods reports
W
ith the recent recession taking its toll on commercial property values, prime central London’s residential sector has witnessed a claw back on buildings for conversion back to residential use. Nowhere is this targeted regeneration more apparent than in the exclusive heart of Mayfair; a district which now rivals Monaco as the most expensive neighbourhood in the world. Just as Monaco’s Fontvieille area is snapping at the heels of Monte-Carlo when it comes to the highest residential prices achieved, Mayfair is now challenging Knightsbridge, with values standing at more than £5,000 per square foot with experts suggesting they will reach £10,000 per square foot in the next 10 years. As with all real estate purchases – ensuring sufficient enough usage of a property to offset tax, maintenance and upkeep costs can be a tricky feat to achieve. It’s this occupancy versus outgoings conundrum that has led a number of individuals to opt for a fractional ownership alternative; a prime example being that of 47 Park Street - Grand Residences by Marriott. Opened in 2001 by the Marriott International Hotel Group, the Residences Georgian townhouse location comes with an enviable pedigree. Purchased by flamboyant shipping magnate and racehorse owner the 1st Baron Milford in 1927 as a pied-à-terre for entertaining during his many sojourns to London – a top-to-toe refurbishment by the hotel group has delivered an exquisite blend of English character and French flair - 49 individually designed and impeccably appointed one and two-bedroom apartments, complete with works of art and
crystal lighting, sumptuous furnishings and state-of-the-art entertainment amenities. The 47 Park Street membership template is a user-friendly one. Based on a shared usage model, individuals can stay in their apartment for 21 nights per year for a night, two nights, a week or longer on each visit, with their property managed and maintained by Grand Residences by Marriott. Members, who are unable to use their full allocation, can also rent any remaining nights out via the Marriott rental pool; a service, which is managed by Park Street’s dedicated member services team. Explains 47 Park Street spokesperson Andre Gini: “Like any form of real estate, membership can be sold, bequeathed or transferred by the member and can also be incorporated into a company via a corporate purchase. Members may also make any part of their available nights accessible to family, friends and associates.” One of the key attractions for those buying in, is the usage format. Explains Gini: “Members like the fact that there is very little capital commitment. It also offers total flexibility, and means they can enjoy London as a home, whether it’s for business or pleasure or a combination of the two.” With over 500 members and less than 40 fractional interests remaining starting from £117,000 for a one-bedroom apartment, 2015 marks an exciting time in the final development of the scheme. “Membership at 47 Park Street equates to less than the Stamp Duty on a typical Mayfair property at around £1.7million. It’s the financially astute way to enjoy a superlative home-fromhome in London without the significant financial outlay.”
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Show Apartment now open – arrange a viewing today Located just five minutes’ walk from Old Street, 250 City Road is a landmark development designed by world renowned Architects Foster + Partners. These spectacular apartments and penthouses offer stunning City views as well as a host of residents’ facilities including a rooftop gym and terrace, luxurious 20-metre swimming pool and spa; concierge facilities and residents’ lounge. Two acres of landscaping at the heart of the scheme plays host to cafes, restaurants, retail outlets, creative workspaces and a 4* hotel. Public areas are fully Wifi enabled. The development is located between Old Street and Angel, with the City and Shoreditch on your doorstep.
1, 2 and 3 bedroom apartments and penthouses available – prices from £835,000
Details correct at time of going to press and subject to availability. Computer Generated Image of 250 City Road is indicative only.
250 City Road: ideally placed for work or leisure
Call: 020 7749 3810 or email: newhomes@stirlingackroyd.com In the last ten years, the Berkeley Group has created 436 acres of public space
www.250cityroad.co.uk 250 City Road Temporary Marketing Suite Goodman’s Fields, 39 Leman Street, London, E1 8EY Open 7 days a week 10am - 6pm (Until 8pm on Wednesdays and 4pm on Sundays)
Here at 250 City Road there will be just under 2 acres of public realm
For Your Future
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DESTINATION GOLF
Open FOR BUSINESS Scotland is recognised as having some of the finest golf courses in the world – but the Jewel in its golfing crown is without question the Old Course. James Matthews samples a slice of prime fairway action
J
ust think about this on the illustrious first tee: golf historians believe the game was being played here 100 years before Columbus reached America and more than 200 years before Shakespeare was hard at work in England. Today, the Old Course, with its expansive double greens and shared fairways, within view of The Royal and Ancient Golf Club, remains the most famous golf course in the world and a unique experience for golfers and sports fans alike. The course was founded in 1764 when the original design of 22 holes – 11 out and 11 back – was reduced to 18, the standard number we have today. Old Tom Morris and Alistair Mackenize subsequently redesigned the layout in turn, but both remained true to its natural footprint. Considered the most exacting test of golf prowess of any of the established championship courses, the course hosted its first Open in 1873 and has staged a further 28 since, the most recent in 2010, when the South African, Louis Oosthuizen was crowned champion. Peppered with intimidating bunkers, perhaps the most notorious being “Hell” bunker, the largest on the par-5 14th hole, the greens are so incredibly hard to read too
– the closing fairway stretch scuppering the hopes of many of the game’s most formidable players especially the penultimate “Road Hole” which immediately precedes the most photographed 18th green in the world, protected by the “Valley of Sin”, a deep swale that draws the ball like a magnet. For those lucky enough to secure a tee-time - be sure to soak up the atmosphere of this spiritual setting. After all, the course and its surroundings are an amphitheatre of history.
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FAST FACTS THE OLD COURSE
Golfing Greats In the course of its 28 Opens, St Andrews has a habit of picking winners who are the best of their generation. Tiger Woods produced performances in 2000 and 2005 that left him comfortably clear of the field, with victories by eight and five shots respectively. During the 2000 Open, Woods’ 19-under-par total surpassed the mark set by Nick Faldo ten years previously, when the Englishman shot 18-under-par to win by five. The list of winners goes on: Seve Ballesteros won at the Home of Golf in 1984; Jack Nicklaus lifted the Claret Jug here in 1970 and 1978; Peter Thomson and Bobby Locke won St Andrews Opens in the 1950s; and Bobby Jones created such an impression on St Andrews during his 1927 win – and it on him – that it proved to be the beginning of a lifelong connection with the ‘Auld Grey Toon’.
•
Despite golf originating in Scotland, the game was actually banned by James II in 1457 in an attempt to get the male population focusing on archery. The move was quickly reversed in 1502, leading to a growing popularity in the sport
•
Golf has been played at St Andrews Links for 600 years. In 1552 Archbishop Hamilton’s Charter recognised the right of the people of St Andrews to play golf at the Links
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St Andrews Links takes up almost 300 hectares and The Castle Course almost 90 hectares
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More than 230,000 rounds of golf are played on the seven courses each year with around 45,000 being played on the Old Course alone
•
The Open Championship has been played on the Old Course 28 times, more than any other venue. A study found that the 2010 Open Championship generated more than £100 million for the economy
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DESTINATION GOLF
The Links Effect The international sporting calendar is boosting investor interest in Scotland’s key note golf regions with St Andrews leading the way. Laura Henderson reports
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‘C
eltic Tiger’ Rory McIlroy knows how to give the golfing aristocracy a run for its money. The feisty young Irish player will be defending the Claret Jug at this year’s 144th Open after his victory at Royal Liverpool last year, competing against a pantheon of greats including three-time Champions Gary Player, Sir Nick Faldo and Tiger Woods not to mention firebrand peer Jordan Spieth. Mcllroy attributes his top tier success to sheer dogged determination and an aspirational spirit; attributes that Scotland’s golf real estate sector is harnessing to good effect at present in what is becoming an increasingly competitive investment niche in the global property market. A quarter of a century ago, Scotland had just a handful of courses. Today, more than 500 populate the landscape, and government officials say they want to expand that core to 700 by 2020, with provision for new housing playing a pivotal role in the tees and greens build-out. Figures released by the Registers of Scotland which keeps a record of all house prices in Scotland, reveal that properties located close to championship golf courses have made significant gains in price over the past five years, with the average price of a home situated within a 10-mile radius of Scotland’s five main golf courses £8-10,000 higher than the average price for a property in the country as a whole. The data also shows that during years when major championships are played – such as when Muirfield in East Lothian hosted the Open in 2013 – property prices rise even more quickly. “Detached house prices at Muirfield currently stand at £630,765 - significantly higher than the national average Scottish home of £285,355,” confirms Alexandra Wingate of ROS. “Next to Muirfield, St Andrews is the priciest of the group, boasting an average house price of £358,934. Even in comparison to other coastal towns, which are popular places to live, the figures show that golf course locations can command a property premium.” Competition from emerging (more affordably priced) golf destinations such as Turkey, Dubai and South Africa is however making it much harder to secure buyers. Graeme Hartley from the Royal Institute of Chartered Surveyors Scotland comments.
“Sunnier clime locations can be desirable for overseas buyers looking for a holiday home or buy-to-let investment,” he said. “That said, if a quality property is within playing distance of a major championship course, rental returns will be above par whatever the weather.” On home turf, St Andrews with its global golf pedigree has performed well in recent years, buttressed by The Royal and Ancient Golf Club and a blue-blooded university. Yet despite its prestigious stock of period homes, it is the newer renovation projects currently attracting the most interest from foreign buyers in search of a turnkey pied-à-terre. A prime example is Abbey Park. Located just a short walk from the Royal and Ancient Club House and New and Jubilee Courses, this 14.5-acre brown field site has undergone a £110million refurbishment by Scottish house builder Robertson Homes. Properties have large, bright and spacious rooms in cleverly designed layouts. Externally, the building’s elegant frontage has crow-stepped gables, traditional dormers and stone-and-render feature turrets to reflect its historic setting, with stunning views over the Kinness Valley. Prices are attractive too, starting from £375,000 for a two-bed apartment.
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DESTINATION GOLF
American hospitality and real estate group Kohler, owners of St Andrews Old Course Hotel, has its own ‘makeover’ offering in the guise of Hamilton Grand, one of the town’s most iconic buildings. Overlooking the 18th green of the Old Course, this pink sandstone six-storey residence designed by Glasgow architect James Milne Munro is the fourth historic UK property to be taken on by the company, who purchased the building in 2009. Comprising 26 private residences including two, three and four-bedroom apartments, ownership comes with membership of the 18-hole championship Duke’s Course on the outskirts of town designed by Open Master Peter Thomson. “High-net worth international buyers are a perfect fit for a residential project of this exceptional calibre. Residents are passionate about golf and Hamilton Grand is the ideal property for those wishing to play the oldest and best courses in the game, all year round.” adds Director of Marketing and Real Estate Helen Parker. Property prices start from £1.26million. Teeing up real estate interest in Perthshire, meanwhile a consortium of local developers are marketing Queens Crescent a private gated community overlooking the famed fairways of Gleneagles Resort Hotel. Priced at £1.3million, ‘Queens View’ is one of several bespoke-design residences in this prestigious 14-home estate. Properties come with a welcome sweetener of family membership to the Gleneagles Golf and Leisure Club. Says spokesperson Chris Hall of national sales agents Rettie who handle enquiries: “The Gleneagles factor has obvious appeal to golfers around the world, spurred on by last year’s Ryder Cup, but non-inflated price levels are the real draw £400 per square foot is appreciably below rival luxury offerings worldwide. In Hong Kong prices average £7,500 per square foot and in Mayfair in London sales are achieving £5,000 per square foot. With Edinburgh and Glasgow just an hour’s drive away, demand for holiday lets is also in plentiful supply.” Head to Scotland’s north-east corner and the scenic Moray region and Maverston Highland Estate occupies a tranquil
countryside setting, close to the village of Urquhart. Set within 126 hectares of lush countryside and boasting two golf courses, planning permission has been granted for a phased build-out of 40 luxury homes - phase one comprising 12 plots priced from £95,000 to £130,000. Design plans are also available for a range of 16 different house styles by the renowned architect, Ian Duncan, all with an emphasis on light, space and luxury. “Aberdeen has strong inward migration feeding demand for quality homes and an enviable golf pedigree,” explains Harry Fordyce of local agents Miller Stewart. “For the UK and wider Europe, value for money is increasingly a factor, with property buyers and end-users more likely to be receptive to investments opportunities that package a quality course with less expensive golf. Maverston Estate is capitalising on this dynamic. No doubt others will follow suit.”
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GOLF COMPETITION
Tee Time with
THE HIDEAWAYS CLUB Win a fabulous seven-night luxury golf holiday with The Hideaways Club THE PRIZE Seven nights in a luxury villa of your choice, which sleeps 10-12. Choose from 18 destinations with fairway finesse from far-flung idylls, such as Thailand, South Africa, Mauritius and Morocco to some of the finest golf getaways closer to home including perennial favourites The Algarve and France. Whether you’re planning a club tour or just want to slot in a few rounds on your family break, we have the perfect golf holiday luxury villa for you. Each of our handpicked properties comes with access to the services of a Personal Concierge to arrange everything from hiring clubs and booking tee times to making restaurant reservations and arranging in-house cocktails and dinner to welcome you back home each evening – leaving you with the freedom to focus on your game.
THE HIDEAWAYS CLUB The Hideaways Club is an award-winning Property Fund and Members’ Club. When you join, you’ll benefit from exclusive access to a diverse portfolio of luxury villas, chalets and apartments from Barcelona to Bali and Mauritius to Miami. As an equity shareholder you’ll be able to spend quality time with friends and family in your exquisite portfolio of homes without any of the management hassles of direct proprietorship. Sit back while your dedicated Personal Concierge takes care of all the details – so all that is left for you to do is choose where to go and when.
HOW TO ENTER To enter, send your name and address by email to competition@abode2.com with the subject heading: Hideaways Club Golf Trip. Closing date for entries is Wednesday 30th September 2015.
Terms and Conditions Competition is subject to the following T&Cs: 1. The prize days are subject to availability. 2. Bookings can be made a maximum of 3 months in advance. 3. The prize is applicable to Mid/Shoulder/Low weeks only. 4. The prize is valid for 12 months from the date issued. 5. Any additional Concierge Services are the responsibility of the prize winner and will be charged as taken. 6. Flights and transfers are not included. 7. Prize cannot be exchanged for cash or kind and nights must be used consecutively. 8. Prize winners will be treated as Hideaways Members and will receive full Personal and Local Concierge services.
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Abode2
HIGHLY COMMENDED GOLF RESORTS – 2015
No other game combines the wonder of nature with the discipline of sport in such carefully planned ways. A great golf course both frees and challenges a golfer’s mind. Tom Watson T h e re s o r t c o u r s e s s e l e c t e d i n t h i s G o l f S p e c i a l E d i t i o n a re n o t t h e t y p e y o u w o u l d “ w a n t t o g e t o v e r q u i c k l y ” . T h e s e a re c o u r s e s t o b e re l i s h e d , t o b e m e m o r i s e d ; t o b e s a v o u re d a s o n c e - i n - a - l i f e t i m e e x p e r i e n c e s . S h o r t - l i s t e d b y A b o d e 2 re a d e r s , s u b s c r i b e r s , i n v e s t o r s a n d o w n e r s ; t o p h o u s e m a r k s g o t o t h o s e w i t h s h i n e - t h ro u g h m e r i t s e m b r a c i n g d e s i g n , c o n d i t i o n i n g , h i s t o r y, m e m o r a b i l i t y a n d re p u t a t i o n . We h o p e y o u e n j o y.
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HIGHLY COMMENDED GOLF
THE BAHAMAS
at its best For an amazing golf holiday - or a lifetime of them the Bahamian charm of The Abaco Club reigns supreme. Adrian Denver reports
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olf in the tropics is often billed as a less than exhilarating experience and unfairly so. Holidaymakers from across the globe dream of combining a little exotic fairway action with a relaxing vacation amongst the picture-postcard palms. But all too often, Caribbean course layouts can be characteristically flat and featureless in design. Many are also affiliated with big, amorphous resorts that care more about high occupancy rates than providing a first-class guest experience. The Abaco Club by contrast, offers an altogether different break from the norm proposition. That’s because, strictly speaking, The Club isn’t a resort, rather an international, private sporting club. There are no towering beachfront condos, no ‘foodathon’ buffets. Instead, the Club offers a bespoke luxury experience to those seeking to escape the stresses of everyday life and kick back in a setting of unrivalled comfort and beauty. 68 Abode2 // Volume 2 Issue 9
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For those inspired to make The Abaco Club their homefrom-home, residences for sale range from cosy cabanas and charming cottages to stately villas and grand oceanfront estates. Each property is within steps of the beach, and meticulously appointed with all luxury home-from-home essentials. Wake to the sound of crashing waves, stroll to the golf course or spa, or just relax on your private patio and look out over the sparkling, turquoise sea while the Abaco parrots chirp their warm welcome. It’s an atmosphere of quiet sophistication, where you, your family and your friends can enjoy total relaxation when you want it - and a wealth of wonderful leisure activities when the mood takes you. “The Abaco Club is truly a world unto itself,” says Kristi Hull, the Club’s real estate sales director. “It’s an enclave that offers the perfect antidote to modern-day life. People become members and buy homes here because they fall in love with the location and want to establish a permanent connection to the place. They want to be able to return year after year to enjoy the beauty and tranquility of the community with family and friends. And they make new friends here, too - from all over the world. It’s a unique place, and one that sells itself at a glance.” Frequent hopper flights depart daily for Abaco’s Marsh Harbour International Airport from international hubs Nassau, Miami, West Palm Beach and Fort Lauderdale, making The Abaco Club an easy destination to reach. Chances are, though, you won’t find it an easy place to leave. www.theabacoclub.com
What makes The Club a world-class property? Its one-of-akind setting certainly helps. Located on the most charming of the Bahamas’ Outer Islands - Great Abaco – the development is graced by a 2.5-mile stretch of powder-soft beach. The golf course is far from predictable. Perennially ranked as the number-one course in The Bahamas, the Scottish-style links course offers plenty of demanding elevation changes, which is unusual for an island layout. Many of the holes also sport stunning coastal views, making the task of fine-tuning your game an exercise in concentration. As you’d expect, the Club also boasts an array of water sports amenities — from kayaking, sailing and snorkeling to bone fishing and deep-sea fishing. Some of the best trophy-fish waters in the world can be found within minutes of the Club’s shoreline. Guests can also spend time on the tennis courts or at the fitness centre or unwind with a signature beauty treatment at the club’s luxurious spa. Cap it off with lunch al fresco at Buster’s Beach Bar, or sample the exquisite local cuisine offered daily at The Cliff House restaurant, and you have the makings of the perfect golf-to-pamper day. Volume 2 Issue 9// Abode2 69
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HIGHLY COMMENDED GOLF
Highland Fling I
Focusing 100% on the pleasure principle, Gleneagles, Scotland’s most celebrated hotel offers a prestige second home twist to its golfing prowess with seasonal ownership at Glenmor. By Laura Henderson
t would all have been very different if Donald Matheson and his family had gone somewhere more exotic for their summer holiday in 1910. But all the general manager of the Caledonian Railway Company wanted was the peace and quiet of Strathearn, at the southern edge of the Highlands in rural Perthshire, so that was where they went. And where his golfing dream was born. At the age of the great railway hotel, Matheson saw the huge golf potential of the land. His railway, the main line to Aberdeen, ran along its southern edge and the wealthy public’s appetite for golf resorts had already been established by the creation of hotels like Turnberry, which had been built four years earlier. Matheson believed he could do the same at Gleneagles. Within two years he had fleshed out his vision. There would be three courses - a championship 18-hole, an easier nine-hole and a nine-hole for beginners overlooked by a palatial hotel that would be the epitome of luxury. In keeping with his plans, Donald Matheson looked for the best in the creation of the first two golf courses. He engaged James Braid, one of the golfing greats, to design and create the King’s and Queen’s Courses in the grounds of the hotel. The result is an idyllic golfing landscape where many of the fairways and greens, particularly on the King’s are isolated from neighbouring holes by the gravel ridges, so giving golfers the luxury of feeling they are playing on their own private course. The turf on these older courses is firm
and springy and, therefore, never tiring to play on. Both have stood the test of time, and remain a challenge for both professionals and newer player recruits. With a par of 73, Gleneagles third course - the PGA Centenary Course is a perennial favourite. A Championship course to rival the best, it started out as the Monarch’s Course, before a redesign by legendary golfer and course architect, Jack Nicklaus, back in 1993. It was renovated further in 2011, in anticipation of the Ryder Cup coming to Gleneagles, ensuring a spectacular fairway setting for years to come. Today, the course is one to challenge the best and thrill anyone who plays on it – truly a course for the players.
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“The PGA Centenary Course is the finest parcel of land in the world I have ever been given to work with.” Legendary golfer and course architect Jack Nicklaus
A standout feature is the feast of views of the spectacular countryside in which Gleneagles is set. Putting on the twotier second green, you are distracted by the lush panorama of the rich Perthshire straths. As you move westwards over the next few holes, the rugged Grampians come into view on the right, then distantly purple ahead, Ben Vorlich and the mountains above the Trossachs. Beyond the pristine fairways, Gleneagles continues to shine as a beacon of golf excellence. A member of Great Golf Resorts of the World – 2014 saw the accolade of “Best Golf Resort in the World” from UltraTravel for the third year running. The Golf Academy at Gleneagles has been leading the revolution in coaching the game since 1994, and in 2010 became Scotland’s PGA National Golf Academy. Today it provides coaching and skills training for all levels, providing a focal point for both today and tomorrow’s golfers. With lessons, demo days and residential training schools, there is huge scope to learn whatever your level.
Hotel Highlights Standing serenely at the top of an imposing tree-lined driveway amidst perfectly manicured lawns, neatly trimmed hedges and blooming flower beds, Gleneagles’ hotel exudes a certain eminence from a bygone era when the rich and famous visited with the sole purpose of enjoying themselves. And even though times have changed and fashions have moved on, that same single-minded determination to have fun is still at the heart of the Gleneagles experience. Not surprisingly, with such a fine rural setting, shooting and fishing on the 850-acre estate are popular pastimes, with the added attractions of horse riding, archery, gundog handling, off-road driving, croquet, tennis and wildlife photography there to enjoy. Aficionados of fine dining are equally well catered for. Dining is an essential part of the Gleneagles experience. Inspired by the pick of field, wood, river and sea, menus are bursting with flavour and imagination. From the grand formality of The Strathearn to the bustling vibe
of Deseo, from the Michelin magnificence of Andrew Fairlie to the clubby ambience of The Dormy Bar & Grill, there is a restaurant to suit all tastes and occasions. This grand Strathearn dining room has been at the heart of Gleneagles hospitality since 1924. In the morning, it’s home to the legendary Gleneagles breakfast, by night it’s a truly sumptuous fine dining experience.
A HOME-FROM-HOME SEASONAL OWNERSHIP AT GLENEAGLES A development of 53 ‘Scottish village’ style holiday homes located within the grounds of the 850-acre estate; for a one-off fee plus annual service charge, individuals can purchase one or multiple annual weeks or a short break tenure in a two, three or four-bedroom home in Glenmor until 2058. Award-winning interior designer Amanda Rosa has micro-managed home-style comforts with everything from mood lighting in the bathrooms to under-floor heating and chaises longues by the fire. Owners and guests have unlimited access to Gleneagles leisure facilities including shooting, riding and fishing as well as the Golf Academy and championship courses. Activities catering to younger guests include junior falconry and off-road driving in custom-designed mini land rovers. Prices range from £10,110 for one week per annum for a two bedroomed home in Winter Break season up to £67,400 for a four-bed over Hogmany. Service charges in the region of £1,300 a year cover housekeeping, maintenance and future refurbishment. Short-break tenures of three days are also available starting from £5,560. Owners can also rent out their week privately or join the Glenmor managed rental pool. www.gleneagles.com/glenmor
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HIGHLY COMMENDED GOLF
BAJAN Bounty W
A combination of golf, sun and a premium lifestyle at Barbados’ much-loved Royal Westmoreland is a secondhome offering that’s hard to beat, says Graham Peterson
hether you are a social golfer or like to take it to the next level and stretch yourself in handicap competitions, Royal Westmoreland caters for all levels of playing ability in an established and thriving community. Spanning 750 lush acres in the high-style parish of St James on Barbados’ west coast, this beautiful estate home to a 72-par, 18-hole Championship golf course, top notch driving range and practice greens, is consistently rated as one of the best courses in the Caribbean and it’s not difficult to see why. Designed by Robert Trent Jones Jr and spread across 7,045 yards of landscaped grounds, the course boasts its share of challenging Par 3, 4 and 5 holes located around gullies and water features that will inspire you to limber up ahead of your game. For those looking to improve their technique, a lesson with the resort’s Director of Golf, Roger Beale will up the power in your swing. Not only has Roger represented Barbados in the 2006 World Cup of Golf, he was also a 2011 Canadian club pro champion and team coach for the Barbados national golf team in 2012. Once your confidence levels have progressed to a little fairway action, your efforts will be well rewarded with immaculate greens and breath-taking views across the estate to the ocean, keynote reasons why the course has become such a
prestigious venue for sporting events including The Barbados Open and the Sir Gary Sobers Festival of Golf. The 19th hole, also known as the Clubhouse, is equally generous with its vistas, offering spectacular views down the fairways but with the added attraction of a stylish watering hole where players can sample mouth-watering cuisine; be it for breakfast, lunch or dinner. It’s the perfect place to catch up with fellow golfers for a refreshing sundowner and a friendly discussion on the day’s tees and greens action.
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Holiday Rentals Royal Westmoreland boasts a diverse portfolio of property options for rental, ranging from luxury detached villas and spacious townhouses through turnkey apartments with availability throughout the year. The Family Package (£2,115 per week) • Accommodation in a luxury 3-bedroom villa (sleeps six guests) • Complimentary rounds of golf • 25% discount on spa • 20% off all food and beverage on resort
of self-catering while a daily housekeeper takes care of all your cleaning and laundry needs. The resort’s Elemis Spa offers a variety of treatments including specialist sports massages with a well-equipped gym for those keen to maintain their fitness regime. Both are located close to Mullins Beach, a five minute drive away in the RW complimentary shuttle bus. Residents of Royal Westmoreland also benefit from access to a private beach area and bell captain service at Mullins Beach, one of the finest stretches of coastline on the island; the perfect spot to watch the sun go down on another perfect day in paradise.
The Golfers Package (£2,961 per week) • Accommodation in a luxury 3-bedroom villa • Complimentary daily golf. Alternatively, the Royal Apartments, sleeping up to six guests, are available from £1,350 per week including complimentary golf. Home Ownership Entry-level prices for a two-bed residence at The Royal Apartments start from US$395,000, with semi-detached three and four-bedroom villas, from US$1.45million. For those considering a bespoke-design build - a limited number of custom villas are also available on elevated plots, a prime example of which is Hideaway Villa, a stunning 4-bedroom, 4-bathroom detached property overlooking the 14th fairway with panoramic sea views and priced at US$3,150,000. Royal Westmoreland has also introduced fractional ownership, enabling buyers to savour a slice of the Bajan lifestyle from US$53,600; an investment which buys two weeks use per year of a four-bedroom Royal Palm Villa. The villa comes with a large private swimming pool, flourishing garden landscaping, sweeping terraces, and contemporary furnishings throughout. Also included is the luxury service standard enjoyed by rental guests with daily housekeeping, seven days a week concierge service, and the added benefits that come with Club Membership. Time to Relax They say that a relaxed golfer is a good golfer. Royal Westmoreland has kept this in mind for every aspect of your stay. In your home, a personal chef can magic away the hassle
FAST FACTS ROYAL WESTMORELAND • Ownership enquiries: call +44 (0)1524 889341 (ownership) or email property@royal-westmoreland.com • Rental enquiries: call +44 (0)1524 888005 (rentals) or email holidays@royal-westmoreland.com • www.royalwestmoreland.com Twitter: @RoyalWM Facebook: Royal Westmoreland
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HIGHLY COMMENDED GOLF
To The Manor Born One of the UK’s most iconic country houses, Stoke Park offers stay-and-play guests a true taste of English golf heritage. By Stevie King
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toke Park has a certain gravitas that few stately mansions can match. Basking in 300 acres of historic parkland and formal gardens in leafy Buckinghamshire, just a 35 minute drive from London, this imposing Palladian mansion designed by architect to the Crown James Wyatt, is the archetypal English country house retreat. But more than anything, its blue blood history makes it one of the finest examples of a quintessentially British golf and country club. First-time visitors to the estate might recognise the magnificent course from one of the most famous golf duels in cinema history between Sean Connery’s James Bond and Auric Goldfinger. Stoke Park was the setting for the fictional Royal St Marks’s (itself a thinly veiled version of Ian Fleming’s own club, Royal St George’s), where Goldfinger’s trick ball would not have impressed the committee. The 27-hole Championship course designed in 1908 by eminent golf architect Harry Shapland Colt is an elegant affair; three loops meander through immaculate parkland and lakes, offering glimpses of the magnificent mansion; cameo views that are not surprising when one learns that Colt designed the course to work with the existing landscape, designed by Humphry Repton and Lancelot ‘Capability’ Brown in the 18th century. Unlike other parkland courses however, Stoke’s 74 Abode2 // Volume 2 Issue 9
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championship layout doesn’t use heather as a defence but rather a variety of mature trees and fir oaks to catch stray golf balls. The course also prides itself on natural undulating terrain, swift greens, and natural hazards to provide any level of golfer with a true examination of their ability. The main 18 holes measure 6,355 yards off the yellows, with holes 19 to 27 calculating 2,864 yards. The course has influenced many of the world’s most famous greens. The 7th hole is officially acknowledged as Augusta National 16th’s inspiration. Indeed the course has also received many accolades over the years, including ‘The Ultimate Members Club 2015’ at the 59 Club Awards, ‘Golf Club of the Year’ and ‘Top 100 Courses you must play in the World’ by Golf World as well as a Gold placing in the HSBC Regional Course Rankings. It is a testament to Colt’s genius that his designs are admired by golfers at every level of the game. They still provide a genuine test and stand up to the challenges brought on by today’s modern equipment. Colt has without doubt left his legacy at Stoke Park. Practice facilities are equally up to par - including a putting green, driving range, short game area and state-of-the-art swing studio. This indoor facility offers the best teaching and club fitting technology, allowing for a truly interactive golf lesson where swings can be viewed immediately on the plasma screens enhanced by the latest V1 software. Pupils can hit out onto the driving range or in severe conditions or low light into a net. Gone are the days of cancelling a golf lesson due to poor weather. Whether you choose to spend the day striding the fairways, rowing a boat around the beautiful lake (featured in the hit film adaptation of Bridget Jones’ Diary) or simply soaking in the ambience of the extensive grounds, this countryside escape caters to all tastes and persuasions. Home to a 5 AA Red Star hotel and Country Club and boasting a host of additional leisure and pleasure amenities, the beautiful Grade 1 mansion sports 21 luxury bedrooms and suites with a further 28 in the neighbouring Pavilion, three restaurants, a state-of-the art gymnasium, beauty spa, indoor pool and steam rooms, together with 13 tennis courts including 6 grass courts.
Mansion rooms exude a certain period feel with their open fires, marble bathrooms and priceless arts and antiques. Wonderfully spacious and generously proportioned, accommodation options are nevertheless still intimate enough to feel like home. If food is your passion, you will be in seventh heaven, with a choice of decadent à la carte dining at Humphreys Restaurant under Head Chef Chris Wheeler, hearty Italian fare in brasserie-style surrounds at San Marco, with the lavish, lemon-hued Orangery serving a Home Counties’ staple – afternoon tea.
STOKE PARK FAST FACTS •
For more information visit: www.stokepark.com
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Reservations: +44 (0) 1753 71 71 72 or email reservations@stokepark.com
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Membership enquiries: +44 (0) 1753 71 71 79 or email membership@stokepark.com
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DESTINATION GOLF
Bright, Young
THINGS
The 2015 season has already been full of drama with stellar wins for Rory McIlroy and Jordan Spieth. So what does the rest of the year have in store for the young contenders? Abode2 joins in the Matchplay action to find out
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ordan Spieth’s stunning triumph in Augusta this April was hailed as a seminal moment in golf – one that America was looking for. The demise of 14-time major champion Tiger Woods as the major driving force of the game – with a myriad of health issues, most recently a lower back injury – has forced the American golf industry to look for a worthy successor. Given Spieth’s meteoric rise in the last couple of years – he has climbed up to world No 2 after starting in 2013 as 809th – and his wholesome image, the young player has been earmarked for that role for some time. The biggest indicator of his popularity and marketability came, when Under Armour, the sport equipment and apparel company that is emerging as the biggest threat to Nike’s supremacy in the US, decided to upgrade Spieth’s contract for 76 Abode2 // Volume 2 Issue 9
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the next two years and sign a new 10-year head-to-toe megadeal with him. The 21-year-old, now in his third season, had already amassed more than $10 million for his career, pre-Augusta, and picked up his second PGA Tour title (fourth worldwide). Spieth is unquestionably a role model for the next player generation – part of an elite group challenging McIlroy. All grew up watching Tiger Woods outclass his competition. They were, in effect, tutored by Tiger. They are hungry. And they are not intimidated by anything or anyone. US prodigy Patrick Reed billed as a ‘win-at-all-costs’ competitor, has so far emulated Woods’ sartorial style, complete with black trousers and signature red polo shirt. 25-yearold Reed notably showed the kind of fight that would have impressed his golfing hero in the playoff at Innisbrook in March when he twice turned impossible shots into pars until Spieth beat him with a 30-foot birdie. For Reed – Woods is unquestionably a trigger influence: “When I was growing up he was so much better than anyone else. I tried to copy his mental strength. You could see it just by looking at him. He was so focused and determined to play well. And that’s what I’m trying to do.” Matt Every, who picked up his first PGA Tour win last year in the Arnold Palmer Invitational, is in his fifth year on tour and already has noticed how much harder it is to win because of so many possibilities every week. “When I first got out here, about 20% of guys were in shape. Now it’s 80%. You hardly ever see a young looking sloppy.” For golf aficionados and pundits alike - it’s a default position to say that the game needs a dominant player because it has had one for some 15 years. Even when Hall of Fame inductee Nick Price went on his great run in 1994, he shared the stage with Nick Faldo and Greg Norman. Ernie Els and Phil Mickelson were the rising stars. Woods didn’t have a rival. He had rivals, a revolving door of them for a decade, from Els to David Duval, from Mickelson to Vijay Singh. So just how well is McIlroy measuring up against his peer generation? Although the 25-year-old still has a long way to go before surpassing Woods’ record of 683 total weeks as world No 1, McIlroy is undoubtedly in the running as golf ’s next longhaul heavy-weight star - both on and off the greens. And it’s not because of the world rankings, but because he won the British Open and PGA Championship in a span of four weeks. By doing so he joins Nicklaus, Woods and Bobby Jones as the only players in the last century to win four majors by age 25. These things don’t happen by accident. For now however, perhaps the one common driver he shares with Spieth is pursuing more majors. With golf deeper in record setting conquests than it’s ever been, only time will tell who will claim the fairway crown.
GOLF RANKING FAST FACTS •
In the old days, one only had to look at the PGA Tour money list to discern who the best golfer in the world was. That was back in the 1970s, when Jack and Gary and Tom were dominating the sport. Then golf became a truly international game. Seve Ballesteros, Greg Norman, Bernhard Langer and Nick Faldo among others, made it impossible to ignore the need for a worldwide ranking system. By 1986, the World Golf Rankings were born.
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So just how are rankings calculated? Positions are appointed by dividing players’ points totals by the number of events they have played, which calculates their average. Players are then ranked; a higher average yields a higher rank. Currently, a ranking in the world top 50 grants automatic entry to all the Majors and World Golf Championships.
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The first stage in the calculation is the ranking of each event. For most events the ranking depends on the current world rankings of the participating golfers and the participation of the leading golfers from the “home tour”.
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Points are accumulated over a two year “rolling” period. Strength of the field is a factor, and different events have minimum points levels. World Golf Championships and Major Championships are weighed differently. And it’s not just the PGA Tour and the European Tour tournaments. Other eligible tours to name but a few include: PGA Tour, PGA European Tour and Japan Golf Tour.
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GOLF · BEACH · SPA · TROPICAL ESCAPES · CLUB MEMBERSHIPS · ISLAND HOMES
THE PERFECT ANTIDOTE FOR MODERN-DAY LIFE. The Abaco Club isn’t a resort. It’s a private sporting club in The Bahamas. But you are welcome to visit as a guest and enjoy our luxurious island accommodations, Scottish-style links golf course, powder-soft beach, spa, deep-sea fishing, and more. The Abaco Club has everything you need to leave the world behind.
To book your visit, or for more information on Abaco Club memberships or real estate opportunities, contact our Club Concierge at 242-367-0077, or email info@TheAbacoClub.com. www.TheAbacoClub.com
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This is for information only and not an offer to sell property to, or a solicitation of offers from, residents of any area that requires prior registration of real estate. Real estate and homes at The Abaco Club may only be purchased in The Bahamas. Obtain the property report or its equivalent and read it before signing anything.
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Costa Calida - Costa Blanca - Costa Almeria LUXURY GOLF & BEACH RESORT PROPERTY
www.sispain.co.uk
Stunning properties, luxury resorts and golf the weather won't spoil!
With an average of 315 sunny days each year, more than 20 luxury golf resorts and flight times of just a few hours from the UK, this beautiful corner of South East Spain is the perfect location for your new luxury golf property that can be used all year round. Culturally rich & historic cities, family friendly beach resorts, modern shopping centres and beautiful natural parks also make this a truly diverse and exciting destination for the whole family.
Si Spain is a leading property consultancy specialising in luxury golf and beach resort property. Our free, comprehensive service is designed to save you time, effort and money during your property search and our consultative approach means you always receive accurate, impartial advice. With an unrivalled selection of stunning properties from £50,000 to £3,000,000 and access to the best legal, financial & property management professionals, Si Spain can help you find, buy and set up you new home in the sun with complete confidence.
LUXURY GOLF & BEACH RESORT PROPERTY
To find out more about Si Spain & the region or to view details of properties for sale you can visit our website at www.sispain.co.uk. To discuss your requirements and to start your property search call us free on 0800 772 3453
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DESTINATION GOLF
TEE TIME Just like the game itself, there is more to buying golf course real estate than meets the eye. Anthony Purdew of the Golf Consultants Association offers some useful pointers
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he latest findings from HSBC by the Futures Company Golf reveal that golf resort development continues to provide the backbone of high profile tourism investment in many parts of world. Statistics gathered from over 40 countries, identify Florida, Scotland, Spain and Portugal as the fairway front runners with relative ‘new comer’ Latin America climbing the popularity charts. Golf tourism is also showing healthy
signs of growth in Asia and the Middle East, which currently boasts the world’s most profitable resort courses with new residential golf projects being developed as part of national tourism strategies in countries as far apart as Vietnam, Abu Dhabi and Cuba. All this fairway activity is welcome news. But with such a proliferation in choice, what factors should potential buyers take into account when shortlisting tee and green investments options?
BUY WISE •
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Don’t buy too near the fairway. You want views, but not if it means being woken up by a dawn chorus of lawnmowers. Take note of the width of the greens and the distance of the houses from the tee boxes. Play the course to see where the balls land and golfers congregate. Play a resort course several times – it has to be sufficiently challenging to hold your interest in the years to come. Find out if there are plans to change the course layout or expand facilities and check if owners get reciprocal privileges at neighbouring courses. Get to know fellow residents before signing on the dotted line. If you don’t click with your neighbours, you may find your holiday social life distinctly under par. Make sure there are sufficient leisure attractions to keep non-golfing family members occupied. Fee structures vary from resort to resort, so check the small print. Common extras include community and service charges, club membership fees, social fees and joining fees. Some resorts throw in golf membership for a fixed period, others, it’s a pay-as-you-go set-up.
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Examine the stay-play ratio - how much does it cost for a round of golf at the course you are thinking about buying on? How much is the house you are looking at buying? There should be a logical ratio between the two. For example, if it is a daily fee course and a round of golf is going for £25 in the winter and the house is selling for over £200,000, the property value is probably inflated. If the course is private, check on the initiation and monthly fees for the course versus the price of the home. Rental income is a great way to offset the costs of a second home, but be realistic about how many months of the year you can feasibly do this for. If you’re planning to rent your home during peak season, you’ll have to consider alternate ‘shoulder periods’ for your own use. Deed restrictions are notoriously strict in golf communities, so make sure you fully understand the rules – these will likely cover everything from your property’s hedge height to barbecue curfew times. The same applies to golf course protocol. Is it open year-round? Do guests have to pay to use? Rules are there to help maintain the value of your property, but you need to be able to live with them.
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Bunkering Down Located in the stunning Kintyre Peninsula – Machrihanish Dunes offers second-home ownership at one of Scotland’s most historic links locations. By James Matthews
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n the unique coastal corner of the Mull of Kintyre, a rare feat has been achieved - a genuine championship links course and one that has gone back to the history books to create a course in keeping with the way golf began. While there are some 32,000 golf courses worldwide, only 270 of those can truly be classed as links. However, the ruggedly handsome Machrihanish Dunes which opened in 2009, can be added to this elite collection. Now under the meticulous management of Massachusettsbased Southworth Developments, the village has undergone a £20million top-to-toe refurb; an ambitious makeover that has delivered two lovingly restored historic hotels, a limited edition collection of luxury cottages, a rejuvenating full-service spa, together with five restaurants and pubs including The Old Clubhouse Pub and Restaurant. While the pristine 18-hole championship-standard links golf course provides a golfing experience par excellence - lodging options are equally top notch. Tastefully appointed; cottages sport two bedrooms, two bathrooms, spacious kitchens and lounges with spectacular views of the surrounding rugged Argyll landscape and Atlantic Ocean. A limited number of units are now available for sale on a fractional ownership basis. Shareholders also receive the rights to play golf at Machrihanish Dunes free of charge. Owners of fractions and their guests are entitled to preferred tee times at Machrihanish Golf Club as well as discounted green fees. And despite the beauty, luxury and comfort of village life, that perk, at least for die-hard golfers, may be the single most valuable benefit of ownership. “Unlike timeshare, freehold shared ownership provides a valid, heritable title that’s registered in the Land Register of Scotland,” explains David DeSmith, Marketing Director of Southworth Development. “The title to cottage ownership fraction is freehold, which means it can be sold, or bequeathed to an heir. Purchasers of single weeks also benefit from membership of the RCI vacation exchange network offering access to more than 4,000 resorts worldwide.”
From the resort, guests are also only within an hour’s flight, drive or boat ride from several world renowned links courses, including Turnberry, Troon, and Prestwick in Ayrshire, and Royal Portrush, Royal County Down and Port Stewart in Northern Ireland. Ownership is offered in two forms: Floating Single-Week Seasonal Ownership entitles owners to one week in a selected season (high, mid or low), subject to reservation, which is handled on a first-reserved basis based on the number of weeks owned. Pricing varies according to season, starting at less than £10,000. Four-Week Fixed Ownership entitles owners to four weeks (one specified week in each season). Pricing varies depending on the size and location of the cottage chosen and the particular weeks selected. Owners, together with invited family and friends, have full use of their cottage for their purchased week or weeks. They can also opt to rent out their allocated week(s) privately – or direct the resort’s management company to do so on their behalf, providing the opportunity to generate a rental income. For more information, visit www.machrihanishdunes.com. To enquire about our Discovery Package, created just for guests with an interest in Cottage Ownership, call Freephone in the UK: 0800 151 3701. Outside the UK call: +44 (0) 1586 810 015.
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GOLF COMPETITION
Fairway to
Heaven 2
005 was a seminal year for golf in Thailand thanks to the vision and zeal of Swedish entrepreneur Stig Notlöv. When he found what he considered the perfect site for a championship golf course in rough terrain 10 kilometres west of Hua Hin, he set about realising his dream. After only 14 months of construction, his fairway fantasy came to fruition to widespread acclaim, both locally and throughout Thailand. Numerous awards followed, and just five years after the first rounds were played in 2007, Black Mountain became the first course in Thailand to be included in US Golf Digest’s list of the Best 100 Courses outside the United States. Today, the course is everything you would expect of a worldclass golf resort. Hosting the Royal Trophy in 2011 and the Kings Cup in 2014, the club has also become the ‘arena’ for pro golf in Thailand with some of the best players now established residents. Many come to take advantage of the dry and steady weather conditions in Hua Hin and use Black Mountain as the base for their practise during the winter months. With sweeping vistas from almost every hole, a challenging yet highly enjoyable design and tour-standard conditioning, the par-3 course may be the best you will ever play. Set in a natural valley, there is water on every hole – requiring precise shot making and concentration, just as you need on a full-length course. Location wise, Black Mountain also offers an unparalleled living experience with a choice of large and luxurious fairway villas, expansive condominiums and two and three-bedroom pool villas available for purchase. Buyers can also become a member of the Black Mountain community by investing in land adjacent to the par-3 course or along the 9th hole of the
When Black Mountain’s founder, Stig Notlöv, first visited Hua Hin in 2004, he quickly recognised the region’s golf potential and set about creating one of the best golf courses in Asia
championship course and building a villa to their own design and specifications. Located just 10 kilometres from Hua Hin, the resort is also close enough for guests and residents to sample the sights and sounds of this bustling, cosmopolitan city blessed with some of the region’s finest beaches.
WIN WITH ABODE2 Abode2 are delighted to offer two lucky readers the opportunity to savour the full Black Mountain experience with a fabulous competition prize comprising a week’s luxury villa accommodation for two with green fees.** To enter – simply select your answer from the following multiple choice options and send it together with your name, address and contact details to competition@abode2. com. Closing date for entries is Tuesday, September 1st 2015. In what year was the first round of golf played at Black Mountain? A. 2002 B. 2004 C. 2007 ** Terms and Conditions - holiday accommodation can be booked between the period July 2015 to July 2016 (excluding Dec 15th 2015 – February 30th 2016). Please note flights are not included in the package prize.
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Abode2
LUXURY LIFESTYLE IN THAILAND
COURSE SIDE LIVING AT THE BEST CHAMPIONSHIP GOLF COURSE IN ASIA PACIFIC VISIT BMGHUAHIN.COM, EMAIL SALES@BMGHUAHIN.COM OR PHONE +66 (0) 81 763 2200
“Best Championship Course in Asia Pacific” Asian Golf Monthly 2014
“Top 100 courses outside U.S.” Golf Digest 2012
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DESTINATION GOLF
The Par-fect Club for golfing holidays The Hideaways Club allows members to invest and holiday in a portfolio of exquisite homes worldwide, many near some of the world’s best golf courses. Italian golfer Francesco Molinari reveals his favourite Hideaways havens to Annabel Hillary
K
een golfers, who enjoy combining their passion for the game with a love of travel, may be reluctant to buy a second home which might limit the potential to try new and varied greens. However, with 42 luxury homes in its Classic Collection and access to a further 200 luxury villas through reciprocal agreements with other destination clubs, The Hideaways Club provides an ideal solution. Members invest in a portfolio of properties and their membership of the Club entitles them to holiday in the homes owned by the funds, without the hassle of property maintenance. Many of these homes are close to fantastic golf courses in popular destinations including the Algarve, France and Spain, as well as further afield in Morocco, Bali, Mauritius, South Africa and Thailand. The properties are perfect for golfing groups, typically accommodating 8-10 guests, while the concierge service can organise golf tuition, golf club hire and book tee off times. They can also make restaurant bookings, or even arrange a private chef. Luxury is assured, as all properties are worth an average of more than £1.2million and are beautifully appointed. One of the club’s most popular golfing villas, Quinta Algarvia, sleeps 10 and is located 20 minutes from Faro
Airport. It is ideally placed for Quinta do Lago’s South Course, a Top 100 Course and for three other championship courses within the Quinta do Lago estate, with a further 12 nearby. Built in traditional Portuguese rustic style, with cool contemporary furnishings, its outdoor terrace and barbecue area, swimming pool, steam room and gym, are perfect for post-golf relaxation.
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In contrast, Marrakech is an exciting up and coming golf destination where The Hideaways Club members can live like a king in Moorish palace Dar Hasnaa. This rose pink villa, 30 minutes from Marrakech airport, has a rich, sumptuous interior and sleeps eight. It has stunning views of the Atlas mountains, a swimming pool and tennis court. Golfers can enjoy various golf courses, including Al Maaden, the Palmeraie Golf Club and the Royal Golf de Marrakech. The Hideaways Club CEO, Poonam Dhawan-Leach, says, ‘Our golf orientated properties are hugely popular. Many of our members take groups of friends or business associates for a dedicated golfing break, while others appreciate the family friendly nature of our properties, with nearby courses an extra bonus.’
THE HIDEAWAYS CLUB ESSENTIALS •
The Hideaways Club Classic Collection owns 42 properties, of which 29 are great for golf.
•
Entry level Lifestyle Associate membership of the Classic Collection starts at £88,000.
•
Visit www.thehideawaysclub.com for more info.
FRANCESCO MOLINARI’S HOLIDAY HIDEAWAYS Why did you become a member of The Hideaways Club? My wife and I were thinking of buying a property for family holidays, but The Hideaways Club seemed the perfect answer with its choice of destinations and with maintenance taken care of. What is your experience of The Hideaways Club? I became a member three years ago and have stayed in homes in Portugal and Morocco. Each holiday has been a great experience as everything is so easy; the houses are well equipped, with a selection of DVDs for adults and kids. The concierge service ordered our groceries, organised sightseeing tours, recommended and booked restaurants and organised babysitting. For golfers, the concierge service can recommend the best courses and can organise tee-times, which is a real bonus. How do you fit holidays into your busy schedule? I am really busy so it’s not easy to fit in holidays, but I can be more flexible perhaps than someone whose career is office based,
so I can choose to go away at the last minute. The Hideaways Club’s new website is great for checking availability and booking direct. Do you play golf during your Hideaways Club stays? Sometimes my holidays are about pure relaxation, but at other times, especially mid season, I bring my clubs and practise maybe twice a week to keep up my training. The club has a fantastic choice of homes for golf and I recommend Villa Infinity in the Algarve in particular, as it is great for kids, has lots of courses nearby and it is still warm in the autumn. Which Hideaways Club home is your favourite and which would you like to visit next? We love Dar Hasnaa in Marrakech, where we went with a group of friends. There is a lot to keep you occupied, with the villa’s swimming pool and tennis court and the city’s old town is really impressive. Now my son is four, we would like to travel further afield, maybe to Asia or South Africa. Volume 2 Issue 9 // Abode2 89
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EXCLUSIVE SPAIN
THE GAME IN SPAIN Famous for its designer emporia and mega yachts, chic retreat Marbella is now the leading property hotspot in Spain for sales volume growth. David Almand of Cyan Interational Properties reveals the top locations for a stylish second home
W
hen it comes to old-school glamour, celebrities have always flocked to the Spanish hotspot of Marbella – and with 300 blue sky days of sunshine a year – who could blame them? This upscale getaway has it all - beaches, mountains, vintage charm, cosmopolitan atmosphere and services, not to mention scenic countryside and cityscape. From Cabopino to Guadalmina, passing through the pleasure ports of Marbella and Puerto Banús, the coastline is fine sand all the way, and the land that goes back from the beaches is a paradise of luxury housing developments, golf courses and five-star leisure amenities. Property wise – real estate market recovery is comfortably ahead of the rest of Spain, although prices are still 15 to 25% below market highs, even in the most consolidated areas, which bodes well for ‘negotiation’ purchases for the foreseeable future. 90 Abode2 // Volume 2 Issue 9
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La Zagaleta Villa
As for sales volumes - the upturn that first manifested itself in 2012, has continued to gather pace increasing year-on-year and for one simple reason – a cosmopolitan buyer pool means the region is not dependent on domestic investment, with 85% of buyers hailing from overseas, of which cash buyers are dominating the market. A strong recovery has put British buyers back at the top of the investor list, accounting for 15.8% of all property purchases by non-Spaniards, followed by buyers from France (10.1%), Russia (8.1%), Germany (7.5%), Belgium (7.3%), Sweden (5.9%) and Italy (4.7%). While new construction is gradually resuming - the bulk of properties being sold are re-sales of existing homes; a trend that is likely to continue in the medium term. The primary reason for this is that older properties remain less expensive, but it is also due to a shortage of new build homes and this will take some time to address. Indeed, the greatest demand at present is for properties that feature fully contemporary design and technical amenities, and while there are many specialists highly adept at modernising existing homes, one can expect that the weight of the market will gradually shift back to new-build properties once enough supply is available again. However, with land resources limited and Marbella increasingly keen to nurture its luxury appeal, the focus in the coming year will be on quality, not quantity. So where are the sought-after locations to buy? At the moment, Nueva Andalucia and San Pedro are proving popular, because of their close proximity to Marbella, great beaches and of course Malaga airport. Not to mention the numerous first-class golf courses on their doorstep, a major draw for many prospective buyers. Top of the range homes in Nueva Andalucia are selling for as much as €2million. Despite price drops of up to 50% for non-prime locations – inland, without sea views, land, or access to golf – beachside properties continue to command premium prices, with demand
dominated by British, Scandinavian and Russian buyers. A case in point is Estepona. Boasting stunning sea views and panoramic vistas of Gibraltar and North Africa, home luxuries, and a lively Spanish town ambience, this compact cosmopolitan town still retains the charm of whitewashed Andalusian settlements, combined with a sense of civic pride that has seen it win international acclaim for its cultural, architectural and beautification projects. Sought-after townhouse properties find themselves at the heart of it all, at a few paces from a stunning beach, the restaurants, shops, cafés and pretty squares of the old town. The nearby marina offers its own dining venues and nightlife, while the mountainous gateway to the Andalusian hinterland lies only a few kilometres inland. Yet all that Marbella and Puerto Banús have to offer is just a short drive away. In addition come the golf courses, marina, horse riding centres, natural scenery and ambience of the area. For those who love the Andalusian way of life, beachside Estepona is a very attractive option indeed.
LA ZAGALETA This beautifully-appointed, modern, south-facing villa is located in the prestigious residential community of La Zagaleta, just a few minutes’ drive from San Pedro, Puerto Banùs and Marbella. The stunning four-bedroom, four-bathroom villa boasts two expansive reception rooms, designer kitchen with breakfast area, covered dining terrace together with home cinema, gymnasium, and master bedroom suite with large terrace. The property is set in beautifully landscaped grounds complete with heated infinity pool, jacuzzi and lush gardens with far reaching views over golf course and mountains. Asking price €4.7milliom. La Zagaleta Country Club offers a high level of security and privacy, and numerous private facilities for the exclusive use of Club members and their guests. Member-owners can enjoy the 18-hole private golf course, one of the best in Spain, with spectacular views of Gibraltar and the North African coast, with a second 18-hole private golf course for further fairway pleasure. Additional on-resort facilities include a 5,000 square metre Club House, pro-shop, restaurant, swimming pool, billiard room, tennis courts and private equestrian club. Members can ride Spanish and Arab horses, with livery services available for horse-owning members.
La Zagaleta Villa
www.cyaninternationalproperties.co.uk
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internationalmarbella.com internationalmarbella.com +34 +34 951 951 31 31 99 99 14 14 Abode2 Volume2 Issue9.indb 92
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Make Make luxury luxury property property work work International Marbella is the new world of real estate where personalised International Marbella is the new world of real estate where personalised service is the key to making the customer’s property work. A bespoke service is the key to making the customer’s property work. A bespoke agency with expertise in all aspects of property, specialising in not just one agency with expertise in all aspects of property, specialising in not just one thing but ensuring that all angles are approached to optimise the wishes of thing but ensuring that all angles are approached to optimise the wishes of our clients. our clients. We excel in multi-tasking and the expertise of our multi-lingual We excel in multi-tasking and the expertise of our multi-lingual cosmopolitan team extends across borders; each having gained knowledge cosmopolitan team extends across borders; each having gained knowledge throughout the World, resulting in our ability to offer a powerful throughout the World, resulting in our ability to offer a powerful personalised professional property Network to our clientele. personalised professional property Network to our clientele. Abode2 Volume2 Issue9.indb 93
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LA ZAGALETA MARBELLA • SPAIN
LUXURY • SALES • RENTALS Buying and investing in international property demands sector expertise and local market knowledge. So how do you ensure that you are making the right purchase decision? Cyan International Properties is one of the UK’s leading independent luxury agents specialising in lifestyle and investment real estate across the globe; catering to buyers looking to make a permanent move overseas, purchase that perfect holiday home or lucrative buy-to-let interest.
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The company’s expertise has a particular focus on the luxury property market in Spain as well as magnificent properties in Italy, France and Turkey and offers a full spectrum buy-sell service from specialist property search and selection through to after sales rental and management of your home. With an expanding overseas network, specialist partners and extensive contact database, Cyan can provide everything you need to make the perfect property investment.
info@cyan-ltd.com
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+44 (0) 1628 94 70 70
cyaninternationalproperties.co.uk
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EXCLUSIVE SPAIN
Green Peace Those looking for a change from the sun-soaked beaches of the Spanish mainland should sample Majorca’s eco-friendly hinterland, says James Matthews
A
nother summer in full swing and a favourite Mediterranean playground is enjoying la vida buena, with a recovering property market leading the way. The largest of the Balearic Islands; the great and the good have long been attracted to the island’s natural beauty. In 1838, Fryderyk Chopin escaped the bitter Polish winter for Mallorca and spent time in the capital Palma and the picturesque town of Valldemossa. In the 1920s, poet and novelist Robert Graves based himself in Deia, while in 1956 Grace Kelly and Prince Rainier spent an idyllic honeymoon sailing and touring country vineyards in Pollenca. It’s this rich vein of visitors that has led to many grand residences being built dotted among the undulating hills of the island. Now, with the growth of green tourism taking hold on the island, a new facet of property life is also opening up, bringing with it a different investor profile; those happy to forsake more Majorca’s crowded coastal pleasures for a slice of rural peace and tranquillity.
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Post-recession and the island’s real estate market is widely reported to be finding its level once again with an uptick in sales transactions, as much as 40%, in popular locations in 2014 compared to 2013. “Since the economic crisis, vendors have had to adjust their pricing strategy to secure a sale and prices overall have reduced by around 15-30%,” explains property consultant Iris Gruenewald. “This compares to price reductions of between 40% and 70% on the mainland. Recent improvement in the value of the British Pound against the Euro is also rekindling interest from British buyers moving forward with increasing numbers looking inland.” The island has also made successful inroads into more mature responsible development in recent years. “Ten years ago, international buyers were few and far between inland,” says Helen Hoole-Bolton of Real Homes Mallorca, “but times have changed, since the government began quietly and systematically upgrading the island’s interior, creating several newly classified ‘eco-tourist’ communities with hotels rurales and a host of nature orientated leisure facilities. Green tourism is really catching on.” Majorca’s topographically diverse hinterland offers something for everyone; a mosaic of undulating tilled fields,
vineyards, hill-hugging olive plantations and innumerable almond groves, all within easy reach of both the coast and the island’s historic capital, Palma. “The mountain range to the northwest combines with much of the surrounding rugged terrain, to offer natural protection from uncontrolled growth,” explains Mauricio Rovira of the island’s Urban Development and Planning Authority, “but stringent planning controls are in place to keep urban development in check. The island has more than its fare share of high-value locations, but the unspoilt central region of El Pla is tipped to be the biggest growth area in the next five years.” Sprinkled with country estates where the landed gentry once lived, properties are on average 30% cheaper than the coast with a restored finca (farmhouse) with land starting around 500,000 euros while a possesio (manor house) with landscaped gardens can set you back anything from 1.5 million euros. Hectare for hectare, the best value is currently to be found around the serene rural villages of Alaró, Santa Maria del Cami, Binissalem and Santa Eugenia. Similar tranquil retreats such as Algaida, Montuiri and Sineu may be a little further off the beaten track, yet these established communities boast excellent infrastructures, are populated year round, and are unlikely to attract the packaging hordes. Buying inland however, does carry certain restrictions. Those considering self-build for instance should be aware that building regulations differ from community to community. “Plots with ruins are also increasingly rare,” confirms local agent Jana Von Axleben, “a throw-back to the 2001/2 moratorium on new construction building in rural areas, which caused a stampede to buy up most of the ruins and renovate from scratch. Many of these properties have now resurfaced as secondary sales, and represent exceptional value, with the potential bonus of year round rental income, depending on the location.” Volume 2 Issue 9 // Abode2 97
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EXCLUSIVE SPAIN TOP RURAL RETREATS Santa Maria del Camí Situated just ten minutes from Palma, this mellow, littletouristed oasis along the Palma-Inca railway is fast becoming one of Majorca’s artistic centres. Steeped in the past, with its pre20th century architecture and clutch of family owned bodegas, the colourful weekly market held here, draws locals from miles around. Property choice is diverse at the top end, with country estates on the market for €1million. Binissalem A fifteen-minute drive from Santa Maria brings you to lazy trained vineyard territory stretching some 400 hectares around the residential town of Binissalem. Many of the 5,000 strong population has a hand in this award-winning local industry, but the town is also slowly waking up to tourism with a small number of trendy eateries and bars making an appearance. The town centre itself is an architectural delight packed with century-old mansions-conspicuous wealth attributed to its two local industries namely stone masonry and wine. Prices however are on average 20% lower than Santa Maria. Fornalutx Perched just above Soller and oozing tranquillity, this matchbox-size village is voted ‘one of the most beautiful villages’ in Spain. At 166 metres above sea level, the village centre hosts a quaint gathering of lovingly-restored stone-built cottages with trademark painted tiles on their eaves, many with a Moorish look and boasting unrivalled views over the valley and the Puig Major (the island’s highest peak). The streets are steep and cobbled with narrow paths, with steps in the centre designed to help the mules ascend with their heavy loads of citrus fruits from the nearby orchards. The Plaza Espana, the main square has a sophisticated buzz about it when the sun goes down. Renovated townhouses start from around €795,000.
THE KNOWLEDGE •
Mallorca is a micro market with its own supply and demand depending on location. Disregard general reports on property in Spain
•
There is no MLS or central listing system in Mallorca, properties will be spread amongst hundreds of agents and details for the same property often vary
•
Prices are down by 30% from their peak in primary areas and by as much as 40% inland
•
Location is key. It’s easy to fall into the trap of buying a “better” property in the wrong place. Ask yourself who will buy your property when you eventually sell in the future
•
Building regulations are exceptionally well defined in Mallorca, and not open to interpretation by local council planning committees. However, plot availability is shrinking.
Bunyola Bunyola has for the most part avoided tourist ‘honey-trap’ status and remains one of the prettiest, authentic Majorcan villages still in existence. Situated just 18km north of Palma in close proximity to the bustling coastal resort of Puerto Soller and the bohemian village of Deià, most of the village’s trademark stone houses have been updated, giving the village a pristine appearance. Classic finca estates in the immediate surrounds can be picked up for around €1.75million.
THE VIEW FROM HERE Luis Heymann Finest Selection Mallorca Mallorca is one of the most expensive places to buy property not only in the Iberian Peninsula, but also in Europe. Boasting 300 days of sunshine every year, 23 golf courses, 25 marinas, as well as some of the most spectacular scenery in Europe, buyers consider the island a sound investment. Property prices will always remain steady due to limited land availability for new construction, which makes existing property stock highly sought-after, especially seafront and prime areas such as Puerto Portals, Palma de Mallorca and Puerto Andratx. The outlook for the remainder of 2015 indicates that property values within the premium sector will remain stable in the most desirable locations. With increased sales activity from the UK, German, Swiss and Scandinavian markets, now is certainly a good time to consider a bricks and mortar investment. www.finest-selection.com
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Abode2_
MALLORCA Property in prime locations, handpicked for you
www.39north3east.com
Town - Country - Coast Discreet Listings from €750k - €42m T: +34 695 07 37 28 info@39north3east.com
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Private Office: Calle Mallorca, 17 07460 Pollenca Mallorca, Spain
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FINEST SELECTION GROUP MALLORCA
TAKING YOUR REAL ESTATE REQUIREMENTS TO THE NEXT LEVEL
The Finest Selection Real Estate Group was founded in 2006 by Luis M. Heymann. Based in Palma de Mallorca, this award-winning luxury property and lifestyle group provides the highest level of advice and service to international real estate buyers, sellers and investors. There are three divisions within the group, the first one being the Finest Selection Mallorca Real Estate Division. With a handpicked portfolio of Mallorcan real estate online or offmarket, this division offers the finest choice of luxury Mallorcan properties in the most sought-after areas; for investment, lifestyle or retirement purposes. The Finest Selection Real Estate Development Division offers investors a handling service from concept to premium development and project management of both high-end residential and commercial properties as well as luxury hotels. The Finest Selection Interior Design Division specialises in luxury and contemporary interiors with a cosmopolitan touch, offering unparalleled style for Mallorca´s most discerning homes. When buying luxury property in Mallorca, you‘ll not only want to opt for breathtaking views and the highest standards in services and amenities, but also a secure, sustainable investment based on sound advice. We pride ourselves on providing a premium consulting service tailored to each
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client, taking your personal preferences into consideration at competitive rates in line with the market, whilst paying special attention to location and building quality. Our brokers are committed to exceed your expectations and help you find the perfect property for your
ownership. For those leading demanding lifestyles, a suite within a condo hotel is not only a hassle-free holiday home but also a source of lucrative rental income. The first class hotel management takes care of all maintenance, rental and administration issues pertaining to your suite.
demanding lifestyle. Portals Hills Boutique Hotel is Finest Selection Group’s latest development. Just minutes from the über chic Puerto Portals this Miami-inspired boutique hotel is the first condo hotel in Mallorca and will arguably become one of the most glamorous and fashionable on the island. The condo hotel concept provides owners with a stylish home away from home in a luxury hotel but without the usual problems of holiday home
Entrepreneur, award-winning developer of high-end properties and a top producer selling luxury real estate investments, Luis Heymann is originally from Germany and moved to Mallorca in 1991. Luis held various management positions in Spain, the UK and the Caribbean. With over 20 years of international marketing and sales management Luis has developed an exceptional understanding of customer needs and is a highly respected expert in international property marketing.
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Luxury
THE
ULTIMATE IN
LIVING
VILLA BELLEVUE MAR IN PUERTO ANDRATX
DELUXE SUITE IN PORTALS HILLS BOUTIQUE HOTEL
2015 |
1|
39 - 47 m2 | CO-1020 | 449.000 - 550.000 Ð
2014 |
5 |
6 |
585 m2 | V-4812 | 7.9 Mio Ð
PENTHOUSE IN PORTALS HILLS BOUTIQUE HOTEL
2015 |
2 |
2|
105 m2 | PH-8881 | 1.85 Mio Ð
FINEST SELECTION REAL ESTATE | +34 971 911 254 | www.finest-selection.com
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EXCLUSIVE SPAIN
Cool
and the gang Much more than just a party island – property investments on the Spanish island of Ibiza are rocking. Laura Henderson reports
W
hen enterprising farmer and artisan Joan Mari opened his drive-up bar on the outskirts of San Carlos in the north of Ibiza in 1954, little did he know that his makeshift hangout would become a bona fide symbol of la buena vida (good life) for the entire island. Mari’s pit stop paved the way for a humble dance hall and barbecue. Business began to prosper, even in those tentative first years in which European tourism was just spreading its holiday wings. Suffice to say, the seeds of a Mediterranean chill-out utopia were sown and the island has never looked back. Today, that same irrepressible freedom, colour and warmth that attracted those hippy pioneers continues to shape the island’s intimate yet cosmopolitan tourist evolution, one that happily embraces old-school values: vintage landscapes, pristine whitewashed towns and hoteles rurales as much as the newer addition floaty fashion, überglam marinas, night clubs and super-size holiday villas.
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Compact and bijou, the island squeezes a lot into its small surface. About half the landscape, particularly the rugged north east is covered with dense foliage, thick pine forests and olive, fig and fruit farms, while the coastline is characterised by dozens of cosy bays, walking trails, and out-of-the-way beaches. Northerly resorts such as Santa Eularia, Es Cana and Puerto de San Miguel are growing in popularity with families and jaded city dwellers seeking a quieter, slower paced getaway experience, while the livelier south around Ibiza Town, Playa d’en Bossa and the party-on Mecca of San Antonio have captured the imagination of a younger international crowd who don’t like to sit still. Residential tourism, on what is the third-biggest and most westerly of the Balearic Islands, has made successful inroads into the holiday scene over the last decade, bringing a burgeoning pool of ‘quids in’ buyers with annual property price appreciation (pre-2008), booming in comparison to some neighbouring islands, achieving increases in the region of 100-400%. While the recession hasn’t had the same impact on sales volumes as the rest of Spain, high-end homes in the £2m+ range have nevertheless witnessed a degree of stagnation with a slight downward trend for less expensive properties. All told however, most agents are adopting a ‘business as usual’ approach, their upbeat mindset bolstered by strong fundamentals underpinning the market: namely a strong appeal with international buyers, a finite supply of quality property and tight building regulations. “The market in Ibiza hasn’t only kept going during the recession; it has evolved,” says Roman Lang of local agents, Gould Heinz and Lang. “Before, the must have luxury properties were to be found in the south and south west. Now other areas are ‘bigging up’ their selling points – each offering scope with a diverse selection of property and price points to match.” Rental yields, with a footfall of over 2m visitors to the island every year, are also delivering good returns, adds Petra Lavin of prestige agents Lavin Estates: “Summer, when the majority of property owners let, is a busy period. A well appointed villa with pool can easily achieve £6,000 per week, potentially much more for a large, luxury property.” So where are the top places to invest on the White Isle?
South/West Brimming with luxury residences and stylish mansions along with more newly constructed turnkey apartments and villas, the south west of the island hits the spot for short-break investors and buy-to-letters with easy access to Ibiza Town, the marinas and the airport. “Many properties in the area boast stunning views of Ibiza old town D’Alt Vila,” confirms Lang, “plus you’re just minutes away from the cultural sites and leisure attractions of downtown.”
East/North East A quieter stretch of the island marked by quaint villages, secluded bays and olive and fruit farms, a workaday local population means that there is life here year round. Key areas include San Carlos and San Juan. “Property here has excellent capital yield potential thanks to a new road system extending from the south,” confirms Balbin. “Larger plots are still available in quiet, rural settings, fuelling the belief that it’s less important where on the island you live these days.”
BUYING IN IBIZA •
Buyers should allow for an additional 10% of the purchase price to cover property purchase costs, including solicitor’s and notary fees.
North/North West
•
Ibiza’s ‘up and coming’ hotspot, the sparsely populated northwest reaches (the island’s main agricultural region), boasts a contrasting landscape of rocky outcrops, canopied forests and small-scale beach resorts. The ideal hunting ground for larger rural estates, renovation projects with conversion potential and traditional village townhouses, property prices are a good 30-40% below those in the south. “Locations to watch include Portinatx, Puerto de San Miguel and Cala San Vicente,” confirms local agent Monica Balbin.
Once an offer is accepted by the owner a ¨compraventa¨ (buy/sell) contract is signed between buyer and seller. This ties all parties in to the agreement and specifies a completion date.
•
Buyers are required to put down a 10% deposit. A final and binding contract is signed in the presence if a notary, at which time, title deeds and keys are handed to the new owner.
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“Allow yourself to step into a world of all-inclusive quality in life”
Cap Blanc Ibiza represents a luxurious residential private complex with on-site 24 hour security, with only 9 modern design villas all with exceptional seaviews and located in Ibiza – Talamanca, Cap Martinet, one of Ibiza’s outstanding and sought after locations.
The grounds of Cap Blanc Ibiza have been carefully selected not only to ensure the estate’s aesthetic value, but also your investment. Cap Blanc Ibiza is currently the most luxurious real estate development on Ibiza.
The villas of Cap Blanc Ibiza will be built using the most innovative construction methods. They are decorated with attractive architectural details and are fitted with the latest smart home automation systems to give them the ultimate finishing touch.
Each villa is ensured total privacy whilst enjoying unobstructed views of the sea. Within such an extraordinary space, Cap Blanc Ibiza stands as an exclusive private world of comfort and security. The luxurious modern design of the Cap Blanc Ibiza villas are very open, luminous and airy.
Each villa has been exclusively designed with unique shapes and proportions, allowing it to fit in naturally with its surroundings. Construction period of each villa is approximately 12 months. Each villa will be tailored to your own wishes.
One of the main features of Cap Blanc Ibiza is the way it communicates with its environment, each residence has a private garden, lounge areas, large outside swimming pool within its own exclusive private world.
For further information contact: Global Luxurious Properties T. +31 (0)-15-2630195 info@globalluxuriousproperties.com www.globalluxuriousproperties.com Minerva Development T. +31 (0)20 471 57 83 info@minerva.nl www.minerva.nl
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BLUEPORT ALTEA TIMELESS VILLAS TAILORED TO YOUR WISHES
THE PRESTIGIOUS ALTEA HILLS ESTATE GROUP LAUNCHES THE MOST LUXURIOUS EXCLUSIVE RESIDENTIAL VILLA COMPLEX ON THE COSTA BLANCA. It’s BluePort Altea, a project of extraordinarily beautiful and comfortable villas located in the best available spot in Altea Hills - a unique place from which the views of the bay of Altea are simply unsurpassable and where the peace and quiet, privacy and natural surroundings envelope each and every home. BluePort stands for elegance and exclusivity specially for highly refined residents who invest on a luxurious level, and who seek to develop their stylish life in a setting of privacy, family comfort and first-class refinement. The grounds where BluePort is located are truly mind blowing. All BluePort residences are situated on private plots of around 1,000 square metres. Each villa has approximately 500 square metres of living area, including 5 bedrooms, a grand living room
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with an open kitchen, a dining room, spacious bathrooms, a fitness centre, and an optional cinema room; they also contain independent service-quarters, an elevator, a garage for 3 cars, ample storage space and pleasant inner patios and gardens. Moreover, we encourage you to give it your own personal touch and uniqueness. There is Truth in the proverb “My home is my castle” being more than just luxurious surroundings. BluePort Altea offers an absolute sense of security as a result of the enclosed perimeter of Altea Hills. The shelter of the mountains and the endless sea provides the perfect symbiosis between the privacy of your home and overwhelming nature. The contrasted character of BluePort Altea inspired by world-famous interior designer Eric Kuster to create a dedicated design line; Blue by Eric Kuster. It is the perfect match born from a passion for luxury and beauty, balancing classic and modern, light and dark, hot and cold, luxury and natural materials. Blue
by Eric Kuster is Metropolitan Luxury in one of the world’s most beautiful places.
Apply for a full brochure: www.globalluxuriousproperties.com www.blueportaltea.com Contact Agent: Global Luxurious Properties Team of Professional Real Estate Consultants Phone: 0031-(0)15-2630195 Email: info@globalluxuriousproperties.com Website: www.globalluxuriousproperties.com
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EXCLUSIVE SPAIN
TRIPPING THE white fantastic Jo-Anna Walsingham Roberts of boutique holiday agency The Sunset Suite reveals her Ibiza highlights What ‘must-dos’ would you recommend to clients visiting the White Isle for the first time? Ibiza’s calling card attraction is its world famous nightclub scene, but many also want to experience the soul-shaking sunset (which never fails to impress). Ibiza town offers a more traditional perspective on island life, and Dalt Vila, Ibiza’s vintage old quarter, is a must, with its quaint restaurants, cobbled streets, and yesteryear atmosphere - a taste of how Ibiza played out prior to the tourist invasion of the 80s. There’s also an array of ‘hidden gem’ boutiques and eateries that most tourists never get to experience thus creating some magical moments if discovered. Ibiza’s beaches are rather special too, and first timers will be spoilt for choice, with many of the best ones located in the slow-mo, über-scenic north of the island. How has the island evolved over the past few years as a holiday destination? Ibiza has garnered a global reputation for its vanguard dance music scene, as well as amassing its share of titillating headlines with top billing going to hedonistic hot spot San Antonio. The visitor profile is however changing, with the emergence of an altogether different clientele; one that has evolved from effervescent clubber to ‘soak it all in’ aspirational holidaymaker;
those who have a true affinity with the island. Many return visitors are looking for the “Balearic vibe” but at a different pace, and, on a more exclusive scale. As such, the island now boasts some of the swankiest beach bars, and beach clubs that lend themselves to the image more associated with hey-day Marbella through the noughties.
Villa Nubes
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Blue Marlin Beach Club at Cala Jondal has stolen a march on this front, and now with brand franchise Pacha following suit with stylish Destino Beach Resort, and buzzing Ocean Beach Club – it’s an altogether different R&R vibe in the making. What has been a dominant ‘nocturnal’ timeline is also changing with venues carving out a daylight hours party-niche presence perhaps best illustrated with the success of Ushuaia Beach Hotel with its sundowner club which closes at midnight when many of the main nightclubs are just opening their doors. Which particular services does The Sunset Suite provide? First and foremost, we pride ourselves on ensuring that our clients are in the perfect villa – one that suits their needs to a tee. Once booked, our on-island affiliate agents are at their disposal with a portfolio of bespoke services from reserving ‘impossible-to-book’ tables at the best restaurants, to securing frontline sun-loungers at the beach clubs of their choice. Additional VIP treats range from island-hopping boat charters, gourmet private dining experiences, even a private yoga session by the pool, or perhaps hiring a translator to assist with a business event. We also offer a personal hosting service so clients can have a member of our team either on call, or to host them into the VIP areas they choose. As for 24/7 perfection - how about a relaxing day at Nassau Beach Club or Amante Beach Club, dinner at the exotic Bambuddha Grove restaurant, a VIP evening at Pacha, with possibly a luxury boat charter across to Ibiza’s little sister, the island of Formentera, where the pace is slower, the beaches almost Caribbean, and the vibe offering a whole different side of the Balearics? For a special sunset treat perhaps dinner at Cotton Beach Club on the west coast; a restaurant that hits the spot for exceptional service and views to write home about.
What’s new for the 2015 season? There are several fabulous new venues opening on the island creating a real buzz. Cirque du Soleil will be performing at The Casino de Ibiza and setting the entertainment bar for choreographed thrills. World famous chefs Ferran Adria and Albert Adria (of El Bulli and Tickets in Barcelona) will also be calling Ibiza home this season. And with the hotly anticipated launch of the Exodus Superyacht complete with coveted VIP beds, it’s going to be one of the best summers yet.
SUNSET SUITE ESSENTIALS The Sunset Suite specialises in White Isle boutique holidays and private VIP events for individual clients. For the ultimate break away, the company provides a 360 degree bespoke service that embraces all aspects of the perfect vacation from selecting the finest luxury accommodation down to the finer touch-point VIP trimmings from fashion hampers complete with designer sunglasses and bikinis, through to gourmet pool parties and vintage cava tasting. If you are planning a special event – a wedding, product launch or birthday, our bespoke events team will ensure all aspects of your ‘big day’ are meticulously planned and effortlessly orchestrated so you can simply relax and enjoy the moment. Chic, sleek and memorable, The Sunset Suite creates dazzling experiences for a lifetime of magical memories. www.thesunsetsuite.com Volume 2 Issue 9 // Abode2 107
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EXCLUSIVE SPAIN
STRAIGHT UP STYLE C
Calaconta Villas presents the ultimate in high-spec, low-impact living in one of the most desirable areas of Ibiza
alaconta, the hugely successful villa development in Ibiza, is proud to announce the launch of The Calaconta Collection. Featuring six customdesigned homes perched magnificently along the perimeter of this exclusive gated community, The Calaconta Collection, with houses from €2.95million, will offer the ultimate in beauty, privacy and security in its prime location in south-west Ibiza. With breathtaking sunset views, each bespoke home offers over 8,500 square feet of contemporary living space. Incorporating an exotic, Arabic influence, the houses will be built around a central patio designed to merge seamlessly with the environment and to draw a sense of the sea and sky inside. Each home will also enjoy a private pool and large terraced area set within beautifully landscaped gardens planted with indigenous trees and flowers. Buyers of The Calaconta Collection will have the luxury of working directly with the award-winning design team to create the ultimate island home. Eco-thoughtfulness and innovation is also at the forefront of the design process. Indigenous materials, like local Mares stone, marble, wood and iron will be used throughout and geothermal energy for air conditioning and heating within (the first development on the Island to use this technology). There is also an efficient rainwater system, grey water recycling and rock and aggregate recycling. Residents will be able to tap into a 24-hour concierge team offering a menu of services including catering, cleaning, gardening and babysitting staff, as well as chauffeured car hire, yacht charter and VIP bookings. The development also features its own 3,000 square foot fitness centre and spa with luxurious treatment rooms and the latest gym equipment. Christian de Meillac, Head of Spanish Sales at Knight Frank says, “Ibiza is the shining star of Spain – it is the place to be seen
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and the place to escape. It offers a variety of lifestyles options for any discerning international buyer and above all, Ibiza is cool. Calaconta offers sophisticated style and contemporary architecture in a natural and sustainable environment. There is limited property available on the island and a growing demand.” Located just 20 minutes from Ibiza’s airport, 30 minutes from the cultural and buzzing hub of Ibiza Town and 7 km to a new golf course, The Calaconta Collection is set in one of the most desirable areas of Ibiza, making it an attractive island home, or a lucrative investment opportunity, for discerning buyers. To visit the Show Villa at Calaconta or for more information, call: +34 622 458 022 or visit: www.calaconta.es or Knight Frank.
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Calaconta Designer Jose Peman The View from Here Ibiza has always been a special place to me and I have been visiting for years. We recognised that the island was attracting a new breed of buyer - those seeking a luxurious villa but also one that was private, safe and secure and with the amenities and service delivery they have come to expect. So, when the opportunity to develop such an offering arose, which is totally unique in Ibiza, we jumped at it. Calaconta is the first luxury development of its kind and we are very proud of what we have achieved. Also it offers peace of mind that whether you are residing there or not, you and your property will be looked after.
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EXCLUSIVE SPAIN
King of CLUBS Primed for another season on the White Isle, Abode2 catches up with geek-to-sleek DJ Calvin Harris and discover what’s next for the EDM genius 110 Abode2 // Volume 2 Issue 9
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t’s fair to say that Calvin Harris is a big jumper. From humble beginnings as a supermarket shelf stacker, his meteoric rise to King Pin DJ is a head-scratching tale from the pop electro music landscape. Harris’s natural interest and penchant for dance music was nurtured when he was given a computer complete with music software in his youth. After finishing school, he set his heart on becoming a musician, saving up money while working in his hometown of Dumfries, Scotland with the aim of eventually relocating to London. He moved there in 2003 with £4,000 and the hope that he could find singers to accompany instrumentals he’d created from his bedroom. But after a fruitless year where he burned through all his cash, he moved back home at the age of 21 and went back to donning the grocery store uniforms. “I was just thinking, that’s probably it, that’s my attempt,” he reflects. The internet, however, provided a second chance. Signing up for Myspace as a creative outlet while living at home, Harris sent off songs and demos to people he thought were loosely connected to the music industry. His Manager Mark Gillespie, who had previously worked as a talent buyer for British clubs, was one of them. He added Harris as a friend on the social network – and eventually agreed to manage him after the artist scored a deal with EMI music. “Bizarrely within that month I signed a music deal and I stacked my last shelf at Marks and Spencer,” he recalls. Though Harris began his career as a singer and built up a considerable following overseas, he admits he has never felt comfortable on stage with a backing band. “Following two albums and various tours, I decided to stop everything and return to what made me happy: writing songs and producing music.” Around that same time, he started to pick up a few odd DJ sets at a time when the EDM craze was just beginning to emerge across the Atlantic in the states. “He moved in both folds for a while and felt more comfortable behind a set of turntables than on a stage,” says Gillespie. “He made what felt to everybody like a natural evolution at the perfect time.”
Ironically, Harris’s quest for respect in the song writing world is exactly what has propelled him to the top of the top-earning DJ list, raking in a cool $66million to date. His recent deal with Sony/ATV Music publishing, has earned him a sizable advance too. That, combined with endorsements, production deals and song royalties, easily places him above the second-placed Tiësto, who took in $32million. Now settled in Los Angeles, he takes great amusement at the six-story likeness of him stuck on the side of the Las Vegas MGM Grand, where he is king of the nation’s largest nightclub with a contract to play there for the next two years. And with a wedge of greenbacks in the bank, it’s probably safe to say he won’t be returning to his grocery store gig anytime soon.
THE CALVIN CHARTS Listed in 2014 FORBES’ Celebrity 100 and rising 47 places – he is the world’s top-earning DJ, with a $66million paycheck last year. He currently holds the record, surpassing Michael Jackson, for the most top ten hits off of one studio album on the UK singles chart. He had nine top ten singles off of the album “18 Months.” Among dance music artists, he’s found the most success crossing over to the realms of pop music working with the likes of Rihanna, Katy Perry and Ellie Goulding. His global popularity has him playing headline gigs not only at EDM-focused events like Electric Daisy Carnival, but also at festivals like Coachella. ‘Motion’ Calvin’s fourth studio album, went straight to the top of the album charts when released in October 2014 – top tunes include the former Big Top 40 number one ‘Blame’ with John Newman, and the HUGE anthem ‘Summer’. He recently scooped up nods at the MTV EMAs and the American Music Awards and has also been nominated for a BRIT award.
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CÔTE D’AZUR
Old
Blue Skies Traditional but never dull, France’s flagship region of Provence keeps investors coming back for more, says Terence Alldritt of luxury agent Groupe Mercure
W
hile the last decade has seen a proliferation of second-home destinations opening up across the globe, traditional getaways closer to home have been quietly upping their game and nowhere more so than Provence, where first class infrastructure, healthy rental yields and solid capital growth continue to offer a bedrock of sustainability. Midi climes lured a healthy 18m+ to the French Riviera last year, with Provence remaining a key location for buyers, especially sun-seekers from Northern Europe including a healthy smattering of UK second-homers. Provence epitomises la France profonde chic. Cities such as Nice, Avignon and Aix became culturally autonomous early on, and consequently have the social cohesion and established traditions that make provincial living so good. The region also scores well on communications - weekend breaks now common currency thanks to the proximity of motorway networks and major airports - location influencers, which also dictate rental patterns. In Provence a five month letting season is not uncommon. The Côte d’Azur can often stretch to six or
more, attracting overseas and Parisian clientele for whom the Midi way of life is pure Elysium. After several lacklustre years, property values are regaining ground, especially well-renovated villas and traditional
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detached homes. A strong pound in relation to the euro also means UK buyers are in a favourable position, with a new high-speed train link between the UK and the region planned for this summer, tipped to boost interest in destinations such as Avignon. Buyers looking to escape the Riviera glare will no doubt favour the gites, farmhouses and old villas of the arrièrepays. The aromatic garrigue-covered hills provide welcome respite from the coastal buzz and typically cost a third less, with detached period properties starting from €390,000.
HOT SPOTS Agay Just 20kms from Cannes, Agay has kept its old-fashioned ambience and remains a favourite with visitors from Europe. Part of the Saint Raphael commune, the resort’s primary appeal is its frontline position on a scenic section of Mediterranean coast; the imposing red cliffs of the Massif de l’Esterel rising behind the town, and down to the harbour, blended with a stunning mile-long beach that stretches as far as the eye can see. Residents benefit from the area’s tranquillity while still being able to access the more ebullient lifestyle of Saint Raphael, Frejus or any of the other Riviera resorts. On the market with Groupe Mercure is a stunning detached property overlooking Agay Bay with views to St Tropez. This magnificent 8-bedroom residence offers enough living space for a large family, friends and guests and comes with a separate guest house. Price: On application.
Mougins The one time home of Picasso who took up residence in a hilltop Mas beside the village church, Medieval Mougins is one of the region’s most picturesque hinterland villages, renowned for its gourmet restaurants and art galleries and steeped in yesteryear character. Groupe Mercure is marketing a luxuriously appointed new build home with pool set in beautifully landscaped gardens. Just a 15 minute drive from Nice airport, this spacious six-bedroom property with a sale price of €12,720,000 boasts a triple reception area, discothèque and gym.
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FRANCE
NEW
Beginnings
Becoming a French resident can bring both lifestyle and financial benefits, but only with some judicious tax planning, advises Cecile Acolas of Rosemont Consulting
T
he lure of a quintessentially rustic retreat in the heart of the countryside or a chic pied-à-terre on the Côte d’Azur has huge appeal, not least because of the aspirational pull of a brand new life. Making that step change decision to spend more time in France however also raises the issue of French residency status and with it, the necessary restructuring of one’s assets and income. Individuals are deemed to be resident in France for tax purposes if: • Their home or primary abode is in France • They conduct a professional activity in France, salaried or not, unless they can prove it is a secondary business role • Their main economic interests are in France There are several ‘gateway’ factors to take into account when considering one’s residency tax status. Individuals are taxable on their worldwide income and assets, subject to certain tax treaty provisions. Appropriate tax planning can ensure that with the application of those treaties, that revenue earned outside of France, may be taxed only by the foreign State, a good example being rental income accrued in another country.
Wealth Tax Annual wealth tax (Impôt Sur la Fortune) is payable by individuals, if their net value exceeds €1.3m. On becoming a French tax resident, for the first five years, however (subject to certain conditions), the taxpayer is exempt from French wealth tax on assets located outside of France. 118 Abode2 // Volume 2 Issue 9
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This important tax exemption can allow for tax optimisation especially when deciding on how to structure and finance the purchase of French property. Consideration should also be given to maintaining and efficiently structuring any financial investments outside of France instead of opting to acquire French property via a cash purchase.
Estate Planning French inheritance tax works quite differently from other jurisdictions including the UK, as it is the beneficiary who bears the tax burden. This is imposed on a sliding scale basis depending on the beneficiary’s relation to the testator. It’s also important to understand French inheritance law in the context of new European inheritance legislation which comes into effect this August; a case in point being an individual’s holding assets through a trust – a review of the trust structure before becoming tax resident in France is essential, to ensure the trust remains tax effective. For those living primarily on their capital savings, ensuring an efficiently structured life insurance wrapper is in place before relocating will make for a tax efficient move. With over 20 years in the industry, Rosemont Consulting are highly experienced in assisting clients with the ‘stepped’ process of relocating to France, from the nuts and bolts practicalities of settling in to a new home, to formalising business and estate succession planning. For further advice and updated information, please visit: www.rosemont.mc
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Abode2
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FRANCE
One Step Beyond With the demand for customised services booming – Celia Woods meets Niamh Costello of bespoke consultancy Nerc Concierge and discovers what ‘going the extra mile’ in the world of lifestyle management really means How did the company come about? We initially began assisting clients who owned properties in France and who couldn’t cope with the bureaucracy and towers of paperwork that came with a home abroad. We helped owners understand, manage and maintain their maisons secondaires. This remit has since expanded into a full portfolio of management services. We’ve established a presence in France that
incorporates both villa/second home and lifestyle management; the latter part of the business embracing everything from diarising holiday schedules, securing preferential villa bookings and staffing to securing VIP tables at the finest restaurants and managing high profile private and corporate events. All elements stem from our team spirit and unbeatable determination to provide seamless solutions to individual client needs.
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What sets Nerc Concierge apart from other concierge providers? The singular difference is that we don’t have a standard template of services on offer. Individual clients are looked after on a case by case basis, based on their particular requirements at any given time. We don’t cherry pick services based on a formulaic package or membership formula. Each client is unique and as such, we provide distinctive services to match that uniqueness. Our established, long-standing relationships with local suppliers and affiliate partners ensure that our services are tailored to the expectations of the individual.
Do you think the concierge industry has evolved in recent years – where will it be in five years’ time?
What services do you offer absentee homeowners?
The sector has changed beyond recognition. Previously, concierge services were the domain of the luxury hotel sector or membership based booking services catering to the needs of high net worth individuals. Today, the breadth and scope of the role is so much more diverse, with a yin-yang focus on managing both the professional and personal lifestyles of time-crunched individuals. Our raison d’etre is to provide a service with a solution before an issue can even arise. It’s about relationship building and anticipating without imposing.
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How can companies like Nerc add value?
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The intrinsic value comes in saving clients time and money whilst organising, arranging and executing services to meet their needs; providing solutions and pre-empting their desires. We like to say that we don’t just add value - we reinvent it.
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Managing household accounts – we ensure that bills and communications are dealt with efficiently to avoid ‘late payment’ penalties or service providers over charging. Staff management – with any second home, comes the requirement to take on both permanent and seasonal staff to manage the upkeep of that property. To ensure the effectiveness and efficiency of this set-up, we source appropriate employees and carry out quality control checks to ensure that there are no unforeseen surprises when owners arrive. Project management – one of the hardest jobs for an absentee homeowner is to project-manage maintenance work that needs doing. We provide a full project management and supervision service to ensure that work is completed to the highest standard, on time and within budget.
Desirable to-dos in Cannes and Paris Cannes
Paris
2 An early morning visit to the Marché Forville to awaken the senses – imagine a vast array of succulent, fresh fruit, vegetables and stunning Provençale flavours. 2 Lunch on Vegaluna Beach – the perfect pairing of homemade cooking combined with a spot of sunbathing just a stone’s throw from the turquoise waters. 2 For coffee lovers, afternoon hot chocolate or “nutella noisette” at Volupte Anytime is a must. It’s an atmospheric café that is consistently good in terms of service and quality ingredients. 2 Super yacht spotting at the neighbouring billionaires’ quay in Antibes is fun. Later perhaps, for a spot of culture, try a quick tour of the re-opened Picasso Museum. 2 A stroll in the Suquet in the old town at night is perfect for soaking up the bustling atmosphere. 2 For some of Cannes’ finest cuisine – it has to be diner at La Fable. Try their signature ‘Souffle’ but remember to order in advance. It may take fifteen minutes to prepare, but it’s a dish that’s well worth the wait.
2 Rise and shine for an early morning jog around the Bois de Vincennes. 2 Catch the rays by the Seine on the Paris Plages or perhaps a riverside picnic on one of the seasonal ‘pop up’ beaches. 2 Stop for brunch in Claus (5 minutes from the Palais Royale) - a must for anyone who loves fresh French produce. Their pastries are a life-changing experience. 2 Enjoy an evening aperitif in Playtime, especially if you like cocktails in fashionable surrounds. This atmospheric bar has a quirky 50s vibe and is one of the few establishments of its kind on the left bank. 2 If chocolate is your passion - head to Debauve and Gallais. For purist gourmands who only want to be served what was good enough for the Kings of France. 2 Dine at Le 39V located on the top floor of a stunning Hausmanian building in the 8th district. A superlative chance to taste the modern reinterpretation of French gastronomic cuisine by Michelin starred chef Frederic Vardon.
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FRANCE
French Fancy T
Joanna Leggett of prestige agents Leggett Immobilier reveals the art of becoming a true ‘Bon Vivant’
here’s a certain magic in the Midi lifestyle – it could at first just be the sun on your back, the wonderful light which pervades the landscape or perhaps the aromas of lavender and rosemary wafting past as you drink your morning coffee. It could even be that first sip from a glass of chilled local rosé as you await a mouthwatering feast of perfect bouillabaisse accompanied by aïoli; music to delight the senses with opera performed in a perfectly preserved Roman arena; from strolling through entrancing streets of centuries-old hilltop villages or along the glorious waterfronts which border the Mediterranean sea. Meander markets to shop for the best and freshest of produce is a total pleasure. As is sampling aperos, and tapenade made from unctuous olives, aubergine purée, anchovy spread, hummus, black olives from Nyons, green olives from Les Baux. And don’t forget the sun-blessed wonder of tomatoes – used in the eponymously-named Salade Niçoise to a simple meal of tomatoes with goats cheese anointed with a locally pressed olive oil. For this is the South of France and Provence. All such ‘moments’ form part of the seduction: a process which
entices from your very first visit to return again and again until you decide to buy in this wonderful part of the world. Long lauded as the ultimate destination – witness megayachts clustering its better known harbours – it also provides the ultimate getaway. Where Roman legions once trod, you find many hidden places of delight which avoid the latter-day tourist troops. In the upland areas of Provence and even closer to the coast still sit unexplored landscapes and isolated bays. It’s colour too. In the Camargue white horses roam, black bulls charge and pink flamingos flock. In Provence fields of lavender cut swathes across landscapes, behind Cannes, mimosa-clad hills turn yellow with promise just after the turn of the year; then there is the deep azure of the sea, bleached landscapes, olive groves, soft hues of herb-scented garrigue close to the coast, deep green vineyards and magical landscapes peppered with a Roman ruin here or medieval antiquity there – all providing a plethora for the senses. Property in the region ranges from the simplest turnkey apartment to the ultimate split-level villa offering the potential for outside living – for here gardens can be legendary and your new home, chosen wisely, can provide a sound investment for the future. www.leggettfrance.com
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LEGGETT PRESTIGE
R E A L E S TAT E
««««« BEST REAL ESTATE AGENCY FRANCE Leggett Immobilier
Ref:36870 ALPES MARITIMES €840,000 Detached Provencal villa with pool, self contained studio and fabulous panoramic sea views across to Grasse, Cabris and the Mediterranean.
Ref:35782 GARD €2,968,000 Authentic Cevenol Mas with an organic farm, Chambres d’Hôtes and successful wedding business, in an outstanding location near Nimes.
Ref:40482 VAUCLUSE €2,995,000 At the foot of the Luberon mountains, lies this magnificent 17thC restored farmhouse and guest cottage set within grounds of 1.4Ha.
Ref:45307 ALPES MARITIMES €2,799,990 Completely refurbished 440m2 villa, in a gated domaine with separate studio and 180° sea views of the Bay of Cannes towards Villefranche.
Ref:48127 VAR €3,950,000 Contemporary, 6 ensuite bedroomed, hilltop property, 3kms from the coast enjoys glorious, direct views over St. Tropez and the sea.
Ref:45366 BOUCHES DU RHONE €1,249,500 Provencal manor with fully operational gite business between Arles and Aix en Provence and not far from the beaches of the Camargue.
www.leggettfrance.com
info@leggettfrance.com
0033(0)5 53 60 84 88
Head Office: Leggett Immobilier, La Maison du Chapitre, Route de Riberac 24340 La Rochebeaucourt France. All prices include agency fees.
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CHARENTE MARITIME
Maritime Mover Boasting some of the finest resorts on the Atlantic seaboard, the Charente Maritime hits the spot for oceanfront sophistication, says Julie Savill of Manoirs et Chateaux Immobilier
W
ith the second highest number of sunshine hours of any area of France (2331 hours per year, on average), quiet, unspoilt beaches and picturesque fishing ports, it’s little surprise that the department of Charente Maritime is one of the most sought-after locations in France for both second-home investments and for those looking to relocate. In prime demand and blending the best of coast and country, tastefully renovated stone houses within thirty minutes’ drive of the Atlantic coast tend to get snapped up quickly, especially those located in the sheltered surrounds of the cluster of authentic villages and ports that dot their way along the scenic Gironde estuary. Mortagne-sur-Gironde is one such example; a vintage fishing village and hugely popular with the French as a holiday retreat. Less glitzy and glossy than its better-known Atlantic coast neighbours, there is a pleasing sense here of a community-minded town going about its day-to-day life. The harbour is home to a dozen or more working fishing vessels
(the area is well known for its elver catch), and there is a stable year-round community which means that the local restaurants, shops and other businesses stay open. If a coastal location is more to your choosing, unique frontline investment opportunities do occasionally come onto the market. Manoirs et Chateaux is currently marketing a prime beachfront plot approved for residential build; the perfect location for a spectacular detached home with its toes in the sand; one that sets the mind racing with its potential for glass curtain walling and spectacular views. Head further inland and you soon reach the trammelled vineyards of the best known cognac producers: Martell, Remy Martin, Courvoisier and Hennessy. Alongside production of this world-renowned drink, comes a legacy of fine housebuilding that echoes the riches of this centuries old trade. Perfectly aged manoirs and Maisons de MaĂŽtre (think Georgian in style) can be found in and around larger towns such as Saintes, Jonzac, Pons and Cognac itself. Rural France experienced a sharp dip in prices in 2009
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CHARENTE MARITIME The Knowledge
followed by a period of stagnation. Over the past year however, the market has reawakened and, while there is still room for negotiation on many properties, any lingering fire sale undercurrent has been well and truly extinguished. The favourable Euro to Sterling exchange rate has also dramatically increased the buying power of British investors compared to this time last year. In addition, mortgage rates in France are falling with a fixed repayment mortgage rate settling at 2.65%.
200 kilometres of surf ’s up coastline isn’t bad for starters, but once you’ve clapped eyes on the vineyards and valleys and countryside ablaze with sunflowers, the lock on your property wallet will really start to loosen. Arguably the most sophisticated of Poitou Charente’s four departments, beach life dominates the Charente Maritime scene, from the bucket and spade classics of Chatelaillon and La Palmyre to the offshore glitzy Ile de Re, salty air Ile d’Oleron and smaller d’Aix, where Napoleon was imprisoned before being exiled to St Helena. Frontline favourites include the medieval arsenal of Rochefort and the internationally renowned yachting centre of La Rochelle with its romantic arcaded old town. Further south, family friendly Royan sits on one of Europe’s largest estuaries, the Gironde, with Charentais carrelets (fishing cabins) and a string of quaint resorts including peninsular cutie Talmont prettifying the coastline. Head inland and the countryside takes on a verdant hue; the Charente River meandering through the GalloRoman town of Saintes to the single-estate vines of Cognac, rolling hills and a patchwork farmland of rape and corn coming into play eastwards, with the inland waterways of the Marais Poitevin (Venise Verte) defining the north with its lazy tree-canopied landscape of canals inviting you to punt your cares away.
Manoirs et Chateaux The essential French property collection info@manoirschateaux.com +33 5 56 71 36 59 / (0) 800 270 0101 www.manoirschateaux.com Abode2 Volume2 Issue9.indb 125
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Abode2
FRANCE
Playing for Keeps If buying a maison secondaire in France is your dream, don’t be put off by the French tax system, says Robert Kent of specialist advisory consultancy Kentingtons
O
ne of the primary concerns for aspiring buyers considering a bolthole in la belle France is whether wealth tax will unduly affect them. Presently, wealth tax is applied where one’s assets are above €1,300,000, and is assessed on the 1st January each year, with rates ranging from 0.5% to 1.5%. If your primary residence is overseas, then what is assessed is the net value of the assets situated in France, with assets abroad being exempt. If the net value of your French based asset is therefore greater than €1,300,000, then wealth tax will apply, so if your aspiration is to spend more than this on a property, a tenacious approach to financial planning is essential. The most even-keeled solution to a French house purchase is to raise a loan on the property from a French bank. There’s no requirement to borrow the full value of the property, but merely the value above €1,300,000. It’s important to bear in mind however that any other assets in France, such as cars, furniture, even bank accounts will also be included in the estate value assessment, so it’s best to only use accounts outside
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France. A wealth tax exemption does however apply to fine art and antiques, mitigating any concerns about bringing luxury ‘must-haves’ into one’s new abode. As always, property valuations inevitably bring with it a degree of flexibility. This however is less commonplace when it comes to the assessment of high-value properties, which tend to fall under the close scrutiny of the tax authorities. If you underestimate the value at the point which the property is sold, the tax office may reassess your residence for wealth tax, on what they see as the correct value, and apply the appropriate penalties which they regard as not fully declared. Having your property professionally assessed is therefore an essential precursor to take. All of which begs the question - is now really the time to splash out on a luxury pied-à-terre? With the Sterling Euro stand-off gaining strength, I’d say there has never been a better time to buy property in France. If facts and figures are your compass to buy - the Central Bank interest rate is currently just 0.05% - all of which makes for rather appealing mortgage rates.
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Abode2 Ad 210 x 297:Layout 1 10/11/2014 16:27 Page 1
Making your
Move to France less taxing
France: 0810 23 84 23 - UK: 08451 23 84 23 Email: info@kentingtons.com - Web: www.kentingtons.com
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FRANCE
IN GOOD COMPANY I
t’s rare these days to come across a group with a ‘magic wand’ approach to life. The Riviera Alliance (www.rivieraalliance.com) ticks this box with aplomb. Combining many years working and living on the Côte d’Azur, the network offers a ‘one-stop’ portfolio of property services ranging from specialist mortgage, tax and legal advice, through to the sourcing, selling and renting of property, interior design, renovation and even newbuild construction. Alliance member, Juanita Viale, International Marketing Manager for Nice Properties Real Estate explains, “If you have ever been to a different country where you don’t speak the language, you know how valuable and essential real help can be. This is exactly what the Riviera Alliance does - we help. We are in effect your personal team dedicated to fulfilling your property requirements and in doing so, we save valuable time side-stepping the need to outsource everything independently. There is no charge to be involved with the Alliance – clients are simply tapping into an established network of professionals that can make their life on the Riviera easier.”
Abode2 meets an inspired team of property professionals devoted to making a home in la belle France a made-to-measure pleasure some of the area’s most desirable homes that have perennial appeal to HNW buyers. Nice, Beaulieu sur Mer, and central Cannes meanwhile are popular locations for turnkey boltholes within easy access of the beach, restaurants and boutiques. Often one of the most overlooked factors for clients when buying, is reviewing how they actually want to spend their time. It’s important to let favourite leisure activities guide you to where you want to be, instead of being solely dictated by budget. At the end of the day, a property investment should always be both a head and heart decision. JUANITA VIALE Nice Properties Real Estate www.nice-properties.com
French Fancy Boasting an idyllic climate and global cachet, the Côte d’Azur embraces a unique mix of residential real estate along its pristine coastline. Prestigious areas such as St Jean Cap Ferrat, Cap de Nice, Villefranche sur Mer and St Paul de Vence boast 128 Abode2 // Volume 2 Issue 9
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Low-Key Living For those seeking an easy-care lifestyle; one property purchase option to consider, is buying in a new-build residential community where the lifestyle is geared towards ecomodern smart living. Developments are built with the latest technologies and energy-efficient building materials, as well as amenities such as swimming pools and outdoor common areas. Better still, properties can be custom designed to meet individual buyer tastes. NICOLAS VIALE INEUF.com www.ineuf.com Wise Buy Whether you’re buying an investment property, a second home or a future permanent residence, it’s important to take professional advice as to how to best structure property ownership, as well as take on board all tax related implications. Changing the ownership structure at a later stage can be very difficult. Even if you have the necessary funds to buy outright, there may be benefits to having a mortgage. It’s also possible to take an additional mortgage for renovation costs for property you want to upgrade. If you’re considering a permanent move to France - it’s vital to take local, regulated advice; a “financial relocation” is as important as your physical relocation as new taxes and laws will apply to all of your assets and income as soon as you are re-domiciled. PETER BROOKE Spectrum IFA www.spectrum-ifa.com/peter-brooke Rental Rhapsody The holiday rental market in the PACA region has been soaring in the last couple of years with many more property owners opting to accrue an income by renting out their homes for short-term lets. The facilitating factor is the constant stream of tourists which allows for steady demand, especially during peak season. Average annual rental returns after deducting commission and expenses range from €7,000 – 12,000 for a luxury studio through to €18,000 to 40,000 for a detached three-bed villa with pool. Top rental locations include Nice Old Town and the Carre d’Or area, St.Jean Cap Ferrat and Villefranche sur Mer, as well as private homes in Cannes in the Californie and in Super Cannes. MALENA RICHARDSON Sunlight Properties www.sunlightproperties.com Better by Design When looking to buy, don’t be afraid to take on a renovation project. In fact, you are more likely to secure a more interesting place at a favourable price if it hasn’t been updated. And you can put your own stamp on it. Always think about aspect and light. Think about the different times of the day and how bright the space will be. A recent project we undertook in the Rue Bonaparte in Nice is testament to how buying and renovating in the right place at the right time can pay dividends. The property underwent a top-to-toe transformation. But by negotiating a competitive sale price and using clever interior design techniques, we delivered a showcase residence with a 35% uplift in value in under two years. MARK HOWORTH Callender Howorth Interior Design www.callenderhoworth.com
‘Our experience tells us that overseas buyers need a simple plug-and-play solution for all their needs if they want to easily own property and live in France.’ Quality Control If you are considering making structural improvements to your home – always carry out background checks before employing the services of a builder. Ask to see their professional documentation métier card or KBIS – in cases where a métier card does not contain all the information (for example when an artisan has recently expanded his business). A decennial (insurance document) is a further must-have: it’s obligatory for all artisans to carry insurance for personal risk and to guarantee their work for 10 years. You can also check your builder out online at societe.com. This is where all businesses are registered and it details what they are legally registered and allowed to practice. Ask to see current examples of their work and always follow up on references. MARK BEDRICH MB Design and Renovation www.mbdesignrenovation.fr Personal Services One key way of maintaining your property’s value is to employ a concierge or property management agent. Maintenance work that needs the attention of tradesmen can easily become a longdistance headache for overseas owners. Having a concierge in place will ensure that tasks that need doing are flagged early on and services of trusted professionals are secured at a fair price. If you have a flat in a shared residence, a concierge will not only represent you at the annual Syndic General Meeting when decisions are being made about the following year’s building improvements, but they can also verify that your charges are fair and correct. STEPHANE GUILLET-DORION Concierge SVP www.conciergesvp.com Higher Order The dream of finding and living in your new home in France can easily be overshadowed by the frustration of dealing with mounds of paperwork and administration. A paperwork specialist can streamline your move into your new home by managing all the nitty-gritty essentials. Whether it’s setting up utilities, dealing with healthcare options, or renewing insurance cover, every client has different needs. LBS match those individual needs so that clients can enjoy a smooth transition to their new home. TRACY LEONETTI LBS Language and Business Services www.lbsinfrance.com Volume 2 Issue 9 // Abode2 129
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WWW.CARLTON-INTERNATIONAL.COM
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SAINT-TROPEZ FRENCH RIVIERA
Located in the sought after area of « Les Marres », situated halfway between the famous beaches of Pampelonne and the charming centre of Saint Tropez, this superb property benefits from gorgeous views over the sea and the surrounding countryside. Available for sale and for summer rental, this lovely home is ideally suited to the Saint Tropez lifestyle. The villa has modern Provencal architecture providing 440m2 of living area with bright, comfortable spacious rooms. The accommodation includes a double reception room with fireplace, dining room, an independent kitchen with its dining terrace, Master suite and 4 additional bedrooms and bathrooms and dressing rooms. All rooms are bathed in sunlight thanks to large bay windows. An independent bedroom with kitchenette, and a laundry room are intended for staff. Family and guests profit from the vast sun terrace looking over the “mirror” swimming pool with its summer bar and relaxation deck. A few steps lead to the Jacuzzi area with summer lounge and bar. A golf practice area completes this sumptuous property which enjoys complete quiet and total privacy. Ref 5076
FID
U S e t AU DA X
SAINT-TROPEZ +33 (0)4 83 93 53 33
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CHANNEL ISLANDS
Channel Hopping With its gentle climate and tax friendly status the Channel Islands are proving an enticing prospect for investors looking to shelter their fortunes. Serena Templeton reports
T
he home of twinkle-eyed BBC TV detective Bergerac, first time visitors to the Channel Islands often comment on the archipelago’s vintage charms, a quaintly old-fashioned destination yet with much to offer despite its diminutive dimensions. Back in the 60s the destination thrived as a quintessential bucket and spade getaway but the islands have since evolved to embrace a genteel café culture with no shortage of HNW residents putting down roots thanks to a tax friendly regime. “The Channel Islands are internationally recognised as highly reputable jurisdictions and well respected business centres,
ideally positioned for investment,” reflects Advocate Jason Green, Head of Property at Collas Crill. “The combination of an established, tax efficient structure, proximity to the UK, more sunshine and the same time zone and language is also prompting many high net worths to consider the benefits of relocating here both for work and for retirement. The islands are a great environment too to bring up children. And whilst historically, we have seen more retired people moving over, that trend is now starting to change where younger families with their own businesses are looking to relocate.” But while the islands have much in common – property purchase procedures are markedly different for each. Jersey has three broad categories of housing defined under its law: those only available to local residentially-qualified individuals; properties available to the ‘essentially employed’ such as nurses and teachers; and properties available to individuals whose residence in the island ‘can be justified on social or economic grounds’ which effectively equates to HNW individuals. Those who can prove an income of £625,000 – enough to guarantee an annual income tax take of £125,000 – and are thought to be of sufficiently good character will be welcomed with open arms. In Guernsey two major categories of ownership apply - a local market for people who qualify - mostly Guernsey born - and an open market for newcomers. Although there are no restrictions on buying property in Guernsey, there are on occupation. Local Market properties can only be occupied by those who hold local qualifications, while Open Market properties are more widely available.
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Jason Green explains: “The property purchase system on Guernsey is to some extent more streamlined. Open Market properties can be bought by EU passport holders with no other restrictions. There are no thresholds to cross and no lengthy application process. Choice wise there’s also an abundance of open market product for rent and purchase, offering something for almost every discerning individual.” Prices on the Open Market in Guernsey start at around £500,000 for a one bedroom flat, £800,000-£1,200,000 for a three or 4 bedroom town house up to £3,000,000 plus for a substantial home set in its own private grounds. As to the islands’ lifestyle attractions. “The locals are very welcoming, plus people who relocate here also tend to stay for the long-
term,” explains former investment banker Alison Stantonbury who moved to Guernsey six years ago from London. “The cost of living is equivalent to the UK - however some items, such as cars and appliances are generally cheaper due to the lower tax rates. I occasionally get withdrawal symptoms from leaving the hub bub of London – when I do - I book in a ‘top up’ visit and catch up with family and friends.”
FAST FACTS CHANNEL ISLANDS •
The Channel Islands comprise two separate bailiwicks: the Bailiwick of Guernsey and the Bailiwick of Jersey. Like the neighbouring Isle of Man, both owe allegiance to the monarch but are not a part of the United Kingdom nor the European Union and are not subject to EU legislation.The islands retain their own legal system and courts based on common law concepts from French-Norman and English law. They also have their own tax systems, currency and individual parliaments.
•
Jersey is the larger of the two islands, comprising a total area of some 45 square miles, whilst Guernsey comes in at nearer 30 square miles. They have a total population of around 163,000. Situated close to the north coast of France, the islands benefit from their close proximity to the warm waters of the Gulf Stream, offering not only an enviable climate, but also scenic surroundings.
•
Daily flights connect the islands with London and most other mainland airports. There are also regular car ferry links to the UK and into France.
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CHANNEL ISLANDS
Island Idyll With a long-standing reputation for attracting successful companies and individuals to its beautiful shores, Jersey offers the perfect work-life balance combination, says Kevin Lemasney of Locate Jersey
J
ersey is a location for those who want to work in a thriving, international centre of excellence, but who also seek a life beyond the office. In Jersey, the worklife balance really is achievable. Over the past year, the island, which lies in the English Channel just a few miles off the coast of France, has seen a significant rise in the number of professionals considering relocating themselves and their families here. There are good reasons for this. For those requiring a robust and efficient business environment, Jersey’s standing as a top-rated and well-regulated International Finance Centre is absolutely key, whilst being one of the world’s first jurisdictions rolling out gigabit speed fibre connectivity to all residents and businesses is also hugely appealing. The existence of some of the lowest corporate and personal tax rates in the world clearly adds to the overall proposition too.
an island, Jersey is a remarkably well connected place too, with regular flight links to major UK cities and European hubs. In respect of where to live, the range of properties available is as diverse as the Island itself, from luxury waterfront apartments and historic Cod Houses to picturesque granite farmhouses. A thriving cosmopolitan Island with a reputation for being a top-rated international business centre and offering an excellent quality of living, Jersey is an open jurisdiction with a simple relocation process. By blending the benefits of being both a vibrant business centre and a picturesque place to live, Jersey is certainly ticking the boxes of a growing number of successful individuals. For further information contact: Kevin Lemasney, Director of High Value Residency T: + 44 (0)1534 440673 or E: k.lemasney@gov.je
Unparalleled Quality of Life We frequently hear that Jersey’s quality of life presents something of a unique proposition and is a key driver behind business and personal relocation decisions. As well as offering a fantastic business environment, Jersey delivers an exceptional lifestyle and a safe and secure location for families thanks to its high-class education and health systems, a first-class range of restaurants, including four with Michelin Stars, and an abundance of high quality leisure and sporting facilities on the doorstep. In addition, the ability for people to be home, on the beach or in breath-taking countryside within minutes of leaving the office, is a major bonus. Despite being 134 Abode2 // Volume 2 Issue 9
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Jersey. For business. For life.
Beauport Bay on Jersey’s south-west coast: 49° 10’ 43” N, 2° 12’ 28” W
With some of the lowest direct taxes in Europe, in Jersey you can grow and prosper. ✚
Pro-Business
✚
Low Taxation
✚
Quality of Life
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Independent government with a strong and stable economy
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No corporate tax for nonfinancial services businesses
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An enviable work-life balance
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Robust yet pragmatic approach to regulation
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10% corporate tax for financial services businesses
Strong sense of community with an international outlook
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Proactive support for inward investment with aftercare
Beautiful island setting with stunning beaches, coast and countryside
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Extensive leisure and sporting opportunities with an outdoor focus
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Excellent, modern services in education and healthcare
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Jersey ranks as the top offshore finance centre in four independent reviews Skilled, professional workforce
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No capital gains tax
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No inheritance tax
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Low personal tax rates for individuals
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Low stamp duty on property
locatejersey.com Locate Jersey provides free advice and support to you and your business in becoming resident in Jersey. Please contact Kevin Lemasney, Director, High Value Residency +44 (0)7797 783457 or email k.lemasney@gov.je
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CHANNEL ISLANDS
Looking FOR CLUES Abode2 catches up with Channel Islands’ ambassador, Jo Stoddart, Managing Director of Quintessential Relocation and discovers why ‘on the ground’ expertise can make all the difference in the hunt for the ideal home
G
o back just a handful of years and the only people using buying agents were cash-rich, time-poor property investors on the hunt for their second, third or even fourth ‘ideal’ home. These days, it seems having a well-trained pair of eyes and ears to guide you through the purchase process is increasingly common, with home buyers realising the gains to be made from having an expert onside to secure them the house of their dreams. For experienced buying agent Jo Stoddart who has been relocating clients to the islands for many years, welcoming clients into the community and providing a tailored source of information and ongoing support is all part of the service. With a background in estate agency, her inside knowledge of the islands’ property market has proven invaluable in helping many clients make that all important investment decision.
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‘Rather than being driven by the transaction, a buying agent is much more focused on people and relationship building’ What is a Buying Agent?
What are the benefits of using a buying agent?
Sales agents are appointed to sell a property on behalf of a client. Buying agents, on the other hand, represent the best interests of the buyer. Rather than being driven by the transaction, a buying agent is much more focused on people and relationship building. We help with as much or as little as a client requires, including: location advice, property previews, price negotiation and management of conveyancing. We can also assist with the move and recommend reputable removal teams, tradesmen, gardeners, and domestic staff.
A buying agent saves time. Creating a shortlist very quickly will make the most of each viewing trip. It also sends a clear message to sellers that a buyer means business. A buying agent can also open doors and provide instant access to a wealth of knowledge and resources. Rather than being limited to the properties marketed by a few agents, a buying agent will ensure that you have access to all the properties on the market. Finally, market knowledge is vital when looking at comparables and negotiating the best price. A buying agent will negotiate the keenest deal possible and ensure a client doesn’t pay over the odds.
You’ve worked as an estate agent in the past. Why did you switch to becoming a buying agent? As an estate agent I was frustrated that not having the right properties on my books meant that I was unable to help certain buyers. One day a business associate asked for my help to find a home. I realised that working as an independent property finder would genuinely benefit clients and fulfil my desire to see each job through to a positive outcome. Clients would not need to spend hours trawling the internet and view countless unsuitable properties. After all, I have viewed many of the homes already. The knowledge is all safely filed away in my head.
What qualities make a great buying agent? It’s important to invest time to understand your clients and their brief properly. Some buyers may not know exactly what they want, so it’s vital to ask the right questions and find out what is important to them. Equally, a good buying agent needs to be a property expert who is able to discuss the pros and cons of any investment, imparting objective and intelligent market knowledge and local insight.
What about off-market properties? Off-market transactions are on the rise as privacy-conscious sellers become less willing to list their properties for the world to see. Buying agents are often the only route to these properties. We are also likely to know if sellers are using this method to soft-test the property’s value, disguise the length of time it has been for sale or just protecting their privacy by making sure that only “qualified” buyers come to view.
What sort of people use a buying agent? Many different people use a buying agent – it’s certainly not just for the rich and famous. Most clients are short of time and want to ensure they have carried out sensible due diligence before investing in a new area. Some clients need advice on downsizing and others have families where good schools and building a social life are very important. Discretion is another reason. Employing a buying agent to do all the research and initial legwork means that clients’ identities can be kept confidential. On a small island this can prove very useful. www.qrcci.com. Volume 2 Issue 9 // Abode2 137
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CHANNEL ISLANDS
Commercial Leases in Jersey SIMILAR BUT DIFFERENT Leading offshore law firm Mourant Ozannes is seeing an increase in the number of British-based entities looking to invest in commercial property in Jersey. By Georgina Cook, Counsel and Gavin Renault, Head of Property, Jersey at Mourant Ozannes
I
nvestors are often pleased to discover that the terms of Jersey institutional leases appear familiar to them. However, there are some fundamental differences that first-time transactors should be aware of.
Term of lease Leases for a term in excess of nine years must be passed before the Royal Court of Jersey on a Friday afternoon, whereas leases with a term of nine years or less may be completed on any day by the parties executing the lease document itself.
Security of tenure A tenant has no right to remain in commercial premises after the expiry of a lease. There is no equivalent to the Landlord and Tenant Act 1954. If a tenant remains in occupation after expiry of the term and the landlord continues to accept rent or otherwise treat the occupier as tenant, a new tenancy may be deemed to arise on identical terms, save as to guarantors.
Privity of contract Privity of contract has never applied to Jersey leases in the same way that it did in England prior to the Landlord and
‘There is no need to reinvent the wheel when dealing in commercial property in Jersey; much will already be familiar.’ Tenant (Covenants) Act 1995; there is no distinction between pre-1996 ‘old leases’ and post-1996 ‘new leases’. In Jersey, leases generally contain straight-forward alienation provisions in which an assignor is released from its obligations and the assignee assumes such obligations in its place. Guarantors are often similarly replaced. Furthermore, there is no requirement for a Jersey assignor to enter in to an Authorised Guarantee Agreement to guarantee the incoming assignee’s performance of the tenant’s obligations.
Assignment The presumption under English law that a tenant may assign a lease without the consent of the landlord (unless the lease expressly provides otherwise) is reversed in Jersey law. There is also no equivalent to Section 19 of the Landlord and Tenant Act 1927 which implies into any qualified covenant against assignment the obligation of the landlord not to unreasonably
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withhold consent. Jersey leases are interpreted on a strict contractual basis and often require that an assignee be of equivalent financial standing to the assignor and/or provide suitable accounts, guarantors or references.
Specific performance In Jersey, it is only possible to obtain specific performance to grant a lease up to nine years with the remedy for any balance being damages. This contrasts with the English system whereby a Court may order specific performance of an agreement for lease for any term of years.
GST Tenants taking commercial premises on lease may be required to pay Goods and Services Tax (‘GST’ (akin to VAT)) at the standard rate (currently 5%) on rental and any other sums payable under the lease. An exemption is granted to International Service Entities (mainly banks, trust companies and other financial institutions) in which supplies (including those under a lease) made by or to them do not incur GST.
Other taxes Stamp duty on leases is only payable if the term of the lease exceeds nine years and is generally paid by the tenant. There is no capital gains tax in Jersey. Non-resident landlords are taxed at a rate of 20% on rental income derived from Jersey property.
LEASE ESSENTIALS • Use specialist legal advisers at the earliest possible opportunity to provide guidance on any new property matter. • Consider whether to seek a lease of nine years or less (no stamp duty paid or Court attendance required) or a lease of more than nine years. • Take care when agreeing alienation clauses – what is your exit strategy if taking a new lease? If a landlord, consider the strength of the tenant’s covenant and the right to control assignment or sub-letting. • Early tax advice should be taken in order to understand differences between GST and VAT. • Remember, there is no need to reinvent the wheel when dealing in commercial property in Jersey, much will be familiar.
Local expertise. International reputation. Mourant Ozannes is an offshore law firm advising on the laws of the BVI, the Cayman Islands, Guernsey and Jersey. Our clients include many of the world’s leading financial institutions, public companies, corporations and fund promoters as well as high net worth private clients. We are chosen regularly to work alongside the most respected international law firms with whom we enjoy deep and longstanding relationships. In our four jurisdictions, no other offshore law firm has more top tier directory rankings than Mourant Ozannes (Chambers & Partners, IFLR1000, Legal 500, 2014). “Mourant Ozannes is undoubtedly a first choice firm.” Legal 500 “The quality and personal service are exemplary!” Chambers UK “Their service is second to none.” Chambers & Partners
To find out more visit mourantozannes.com
BVI | CAYMAN ISLANDS | GUERNSEY | HONG KONG | JERSEY | LONDON
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ROCK and ROLL ZEN Style icon, designer, serial entrepreneur and earth mother – welcome to the multi-tasking world of Jade Jagger. The million dollar question is - how does she fit it all in? Laura Henderson finds out
©Robert Astley and Sparke
DESIGN & INTERIORS
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tranquillity of Ibiza, buying and restoring a rustic 18th century farmhouse; a home-from-home that she still covets today; “It’s my ‘head space’ retreat,” she adds; the relative anonymity of her surroundings providing much needed freedom to work and just be. While a career in creative design combining jewellery, fashion and fine furnishings has been the bedrock of a successful portfolio lifestyle over the past decade; interiors, she readily admits, remain “an ever-present passion.” Partnered with top London architect Tom Bartlett, and joining forces with John Hitchcox and Philippe Starck, she is a minority shareholder in YOO, now considered one of the most innovative real estate companies in the world. The firm has, to date, developed over 10,000 properties with an estimated turnover of $7bn in 37 countries including Russia, Argentina and Israel. While a string of high-profile projects have kept her
©Robert Astley and Sparke
ade Jagger isn’t one to let the grass grow under her feet. Despite embracing motherhood for the third time last year at the age of 42 – her energy-levels, as she briefs a group of Dictaphone-in-hand journalists about her new, limited-edition jewellery collection, “NeverEnding”, show little sign of waning. Business start-ups are all consuming at the best of times without depleted reserves of shut-eye to contend with – but it’s a hands-full stage of life she seems to be relishing; one that’s brought with it an unexpected interlude of family togetherness as the birth of her son Ray came just a few weeks after her own daughter Assisi’s birth to her first daughter Ezra Key. ‘It was quite peculiar that the pregnancies happened at the same time. I can’t help but have a sense of humour about it. But becoming a grandmother doesn’t faze me or make me feel older. I don’t feel like a grandmother, because the babies are so close in age it almost feels like they are brother and sister. We’re lucky. It’s been really great.’ Jade’s own less than conventional childhood coincided with the halcyon days of the pop art scene in New York. Andy Warhol’s ‘The Factory’ inspired and nurtured Jade’s talent for painting. It was he who famously said, “I love Mick and Bianca, but Jade’s more my speed. I taught her how to colour and she showed me how to play Monopoly. She was four and I was forty-four.” Born in 1971 in Paris, just months after her parents, Stones front man Mick Jagger and model-turned-human rights campaigner Bianca Jagger tied the knot, Jade’s formative years were spent in fashionable Cheyne Walk in Chelsea, before she was whisked away to Manhattan where she settled into big city life. Her secondary schooling back in the UK was followed by the birth of her daughter Assisi Lola Jackson, and Amba Isis Jackson four years later. But motherhood under an increasingly intrusive media spotlight was never going to be workable, so she took the decision to relocate to the chilled
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DESIGN & INTERIORS design talents suitably deployed around the globe, one of her “favourite” projects to date closer to home is that of ‘The Lakes’, a stunning collection of contemporary homes nestling in 650-acres of rural parkland near the pretty Oxfordshire market town of Lechlade. Best described as ‘cutting edgemeets-country-life’ with a healthy dollop of Cotswolds charm; most home buyers are family-orientated city types looking for a trendy weekend base, but word has spread, with demand for something ‘quintessentially English with a twist’ attracting interest from abroad. “The surrounding environment has a huge influence on the design process,” she explains. “And with this particular project, I wanted the natural setting to permeate the interiors, with colour palettes and textures that are both complimentary and sympathetic to the woodland and water features – very subtle and calming.” Acutely aware of the necessity for design practicality because she has “children and dogs”, Jagger is nevertheless quick to mix things up. “Hard-core modernism as a choice of interior can quickly lose its lustre,” she comments. “If you want a living environment with longevity, tempering design extremes help you to achieve that goal.” Equally vociferous about the renaissance in British styling, she adds: “It has definitely changed for the better; design is no longer saved for the ‘privileged few’ it’s no longer elitist – people now have huge access and great interest in how they live, which is how it should be.” Basking in the glow of becoming a mother again, precious family time when not travelling with work is spent with graphic designer husband Adrian Fillary at her farmhouse in Ibiza. Located in the sleepy north side of the island, in San Juan, the property is hinterland cushioned from the party scene and retains a yesteryear charm. “People kept telling me I would ‘get’ Ibiza, but I had all these preconceived notions that it was all about excess,” Jagger recalls. “I didn’t anticipate the natural beauty and carefree, hippy vibe.” The finca, built over 300 years ago, was empty and neglected when she bought it. “It was rather basic, and off the beaten track.” she says. Strict conservation laws limit what can be done to exteriors of traditional dwellings, and its footprint has not changed for centuries. That is not to say that Jagger has not made it her own. Most recently, room layouts have been reconfigured, extra bathrooms installed and the kitchen – fully modernised is now a vision in gleaming copper. Picture windows have also been installed to protect from the searing White Isle summer heat while still embracing the valley views. The result is an inviting bolthole sprinkled with the boho-
JADE’S STYLE RULES Groupings of items or themes really work. It’s also interesting to subvert objects. Change a piece or reinterpret it with an unexpected fabric or finish. That way you avoid safeness. Big bathrooms are great – you spend a lot of “me” time in there, so don’t resign it to a cramped space. Harmony at home is all about expressing yourself through your interiors, so take some risks and have fun doing so. chic accents Jagger is known for. The living room sports low-slung sofas, vibrant accessories showcasing her love of Indian silks and craftsmanship, offset against slipper satin whitewashed walls. The house has a chill-and-play vibe – a nod to the island’s party scene best exampled by the disco balls suspended about the pool. First and foremost a place to unwind; the demands of work still vie for attention. “That’s the trouble with Wi-Fi,” she says. “Once you have it, it’s hard to ignore.” Nonetheless, the house clearly inspires a Zen way of being. She smiles: “Good design can have a serious impact on everyday life, which is why it’s important to stay true to your own individual style – if you can crack it, it can be one of the most liberating feelings in the world.”
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DESIGN & INTERIORS
SMART
THINKING Fascinating wonders of technology are now dominating the modern household. Laura Henderson raises her home’s IQ by delving into a world without wires
T
hink of a smart home and a feverish mind will likely conjure up an image of a futuristic dwelling kitted out with the latest acoustically transparent screen, digital surround sound and Robo dog. It’s a natural association to make-a 21st century environment modelling the latest cutting-edge technology. These days however, it’s not just HNW pads embracing the sci-fi makeover. With design sensitivity and techno know-how evolving at a rapid rate, the converging realities of consumer electronics, broadband networks, digital entertainment and security systems are delivering a mainstream smart-home revolution that was unimaginable a decade ago. A raft of high-tech features, from remote controlled white goods to multi-home entertainment systems are giving homeowners total control of their living space. Many home installations are being creatively ‘retrofitted’ (using existing cabling), but the bedrock of the ‘smart’ revolution is in new-build construction, where architects, developers and owners co-plan a customised fit for a truly integrated easy-to-use system. 146 Abode2 // Volume 2 Issue 9
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What exactly is a smart home? The mistake many people make is to assume ‘smart’ means lots of gizmos and gadgets. In its simplest form, a smart home has had its key systems and devices networked. A central control structure enables the homeowner to communicate with those systems and devices with just the touch of a button, maintaining an optimum living environment, from controlling the lights and cranking up the heating, to playing music and activating the spa bath.
boon - fingertip control allowing you to turn equipment on and off precisely when you need it. Smart technology also comes into its own in the home security arena. Beyond conventional CCTV technology, alarm systems can be set up to work by remote access using network cameras or external lighting sensors. Lighting and blinds can be controlled electronically to create the illusion that people are at home, with ‘holiday’ settings simulating your usual living patterns.
How easy is it to smart proof your home? What are the key elements of SHT? Smart home technology (SHT) has a hierarchy in terms of ‘intelligent’ features, hence the wide range of bolt on additions available to suit varying budgets and house sizes from studio flats to country estates. Design and installation are key, as is having a system that matches individual needs rather than an overly complex set-up that does everything just because it can. Design divides into three essential components - basic infrastructure and the associated technology needed to operate a given system, context specific requirements, which take into account the layout of a home and dictate the most appropriate equipment to install and user specific functions which dictate the system’s configuration. Technology control can be achieved in two ways - via the use of active devices such as control panels and switches - touch screen panels for example to access audio, video and lighting control and passive devices such as sensors and receivers, which function ‘behind the scenes’ to maintain an optimum living environment.
What are the benefits? Smart homes are all about enhancing quality of life, with technology providing convenience and time saving elements at the touch of a button. Smart technology also adds a layer of luxury to leisure time; allowing digital music for example to be streamed to any room, with wired and wireless data networks providing broadband, Internet and telephone connections wherever you want. Energy efficiency is a further
There’s no ‘one size fits all’ solution. Smart convertees are looking at a bespoke service based on the size of property and the complexity of technology installed. Although simple DIY Internet-linked home appliances are hitting the market, transforming basic home wiring into something more useful for a budget of around £2,000, ultra systems that turn your home into a haven of smart technology require the expertise of a specialist ‘smart’ company to install. A budget of around £50,000 will go a long way to fully automating a family home. Upwards of £200,000 and you’ll enjoy a value-added repertoire with specialist server and remote touch panels, which can communicate with heating, lighting, security and highdefinition entertainment systems via wall-mounted interfaces, giving homeowners control over all services anywhere in the home. The most effective and streamlined results however, come before a house is built. This enables all the ‘electrical plumbing’ and services to be fixed in a discreet centralised way within the main building infrastructure. Wireless technology is also becoming a faster and increasingly reliable smart home choice although many specialist companies will still recommend a ‘structured’ cabling approach because it’s robust and expandable and can accommodate a high volume of data. Buyers considering off-plan, can also opt for a ‘future proofed’ home, which accommodates communications, heating, entertainment and security systems in a unified wiring regime, with mainstream developers like Laing, Octagon and Barratt leading the way. Volume 2 Issue 9 // Abode2 147
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JL Abod
DESIGN & INTERIORS
What happens when technology goes wrong? Smart homes use a distributed control system, which means if one part of the house stops working, the system will operate as normal in other rooms. Care should be taken to ensure that devices can be manually overridden - particularly in ‘safety conscious’ zones such as entry and exit points. It’s also possible to have a key system battery back up for use during a power cut.
What does the future have in store? Smart homes are unlikely to want for innovation. Niche-orientated and specialist products today are undoubtedly the high-volume consumer products of tomorrow. But the tipping-point is still some way off, so for now, it’s a case of sampling and enjoying today’s empowering designs. For a taster of tech magic try the Sonos play-bar; a soundbar which allows you to play music from your smartphone, tablet or computer wirelessly, as well as from more than 100,000 free radio stations. Not only that, the gadget connects tidily through to your TV through one single optical cable, meaning films, dramas and music from every library imaginable can be emitted through this one tool. If it’s energy efficiency you’re after, then the Nest Learning Thermostat may prove a canny addition. This hyper intelligent gadget can be controlled from your smart phone and can lower your heating and cooling bills by up to 20%. You can even set it to a completely ‘away’ mode to maximise your savings while you’re enjoying a few day in the sun.
‘The tipping-point is still some way off. For now it’s a case of sampling and enjoying today’s empowering designs’
What kind of features can be installed? A minimum threshold of heating, lighting and security controls is usually installed, although almost anything can be included from the innovative and highly practical to devices that are just plain fun. Intelligent appliances for example are becoming increasingly sophisticated - from microwaves that scan and log the bar codes of food for perfect and even cooking to coffee machines with built-in ‘brewing schedule’ for 6am weekday French Roasts to Decaf Sumatra on Sunday mornings. Other companies are expanding home entertainment possibilities enabling digital music files to be played over the home network, installing video distribution systems with multiple screens, enabling viewers to watch a DVD in one room, pause and resume watching it on an LCD in another. 148 Abode2 // Volume 2 Issue 9
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Abode2
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DESIGN & INTERIORS
FIFTY
Interior architect Susan White creates bespoke homes for her clients – and fires their enthusiasm for design in the process. By Faith Glasgow
SHADES
of WHITE
I
f you’ve ever been seduced by a property’s charming exterior, only to find a warren of dingily lit corridors, cramped rooms and wasted space inside, the chances are you’ve sighed and walked away; the prospect of creating the home you really wanted from such unpromising material just seemed too daunting. But the reality is that if you can afford to remodel the innards of your home, an interior architect such as Susan White will deliver the goods. Her work might involve opening up the unused spaces of a two-bedroom apartment to provide more storage and a bigger living area, or, at the other end of the spectrum, working within the shell of a cavernous Grade II listed property to create a dream family home from scratch. Interior architecture, which involves structural internal projects of up to 18 months, isn’t as well known in the UK as it is in the US; it’s more likely that British homeowners will turn to conventional architectural firms, who may themselves employ specialist interior architects.
“But it’s very different from straight interior design,” stresses Susan. “We need to know about load-bearing walls, staircase design and construction, plumbing considerations and electricals, as well as lighting, fabrics and finishes.” Susan White runs Iggi Interior Design from rural Surrey, though her clientele is largely based in prime central London. But she came to the business via a circuitous route, abandoning a university course in criminal law to wangle her way into a placement alongside her sister, a set designer at Shepperton Studios – work that she found she loved. To take her design aspirations further, she took a foundation course and an interior architecture degree, and in due course set up her own businesses – Phoenix, focusing on designing show homes, and Iggi, which takes on top-end architectural projects for private clients. It’s clearly a tremendous balancing act to work very closely with wealthy clients – who many cases aren’t entirely sure what they want at the outset – as well as with architects, landscape designers, plumbers, lighting designers and all the other
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contractors involved in these complex undertakings. What’s the single most important factor in the whole process? “Listening to the client and getting the brief right,” replies Susan unhesitatingly. “For instance, a lot of people say they want a contemporary look, but when we do the research and show them some ideas it becomes clear that they have more of a classic contemporary image in mind.” A lot of work therefore goes into establishing the brief, taking into consideration not only the style but the parameters of the job – the presence of kids, pets or staff; room, space and lighting requirements, and of course the budget. “Our job is about dividing the space and getting the use of light right, according to the brief,” she explains. “It’s not location, location, location for us – it’s brief, brief, brief. Listening to the client is the most important thing.” She gives the example of a recent job in St John’s Wood, involving the creation of a spectacular family home in a 10,000 sqft Grade II listed house for a New York client. “They are art collectors and have a lot of one-off pieces of designer furniture,
but they also have four boys under 15 and a dog, so it had to be practical as well as fabulous.” The end result is a clean, cool, contemporary environment full of light, the monochrome white and grey punctuated by scattered explosions of vibrant multi-colour artworks and luxurious textiles. But the floors are tiled in a hardwearing cement-like tile sourced by Susan from Germany, while the back garden has been dog- and football-proofed with sturdy Astroturf. She carried out a smaller job on a two-bedroom serviced apartment in Hampstead, less radically contemporary (‘a classic Four Seasons hotel brief ’) but equally challenging, not least because of the swift six-month turnaround required from initial commission to completion. The brief was to reconfigure the space, and particularly a large and wasteful entrance hall, so as to provide more space where it was needed – for a kitchen/family room and an extra ensuite bathroom – and get more light into the darker parts of the apartment. “The clients lived in Athens, and made four visits of three days each. We got it all signed off in that time. But again, he knew just want he wanted, which made it very easy to get to grips with.” Susan’s own taste is for the cutting edge, and she is always on the lookout for new ideas. “I like anything brand-new, so I go to a lot of overseas shows and manipulate ideas for the UK market. For instance, I’ll use different mediums such as Perspex or crystal wall finishes.” Indeed, a steady stream of good ideas is vital, given that each interior she creates is unique. “We never try to keep up with the Joneses, and we never duplicate,” she stresses. Susan’s enthusiasm for her job is clearly infectious. Not only does she scour Europe and beyond for inspiration, but she persuades the clients to come with her to the exhibitions, “so they can get excited about it with us”. And it works: “Most end up wanting to be interior designers by the end of the project...” Volume 2 Issue 9 // Abode2 151
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DESIGN & INTERIORS
Bespoke Beauty A commitment to quality and ground breaking design, have cemented Bisque as the UK’s leading designer radiator company. James Matthews discovers how sophisticated heating solutions can add style to any room in your home
F
or over thirty-five years Bisque has been at the forefront of British radiator design. In that time the company has helped transform the humble radiator from a purely functional item into a sophisticated design statement that transforms any room. Bisque offers beautiful yet practical radiators in a diverse range of styles, colours and shapes. From bold, bright pieces to sleek, space-saving designs, the company offers more than 40 different models in thousands of sizes, colours and finishes, with a bespoke colour-matching service, which allows customers to pair their chosen design to existing interiors. Having been voted one of The Observer newspaper’s Cool Brands three years in a row, Bisque’s models continue to be built
according to the ‘four Ps’ – pedigree, proportion, purity and performance. Radiators are crafted with unerring attention to detail, with the very highest quality materials used, to combine style with considered design. The company was first established back in 1979, when a colourful sample radiator was placed in a shop window in North West London (now Bisque’s flagship showroom). Bisque also has a showroom in Bath, as well as a number of select dealers up and down the country. The company has also created a wealth of aids and resources for customers to guide them through the purchasing process. Customers can take advantage of useful tools such as Bisque’s innovative ‘heat loss calculator’ – by inputting information such as the room size and window style, it will calculate the exact requirement for the chosen room. Ever conscious of the changing consumer landscape, Bisque has championed more eco-friendly radiators such as the aluminium Blok, Svelte and Tetro. Made from recycled aluminium and offering much more in terms of energy efficiency than traditional cast iron models, the range represents a move towards reducing the carbon footprint of heating solutions. One of Bisque’s greatest achievements has been to champion the towel radiator, which was virtually unheard of 35 years ago. Other popular models include the Classic; a sleek update of an old school favourite; the Archibald, winner of the 2006 design boom radiator competition, created exclusively for Bisque by Italian designer Leo Salzedo; and the Arteplano, a unique design etched individually with acid. Bisque also offers a range of accessories and valves, made from premium materials and of the same superb quality as the radiators themselves.
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“Our aim is to be a centre of design excellence with a second-to-none service and to create beautiful, distinctive homes for our clients.” The Jenny Blanc design studio is wellknown for designing elegant, comfortable homes. Jenny is always personally involved in each project and prides herself on listening to and interpreting her client’s wishes to give them the home they have always wanted.
on the best, most suitable furnishings for a tropical climate. Jenny Blanc and her experienced team create bright, relaxing, award-winning holiday homes and offer a complete service travelling between the Barbados office and the design base in west London.
The company’s work for clients in the UK has led to them being commissioned to work on holiday villas in exclusive areas of the Caribbean. At the forefront is an understanding of how their clients wish to enjoy their second homes and relax on holiday.
Two inspirational lifestyle showrooms, one in West London and one in Barbados showcase the company’s design work and offer an abundance of original, tantalising pieces. The Barbados showroom is a superb resource for everything you could possibly need for your second home from soft, luxurious towels, stylish cutlery to those key signature pieces that personalise each interior.
The Barbados office opened 11 years ago and has developed specialist expertise
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DESTINATION USA
Sunshine State of Mind The foreign love affair with Florida continues to surge. So where are buyers heading? Serena Templeton reports
W
hile other US States lay claim to successfully attracting foreign buyers, few have yet to enter Florida’s league. In 2014 the Sunshine State scooped 24% of all international home purchases in the US; traffic largely attributed to the State’s rich macro-environment which is extremely attractive for long-term investors, according to Maria Wells of the Florida Realtors Association. “Rental yields are running at about 9%, but the real return is from capital growth, with hard-core investors getting steady, strong appreciation. Inventory choice is also unrivalled with everything from gated communities to waterfront living and modern condominiums; the notable difference being an upsurge in demand for resort property where families have access to a raft of tailored on-site facilities in a home-from-home community environment.” 154 Abode2 // Volume 2 Issue 9
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TOP INVESTMENT SPOTS Charlotte Harbour and Gulf Islands Nestling between Tampa and Naples and home to the second largest harbour in the States, improved international air links to Fort Myers bolstered by competitively priced property have fuelled real estate growth in scenic Charlotte Harbour. Voted by Money Magazine as the best place to live in south Florida, the area boasts one of the largest protected marine estuaries in the world, white sandy beaches around Englewood and Manasota Key and a slice of upper crust cachet on Gasparilla Island. The community of Rotonda has homed in on the hispec golf course market, with land subdivisions including Rotonda Lakes and Long Marsh now being built out for home sites. “Buyers to date are largely from Canada, the US and Germany,” adds Frank Sakalosky of agents Michael Saunders, “with building lots overlooking freshwater canals, golf courses or preserves. Many are just under a quarter of an acre in size, which is generous compared to modern developments, with an average house price coming in around the US$300,000 mark.” Short-term rental restrictions are also few and far between. “A three-bed family villa with private pool can net in the region of US$2,000-2,500 per week,” confirms Sakalosky.
Naples The Gulf Coast enjoyed gains of 12-16% in the latter part of 2014, the loftiest prices being asked in Naples with few locations more prized than the city’s canal-carved Port Royal and the beach-bordered Gordon Drive where a land-locked detached home will set you back upwards of US$5.4million and an extra US$15million just for a water view; prices that real estate entrepreneur Barron Gift Collier could only have dreamed of when he settled there in the 1920s and become the largest landowner in the region. Downtown Naples is still a subtropical, genteel playground for millionaire retirees, but the area’s profile is moving with the times to penetrate younger markets. Developers catering to the new influx of 30-something ‘value conscious’ buyers are moving outward to less expensive land, where the same quality home can be snapped up for a fraction of the price. “Resort communities are now selling east of main 1-75 motorway as far north as Fort Myers and south towards Marco Island,” says Wendy Jensen of Boca Executive Realty. “Many of the established developments have already experienced rapid appreciation and are slowly adjusting to the area rate with an average house coming in around the US$795,000 mark.”
Fort Lauderdale Criss-crossed by canals, creeks and rivers and boasting over 300 miles of navigable waterways, Fort Lauderdale’s renaissance unofficially began a little over a decade ago with the revitalisation of Las Olas Boulevard, the city’s hub of hip. This former quaint district of small shops has exploded into a lively downtown village, with upscale restaurants, designer
boutiques and urban chic property taking hold. “The market has changed greatly from this time last year,” says Rob Rose of Rob Rose Real Estate. “Mixed-use projects-combining high-rises, luxury townhouses and commercial space are the most prominent real estate trend, driven by a conscientious city government keen to ensure efficient use and sympathetic restoration of existing downtown residences.” Part of a master planned development at the heart of Fort Lauderdale – Ocean Land Investments is marketing Acqua Vita Las Olas, 22 luxury waterfront residences with boat slips, access to a fitness studio, heated pool and water taxi service. One to three bedroom apartments and deluxe penthouse units have large balconies, vaulted ceilings and king size baths. Prices for a one-bed apartment start from US$995,000 rising to US$2,284,800 for a three-bed.
Miami The place to watch the world go by, Miami epitomises the ‘anything goes’ philosophy. The last few years have seen an influx of design-conscious hoteliers breathing new life into neglected Art Deco buildings, with tasteful pockets of construction a telltale sign that the real estate sector means business. Property prices range from the affordable to the stellar, a quality apartment in a good area setting you back upwards of US$1m but more than likely offering great views due to the Miami obsession with high rises. On a wow-factor scale and designed by award-winning architects Foster and Partners, Faena House is an extraordinary, 18-story oceanfront luxury condominium situated on the widest stretch of white sand in all of Miami Beach – bounded by the Atlantic Ocean to the east and Collins Avenue to the west. Envisioned by Alan Faena, the project is a vision of true indoor-outdoor living – with breakthrough architectural advances allowing panoramic views from ocean to bay with glass walls. Property prices range from US$5million to US$50million. Volume 2 Issue 9 // Abode2 155
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Own. Vacation. Rent. Repeat.
Encore Resort Homes at Reunion is literally next door to the number one tourist attraction in the world. That means that buying one of our vacation homes not only gives you a prime location to enjoy all that Orlando has to offer, but it gives you a built-in market to rent your home when you’re away.
5–13 bedroom resort homes from the mid $300s (US) Orlando, Florida, USA EncoreResortHomes.com 407-396-9000
All amenities, features and facilities described herein are proposed based upon current development plans, which plans are subject to change without notice, and there is no guarantee that said amenities, features and facilities will be provided, or, if provided, will be of the same type, size or nature as described. These materials are not intended to and shall not constitute an offer to sell nor a solicitation of offers to buy or lease real estate at Encore Resort Homes at Reunion by residents of Connecticut, New York, New Jersey and in any jurisdiction where prior registration, license or advance qualification is required but not yet completed or where otherwise prohibited by law. Void where prohibited by law. Renderings contained are based on the current development plans, are conceptual only, and are for the convenience of reference. They should not be relied upon as representations, express or implied, of the final detail, and are subject to change without notice. CBC License Number: CBC 1255355
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Abode2
The one in Fort Lauderdale they’re all talking about.
Riva is the new riverfront condo that every agent who sells luxury has at the top of their list. And every buyer who wants to live on the water has squarely in their sights. With over $55 million in sales, Riva is already the most successful new prestige address in town. And with exceptionally large 2 and 3 bedroom models from $700,000 to over $3 million, it has the answer for everyone who wants to live right on the water. And above it. Visit our waterfront sales gallery just north of Sunrise, across the river from Galleria and the park. Entrance drive at 1180 N. Federal Hwy. +1.954.233.3288 riva-condo.com.
La Dolce Vita Where the River Meets the Park.
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RESIDENCES DESIGNED for LIFE
Exclusive Sales Agents: Premier Sales Group, Inc. and ONE Sotheby’s International Realty. The Ritz-Carlton Residences, Miami Beach are not owned, developed or sold by The Ritz-Carlton Hotel Company, L.L.C. or its affiliates (“Ritz-Carlton”). 4701 North Meridian, L.L.C. uses The Ritz-Carlton marks under a license from Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein. This graphic is an “artist’s rendering” and is for conceptual purposes only. THIS OFFERING IS MADE ONLY BY THE OFFERING DOCUMENTS FOR THE CONDOMINIUM AND NO STATEMENT SHOULD BE RELIED UPON IF NOT MADE IN THE OFFERING DOCUMENTS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH OFFER OR SOLICITATION CANNOT BE MADE.
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A Limited Collection of Exquisite Condominium Residences. Designed by Piero Lissoni. Priced from $2 Million to $40 Million. On-Site Sales Gallery Open Daily. 4701 North Meridian Avenue, Miami Beach For a Private Appointment Please Call 888-696-5543 TheResidencesMiamiBeach.com
PRICES, PLANS AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, REFERENCE SHOULD BE MADE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.
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LUXURY RENTALS
Rental Rhapsody Vacation rentals can offer the best of both worlds – deluxe accommodation with poolside pampering minus the crowds. So how do you find the best property for you? Concierge guru to the stars Anthony Samuels reveals all
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he old adage “you can’t please all of the people all of the time” has more than a hint of truth to it, with perhaps one notable exception – finding the perfect rental property. For visitors eyeing up the copious bounty of accommodation options, finding something to suit both taste and budget is unlikely to be an issue, with everything from super-size-me beachfront villas to concierge serviced apartments to choose from. Location and size may determine the price, but a property’s home-spun attributes also figure highly in the pick ‘n’ mix equation. So how do you find the perfect home-from-home?
Get online Review top ranking rental websites and get a feel for location choices, price points and property styles. The most helpful listings will not only provide ‘in depth’ details of the property, but additional information on the surrounding
Start looking early A year in advance isn’t too soon, particularly if you’re interested in peak season rentals over Xmas and New Year. Holidaymakers will often book the same house for the following year, so if you have your eye on a particular property, get your pitch in early. 160 Abode2 // Volume 2 Issue 9
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secluded spaces outdoors allow people to roam and relax away from the group.
Focus on facilities Keeping your guests entertained, not to mention comfortable, is a given. In warmer climes - a fabulous pool and shady lounge areas will go a long way to making lazy days memorable. Stereo and entertainment systems, hot tubs, fireplaces, indoor and outdoor games for kids (and adults), all contribute to an enhanced experience. Think daybeds and hammocks overlooking scenic views with a glass of chilled rosé in hand… area, such as places of interest and recommended restaurants. Take time to view interior and exterior shots and scrutinise property descriptions to see what is provided by way of ‘extras’ – satellite TV, jacuzzi, and beach/sports equipment.
Choose your location wisely Consider the full implications of where you plan to stay. Beachfront locations tend to command a higher price and can be considerably hotter peak season than a less expensive hillside retreat with cooling breezes. Draw up a list of what’s important to you and flag up priorities when you talk to the agent or owner.
Check service levels Rent direct and you run the risk of not having a responsive owner during your stay. If a problem develops, they may be thousands of miles away and not equipped to help. Agents, by contrast, are primed and ready to handle most rental misdemeanours from faulty plumbing to leaky roofs. Chances are you won’t want to be the one churning out those chilled margaritas all day either. Your private and potentially out of the way rental property should nonetheless include the option for staff including a cleaner, while a private chef is all but necessary. Save the barbeque for another day and set yourself up with a top quality chef (sourced by the rental owners) for that special day.
Consider agents versus owners Going through a reputable agency gives you an assurance of quality that the property has been vetted. Local agencies invariably have ‘hands on’ knowledge of homes on their books, enabling you to compare and contrast a variety of options in one fell swoop.
Make privacy and priority You’ll need enough space so as not to disturb neighbours with your holiday revelry and enough privacy on the property so you and your guests can sneak off for a little quiet time. A separate lounge area or snug, as well as
Think outside the box Casting your net wider for holiday inspiration can pay dividends, especially if you’re considering a ‘dual location’ rental. Stephen Grant, MD of Worldwide Dream Villas based in Barbados (www.worldwidedreamvillas.com) says: “We have clients who use the island as a stepping stone to explore other Caribbean hotspots such as St Barths, Antigua and Grenada. Rentals can work supremely well in this respect, with shorter stays easy to book and competitive prices into the bargain. Yacht charters can also be arranged for that extra night away with five-star oomph.” Volume 2 Issue 9 // Abode2 161
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LUXURY RETREATS
DESERT
Zen
One of the hottest global holiday destinations, Marrakech’s boutique hotel retreats are luring five-star travellers in search of holiday karma. Laura Henderson reports
P
eppered with Kasbahs and bustling bazaars, most visitors to the ochre-hued city of Marrakech rarely venture beyond the hustle and bustle of the Medina, let alone savour the Zen-like tranquillity of the suburbs or explore the lush green Ourika Valley in the foothills of the Atlas Mountains. But aspirations and expectations are changing fast, thanks to the growing portfolio of exclusive retreats offering visitors an authentic oasis experience just a heartbeat away from the city’s attractions. Anyone who’s been back to Marrakech after a several year absence might have difficulty recognising the place. The most noticeable change has to be the proliferation of five-star hotel and luxury boutique spa accommodation now available – a growth spurt linked to the government’s Vision 2020 tourism agenda which aims to double visitor numbers in six years to 20m. For visitors, it presents an embarrassment of ‘where to stay’ riches with difficult decisions on which option to pick. Abode2 have cherry-picked two wickedly indulgent choices: 162 Abode2 // Volume 2 Issue 9
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“The calm and hushed atmosphere, the lush garden and the beautiful architecture, with all its breathtaking details. In all respects this is a garden of Eden” LES DEUX TOURS Ensconced in three hectares of Andalusian-inspired gardens amidst the verdant groves of Marrakech’s Palmeraie, Les Deux Tours comes with a ‘serenity guaranteed’ preservation order. Originally built in 1991 as a small Arabesque village, the homestead and park were turned into a unique hotel in 2008 by the internationally acclaimed French architect Charles Boccara who also designed the Tichka Hotel and the Marrakech Opera House. Still owned by his family today, the designer-owner partnership has worked an eclectic architectural design palette to impressive effect: Middle Eastern and Moorish themes offset by Andalusian and Persian accents, best exampled by the delightful arcades and domes and open-sky courtyards. The gardens are a feast for the senses – giant Royal palms, citrus orchards, fig trees and olive groves, while the soothing sound of water cocoons individual living spaces; the rippling fountain entrance way setting the tranquil tone through to the network of water features and cascades, culminating in the palm flanked cobalt piscine which dominates the central courtyard. Hammocks, four poster beds under the trees, any number of terraces lead off the main building all with with cream calico covered sofa and chairs, swings hanging from trees, a lovely pergola-shaded outdoor dining terrace, a kitchen garden with tables and chairs in shaded spots with loungers and rattan chairs under parasols. Room décor follows a similarly muted, minimalist theme to display the handsome inlaid décor to best effect, whether it’s a tartari ceiling, bejmat tiles, a stone fireplace, or restored antique Moroccan furnishing. White linen sheets and embroidered throws adorn the beds, en-suite dressing rooms sport hand-carved clothes rails and shelving, while the bathrooms are positively iridescent with their bespoke finishings and satin tadelakt walls. Every suite has a patio area or terrace, so if trundling to the pool for a dip sounds too much like hard work, you can relax in the privacy of your very own garden.
Executive Chef Hamza Afquir is known for cooking the best lamb tagine in Marrakech. At Les Deux Tours’ Le Salammbô, he takes pleasure in using the garden’s vegetables and herbs in his Moroccan and French-inspired cooking. The restaurant is a decadent space with pink marble walls and a huge, chandelier-hung vaulted ceiling. The hotel also has a relaxed open-air eatery by the pool serving a seasonal barbecue buffet and a light healthy lunch menu. www.les-deux-tours.com
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LUXURY RETREATS
TIGMIZA Intimate, oh so quiet and about as far removed from the kaleidoscope of colours, sights, fragrances and bustle that envelops you in the Medina, the peeling away of life’s stressful layers begins as soon as you venture beyond Tigmiza’s imposing entrance gates. Nestled in the greenery
of the Palmeraie, this luscious 5-star retreat rises out of the palm groves like a Kasbah; its hide-out collection of suites, chalets and villas offering guests a cocooned retreat with a generous sprinkling of laid-back luxe. The property is very much a family affair. A five-year development and renovation project undertaken by parents and offspring has coaxed this enchanting property back to life with a brand new personality. Design accents mesh several influences; from the decadent black and gold baroque ambiance of Diversity, reminiscent of a Raj palace to the more modern Green Art Deco suite; each room has been custom decorated with objets d’art from the four corners of the world. Exquisite tiled courtyards lead to a serene pool area, where chaises longues are shaded by palm trees. Each corner of the estate has been crafted with style to evoke a sense of place; flowered patios with fountains, leading to galleries with chiselled plaster archways, hand-woven Berber carpets, camel-bone mirrors, filigree iron work and fine wood used to make the intricate carved furniture and the iridescent colours of the decoration are so harmonious that they create an elegant setting in a refined, calm atmosphere. The English Bar has been created with pieces of the original La Mamounia Bar where Churchill was a frequent drinker, salvaged when the famous hotel underwent a facelift in 2009. The Spa dazzles in a mint hue and offers guests the
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‘Light and silence still reign supreme in this hideaway retreat. Venture inside and the unwinding begins.’ obligatory Moroccan Hammam experience, with the added pamper draw of a state of-the-art beauty, massage and fitness centre. And then there are the dining options: the Moroccan Room, the Pool Bar, the Dining Room, The Maasai and The Terrace. Foodies are in for a treat with a refined medley of local and Mediterranean cuisine. Breakfast is a healthy, yet spoiled-for-choice affair from the fresh-baked flatbreads, sweetmeats and home-made yoghurt to the melt-in-themouth omelettes filled with fresh peppers and succulent tomatoes. For bon viveurs with a moreish appetite, a traditional
Moroccan tasting menu can be sampled at Lallati - each delectable course presented with a suitably apposite glass of wine. Better still meals can be enjoyed wherever you like, lunch around the pool or a candlelit dinner under the stars in one of the secluded courtyards. Ultimately however, what guests are likely to remember is Tigmiza’s cocoon-like atmosphere - whether you’re soaking up the full bloom scents from the garden, admiring the High Atlas snow caps and palm grove from the Sky Bar or sipping a cup of freshly infused mint tea in your kaftan; few places in the world come close for bespoke serenity. www.hotel-tigmiza-marrakech.co.uk
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CARIBBEAN RETREATS
Swapping Skyscrapers for Sea and Sand David Cooney and Jonathan Hughes of leading international law firm, Ogier, assess the new trend in tax efficient and lifestyle motivated relocations
T
here was a time when a company in a high tax jurisdiction could switch its legal headquarters to a low tax jurisdiction and, in doing so, cut its tax bill. Changes to the domestic tax regimes of most developed economies have reduced these opportunities, so what has taken the place of this planning? Over the last decade there has been a surge in tax efficient and lifestyle motivated relocations. Whilst domestic tax laws often remove the tax advantages of switching the location of a company, there are still significant benefits to be obtained where the ultimate owner of a company, particularly one operating internationally, physically relocates from a high tax jurisdiction to a tax efficient jurisdiction. International law firm Ogier, with offices in the British Virgin Islands, the Cayman Islands, Guernsey, Hong Kong, Jersey, Luxembourg, Shanghai and Tokyo, is active in this growing field. The company has seen a lot of movement from the high tax European countries to the Caribbean, and particularly to the Cayman Islands. When clients realise that they can move to a well-developed island with beautiful sandy beaches, year round sun, and good daily connections to the US, and save a considerable amount of tax in the process, they’re usually sold on the idea. The process of internationally relocating starts with an assessment of where to go. This deceptively simple question requires detailed consideration. It’s vital to know where you can potentially go, and how you might acquire rights to live and/or work there. If relocating with family, it’s important to
understand how easy it is for them to accompany you. Once you arrive in your new home, how easy is it to buy a house, or start a business? What is the education system like? How’s the healthcare? On the tax front, you will need to understand how the move impacts on your overall tax and reporting obligations. Are there any local taxes that you need to consider? Ogier’s Jersey office helps ultra-high net worth clients relocate to Jersey. Aside from the application process to secure residency in Jersey, one of the first steps is often finding and buying the right house. Everything else follows suit. Ogier can help with the property purchase process, and is well placed to advise on the wider personal and business legal implications of the move, including helping clients to make those essential ‘settling-in’ connections. If the idea of swapping skyscrapers for sea and sand appeals to you, now could be time to start looking at options.
WHAT TO LOOK FOR WHEN RELOCATING • • • • •
What tax rates apply? Are there any restrictions on property ownership? What are the options for residence? Can dependent relatives relocate? How long do you need to spend there each year to retain the rights of residence?
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R E L O C AT I N G O F F S H O R E
Idyllic
Finding a location that offers the very best tax advantages might be your driving force, but choosing a jurisdiction that is to become your home is about much more. The key is to settle somewhere that works for your wealth but, first and foremost, works for you and your family too. The British Virgin Islands, Cayman Islands, Guernsey and Jersey are independent, low or no tax jurisdictions. They are cosmopolitan islands that offer a beautiful, secure place to live with traditional values sitting at the very heart of our contemporary lifestyles. Respect and privacy are enjoyed. Business and leisure opportunities abound, the schools are superb and the health services on these islands are first class.
International Law Firm of the Year
Ogier Contacts For more information about relocating offshore please contact: David Cooney Partner - High Net Worth Relocation Asia and Caribbean +1 345 815 1851
ogier.com
Jonathan Hughes Partner - High Net Worth Relocation Europe
Private Client and Trusts Law Firm of the Year 2014 in Cayman and Guernsey
+44 1534 504111
British Virgin Islands | Cayman Islands Guernsey | Hong Kong | Jersey Luxembourg | Shanghai | Tokyo
Information on the Ogier Group and details of its regulators can be accessed via our website www.ogier.com.
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CARIBBEAN RETREATS
TREASURE ISLANDS Tax incentives and a sun-kissed lifestyle are making buying in the Caribbean an increasingly attractive second-home proposition. Stevie King visits three tropical escapes stepping up their game St Lucia
Turks and Caicos
On an island historically dominated by all-inclusive brands, St Lucia’s move into the premium echelons of residential tourism with a coterie of new five-star resorts shows just how far the island has come in recent years in its bid to become the Caribbean’s new hot spot for HNW second-homers. Big on tropical greenery and marina life, the island doesn’t boast the same beach inventory as some of the other Caribbean havens. Yet it’s this unadulterated topography: the primeval Piton peaks, rising out of the sea like daggers, and the cosy, drop-anchor harbours, that sets it apart. Tourism, while a dominant force in the economy (currently accounting for 45% of GDP) hasn’t always been so prevalent. Until the early 1990s, banana production was the island’s primary source of income, but with globalisation and subsidy cutbacks in the European market, revenue from the ‘green gold’ industry has dwindled away, with the St. Lucian government stepping in to fill the gap with a raft of investment sweeteners aimed at attracting new sector interest, with residential tourism leading the way. Buyers in the market for a beachfront pad will find two distinct investment locations vying for attention – the more developed northerly coastal reaches around Rodney Bay Marina and vintage capital Castries and the quieter south around Soufriere. To date, property values in the north have had the edge over their southern counterparts with more demand for resales. Existing properties on resort developments in Marigot Bay south of Castries, for example, have doubled in value the last six years, with new developments tipped to rise by 8-10% a year. Personal tax incentives are attractive too with no VAT, capital gains tax, inheritance tax or estate tax to consider. Investment projects stealing the limelight include the exclusive Mount du Cap Estate where bespoke build three-bed villas are selling for US$2.5m and Sugar Beach Resort with turnkey residences with views of the Pitons from US$2.75m.
One of the fastest-growing markets in the Caribbean, this British Overseas Territory 500 miles southeast of Miami, consists of 40 islands and cays, yet is home to just 30,000 yearround residents. Comprising two archipelagos: Providenciales, one of the Caicos, boasts the islands’ largest airport and is the only real tourist ‘hub’. A diminutive 38 square miles, island infrastructure is continually being upgraded including the expansion of the international airport; the magnificent coast sporting a growing yet still limited number of handsome resorts and villas concentrated on the north shore, overlooking the beautiful and aptly named Grace Bay. “The Islands have seen an impressive recovery since 2009,” explains Robert Greenwood, president of the Turks and Caicos Real Estate Association. “In conjunction with residential growth, development opportunities have returned with new luxury projects in the planning stages and pre-construction sales again in our inventory.” Scarcity in certain areas of the
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market also appears to be driving up values, particularly among well-designed, quality beachfront property. Turnkey condos with excellent rental potential can be picked up for US$650,000 through to luxury beachfront villas from US$2.5million. A rigorous legal framework for property investment also ensures clean title when buying. “We have no property or income tax,” adds Greenwood. “There is, however, a one-time stamp duty that is paid at the time of purchase. As a British protectorate, under British common law, when your name is on the deed, ownership of property is guaranteed.”
Cayman Islands A late to the party destination when it comes to residential tourism – the Cayman Islands only featured on the investor map in the late 70s, but have wasted little time since, building up their getaway reputation. Grand Cayman now the largest and liveliest of the three-island archipelago is home to lively Seven-Mile Beach, the honey-pot for expatriate second-home buyers where prices average to around US$1,000 per square foot. A community that enjoys the highest income per capita in the Caribbean and arguably the highest standard of living, one of the destination’s key investment draws is the streamlined process for foreign ownership. “We have a small population of around 60,000, and about half of those are foreigners on work permits or retirees from all over the world,” explains Donnie Smith of Cayman Fidelity Real Estate. “The Islands’ rules for international transactions are therefore tailored to attract high foreign business spend. There’s no income tax, property tax, or capital gains tax. Property title can also go into your own personal name or a company name.” Property demand of late is surging. Real estate transactions confirm CIREBA, the Cayman Islands largest property portal, rose by 45% in the first half of 2014 from the previous year. New product is also helping to fuel investor interest.
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Among the luxurious offerings is über-trendy Watercolours on Seven Mile Beach with units priced from US$3.9 million. Situated in the sought-after residential community of Crystal Harbour at Mitchell’s Creek on Grand Cayman; luxury marina development Cypress Pointe North has 38 apartments and villas priced from US$395,000 to US$1.8 million.
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CARIBBEAN RETREATS
SUNNY Side Up
Stevie King talks to award-winning architect Ron Shaw and discovers why the Turks and Caicos Islands hit the spot for a totally tropical second-home
O
nce the domain of celebrities, intrepid explorers, and eccentric trust-funders, the Turks and Caicos Islands are now more accessible than ever. Eight of the 40 islands are inhabited year-round, although thanks to a respectful approach to development - many are so sparsely populated that much of the year you may feel like the only beachcombing escapee present. Providenciales, the most well-known of the islands, and the centre for tourism and business, is home to the international airport which receives daily direct flights from many keynote cities in the States as well as a regular direct flight from Heathrow. Just a 90-minute hop from Miami, Provo, is an idyllic spot for a sun-kissed vacation. But it’s an even better location for a holiday home; because the real secret to enjoying paradise is knowing you don’t have to leave after your vacation ends. Ron Shaw knows this better than anyone. Shaw and his wife Karen made their home in the Turks and Caicos in 1996, building up a successful architectural practice, RA Shaw Designs, on Providenciales. The business has since expanded to several other tropical hot spots in the Caribbean but despite being a veteran globetrotter, Ron maintains his home and business base on the islands, and understands why so many of his clients choose to build their dream holiday home there: “The lifestyle is so familiar and personal,” he reflects. “When you fly back to Provo and you catch that first glimpse of paradise out of the window, it’s more than coming home. It’s like the island is part of your soul.”
A pristine location aside, adds Shaw - the best perk about a owning a home on the island is the investment potential: “Not only are property values on a steady upward trajectory, the short-term rental market is booming too.” Managed properly, buying here can bring very attractive returns, with the added benefit of generous personal use. Moreover, there are no on-island capitals gains, property or income taxes to pay.” Shaw’s recommendataion before purchasing land is to seek advice on potential sites from someone with a track record who has lived and designed on the islands: “Check out available sites thoroughly. Each shore of Provo is dramatically different. An experienced designer can quickly assess the differences and point out the benefits of particular locations and how they may suit clients’ ideals.”
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CASCADE VILLA Designed by RA Shaw Designs Ltd and available for short term rentals - Cascade is a stunning new build villa located on Babalua Beach, Providenciales. This grand estate features one of the island’s most impressive private pools, with the first level of sunny and shaded crystal waters cascading into the pool below. No need to draw straws either for rooms; all 6 deluxe suites boast King-size beds, outdoor showers, and private sun terraces with endless views of the crystal clear blue sea. Cascade is impeccably designed and decorated - the furnished kitchen and outdoor grill with wet bar providing ample space to prepare those al fresco seafood dishes. For rental information go to http://www.tcvillas.com/prop/cascade/
DESIGN IN MIND What portfolio of services do you provide to private clients? RA Shaw Designs Ltd has been offering a full architectural design service since 1998. We realise that the most efficient way to deliver quality construction in a timely fashion in such a small constituency, is to have complete control of the build process. I acquired a General Contractors licence and formed Design Build Associates Ltd. Today, we build 95% of what we design. In addition, we have a multi-talented staff that allows us to offer interior design and provisioning services as well. The majority of our projects include 360 degree interior design and decoration, right down to the touchpoint details of furniture, artwork and accessories. The majority of our clients don’t live full-time on the islands and so it’s easy to become overwhelmed with the prospect of having to source suppliers off-island and arrange for ocean freight, import duties, and on-island deliveries. We manage all those aspects so clients can simply relax and enjoy their home. What, if anything, is a typical client commission? Our average home is in the 3,000 to 6,000 square-foot range. Our largest is the Emerald Cay project at 30,000 square feet. We have a staff of 8 in our design office, but many of our detailers serve as site managers overseeing the construction. Aside from the benefits of continuity, this set-up instills tremendous pride and dedication from our team.
Although Ron readily acknowledges that building on a small Caribbean island can be a challenge, his considerable expertise means he can easily navigate the build process for clients: “Provo is manageable in that it is a small market. You can easily develop those essential quality relationships in the community.” Shaw’s homes are unique to each client, but like the work of any artist, they all share certain Signature hallmarks. “When creating a home here it’s vital to connect to the natural beauty of the environment. When you move through an RA Shaw Design home you may not immediately notice whether you are indoors or out. This blending of nature and structure, creating intimate spaces that capitalise on the surrounds is an intrinsic design facet.” From concept to completion - many of Shaw’s clients find themselves owners of their dream home after just 12 months – an impressive time frame considering the attention to detail exhibited in each of the design projects. With the strength of the investment opportunity and the allure of the location, now might just be the perfect time to find out how to make paradise work for you.
When Your Dreams Become Reality
Does your client base include a high proportion of aspiring foreign second homers? The vast majority of our clients are foreign investors looking to build a vacation home in paradise. What advice would you give to foreign buyers considering building their dream home on the islands? To truly benefit from all that the Turks & Caicos has to offer, I firmly believe one needs to live and experience this environment for a significant length of time. Local knowledge is paramount.
+1 649 941 4394 info@rashawdesigns.com www.RAShawDesigns.com Volume 2 Issue 9 // Abode2 171
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ALTERNATIVE INVESTMENTS
A Taste of Investment
Specialising in personalised artisanal experiences across Italy, Serena Templeton catches up with Filippo di Lenardo owner of Elite RetrEat Italia to find out what a real dolce vita investment entails What inspired you to create Elite RetrEat Italia? Elite RetrEat Italia is my dream come true. From a very young age, I always had immense passion and fascination for discovering authentic beauty and the finer things in life. Over time, I soon realised that this desire for unique, and exclusive experiences was swiftly transforming into an almost essential requirement for personal growth. As I consider gastronomy the universal language of pleasure and culture, Italy without a shadow of a doubt, represents the ideal destination where this concept reaches its pinnacle. Sharing my excitement with people by letting them taste and experience my country’s tableau of amazing places is what drives me to constantly exceed clients’ expectations.
Speaking of innovation, could you tell us more about your concept a “taste of investment”? Everything I do is about unparalleled emotional and sensorial stimulation. My insatiable thirst for research and my extensive network of contacts in Italy allow me to come across “off market” investment opportunities in the hospitality and leisure segment. These luxurious assets are all about excitement and passion. I don’t just want clients to buy into Italy, I want them to find a deep connection while investing in the country. In order to generate this great feeling, I create unique experiences around the investment in order to ensure they make a decision from the heart of their soul.
What makes Elite RetrEat Italia a cut above the rest?
What would be your gastronomic match made in heaven?
My profound love and pride for everything that is exquisitely and quintessentially Italian, what I call Italian artisanal excellence. I redefine the boundaries of experiential engagement by creating sensational cultural luxury moments. We are no ordinary London agency, but rather an incubator of ideas and emotions. I push people’s imagination to craft innovative, one of a kind experiences and events; enriching moments that will be remembered for the rest of one’s life.
Imagine a stunning bay off the Amalfi coast, in a charming restaurant that can only be accessed by boat right on the shores of Tirrenean Sea. Here, you would be tasting mouth-watering pasta that originates from this tiny village made with fried zucchnini and served with a magical creamy blend of local artisan cheeses. All would be matched beautifully with a divine Fiano D Avellino, a truly fascinating white wine from a volcanic soil. Are you ready to join me in the magical world of Italian artisanal excellence?
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Elite RetrEat Italia Redefining artisanal excellence www.eliteretreatitalia.com filippo@eliterereatitalia.com +44 (0) 207 460 1098
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ALTERNATIVE INVESTMENTS
JOIN THE CLUB Combining high-ticket housing for a more conservative outlay, fractional ownership is a rapidly growing area of the holiday-home market. Tania Jacobs examines the perks and the pitfalls
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pending smart through the economic waves is a tricky feat and nowhere more so when it comes to investing in bricks and mortar. Having cast a recognisable footprint on the world of luxury acquisitions, namely private jets and designer yachts, the concept of fractional or shared ownership is increasingly being seen as an influential cog in the lifestyle real estate wheel. Cutting its teeth Stateside in the 90s in master-planned communities like Aspen in Colorado, the market has stratified in recent years to embrace a wide sphere of high-end resorts principally across Western Europe and the Caribbean. “Fractionals, unlike ‘vacation time only’ timeshare, confer a deeded interest and equity share in a managed property,” explains Piers Brown of fractional brand Fractional Life, “in short, all the benefits of a holiday home for several weeks a year, but bought in partnership with others who bear the costs with you.” Typical buyers, he adds, will probably have toyed
with the idea of purchasing a second home outright, but ruled it out in light of likely limited use: “For many, it’s the perfect middle ground solution – a share in a valuable asset, with a third party to manage the maintenance and upkeep side of things.” It’s a property trend Jerry Cobb of the Fractional Ownership Consultancy also considers “good business sense”: “Developers can find the fractional concept easier to market, while buyers get residence rights which better match their expected use. If anything, the real challenge is education – outlining what fractional ownership can actually offer.” Balancing exclusivity with time-tested usage, standard ownership configurations can lie anywhere between 4 and 13; the number of shares offered, principally a function of the amount of prime time that can be guaranteed. “Properties with a relatively short prime season will generally offer fewer shares,” explains fractional expert Scott Delaney, “with a float
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HOW TO BUY WISE •
Focus on quality - property size, usage-structure, resort amenities and value-added extras that come with ownership. Project density should also be appropriate for the area.
•
Ensure that all ‘on costs’ - property taxes, insurance, and maintenance are budgeted for and written into the deed of co-ownership contract and that a full property management service is included in your purchase.
•
Multiple ownership tax issues can be complex so take advice from a specialist lawyer. Buyers should also have contracts checked to ensure that you are receiving a clean equitable stake in the property and that there are no restrictions on selling your fraction on the open market, apart from, perhaps, having to offer the co-owners first right of refusal.
•
Research the market - buying a quarter share of a well-located high-end property can often yield better capital appreciation than an outright purchase in a similar price-bracket.
•
Annual maintenance fees vary per resort and should be reviewed carefully. The maintenance fee will normally include a contribution to a ‘sinking fund’ to cover incidental expenses and the refurbishment of the property after a period of time. This usually equates to 10% of the annual maintenance fee.
‘For many, it’s the perfect middle ground solution – a share in a valuable asset, with a third party to manage the maintenance and upkeep side of things.’ time during the least popular months. Full rights of ownership, including selling to others, renting, and buying additional fractional shares is standard, as is a fraction becoming part of an owner’s portfolio of heritable wealth.” Owners can also swap weeks between themselves or rent out their allocated period privately, with vacation exchange opportunities often available, although this is usually regarded as more of an ‘addon’ benefit and not the primary reason for the purchase. Buyers considering investment have two legally approved purchase formats open to them; setting up a limited company in which each owner owns a percentage of the shares in the company (more common with five+ owners), or drawing up of a deed of co-ownership with individual names placed on the title deed. “An annex document in both cases outlines owners’ rights to certain weeks a year based on high/low season distribution,” explains Delaney, “with upkeep of the property the responsibility of the resort’s elected management company written into the deed of co-ownership.” Maintenance fees vary widely by resort with a benchmark of between £2,000 - £4,000 per property per annum, plus a contribution to a ‘sinking fund’
to cover incidental expenses which roughly equates to 10% of the annual maintenance fee. Like all schemes, market expansion is bringing with it much needed consumer legislation. Says Jerry Cobb: “Selling shares in a property is much more complex than a straightforward re-sale, with share promotion legalities and transfer duty issues to take into account, added to which there’s the issue of planning a workable exit strategy. Specialist advice is essential. Co-ownership isn’t for everyone, but if you have a particular holiday destination that you love and don’t mind a restricted calendar of occupation, it’s an option that just might fit the bill.”
PICK OF THE BUNCH www.thehideawaysclub.com www.rocksure.com www.gleneagles/glenmor www.stregisresidenceclub.com www.thecrane.com
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OLDER
and WISER The fractional ownership industry is maturing as a new range of shared purchase opportunities comes to market, says Joanna Bishop of fractional consultancy, Lighthouse
D
espite the fractional ownership sector outperforming the mainstream property sector during the downturn, it is perhaps only now that the concept of a shared property investment is truly coming into its own as many world economies start to grow. What started in the United States in the 1990s as a lifestyle product with a ‘holiday-convenience’ bias, has evolved rapidly in recent times with forward-thinking developers of luxury resorts and high-end individual properties now offering flexible home purchase options for both personal use and rental income. Successful fractional schemes do however share a few common-denominator attributes. They offer high quality accommodation in a desirable location; they offer an impressive range of leisure and lifestyle services; and the property and the ownership arrangements are effectively administered and managed. With a background in the industry spanning over a decade, Lighthouse has been involved with a diverse portfolio of shared ownership projects among them the prestigious Royal Westmoreland Resort in the Caribbean haven of Barbados. Located on the fabled west coast – this world-renowned resort has a limited edition collection of 4-bedroom villas available for purchase on a fractional basis. The resort’s fractional ownership programme not only allows investors to buy a share of a beautiful luxury villa for the time they need, but also the opportunity to grow that investment as their
Royal Westmoreland lifestyle develops over time - owners may purchase a month’s usage now, and, in a few years, trade in the fractional share as a deposit against a full ownership residence. Exceptional service comes as standard, as does access to the Resort’s impressive leisure facilities. Owners can enjoy use of the Mullins Bay Beach Club with Indulgence Spa, The Sanctuary, the resort’s state-of-the-art gym and the championship golf course designed by Robert Trent Jones Jnr, consistently rated as one of the top courses in the Caribbean. Owners also benefit from the Resort’s affiliation with Preferred Residences, allowing them to visit other luxury resorts around the world, and Preferred Golf providing access to other prestigious courses including The K Club in Ireland and La Quinta Resort in California. Prices at Royal Westmoreland start at $53,600 for one week’s use in late September/early October rising to US$431,500 for 4 weeks use in March. Offering an altogether different shared ownership – in tune with buyers seeking a city bolthole retreat – Lighthouse is also developing through its ‘Urban Fractionals’ brand, a unique collection of luxury pied a terres in major cities including London, New York, Paris and Barcelona. Owners benefit from flexible usage rights of all the properties in the portfolio and the highest level of concierge and leisure services. Prices start at £125,000. To learn more - visit www.lighthousefractional.com or www.urbanfractionals.com.
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Paradise Paradise
Yours for ever Yours for ever
A unique lifestyle choice at the world A unique lifestyle choice at the world renowned Royal Westmoreland Resort, renowned Royal Westmoreland Resort, Barbados Barbados A selection of brand new, luxury 4 bedroom villas set in lush, tropical withluxury private4 swimming poolsset on in A selection ofgardens brand new, bedroom villas one the topgardens golf courses the Caribbean lush,oftropical with in private swimming pools on one ofthe theRoyal top golf courses in the Caribbean Enjoy Westmoreland lifestyle offering a high
degree of privacy, world class amenities and exceptional Enjoy the Royal Westmoreland lifestyle offering a high service degree of privacy, world class amenities and exceptional service A range of fractional ownership options giving ultimate
flexibility the Resort’s internal exchange A range ofwith fractional ownership options givingprogramme ultimate and accesswith to other exceptional resorts aroundprogramme the world flexibility the Resort’s internal exchange and most prestigious golf courses and some accessoftothe other exceptional resorts around through the world ® and Preferred Golf ® Preferred Residence Group and some of the most prestigious golf courses through Preferred Residence Group® and Preferred Golf®
Prices from US$53,600 to US$431,500 depending period and of year Prices fromon US$53,600 totime US$431,500 depending on period and time of year
+44 (0)845 519 info@lighthousefractional.com +44 (0)845 519 www.lighthousefractional.com info@lighthousefractional.com www.lighthousefractional.com Abode2 Volume2 Issue9.indb 177 Abode2_Volum2_Issue9_Lighthouse_Ad.indd 1
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ALTERNATIVE INVESTMENTS
Going
GLOBAL The desire for flexibility and mobility, to respond to the demands of globalisation, is driving many investors into citizenship programmes. By Micha-Rose Emmett, Managing Director at CS Global Partners
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his past half-decade has seen increasingly stringent business conditions come to play an ever more important role across a wide array of industry sectors. Whether it’s with regards to financial investment or cross-border travel, tougher regulations are seen as an impediment to progress by many individuals and will no doubt continue to be viewed in this light provided they continue to complicate proceedings. Individuals looking to complement their existing wealth protection and investment growth strategies, improve their personal security, increase confidentiality in their personal affairs, or to travel globally at short notice, could benefit significantly from alternative citizenship and a second passport. Currently the most popular opportunities are offered by the jurisdictions of St. Kitts and Nevis, Dominica, and Grenada.
residency requirement, in exchange for an investment made into the country. St Kitts and Nevis citizens enjoy visa free travel to 132 countries, including the UK, the Schengen Area, Hong Kong and Singapore; as well as, a secure means of protecting ones assets and wealth, not to mention a highly useful second passport for individuals and their family for future generations. A contribution made to the Sugar Industry Diversification Fund (SIDF) starting from US$250,000, or an investment into an approved real estate project of US$400,000
ST KITTS AND NEVIS St. Kitts and Nevis established the first Economic Citizenship Programme in 1984. The Commonwealth of Dominica followed suit in 1993. Grenada introduced its programme in 2013. The popularity of these programmes is unparalleled, because they offer a seamless application process completed within 90 days; with no residence requirement, no business or education criteria and no risk to the client’s investment, as the investment is only made after application approval has been granted. This is the oldest, most trusted and successful Citizenship by Investment Programme allowing applicants and their families to obtain citizenship of St Kitts and Nevis, with no 178 Abode2 // Volume 2 Issue 9
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(plus government fees) secures one a St. Kitts and Nevis citizenship. In respect of the real estate option, applicants are strongly advised to undertake an independent valuation of the property they wish to purchase under the programme.
DOMINICA
The Commonwealth of Dominica offers a fast route to citizenship of this peaceful tropical paradise through its Citizenship by Investment Programme. The programme is the most affordable option, as it requires a single applicant to make an economic contribution of US$100,000 to the country’s Government Fund, the Economic Diversification Fund and in exchange, the applicant, and their family will obtain full citizenship of the country for life. Recently the Government introduced a real estate option with a minimum investment requirement of US$200,000. Dominican citizens also enjoy visa free to 120 countries including the UK, Europe, Hong Kong and Singapore too. With no interview requirement or residency requirement, this programme is a very attractive option.
GRENADA The Grenada Citizenship by Investment Programme welcomes individuals of good character to obtain citizenship in Grenada for them and their families in return for an investment either in the form of an approved real estate investment of US$250,000 as a minimum (plus government fees), or a minimum donation to Grenada’s National Transformation Fund of US$200,000 (for up to four family members). This
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programme is particularly popular for large families. Similarly to the other programmes Grenada citizens also enjoy visa free travel to over 120 countries, and since April 2015 Grenada has become one of only five countries in the world to offer visa-free access to China. Grenada will increase the real estate option to US$350,000 in the late summer.
CITIZENSHIP FAST FACTS CS Global Partners specialise in assisting individuals and families with their citizenship and residency status. Passionate about the solutions we offer and the countries that we work with, we see the value that these solutions can bring to both the countries that implement these specialist programmes, as well as the individuals who take up citizenship. Increasingly, individuals have looked to alternative citizenship as a means of becoming integrated with peoples from all corners of the globe, whilst making a smart investment decision. For more information contact: +44 (0) 207 318 4343 info@csglobalpartners.com or visit www.csglobalpartners.com
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ALTERNATIVE INVESTMENTS
Exchange for Gain The vision of Olifee Finance Academy (OFA) is to empower individuals to reach financial freedom through Forex via premium platform FXPRIMUS
T
he Forex Market is considered the largest financial market in the world, trading over US$5.3trillion in a single day. With the explosion of technology, anyone can start trading the Forex Market with just a laptop and an Internet connection. FXPRIMUS is globally acclaimed for offering one of the safest and most secure online trading environments available anywhere in the Forex industry. The company enables clients of all experience levels to trade multiple instruments including Forex, commodities, energies and indices, via a range of advanced web and mobile trading platforms. Lightening quick execution via state-of-the-art execution systems worldwide combine to create a seamlessly efficient trading environment. Client funds are protected via an unshakable risk management model, built to withstand any unexpected market volatility. Through the advanced risk 180 Abode2 // Volume 2 Issue 9
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ABOUT OLIVIA CARTIER FOUNDER OF OLIFEE FINANCE ACADEMY (OFA) Graduating with an MBA in London in 2006, and revered among her peers as a brilliant communicator and thinker, Olivia Cartier has a natural flair for spotting business trends in a rapidly changing world. A business consultant for six years, she has worked through every division of a successful business empire; from sales and marketing through to product research, development and training. Managing Director of Olivia Cartier Luxury Lifestyle, a boutique firm focused on bespoke lifestyle services for VIP clients, in 2015, Olivia founded Olifee Finance Academy (OFA), an educational institute based in London, which delivers seminars and programmes about capital and foreign exchange markets. As CEO, Olivia plans the growth and strategic positioning of the Academy and is fully focused on being a major educational player on the world stage in the coming years. Olivia’s vision for OFA has attracted worldrenowned financial expert Mario Singh, who sits on the board of OFA as an Advisor. A widely sought-after thinker in the finance industry, Mario regularly appears on international media CNBC and Bloomberg, sharing
management systems, featuring strict regulation, negative balance protection and segregated client funds, the company offers an unprecedented safeguarding of client assets. 7 reasons why traders and business builders choose FXPRIMUS as their partner: • Unprecedented Fund Safety • Fully Audited Brokerage • Global Trading Infrastructure • Concierge Services • Quick Deposits and Withdrawals • Back Office Management • Industry Award Winner
his views on the market to an estimated 350 million viewers worldwide. As a world-renowned financial expert, Mario has trained private bankers from Julius Baer - the third largest Swiss bank in the world, and ICBC, the world’s largest bank. The combined assets of these two institutions, total in excess of US$2trillion dollars. At OFA, we are dedicated to helping you achieve a high level of success in the Forex Market by equipping you with world-class education and a state-of-the-art trading environment. Our trading programmes include: • Seminars (Basic, Intermediate and Advance) • Books and DVDs • Trading Portal For more details, please visit www.olfacademy.com Tel: +86-400-853-3000
To celebrate the global launch of OFA, we are excited to partner FXPRIMUS, a global leader in Forex brokerage, to bring Abode2 readers an exclusive promotion. From now until 31st December 2015, open a trading account with FXPRIMUS and be rewarded with a 100% credit bonus. • Fund US$5,000 and start trading with US$10,000 • Fund US$10,000 and start trading with US$20,000 For more details, please visit www.fxprimus.com/championtrader
As a testament to their strength and global branding, FXPRIMUS announced their official partnership with Manchester City Football Club in January 2015. Volume 2 Issue 9 // Abode2 181
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Your Luxury Propery Experts In Southern & Central Costa Rica Costa Rica is well known as a premier destination for tourism & expats from all over the world. The country features a stable democracy, modern infrastructure, a strong economy, low taxes, inexpensive construction costs, and a high quality of life in a naturally beautiful environment that is simply unforgettable. This set of factors is why Costa Rica has been a top investment choice by savvy investors for many decades. Recently we have been experiencing tremendous growth - especially in the Southern Zone - with international investors looking for emerging market growth potential in a secure environment. We have premier investment opportunities that range from entry level properties, exclusive luxury homes that generate steady rental income & one-of-a-kind land parcels. This is an optimal time to invest in Costa Rica’s Southern Zone. Whether you are seeking a finished luxury home or a stellar ocean view location to build your dream home upon, please contact us to arrange a personal consultation. Our team of professionals has over 60 years of combined experience and will provide you with rock solid advice that you can count on.
Browse hundreds of listings online or call us direct
00 506 2787 0226
USA 214 613 5736
info@costaricarealestateservice.com
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Costa Rica Real Estate Service Opportunity In Paradise Awaits
COSTARICAREALESTATESERVICE.COM
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LATIN AMERICA
Raising
the Retirement Bar The most stable country in Central America, Costa Rica’s tropical charms, and low taxation regime are luring soon-to-be-retirees in their droves, says Laura Henderson
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he gourmet coffee shops of Escazu are packed on Sunday afternoons, late lunchers chin wagging in the sun. They’re not upwardly mobile Latinos, but part of a growing cadre of foreign-born pensionados (retirees), who have chosen to put down roots, to fish, to play golf, to take it easy. It’s not hard to do - the national expression “pure life” or pura vida is a peace-loving philosophy in Costa Rica and not just for visitors - a mission to live a fulfilling, hassle-free existence. Bordered by Nicaragua and Panama, the tiny republic has avoided the political and economic turmoil that has characterised much of Latin America, the last rumblings of conflict stamped out in 1948 and replaced by a stable democracy with a strong growth economy. Thanks to a decades-old policy of offering tax incentives and other perks to attract English-speaking retirees, the country has also pioneered a popular economic development tool for emerging Caribbean basin markets like Panama and Belize; 184 Abode2 // Volume 2 Issue 9
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the drip-feed of a high-spending empty-nester class now being superseded by pre-retirees looking for a casita under the palms. “Overseas residents number around 300,000,” confirms Richard Lacey of Coldwell Banker. “Most are from the States, but UK investor interest has also picked up, many buying ahead of retirement, so they can ease themselves gently into the sunshine lifestyle.” Retirees contribute significantly to the £800m+ a year in direct spending by overseas visitors - the multiplier effect in terms of salaries in health care, construction, retail and other services bolstering both public and private sector growth. The grey market wave is moreover synergistic: early pensionados having invested in second careers; running start-up businesses, B&B establishments and restaurants, now attracting more of the same. “The country’s public health system is among the best in the world,” explains property consultant Denis Easters. “After a monthly payment that’s based on income (between $50 and $150 for most expats) residents receive health care that’s completely free including routine visits, prescriptions, and even major surgeries, although many expats prefer to tap into the private health care network.” Resident status is secured in a number of ways - the two most common “entry” channels as a pensionado or a rentista (a foreign property owner): “Neither pay taxes on money earned outside of Costa Rica,” adds Easters, “although retirees need an income stream of at least US$1,000 a month from a qualified pension scheme or retirement account, US$2,500 in the case of rentistas.” Not everyone chooses to apply for residency: “It really depends on how much time you plan to spend here,” adds Easters. “Non-residents can stay for up to 90 days at a time without a visa, many opting to interval visit during the December-April dry season, although some eke out their holiday weeks across the year.” Home ownership has acquired a more complex
demographic of late, with demand from an increasingly affluent Costa Rican middle class, the North Pacific, South Pacific and Central Valley, (where the majority of the 4.8m population live), fuelling demand for prestige new build. Real estate does carry hazards for the unwary buyer. “It’s vital to check title insurance when buying an older property or a plot to build,” stresses Serguei Galkine of agents Tropical Felgate. “Off-plan is more straightforward - although you need to ensure that a developer has a finished product to show as well.” Finding an agent through the Association of Residents of Costa Rica is a good starting point. “They’re an expat membership group, so they’ll tell it like it is,” adds Clari Vega of LX Costa Rica. “Buyers that really want to play it safe can always use the services of a title insurance company. It costs around 1% of the property value, but it’s worth it for peace of mind.” Previously the domain of die-hard surfers and backpackers, the northern Pacific province of Guanacaste has seen headline real estate growth in the past few years, with a jungle run of coastal developments, big name hotels and smaller more speculative endeavours breaking ground. At the centre of the transformation is the international airport in provincial capital Liberia, with daily flights from the US and a growing European network. A region of savannah and sabaneros (cattle ranchers), new homesteaders, are looking forward to a community ‘upgrade’ with the requisite brand-name golf courses, marinas and beach-club trimmings. “Tamarindo, Conchal and Playa del Coco are prime areas,” adds John Wieland of Vesta Group Dominical, “but the real bargains lie further north in Brasilito and Playa Junquillal, a luxury villa with pool setting you back US$450,000. Prices here are 30% lower than the Mid Pacific and South Pacific regions.” Popular front-runners with weekending ticos (locals), the lively beach area of Jaco and the national park of Manuel Volume 2 Issue 9 // Abode2 185
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LATIN AMERICA Antonio in neighbouring Puntarenas offer a hip and holistic combo - offshore islands and expansive white sand beaches backed by swatches of canopied forest. “Ocean view homes in Jaco can be picked up for US$490,000,” adds local agent Shawn Fletcher. A safe distance from off-the-peg tourism, hippy residents in the region’s Southern Nicoya Peninsula are also enjoying the trickle of ‘new blood’ into their community. “Luxury estates can be picked up for US$1.4m.” As to the downsides: “Potential over-development in places like Guanacaste, which has a high concentration of gated communities,” explains UK expat Yan March. “Petty crime in urban and beach areas is also prevalent, but it’s still a very safe place to live: Quality of life here isn’t measured by efficiency and material things - it’s having wildlife come right up to your front door, squirrel monkeys lolling on your balcony and picking fresh-fruit for breakfast every morning. Living takes that bit longer here. But then you’ve got the time to take it all in.”
BUYING IN COSTA RICA •
The property system grants foreigners the same rights as citizens.
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Registered land can be title searched in the Folio System in the Public Registry Offices in San Jose and is available to search on-line. www.registronacional.go.cr
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Transfer costs including registration fees, stamp duty, notary and lawyer fees amount to around 5% of the buying price.
•
There is no CGT (capital gains tax).
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Amazing wildlife | Endless beaches | Abundant nature Discover Brazil on a luxury holiday with the specialists
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LATIN AMERICA
BRAZIL BECKONS With a strong legacy in place courtesy of the FIFA World Cup, investors are assessing the risks and rewards of the Brazilian real estate market. James Matthews reports
H
ome to Sugarloaf Mountain and Copacabana Beach - Brazil’s exotic landmarks, year round sunshine and carnival atmosphere have helped pull in high volumes of overseas visitors in recent years, with record numbers (6.4m) during 2014 World Cup year and an equally rousing footfall expected for next summer’s Olympics. Hailed as a top-ranking world economy and overtaking Russia and India in the BRIC league table, the country’s upward trajectory is no accident; a firm handed government under President Dilma Rouseff having implemented a reformist economic agenda, of which inward investment is a driver for growth. “It’s an influential factor behind real estate investment returns now looking strong,” explains property consultant Martin Gajewski. “Major infrastructure improvements, such as transport links are also boosting investor interest, with the upgrading of the country’s regional airport network opening up access to foreign buyers.” For Nito Dantas of Terra Brazil, the overseas investment base is also evolving post-recession from one that was predominantly second-home orientated to more investor led purchases. It’s a shift he puts down to high profile events such as the World Cup which have translated to strong rental revenues but it’s equally
attributable to the country’s burgeoning middle class sector. “Millions of new homes are now needed with ensuing changes to real estate legislation including the introduction of mortgages for domestic buyers,” he adds.
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First time visitors will understand the country best as a series of micro-markets, the Rio Grande do Norte state and its capital Natal, currently one of the fastest growing areas, witnessing property price gains of 10% per annum. The area attracts year-round tourism, with locals coming through the December to March holiday season and European and US visitors in the summer. “Residential property is a good 30% below Spain or Portugal,” adds Teresa Harden-Ringo of Hoosier Homes and Land. “The region is one of Brazil’s most successful attempts to date at residential tourism with interest in second homes from both the domestic market based in the south (Rio de Janeiro and Sao Paulo) and foreign investors.” Property choice is also vast and attractively priced; spacious turnkey villas in lively locations like Ponta Negra and Pirangi starting from £200,000. Head to Brazil’s most easterly state meanwhile, and improvements to road infrastructure have increased accessibility to this scenic region with its cluster of beach paradises such as Tambaba, Tabatinga, Coquerinho and Praia Bella. Comments Benoni Rodrigues of consultancy Brazil Prime: “A small, exclusive beach community, Tabatinga and its neighbouring beaches have only recently been discovered by international visitors. Located near the historic city of Joao
Pessoa and international airport, they are a firm favourite with domestic holidaymakers with palm trees dotted along the shoreline and coral reefs some 20m high.” Increasing levels of tourism development are delivering a number of stylish new developments including Tabatinga’s latest ten unit villa development where 30% of plots have already sold to a mix of Brazilian nationals and overseas buyers. Boasting a prime front line location with the option for a private landscaped garden and pool, four–bed open-plan, bespoke build residences start from £200,000, with designer furniture upgrade packages available.
BUYING IN BRAZIL •
Ownership of land and property is permitted, and all property is freehold. Foreigners have the same legal rights and entitlement to property as Brazilians.
•
Buyers require a Catastro de Pessao Fisica (CPF), a tax registration number, which can be obtained from overseas through the embassy or in Brazil through a lawyer.
•
Land registry costs, when buying property in Brazil can vary depending on the state in which the property is located.
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Stamp Duty Tax (or Registration tax) is around 2% of the purchase price (payable to the notary)
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Property Transfer Tax (ITBI) is around 3%
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Navy Marine Tax is approximately 2% and generally only applies if a property is located on front line beach.
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For off plan purchases, due diligence is essential with regards to checking that building licences are in place, and that land is properly registered with a certificate (copia da escritura publica) from the notary.
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LATIN AMERICA
Design in Mind
Passion for liveable yet luxurious living environments is at the heart of every Carlos Rossi creation, as James Matthews discovers
A
rchitect Carlos Rossi indulges in a celebration of the senses with each and every one of his design commissions combining personality, neutral tones and contemporary accents, a signature hallmark style portrayed by his company Carlos Rossi Arquitetura based in São Paulo. Award-winning projects such as the prestigious residential model home Riserva Golf, in Rio de Janeiro illustrates his detail-oriented eye to sophisticated, refined and unique interiors. Developers from RJZ-Cyrela invited Carlos Rossi to transform their 265 square metre home in the Riserva Golf Complex into an oasis for a young couple in just three months, in the spring of 2014. Carlos immediately brainstormed around the concept of the “carioca”, the native way of Rio de Janeiro, in a city that favours the outdoor lifestyle. The “designed nest” as he calls it, is a combination of 190 Abode2 // Volume 2 Issue 9
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a warm, homely yet spacious atmosphere, without losing the individuality of each living area especially the lounge, dining room, and home theatre, with complete functionality through the clever integration of those spaces. The layout is well executed – and keeps in mind the laidback lifestyle of the “carioca”, the importance of bringing the outdoors in with plenty of space for entertaining. The social areas are inviting due to the large, integrated spaces; all evoke a cosy atmosphere with the use of neutral colour accents. The three main en-suites also reflect the vibrant Rio lifestyle, with decorative pieces relating to the outdoors; accents such as the green wall in the main terrace and the repurposed chiselled wood table in the dining room. The Riserva Golf project won the Best International Model Home category in the Property Awards last year in Dubai. Another high-style project undertaken by Rossi, this time in
the corporate world, is the Headquarters for a major security company in São Paulo. Rossi was commissioned to design communal areas within the company’s new facilities covering an area of 1,290 square metres, including conceptualised spaces for the CEO, the Board of Directors, as well as an auditorium, foyer and reception area. The project vision focused on integrating individual work and play environments through the use of sliding panels. Materials incorporated included large format floor tiles, and interior vegetation to create an elegant and luxurious atmosphere that welcomes both visitors and employees. In all areas of the office, tones are muted and neutral with an overriding contemporary feel. A highlight of the project - the auditorium, was designed in such a way to conceal the interior space through an automated system of pivoting doors: an innovative design concept using state-of-the-art technology.
DESIGN MAGIC Carlos Rossi Arquitetura has more than 20 years’ experience in the design business with a prestigious portfolio of projects spanning the Corporate, Real Estate Development, Hospitality, and Residential sectors not only across Brazil but worldwide including Europe, Central America and Africa. Carlos Rossi Arquitetura’s projects have been featured in exhibitions, specialist magazines, and books, with recognition through numerous awards both nationally and internationally. Providing exclusive design for upscale residential and commercial projects, the agency prides itself on client satisfaction through the creation of innovative design solutions with a contemporary twist. www.carlosrossi.com.br
+55 11 3045 6666 carlos@carlosrossi.com.br www.carlosrossi.com.br Volume 2 Issue 9 // Abode2 191
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LATIN AMERICA
Brazilian Bounty A
seductive corner of Latin America turned supertrendy getaway for Brazilians and fashionable jet-setters, Trancoso still retains an authentic mellow vibe despite its star power and wealth. Located at the southern end of Brazil’s Bahia State, this vibrant, bijou town beckons visitors with white sandy beaches set against cliffs, natural swimming pools formed by reefs at low tide, coconut groves and rainforest, balmy nights and the most famous village green in Brazil - The Quadrado; the centre of Trancoso life, filled with capoeira, soccer games, and social adventure. Firsttime visitors quickly learn about the area’s ‘simply chic’ way of life: a unique mix of pristine nature, effortless glamour, and stunning tropical surrounds, while its famous beaches, from Praia dos Nativos to Praia do Espelho never fail to impress. Part of the coastal stretch known as the Discovery Coast, or Costa de Descobrimento and declared a UNESCO World Heritage site in 1999; Trancoso is a wonderful destination to visit all year round. Bustling during the summer - May to September tend to be the drier months with November and January, two of the rainiest, but even then, the area has a truly pleasant, sun-kissed climate to enjoy. A seminal year – 1999 also kick-started property investor interest in a more serious vein, thanks to the building of a new highway linking the region to the commercial airport in
Edmond van Wijngaarden of Exclusive Realty Brasil explains why Trancoso in South Bahia tops the property charts for a luxury second home
Porto Seguro. The opening of the private Terravista Airport and helipad between Trancoso and Arraial D’Ajuda now allows Gulfstream planes and private helicopters to whisk well-heeled residents to São Paulo in around two hours. This past decade has also seen the addition of Terravista, an exclusive gated golf course resort, where mansions designed by keynote Brazilian architects including David Bastos can be snapped up for a cool US$1.8 million.
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FAST FACTS TRANCOSO •
Foreigners purchasing property in Brazil need a tax identification number (CPF) for tax and registration purposes, obtainable from the Brazilian tax office
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Legal and registration fees and taxes amount to 6% of the purchase price
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The nearest public airport Porto Seguro is just 45 minutes’ drive from Trancoso
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There is an airport for private jets at Terravista 4km from the Quadrado
Price wise - house values have increased threefold over the past decade, and show no signs of slowing. The current investment climate, with favourable exchange rates and a stable government are contributing factors and bode well for future investment returns. For those considering a second-home investment property choice is diverse; Trancoso village itself retains the original style of its housing architecture with many quaint little houses. New build houses tend to be built on Brazilian
generous-size plots and can be purchased for R$600,000 to R$7,000,000. Luxury mansions in the best localities sell for upwards of R$2,000,000. Size-wise, four to six bedrooms is standard with all the home-from-home lifestyle trimmings – a pool, spacious patio areas and extensive gardens, with additional facilities such as a games room, home office, wine cellar, al fresco dining/barbecue area and separate guest annex for those last minute sun-seeking guests. The good life has arrived.
Based in the exclusive haven of Trancoso in South Bahia – Exclusive Realty Brasil specialises in the sale of premium residential properties for HNW individuals and discerning investors. The company’s real estate portfolio spans development plots, land banking investments, through to the finest luxury beachfront villas and prestigious second-home residences in the region.
The agency offers clients a bespoke 360 degree service from property search and selection, and title deeds registration through to tax and legal essentials for a seamless purchase outcome.
+55 73 9107 7777 edmondvanwijngaarden@yahoo.com.br www.exclusiverealtybrasil.com Abode2 Volume2 Issue9.indb 193
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My Secret Globetrotting Address Book Golf resort with the wow factor? Gleneagles, the recent host venue of the Ryder Cup. It’s where I learnt to play golf and where I spend every New Year. I call it my spiritual home. It boasts three world-class courses but the setting and surroundings are absolutely stunning and the attentive but discreet service really sets it apart. Destination that’s leaps and bounds ahead in terms of golf tourism? I’ve always been a huge fan of The Algarve. I go there every year to host the Portugal Masters on the European Tour and I’ve been on numerous other golfing trips over the years. It’s just very easy with an abundance of quality golf courses within a short drive of each other. My favourite resort is Quinta Do Lago. The new North course has just reopened after a 10-month redesign by Beau Welling and European Ryder Cup captain Paul McGinley. Where would you take a novice to inspire them about the game? The Old Course at St Andrews, although getting a tee time is difficult. Just to walk around the town and soak up the atmosphere is special. It’s the home of golf so will provide all the inspiration you could possibly need. Make sure to stop by the Jigger Inn for a post-round refreshment too.
Award-winning Sky Sports presenter Sarah Stirk reveals her favourite fairway getaways Favourite chill out destination when you’re off duty? The Maldives. For pure relaxation and escapism it can’t be beaten. There’s not much to do and I love that, it’s the perfect destination to pamper your body and soothe your soul. I love going there at the end of the year when the golfing season is over and I have a clear mind with nothing to worry about. I find it very easy to switch off with the toughest decision of the week being pool or beach. Finest fairway vista you’ve ever seen? Probably Old Head in Kinsale, Ireland. A simply breathtaking course, which sits high on a narrow headland jutting out two miles into the Atlantic Ocean. I remember playing in a corporate day and three golfers had to walk in as they had Vertigo. If you’ve got a head for heights go and play it, it’s one of the most exhilarating golf courses in the world.
Sarah Stirk is the golf presenter for Sky Sports and also owns Xclusive Golf, a boutique golf concierge service. Follow Sarah on Twitter @ SarahSkySports
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Abode2
Darren Clarke Village Peace and Understated Luxury
The Astbury real estate is a modern approach to luxury country living. Whether as a country home, holiday escape or occasional weekend golfing getaway, The Astbury real estate is designed for your complete comfort and relaxation.
Tel: +44 (0) 1746 767394 Email: sarah@theastbury.co.uk www.theastbury.co.uk
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Established 1897
H ARROD S E S TATE S For the British elite, the capital is a natural home; for overseas clients, it’s a financial and cultural hub which offers opportunities for potentially prudent investment. Specialists in residential sales and lettings, new developments, asset management, property management and acquisitions, Harrods Estates holds the key to this thriving market. The agency shares the global reach of the Harrods brand, and provides dedicated Middle Eastern and Russian desks, as well as translators – including Mandarin speakers. Wherever a client calls home, they can access London’s most exclusive properties through Harrods Estates.
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HARRODSESTATES.COM @HarrodsEstates
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