MIKE GATTING: BARBADOS
But there are benefi ts. Royal Westmoreland is the island’s only mature golf resort, and while the global economic crisis has seen other developments grind to a halt or mothballed, Westmoreland’s grand villas accessed by frangipani-fringed lanes and shady palms seem immune from the downturn. “The market for individual
beachfront villas and constructed properties on gated communities, such as Royal Westmoreland, has remained strong, and as a result prices have been stable,” says John Morphet, the UK businessman who bought the resort in 2004 (see below). “I have invested considerably in
the golf course, infrastructure and facilities. Since 2007, that has been US$50 million alone. This has had a knock-on effect to property prices on the estate, which have increased by 250 per cent since 2004. I believe they will continue to increase.” Gatting, who plays off 10 and loves
the fact that he can play with legends such as Ian Woosnam, adds that his villa has been a fantastic holiday home for his family for around six weeks each year.
“My boys [Andrew, 29, and James,
26] have virtually grown up here. It is very safe, so is great for mums out here with the children,” he says. So what can you buy there currently? New homes for sale on the resort include 22 semi-detached, four-bed, three-bath townhouses on Sugar Cane Ridge and Jasmine Ridge, which offer sea and golf views. Prices start from $1,200,000 (£777,200) for a detached three-bed royal villa and $1,450,000 (£939,100) for a four-bed townhouse (excluding a pool). A pool and a deck will cost an extra $50,000-$60,000 (£32,400-£38,900).
And $3,150,000 (£2,039,800) will buy a four-bed, 4,220 sq ft villa. The price of all these properties
excludes the one-off “entrance fee” of $100,000 (£64,800). This entitles you to use the facilities including the golf course, which attracts an annual $12,000 (£7,770) family membership fee. There are also 35 refurbished apartments starting from $395,000 (£255,700) for a one-bed measuring 830 sq ft, up to $925,000 (£598,800) for a roomy three-bedder (
www.royal
westmoreland.com, 01524 782649).
THE SECRET OF THE RESORT’S SUCCESS? “IT’S PROVEN, NOT PROMISED”
Royal Westmorland is owned by John Morphet, a Preston-born entrepreneur, who heads up the Pure Leisure Group. Known as Mr Big in the UK caravan and luxury lodge market, having sold part of his South Lakeland caravans business for £100 million, the former farmer bought Royal Westmoreland for £55 million in 2004. In the previous three years, no properties had been sold, but after an immediate investment of £2 million to improve the infrastructure John has put it back on track as a world-class golf resort. “Purchasers now are more risk-averse, and prefer to buy somewhere that is built, rather than off-plan, and on a development where the facilities are in place,” he says. “This is one of the reasons why Royal Westmoreland has had considerable sales success over the past seven years – it is proven, not promised. Over the past year, Royal Westmoreland has outperformed the market, having sold 10 new villas at an average price of US$2 million (£1,294,800), and has had numerous resales on the estate, including one at US$7 million (£4,534,200). “Inquiries are up on last year, so we are expecting 2012 to be another good year.”
Above: Townhouse at Sugar Cane Ridge, with four bedrooms and views across the 10th fairway, for sale for £927,000
Left: Royal Apartment 112 is a two-bedroom fully furnished ground- fl oor property, close to a communal pool, for sale for £465,000. One-beds from £253,000
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