Live in Barbados

A Lancashire leisure tycoon has handed the keys to a luxury Caribbean holiday home to a children’s hospice in a bid to raise cash.

John Morphet, the Preston-born multi-millionaire, has given the two-bedroomed apartment on his exclusive Royal Westmoreland Estate on the island of Barbados to Chorley’s Derian House to rent out over the next year.

He hopes it will help raise up to £50,000 towards the £2.25m annual running costs for the hospice, which cares for children with terminal or life-threatening illnesses.

Mr Morphet, who still has a home in Milnthorpe on the Lancashire-Cumbria border, said he was inspired to help the charity after learning it receives less than 10% of its funding from the Government.

See full article here.

Caribbean property could see prices increase by a regional average of up to 5%, international property investment consultancy Property Frontiers has announced. The firm says that as international buyers return and tourism climbs back onto its feet developers will seize the opportunity to start reversing any discounts or price falls from as early as April.

“Overseas property sales have been increasing since last April, and the Caribbean has seen among the fastest growth in sales volumes. This is because lifestyle buyers, mostly wealthy ones have been predominant in the market, and the Caribbean is the ultimate lifestyle choice,” said David Cox director of the firm.

“Lifestyle buyers had kept the Caribbean markets going anyway, so prices didn’t have to come down in most places. This leaves developers well placed to capitalise on the increasing demand to increase their turnover,” he added.

See full article here.

Early 2010 should see the Four Seasons kick back into action.

The largest property development and tourism project along Barbados west coast should be back on track early in 2010.

The widely debated property, Four Season Resort and Residences which broke ground in 2007, came to a screeching halt last June but now plans are afoot for its restart.

But now the plan to get the multi-million dollar property underway will largely involve the Government of Barbados, well-known government advisor and investment banker Avinash Persaud and partial financing from one of the island’s finance houses.

See full article here.

The Crane presents the inaugural Village Masquerade to ring in 2010!

This open air, spectacular street party is ideally located in the brand-new Crane Village on the Southeast Coast of Barbados. Patrons will have the privilege of being entertained by the dynamic band known as the “Soul of Barbados”, Virtuosity. The band will showcase their versatility throughout the night as they perform everything from well-known classics to today’s hits as patrons dance the night away under the stars.

Tickets at $150 BDS include the extensive Gala Dinner and Seafood Market Buffet in three locations on property – L’Azure Restaurant, Pavilion Room & Town Hall and an after party.  Premium bars and a selection of fine champagnes will be available throughout the party on a cash basis.

A Preview of the Gala Buffet Menu

• 7 Salads to choose from including Grilled Mediterranean Vegetable & Chicken Salad and Mozzarella di Bufalo with Vine Tomatoes & Basil
• 7 Choices from the Seafood Market including Oak Smoked Scottish Salmon and sumptuous Tiger Shrimps
• 8 Main Courses  including Canard a L’ Orange, Chicken Cordon Bleu and Tandoori  Red Snapper, Chermoula and Chick Pea Salsa
• A full carving Station featuring Classic Steam Ship Round of Beef with Horseradish and Yorkshire Pudding and Marmalade Glazed Ham, Home-Made Apple Chutney
• And for the sweet tooth, a wide selection of 11 tantalizing desserts to round out the evening’s culinary delights.

In addition to this, Barbados #1 Zagat-rated Zen Restaurant will feature its traditional a la carte menu on the night for those desiring Thai/Japanese cuisine.

Please note that prices are subject to a 10% service charge.

For bookings: contact newyears@thecrane.com or call 246-423-6220.  Book early to ensure your space!

Congratulations to Jill Tomlin, Colleen Cole & Linda Lewis-Bishton on another fine issue of Living Barbados, the magazine for property investment and lifestyle in Barbados.

The winter season issue is packed with great articles, listings and photography, making the case for living in Barbados even more compelling. Here are a few items from the table of contents:

• Destination: Crane Village — At the intersection of Heaven and Earth. By Kerri Birch
• Isle of Plenty — The Barbados real estate scene appeals to all types of buyers. Which coast suits you best? By Laura Henderson
• Wealth Management and Your Real Estate Assets — Manage your assets during a global recession. By N. Elliot Barrow
• Investor Interview — with Mark Maloney, Managing Director of Preconco Limited

There are many more interesting features and listings from the island’s real estate agents, and you’ll even find a 1 page ad from your favourite listings website on page 86.

We didn’t have a great deal of time to put together the artwork for the ad, which is why it’s so minimal. Leafing through the magazine it looks quite different to the average real estate ads. We like the fact that it’s big and bold, but next time we’ll try something more sophisticated. What do you think?

An interesting article released today prompted me to think there must be some good deals to be had in St Lawrence Gap, located on the south coast of Barbados.  The article starts with the following (read full article):

The very popular St. Lawrence Gap in Barbados is playing host to some fierce competition for condominium, villa and apartment sales. The popular south coast entertainment strip will soon be home to two new condo developments that include the island’s first 4 star condominium hotel called Ocean Two which is scheduled for a 2010 completion date, meanwhile Sapphire Beach Apartments is slated for an end of 2009 completion date.

Both developments are very large but also have great beaches and facilities.  The location lends itself to great rental opportunities due to the many restaurants & bars, and also its proximity to the airport & Oistins.

This up turn in rental opportunity will allow people looking for a holiday home in the sun to realise a good return on their investment, and will also attract those prioritizing the investment over the home in the sun.

The good news is that with two large developments coming on line in quick succession, the savvy purchaser can use this competition to seek out a good deal, once they get in quick!

I briefly touched on fractional ownership in a previous blog.

Fractional ownership is an interesting form of property ownership that very much suits vacation home ownership.

Here in Barbados, The Crane is our only resort offering fractional ownership.

To learn more on fractional ownership I highly recommend the fractional conference held annually by Ragatz (See here for there homepage). I have attended before, it is pretty intense but very beneficial to anyone thinking of purchasing a fraction or actually doing a fractional development.  Fractional developments can be from one property to multiple within a resort setting, these are also known as “Private Residence Clubs.”

The highly anticipated Apes Hill golf and polo gated community has its first villa under construction.

THE high-end segment of the multi-million dollar Apes Hill residential development project has gotten under way.

This was revealed last week by James Burdess, Sales Director of Moonwalk Construction Inc., the developers of the “Moonshine Ridge” segment of the much-talked- about St. Thomas project.

Burdess told Business Monday at a site visit to mark the commencement of the construction of the company’s show home, that when completed in approximately five years’ time, the project, which is being developed on an area of about 25 acres, will have a total sales value of between US$150 million (Bds$300 million) and $160 million (Bds$320 million).

He stated that 31 lots are being developed for sale, with each lot being between a half acre and an acre, with the houses being built on them ranging from approximately 4,200 square feet to 9,500 square feet.

See full article in today’s Barbados Advocate: Ground broken on housing project

A very popular guide to Barbados’s real estate scene, now easy to download and have at your fingertips!

Click here!

Article released today in the Freeport News, a Bahamian Newspaper.

Naturally it is focused on the Bahamian property market, but also includes some interesting information on Condominiums in general.

A must read for anyone interested in vacation property investment.

Click here to read full article.