Abode2
The essential guide to the finest in global luxury property
NEW YORK STATE OF MIND G o i n g g re e n i n t h e B i g A p p l e
REIGN IN SPAIN Designer living in high-style Barcelona
INTO THE BLUE Marina homes with set sail appeal
Wanderlust havens with Kelly Hoppen
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Chalet karma in Chamonix
George Clooney’s ultimate lakeside retreat
9 772051 796003
PEAKY BLINDERS
11
Volume 2 Issue 11 £6.95
Catwalk home design with Kate Moss
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Interior Design & Architecture Private Residences Show Homes Investment Property Furnishing
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www.aji.co.uk Berkeley Square House
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LONDON
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W1J 6BD
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+44 (0)207 887 7604
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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. Our Spanish Showroom and distribution centre will be open from January 2016. Please call or email j.aylmer@oceansint.com for further details.
www.oceansrattanfurniture.com
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+ 44 (0)1295 662200
info@oceansint.com
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“Understated Elegance, Enchanting, Spiritual, Ethereal... A Property to Own and Cherish.” MONTEGO BAY, JAMAICA – OFFERED AT US$ 9,450,000 SILENT WATERS VILLA - “5 STARS” - VILLA RENTAL PROPERTY, as consistently rated by TripAdvisorTM, EXPEDIATM and other organisations. This 10 bedroom ultra-luxury villa for sale in Saint James Parish is just 4.6 miles west of Montego Bay and Sangster International airport. Offering price includes most furnishings and artwork. To register your interest contact: information@jamaicavillas.net Or call +(1) 847 304 4700 Jamaica +(1) 876 971 9119 US +(1) 847 304 4700 www.SilentWaters.net
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Welcome “No winter lasts for ever and no spring skips its turn” Hal Borland, US author Spring is without doubt my favourite time of year with the promise of new beginnings and a bounty of ‘can do’ spirit in post hibernation bloom. It’s also the season when property buyers flood the market after a spell of cosy fireside contemplation and properties begin to sprout the familiar “for sale” signs. But just because it’s the most popular time to buy a home, doesn’t necessarily mean it’s the right time. So if you’re deciding whether to kick-start your property search in earnest with immediate effect or wait until the initial frenzy passes, it might be worth reflecting on the following seasonal indicators: The transitional period from winter to spring brings a natural lull in the purchase calendar, but it can also represent the perfect time to grab some one-to-one attention from agents, as clients tend to be thinner on the ground. Play your cards right and you’ll also get advance warning of properties coming onto the market later in the year, giving you the chance to get a first crack at them.
This Issue – Hot Picks Sun
Beachfront Bounty in Barbados
City
Post spring fever can be a prime time to negotiate. Sellers have typically found their market ‘level’ and will be more inclined to entertain competitive offers to avoid running into the summer hiatus. Lenders may also be willing to negotiate closing costs to win business from a smaller buyer pool. For those on the hunt for a home abroad - remember that peak selling periods are heavily influenced by climate. Destinations such as Thailand and the Caribbean have less pronounced investment peaks and troughs, thanks to year-round warm weather. Fourseason locations such as Canada and The States on the other hand, suffer from cold spells where home sales slow to a crawl and will often see bigger differentials as wallets thaw out. If it’s optimum choice you’re after – you can’t beat the busier spring and summer seasons with their bounty of supply as buyers pull out all the stops to woo a burgeoning investor audience. Just be mindful that sellers may be more stringent on price and bat away offers that come with contingencies or requests.
High Style in The Strand
Ski
Ultimately, the best time to buy a house is when it’s the right time for you. Most of us feel some kind of geographical propriety – where you are is a huge part of who you are. Wherever you go, just make sure you figure out a special way to make that place yours. Give it the TLC it deserves.
Peak Perfection in the French Alps
Happy nesting!
Style
Laura Henderson Editor
Find us on Instagram Email me at Follow us on Twitter Get inspired at Check out our pins on @abodetwo editor@abode2.com @AbodeTwo www.pinterest.com/abode2 www.abode2.com
Stylish Slumber with Anouska Hempel Volume 2 Issue 11 // Abode2 9
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L I VI N G O U TSI D E T H E BOX
A selection of 2,3,4 and 5 bed houses and apartments in the beautiful village of Freshford on the edge of Bath in Somerset.
An exceptional scheme of 2 and 3 bed apartments in Dartmouth overlooking the harbour and the Royal Naval College. All apartments have balconies, garaging and storage. Stunning penthouse with roof garden and outside summer kitchen.
A selection of 2 and 3 bed houses and apartments in the quintessential Cotswold Village of Minchinhampton, Gloucester. Age 55 +
P
CALL 01732 848316 OR VISIT ENVIRONCOMMUNITIES.COM BATH EASTON NR BAT H
WINGHAM
N R CA N T ERB U RY
BE ARST ED
N R MA ID STO N E
2 and 3 bed houses and
2 bed houses and apartments in
2 bed houses and apartments in in
apartments set around a wildlife
the heart of this historic village in
this sought after village sitting at the
meadow. Age 55+.
The Garden Of England. Age 55+.
foot of the North Downs. Age 55+.
(Subject to planning)
(Subject to planning)
(Subject to planning)
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Contributors
Kelly Hoppen
Cheryl Markosky
reveals her favourite globetrotting hotspots on page 210
samples the height of chic in luxury ski chalets on page 82 Fondest holiday memory - Staying in a Dayak chief ’s longhouse in Borneo.
Fondest holiday memory - I always loved going to Capri as a child. I used to stay at the Scalinatella Hotel. It has the best food and most amazing service. Most enjoyable time-wasting activity - Sipping organic tea with scented candles perfuming the air. Top travel tip - Load up your iPod. Nothing beats a good playlist.
Laura Whateley
Most enjoyable time-wasting activity - Treading water in the Caribbean at Pinney’s Beach, Nevis. Top travel tip - Go where the locals go to really get to know a place.
Jane Slade
catches up with award-winning interior designer Jessica Zoob on page 160
reports on the transformation underway in London’s Strand on page 94
Fondest holiday memory - I’ve been lucky enough to travel lots for work to some fabulously exotic places, but on rainy days I still daydream about being sat on a beach in France with a can of beer and a takeaway pizza on the first cheap camping trip I took with my other half.
Fondest holiday memory - September 2007. Drinking a chilled glass of Sancerre 8,000 feet high on a promontory overlooking a snowy mountain wilderness, after walking through the Himalayan foothills to Leti 360, our remote and wondrous honeymoon destination.
Most enjoyable time-wasting activity - I’m afraid I’m a bit of an online shopping addict, so losing myself in the depths of Net-a-Porter or Asos when I should be meeting a deadline.
Most enjoyable time-wasting activity - July and August. Watching the baby storks take their first flying leaps from their nests perched on the pylons in the fields and hills surrounding our apartment in Sarigerme in Turkey.
Top travel tip - Buy a socket adapter for the aeroplane so you can use noise cancelling headphones to watch films on long haul flights. My best purchase ever.
Top travel tip - Always pack two pairs of sunglasses and a pair of binoculars.
Abode2
Managing Editor Laura Henderson Production Editor Colin Halliday
Features Editor Serena Templeton Editorial Designer Kellie Mills
Asia Editor Fei Meng
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
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 CPUK Print Publishing Great Staughton Cambridgeshire PE19 5DA Registered in England & Wales No. 08580992
Distributed by COMAG (Conde Nast) Specialist Tavistock Works Tavistock Road West Drayton Middlesex UB7 7QH
© Serious Publishing Ltd 2016. 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 11 // Abode2 11
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Abode2 Contents
84
120
Destination Ski
38
Winter Sun
Relocation
98
Luxe London 9 ED’S WELCOME 11 CONTRIBUTORS 18 TRENDING
Property news, views and events from around the globe
26 DESTINATION USA
Going green in the Big Apple
38 WINTER SUN
Gourmet retreats in la belle Provence
54 WATERFRONT LIVING Cover: New York State of Mind www.abode2.com
Luxury homes with set sail appeal
74 PORTFOLIO LIVING
The future of fractional ownership
84 DESTINATION SKI
Chalet chic in the French Alps
98 LUXE LONDON
The renaissance of the Northbank
120 RELOCATION How to retire in style
140 SPORTING ESTATES The glory of Gleneagles
142 MONACO
Prime time pied-à-terre investments
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Abode2
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Abode2 Contents
142
152
Monaco
Garden Design
134
210
Sporting Estates
And Finally - Kelly Hoppen
150 DESIGN AND INTERIORS Anouska Hempel feature exclusive
164 SMART LIVING
The latest technology wonders for the home
180 CARIBBEAN CONNECTION Barbados Special Report
194 ABODE2 PORTFOLIO 210 AND FINALLY
My Secret Globetrotting Address Book with Kelly Hoppen
180
Caribbean Connections
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Showrooms
9 The Pavilions, Ruscombe Business Park, Twyford, Berkshire, RG10 9NN 0118 932 0828 info@lidacucina.co.uk www.lidacucina.co.uk
76 Queenstown Road, Battersea, London SW8 3RY 0207 720 8311 info@pedinilondon.co.uk www.pedinilondon.co.uk
Opening Hours: Monday to Friday 9.30 - 5.30 (London and Berkshire) Saturday 10.00 - 4.00 (London only) Pedini London is a trading division of Lida Cucina Ltd.
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Hand crafted in England
See our full range of products www.simpson-london.com info@simpson-london.com
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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 laptop, tablet and phone. The simple-to-navigate content means that it’s now even easier to explore the best in luxury resort real estate. www.abode2.com
ts m m
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TRENDING
SKY HIGH DUBAI KNIGHT FRANK’S 2016 GLOBAL CITIES REPORT has marked Al Maktoum International airport in Dubai as among the largest infrastructure schemes currently under construction globally, helping to shape the future of the city, generate business clusters and create real estate opportunities. In 2014, Dubai International overtook London Heathrow as the world’s busiest airport for international passengers – handling around 70 million travellers. But with the numbers passing through Dubai expected to hit 100 million by 2020, and current scope for expansion at Dubai International limited, Al Maktoum International airport is being developed as the city’s future super airport.
Greek Odyssey THE LUXURY REAL ESTATE MARKET ON RHODES is starting
TEE TIME
to stabilise now that Greece’s future in the Euro seems secure, reports international real estate consultancy Engel & Völkers. The company reports that enquiries for high-end residential property have increased by 20%. Georg Petras, partner at Engel & Völkers on Rhodes comments: “The financial crisis has had a weaker impact on the price structure of the luxury second home market on Rhodes than on the market for first homes. Luxury holiday residences did drop in value slightly during the crisis. But prices are now on the rise again, thanks to the high demand. From this point of view, now really is an opportune time to invest in Greek real estate.”
WHEN YOU THINK OF THRIVING DESTINATIONS for golf resort communities - places like Florida, Spain and Portugal spring to mind. But the Okanagan Valley, a relatively unknown high-desert region of British Columbia, Canada, has made great strides in becoming one of the world’s leading getaways for golf, wine and attractive real estate opportunities for foreign buyers. A case in point is the luxury masterplan community of Predator Ridge. Owners can enjoy unlimited access to a myriad of luxury amenities from championship golf courses through to hiking and biking trails, bespoke wine tours and gourmet dining. Stunning four-bedroom designer homes with golf course views in the Whitetail community are selling for £715,000.
CBRE’s newly released Global Living Report: A City by City Guide, confirms Hong Kong continues to hold its position as the world’s most expensive residential location with an average of $1,416 per square foot.
London’s soaring technology, creative and financial industries are fuelling a mini property boom in locations such as Canary Wharf, Docklands, Greenwich and Blackheath with property prices rising in some parts 50% faster than during the downturn.
Qatari Holding’s US$1.35 billion acquisition of Smeralda Holding, owner of four hotels, Porto Cervo marina and Pevero Golf Club on the Costa Smeralda, underlines the continuing importance of Sardinia to luxury buyers.
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PLANET OF THE APPS
PEAK PERFORMANCE DEMAND FOR ALPINE PROPERTY IS RISING,
spurred on by a more resilient Eurozone, greater clarity over tax and the second home cap in Switzerland, as well as a weaker euro. Val d’Isere and Meribel in France have seen the biggest annual growth in property prices with a rise of 5.8% and 4.5% respectively, according to the
2015 Ski Property Index which tracks the price performance of prime ski chalets across 15 key resorts in the French and Swiss Alps. Prime sales activity in the French Alps is focussed between €1.5 and €2.5 million with resorts such as Chamonix and Courchevel 1550 increasingly popular.
Catwalk Creation SUPERMODEL KATE MOSS HAS BECOME
the latest celebrity to launch a design career, creating interiors for a house in the English countryside. For her makeover debut, Moss has teamed up with Yoo – the architecture and design company co-founded by property entrepreneur John Hitchcox and prolific French designer Philippe Starck. Moss has modelled the interiors for The Barnhouse – a £2.5 million five-bedroom house located in The Lakes – a development of luxury holiday homes on a 263-hectare estate in the heart of the Cotswolds.
Residential property sales in Turkey increased by 6.5% in the final quarter of 2015 with strong growth in purchases by foreign buyers. The data from the Turkish Statistical Institute (Turkstat) shows the number of international buyers has increased 15.2% year on year.
Roof terraces strong enough to take a helicopter’s weight, squash courts in the basement and car galleries to display vehicle collections are among some of the most extravagant home buyer requests in the prime London market. A south facing outdoor space however still remains the most common request in London property searches.
Behance This user-friendly app allows users to quickly upload images of their designs to build digital portfolios. Those in search of visual inspiration can narrow down the thousands of accounts with options that refine by creative field, location or what’s currently en vogue. The app is also compatible with Apple TV, so images can be shown in full detail on a bigger screen. MagicPlan Transform the painstaking ordeal of taking measurements and drawing up floor plans into an effortless process. This idiot savant of interior design can compute distances within a space simply by analysing a snapshot. Annotate photos of your space with the height of the ceiling or the width of the hallway, and never get stuck outside with a piece of furniture that won’t fit through the front door again. Curate Gone are the days spent squinting at a painting, drawing or lithograph and puzzling over how it will look in the context of your home. Curate allows you to virtually display the piece - simply upload a photo of any blank wall and you’ll see your artistic treasure in situ. Browse pieces from your favourite artists and you’ll never be left hanging (while hanging art) again.
Wealthy property investors are increasingly adding vineyards to their global portfolios. Wine making regions in the United States and New Zealand are leading the rankings, although France’s most favoured wine making regions, Bordeaux and Burgundy have estate prices holding firm.
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Straightforward Expertise Coleman Marine Insurance is our highly specialised marine division, tailoring bespoke solutions for all aspects of superyacht, yacht and motorboat insurance. As a truly independent broker we represent our clients’ interests to negotiate with specialist marine insurance providers – with strong, long standing relationships with leading composite Insurers and syndicates in Lloyd’s, providing direct access to this important marine insurance market.
LA ZAGALETA MARBELLA • SPAIN
A full 24 hour/365 day claims management service is provided by staff working closely with a network of leading global marine surveyors and loss adjusting firms.
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.
+44(0)1202 647 400
thecolemangroup.co.uk
info@cyan-ltd.com +44 (0) 1628 94 70 70 cyaninternationalproperties.co.uk Coleman Insurance Brokers and Coleman Marine Insurance are trading styles of E Coleman & Co Ltd which is authorised and regulated by the Financial Conduct Authority. Image courtesy of Sunseeker International Ltd ColemanVolume2 InsuranceIssue11.indb Brokers Full Page Abode2 22 - Abode FINAL edit.indd 1 Abode2_Volume2_Issue9_Cyan_International_Properties_Ad_FP_rev.indd 82
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Abode2
The essential guide to the finest in global luxury property
TRY TWO ISSUES
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
A SAVING of 40% delivered direct to your door
TWO EASY WAYS TO SUBSCRIBE visit www.abode2.com - click on Subscribe Call 0800 032 9367 - 9am to 5pm weekdays
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Precision Style In this case study commission, Brazilian architect, Carlos Rossi, successfully imprints his client’s passion for art with the subtleness and contemporary character of his own innate design style. The blending of neutral tones and soft textures, together with wood and stone creates a warm and sophisticated living environment that is characteristic of the architect’s Signature approach to design; one that Rossi evolves and fine tunes working out of his studio in the heart of São Paulo. David Rechulski, founder and partner of award-winning Brazilian law firm David Rechulski Advogados (www.dreadv.com.br), invited Rossi to transform his private office suite into a contemporary and bold work space. Rossi embraced the light, airy feel and generous square footage of the penthouse space maximising dimensions with an open double height ceiling. The clean and ingenious staircase, made of wood and glass, creates an effortless integration between the conference table and lounge area, both located in the first floor, with a well-proportioned workspace in the mezzanine. 24 Abode2 // Volume 2 Issue 11
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DESIGN MAGIC
Carlos Rossi 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
Unique art pieces stand as focal points in the room displayed strategically amongst the neutral elements as a contrast talking-point. The bright, imposing bookshelf showcasing a bespoke collection of novels and periodicals accentuates the room’s amplitude. A final statement piece - the imposing standalone green wall composed of native Brazilian vegetation, seamlessly ties together the uniqueness and audaciousness of this beautiful living environment.
+55 11 3045 6666 carlos@carlosrossi.com.br www.carlosrossi.com.br Volume 2 Issue 11 // Abode2 25
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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
DESTINATION USA
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
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DESTINATION USA
Design in R
Award-winning interior designer Ann Marie Hess lets Abode2 in on her jet-set style secrets
mind
enowned international interior designer, Ann Marie Hess, launched AMH Interiors in London in 2012. From early on, the company had an ambitious vision - expanding both its global reach and reputation with high profile nominations two years in a row for the SBID (Society of British Interior Designers) International Design Awards. With a unique design pedigree; one that originally stemmed from a career in the fashion industry, Ann Marie’s career began as a student at the Fashion Institute of Technology in New York City; her eclectic taste and natural eye for style quickly transitioned from fashion to interiors after she purchased her first home. Working on a limited budget, she honed her creative talents and developed a wide range of interior design skills. After completing the renovation and selling the property at a profit, the next
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makeover challenge quickly followed, with Ann Marie’s design magic taking hold once again. Over twenty years spent in residential and commercial development combined with a globetrotting spell to different corners of the world, has seen demand for Ann Marie’s elegant and timeless design aesthetic grow. So too, has her portfolio of commissions across Europe, the UAE, and the States. With the launch of AMH Interiors – the brand continues to expand with offices in the UK, as well as the USA in Naples, Florida and Philadelphia. Clients can now enjoy Ann Marie’s personalised approach to interior design; one that delivers a distinctive sense of style unique to each one. She explains: “Designing a home is an organic and intuitive process. The way you go about creating this most personal of settings not only involves fundamental decisions about your individual style, but also about the way you choose to live.” With a flexible approach and a keen understanding of the psychological impact of design, Ann Marie uses her knowledge and expertise to help build a personal signature, from the smallest creative detail to the cohesive blend and impact of an entire scheme. Projects vary in size and style from small to grand; traditional to contemporary; personal to corporate. Whether searching for one exceptional piece to complete an established scheme or starting with a completely blank canvas - Ann Marie has the knowledge and experience to bring your interior vision to life. UK +44 20 7788 7767 USA +1 239 261 9149 www.amhinteriors.com
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Your New York City Journey Home CityRaven is a real estate marketplace connecting top real estate agents from the best firms in New York City to busy homebuyers and renters looking for a time efficient and highly customised home buying and renting process. § Our mission - to make the home buying and renting process customised, easy and efficient for everyone involved § Discover your home, select and prioritise your real estate professional, streamline your buying or renting process § Decide in seconds if a neighbourhood matches your personal interests and lifestyle
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§ We select our real estate professionals from the best firms in New York City. They are allowed on our marketplace by invitation only. You can further streamline the selection based on personal preferences
+1 212 634 9532 § val@cityraven.com
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The Journey Home Your Way
www.cityraven.com
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Premier DeveloPers We are pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin. Oral representation cannot be relied upon as correctly stating representations of the developer. For correct representations make reference to the documents required by section 718.503, Florida Statues, to be furnished by a developer to a buyer. Obtain the property report required by federal law and read it before signing anything. No federal agency has judged the merits or value, if any, of this property. All features, dimensions, drawings, graphic material, pictures, conceptual renderings, plans and specifications are not necessarily an accurate depiction and are subject to change without notice, and RIVA-139 Abode2_sprd_JAN.indd Developer expressly1 reserves the right to make modifications. BSP Job #: RIVA-139 Abode2_sprd_JAN Client: RIVA Description: RIVA Ad Mech: 1 Date: December 18, 2014 9:42 AM Mech Person: GU PUB: Avenue Magazine
Abode2 Volume2 Issue11.indb 32 Abode2_Volume2_Issue7.indb 114 RIVA-139 Abode2_sprd_JAN.indd 1
Size: 420mm x 297mm Spread Bleed 3mm
Color: 4c
Material: PDF
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The one in Fort Lauderdale they’re all talking about.
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. Visitisour salescondo gallerythat just every north agent of Sunrise, across the has river at from Riva thewaterfront new riverfront who sells luxury the Galleria top of their list. andevery the park. Entrance drivetoatlive 1180 N. Federal Hwy. +1.954.233.3288 And buyer who wants on the water has squarely in their sights.riva-condo.com. 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 La Dolce Vita Entrance Where thedrive RiveratMeets and the park. 1180the N. Park. Federal Hwy. +1.954.233.3288 riva-condo.com.
La Dolce Vita Where the River Meets the Park.
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This charming, Manor House with panoramic views of the Esterel Mountains is located in peaceful countryside, surrounded by picturesque hilltop villages and yet not more than 30 mi足nutes from Nice International Airport and just 20 minutes from the beaches of Cannes. Dating from the 15th century, this chiselled stone Provencal Bastide has been recently renovated respecting its original features but adding all modern comforts, nonetheless retaining its refined and elegant style. Consisting of two separate houses, each generously proportioned and beautifully appointed, with individual 20 metre heated swimming pools, the property enjoys vast terraces and intimate areas overlooking the rolling hills, for whiling away the time... This extraordinary home is set in wonderful landscaped gardens with century old cypresses and olive trees, fruit trees and a vineyard located near a pretty stone cottage with fireplace for relaxing evenings. An elevator can take guests from swimming pool level to the ground and first floors of the main house. The pool facilities include an outdoor kitchen and two fantastic high ceilinged rooms with an ancient well, and space to create a full Spa facility. The perfect place to enjoy the summer months. Ref.5340.
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WINTER SUN
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.
•
How can companies like Nerc add value?
•
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.
•
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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WINTER SUN
French Fancy A haven of peace and pastoral luxe – boutique hotel offerings in Provence take the pleasure principle to a whole new level, as Laura Henderson discovers
E
ver since Lord Brougham stumbled upon the deep blue waters and cassia plantations of Cannes in 1834, Brits have been flocking to France’s southern belle region of Provence. The 1960s firmly established the area as Europe’s ‘ultimate’ summer retreat, with a growing throng of sumptuous villas and luxury hotels opening up. Running from Hyeres in the west to La Napoule in the east, the Côte d’Azur remains the region’s most desirable coastal stretch, embracing a cluster of quaint fishing villages turned pleasure ports such as Le Lavandou and St-Raphael; stately Belle Epoque mansions and boutique resorts in sought-after locations ranging from the traditional Corniche d’Esterel to the showy chic of St Tropez. For visitors looking to escape the Riviera glare however, there’s nowhere more endearing than the region’s rugged arrière-pays. This aromatic garrigue-covered hilly hinterland provides welcome respite from the coastal buzz. Landlocked Vaucluse encompassing the Parc Naturel Regional du Luberon has a wealth of picturesque villages scattered across its rustic countryside, while the principal towns of Orange and the departmental capital Avignon offer a cultural fix with their lively café scenes. One serene rural hideaway engaging in-the-know visitors for over four decades is the idyllic Benvengudo country house hotel in the valley foothills of bastide town Les Baux de Provence. The stay-and-play concept of celebrated hoteliers Carole Beaupied and Victor Peutzer; the hotel was one of the first establishments to join the elite post-war genre of boutique accommodation with luxury trimmings. Opening its doors again last year after a top-to-toe makeover – this graceful shuttered mas still has a centuries old feel; tasteful new additions to the hotel’s accommodation bringing an added touch of laid-back luxe to the offering. Fragrant blooms, indigenous trees and vibrant foliage
conspire to create a serene and green setting for guests; the focal point of which is the hotel’s thriving organic garden bursting with unusual varieties of fragrant herbs together with tomatoes, soft fruit, courgettes and beans; fresh produce which resident chef, Mathieu Groshenry, creatively integrates into the dining repertoire at the hotel’s award winning restaurant. Accommodation options embrace a bespoke yet diverse portfolio – junior suites, family suites, self-contained apartments and 19 luminous rooms decorated in graceful
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Provençal style fabrics – a mix of rich and muted tones. Bedrooms are comfortable and spacious and sport large French-windows that open onto private terraces and secluded gardens. Modern day luxuries haven’t been overlooked either with flat screen TVs, and broadband fitted as standard, while well-equipped bathrooms sport ceramic fittings and vintage mosaic tiles. Embracing the present while preserving the quintessential charms of yesteryear is what the Benvengudo experience is all about – the pleasure principle here is truly la France profonde at its best. www.benvengudo.com
DINING AT THE BENVENGUDO A terrace decked with elegant wrought iron seating, Jacquard linen table décor, silver service and a landscape that changes with the seasons – dining at Benvengudo is a memory to treasure. Resident chef Mathieu Groshenry is passionate about local Provençal produce and invites you to discover a different menu everyday based on fresh seasonal products including organic vegetables, herbs and AOP Vallée des Baux olive oil from the surrounding family-run estates. Mathieu is a master of gracious dining, preparing exquisite entrées such as veal carpaccio with capers and roasted scallops encased with spinach through to main course specialities including sea bass with butternut confit and wild honey. Pâtissier delights for those with a sweet tooth completes the haute cuisine dining experience with a tempting repertoire of desserts – fresh fruit tajine and grand cru chocolate mousse with a compelling strawberry and rhubarb savarin. If you’re looking for things to do during your stay, the hotel regularly runs cookery classes. Discover classic regional recipes and menus, learn how to cook with fresh, local ingredients and recreate the world famous Provence cuisine.
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WINTER SUN
CHÂTEAU DES ALPILLES Van Gogh had exquisite taste. Drawing inspiration from the St Remy de Provence countryside for many of his famous works – chances are one of his pastoral backdrops was the setting for the present day beauty that is Château des Alpilles. Set in 7 acres of majestic parkland, this 19th century Great House on the outskirts of St Remy is steeped in yesteryear charm. Initially a simple farm steading - legend has it that this rural land belonged to a 13th century knight. It’s easy to see why he chose this area. Lush gardens, canopied plane trees and fragrant lily ponds provide the perfect environment to chill-back. Perhaps that’s why during the 19th century the aristocratic Blain family chose this delightful spot to construct a grand country retreat to entertain France’s top political and literary figures. But as the family’s fortunes receded, so did the property which eventually fell into picturesque disrepair. Fast forward to 1979, the Bon family saw the estate’s potential and set about restoring it to its glorious best. The result is something rather special – a graceful, comfortable and welcoming residence, with tastefully converted outbuildings, run by mother and daughter team Francoise and Catherine Bon. A shady walk up the estate’s imposing driveway flanked by a row of stalwart 200-year old plane trees, brings you to the main château entrance; inside, a graceful suite of day rooms filled with leather chaises longues, antique drapes and vibrant pop art. Guests are spoiled for accommodation choice.
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Bedrooms with their high-ceilings, Souleidao fabrics and velveteen walls, all maintain a flow of high elegance. Combining period style with the same high style home comforts; the ceiling beamed apartments and suites in the outer buildings have a spacious, open-plan layout; perfect for larger groups and families. Boasting accommodation for up to 12 guests - the Suites at The Cypress Farm are contemporary in style with bleached woodwork, leather furnishings and art nouveau lighting. Ideal for couples meanwhile, the Old Wash House sports three light, airy bedrooms decorated in a rustic style and comes with its own private terrace and solarium. The sprawling grounds are a sensory delight – lily adorned garden canals, stone terraces with fragrant urns of flowers, beds brimming with lavender, rosemary and miniature fruit trees. Leisure facilities include a heated pool, clay tennis courts, boules lawn, sauna, and guest library. Heading up the hotel restaurant Chef Mathias Bettinger, is a seasoned hand at preparing sun-filled dishes to satisfy the palate of the most exacting gourmets – mouth-watering carré d’agneau roti (roast lamb) with Herbes de Provence, tickling the palate with a Trilogie Provencale of artichokes Barigoule, eggplant gratin and croustillant de chevre chaud (goats cheese). Dessert might be Nougat Glacé with a coulis of summer berries or exquisite fondant au chocolat (warm chocolate sponge) with homemade pistachio ice cream. For after dinner cocktails, the Corbusier and Cassina-furnished bar welcomes you in convivial surrounds. Summer at the Château is particularly enchanting. There’s something about dining under the plane trees, or simply taking a cool-off dip in the pool – it sets the scene for total intimate relaxation. www.chateaudesalpilles.com Volume 2 Issue 11 // Abode2 41
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COMMERCIAL
HOTELS
COMMERCIAL
BUY-TO-LET
RETAIL
“Profits and benefits with commercial real estate in Barcelona” Fabio del Alisal, Lawyer business@deluxelocations.com
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BARCELONA 28/01/2016 09:26
RESIDENTIAL
LUXURY VILLAS
PENTHOUSES
CONTEMPORARY APARTMENTS
STYLISH STUDIOS
www.deluxelocations.com CALL US AT +34930085152 info@deluxelocations.com
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“Buy the finest houses with the finest agency in Barcelona” Kateryna Matsepura, Director kateryna@deluxelocations.com
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33VLCC_AF_ANUNCIO I ABODE2 Mag 2015.pdf
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WINTER SUN
Livin’
La Vida Blanca A myriad of ingredients goes into choosing the right location. Serena Templeton assesses what’s on offer on the Costa Blanca
A
perennial favourite with the British holidaymaker and recognised by the World Health Organisation as one of the healthiest regions in the world, Spain’s very own Florida certainly packs a punch when it comes to lifestyle locations. Boasting some of the cleanest stretches of blue flag beach in Europe, the Costa Blanca also tops the microclimate charts with a record 320 days of sunshine a year, and winter temperatures that rarely drop below 12 degrees C. Add to this, a generous sprinkling of quality links golf courses, salt lakes, forests and a mountainous hinterland, and you’ve pretty much captured the white coast’s charm. The region manages to encapsulate so much of what we all know and love about Spain, combined with perfect weather, ease of accessibility and a thriving and well established expatriate community of ready-made friends. Even the 40-year+ staple of more intensive development around the lively resorts of Benidorm and Torrevieja, has recently been eclipsed by the latest selection of luxury residential developments and rural restorations located further north near the Marina Alta, proving that when it comes to attracting new interest and investment, the region
has a healthy outlook in more ways than one. "Today’s buyers are much more switched on than earlier waves of house hunters," confirms Eugenia Navarro Garberi of luxury developers Maisa. "Choice has widened considerably, and the majority are no longer just looking for a ‘bolt hole
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in the sun’, they’re seeking a step change in their standard of living and a move to a location where quality of life is still a valued asset.” Local agent Maria Grayon agrees: “The Costa Blanca’s warm dry climate is a particular draw for those settling here on a permanent or semi-permanent basis. As a rule, we spend considerably more time outdoors as offices tend to close from two until five until the heat has died down, so it’s not hard to imagine the cumulative effects on one’s general well-being that come with a regular round of golf or a game of tennis compared with a snatched lunch, wolfed down at your desk between emails. The strong upturn in lifestyle tourism has also fast tracked leisure provision, with a choice of over 30 golf courses, around 20 marinas and numerous sailing, surfing and diving schools now operating along the 150+ kilometre stretch of coast.” For house hunters pruning their location list, heading north may prove to be something of a challenge with a vast choice of property on offer, ranging from restored rural fincas in the Jalón Valley, to panoramic hilltop villas on the coast. Topographically diverse, the landscape is big on the great outdoors-mountain views and lush green hills inland are a particular favourite with hikers, bikers and climbers, especially around the Sierra de Altana with ranges for both beginners and more proficient climbers. The dramatic coastline dotted with upmarket resorts and unspoilt villages, is also a haven for land and sea lovers alike. Jávea Golf Course is one of the best in the area and only a short driving distance from the equally impressive 18-hole Club La Sella course at Dénia, designed by local hero, José Maria Olazabal. “Golf has reached biblical proportions here, with a large number of our members from overseas,” confirms
La Sella spokesperson Jason Seed: “With our temperate yearround climate, you can golf every day, which is an ideal form of low-impact exercise and a painless way of walking off a few thousand calories round the four to eight mile stretch of fairway.” For those more tempted by marina waterfront attractions, Dénia, Jávea and Moraira draw boating sophisticates from around the globe. “The north is decidedly more relaxed than the south,” suggests Debbie Whyman of Casa Connections. “Although growth has been measured, it’s still managing to avoid the pattern of coastal development further south, which has traditionally set its sights on the high volume, economy market. Add to this, increasingly strict planning controls in the area, notably the protected national parkland around Dénia, and you’re more or less guaranteed a safe long-term investment in an unspoilt area.” Keen to retain its Moorish charm, only a restricted number of low-rise community villas and competitively priced townhouse complexes near the coast currently have development approval, but are fast attracting the younger buyer, with more convenient, easy access facilities, than a traditional rural setting. Their hallmark - high quality build, superior landscaping and a feeling of exclusivity, backed by members’ only on-site leisure facilities. For some however, heading away from frontline beach property can bring a wider choice of outdoor activities within closer reach as Maria Grayson suggests: “Choose wisely inland, and you’ll have the best of both worlds; nature on your doorstep to explore by bike, horse or on foot, plus the coastal benefits just a short drive away. Horse-riding is especially popular around here, with the Club Hippique equestrian centre in Benissa. Resale and new build property around the nearby quintessentially Spanish towns of Alcalali, Benichembla and Parcent in the Jalón Valley, are worth considering as prices can be as much as 30% cheaper than on the coast. And you tend to get more land for your money.”
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WINTER SUN
Vision If you aspire to designing, building and owning your ideal home in Spain, Cosan Development has award-winning architects to help you realise your dream property
W
ON
hether it’s a beautiful villa in Spain with sea views, overlooking the golf course that sets your heart racing or a luxury retreat tucked away in the peaceful countryside, Cosan Development’s expert team are there to help you every step of the way. The company is a sub-division of Grupo Fercosan which has been established since 1968 and has constructed more than 3,000 properties on the Spanish Costa Blanca. A family-run business with its Head Office based in Torrevieja (Alicante) and a second satellite office in Teulada-Moraira, on the Northern Costa Blanca coast, a new branch has also recently opened in scenic Estepona (Costa del Sol) to assist clients in this popular region of Spain. Cosan has long-standing partnerships with a number of award-winning architects and engineers, as well as one of Spain’s leading architectural firms based in Madrid. In fact our custom-build and design service spans the whole of Spain. With more than 800 ready build plots of land available - we are able to customise self-build requirements to suit individual client needs from preferred location, outlook, size of plot and size of property through to the finer touch point details essential to make your property complete. An integral part of the service we provide includes a tailored inspection trip so you can get to know the region, view location
options and visit completed properties and show homes as well as review design and style options available. All Cosan homes are built using premium quality materials including Italian designer kitchens, BOSCH electric appliances, LG ducting air-conditioning systems, electric shutters, Porcelanosa flooring, swimming pools, electric car gate, video entry systems and much more. It is also possible to personalise build spec based on clients’ individual wish lists with specific requirements such as a cinema room, indoor pool and spa area, wine cellar, and integrated smart home technology. All properties are turnkey so ready to move into as soon as you are. All you need bring is your chosen furniture (although Cosan can help with that too). Cosan Development currently has detached villas with three bedrooms and two bathrooms, private pool and plot starting from €265,000 on the Costa Blanca. On the Costa del Sol similar properties are available from €350,000.
FOR MORE INFORMATION www.cosan-development.com www.facebook.com/cosandevelopment www.pinterest.com/cosan123
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Abode2
Custom Build Excellence Cosan Development based in southern Spain ranks among the very best Custom Design and Build Partners delivering a seamless service from start to ďŹ nish. Our residential collection includes golf-fronted plots, state-of-the-art turnkey villas and luxury beachfront homes. Prices start from â‚Ź265,000.
COSAN Development SL Avenida de las Habaneras 50, 03182 Torrevieja
+34 652 214 929
Avenida Mediterraneo 133-135 , PL 2 , L5 , 03725 Teulada
+34 634 331 346
www.cosan-development.com
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IBIZA only
the best
will do
LUXURY | EXCLUSIVE | PROPERTY SALES | RENTALS | CONCIERGE
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WATERFRONT LIVING
Ship
to Shore
Many countries are upping their game in maritime tourism – so where are the smart investors docking? James Matthews investigates
W
ith the worlds super rich returning to the high seas, property investors it seems, are also moving in to grab a slice of the best waterfront action. With a growing demand for marina properties that offer glamour, status, lifestyle, sea-sports and fun however, it’s interesting that for many marina projects, the sale of a boat mooring is just a tiny part of the investment decision - quite often the lion’s share of yield returns comes from the value added to the real estate. Says Denise Clancy of the Curasi Realty: “Marinas are increasingly taking over as the driver at the top end of the second-home market. Many property investors are working out that it’s extremely cost-effective to own a berth by their own front door. It gives their property a certain scarcity value and in many cases a safer ‘get-out’ clause when they come to sell. So if you’re fortunate enough to find a dockside home you like - stick with it.”
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DOCK HOTSPOTS New York Picture the Big Apple and waterfront resort living isn’t the first thing that springs to mind. But the stylish River & Warren development, an inspired joint venture between Centurion Real Estate Partners and Five Mile Capital, is out to change that. Located in Battery Park City - the southwestern tip of Manhattan - and the first uber-luxe residential project to take shape in this area; the development features a limited edition collection of luxuriously appointed 2-5 bedroom residences ranging in price from $1.425m - $10m. Creating the home style buzz is lead architect Nancy Ruddy of Cetra Ruddy whose prolific influence on some of Manhattan’s finest developments includes One Madison, Walker Tower and 443 Greenwich. Ruddy drew design inspiration from the Hudson River, which borders the building’s backyard, Rockefeller Park. As to who the project will appeal to, according to property consultant Peter Severin, River and Warren is perfect for those who want to live within the vibrancy of Downtown Manhattan, yet wish to make the most of the tranquillity of the beautiful river and parks that surround the property. “It’s the best of city living mixed with close-up nature. You’re at the edge of Tribeca, with its character and superb shopping and cuisine, yet you can make the most of the spectacular river and park views.” Cayman Islands Sitting pretty on the world famous Seven Mile Beach, the Cayman Islands Yacht Club is fast becoming a talking point location in this vibrant international community. A master planned development of low density - high value homes and estates with access to the full service marina and restaurant amenities of the Club, the community is just a short boat ride to the North Sound, a shallow sheltered body of water perfect for inshore sailing regattas, and only minutes away from the world famous Stingray City, Sand Bar and the island vibe of Rum
Point and Cayman Kai, not to mention upscale shopping at Camana Bay, the island’s premier mixed use retail development with world class boutiques, restaurants and entertainment. “A multi-million dollar refurbishment of the marina and facilities completed in 2014 has already raised the value of the surrounding residential area,” explains property consultant Derek Gifford. “The neighbourhood is well established with the communities of Salt Creek, Vista Del Mar and the Cayman Islands Yacht Club all accessed from Yacht Drive. Property prices run the gamut from £300,000 for a plot of land to selfbuild to upwards of £3.5m for a five-bed luxury mansion with all the trimmings.” Tuscany A state of-the-art marina set in breath-taking surroundings overlooking Elba Island and the Tuscan archipelago, Marina di Scarlino is positioned in the Tuscan Maremma, famous for its forested hills, natural beauty and sailing opportunities. Placed in one of the most sheltered bays in northern Tyrrhenian Sea, this strikingly contemporary yacht marina and leisure development provides 950 moorings for yachts up to 36m long; its shell-shaped harbour home to 39 contemporary turnkey apartments, three restaurants, shops and galleries, a beach club, spa and boatyard. Boasting countless leisure activities and yachting services: many factors contribute to the development’s charm. Embracing vistas of the port and the main square; all 39 apartments sport one or two bedrooms, a dining room with open plan kitchen and large panoramic terraces where you can enjoy the glorious sunshine of Maremma and contemplate the spectacular sunsets over the bay. For home owners looking to rent their property or simply chill back and be hands off on holiday – the full complement of resident services includes housekeeping, maintenance, gardening and even in-house catering. One-bedroom apartments with Great Estate Italian Properties are currently selling for £390,000. Volume 2 Issue 11 // Abode2 55
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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 11 // Abode2 61
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WATERFRONT LIVING
In the Pink
in Bermuda V
Steadfastly British, this staid retiree haven is reinventing itself as a funky, ‘flip-flops required’ getaway, says Laura Henderson
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 Shakira 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 enjoys one of the highest per capita incomes 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. A government cap on housing stock sold to non-nationals has further sustained values, with just a handful of residences in 2015 made available for sale to foreigners at an average price of US$ 4m. 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 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 $153,000 and $32,400 for condominiums.
•
Houses with a qualifying ARV start at around $4m and condominiums at around $650,000.
•
Non-Bermudian purchasers must obtain a license from the Minister of Labour and Home Affairs. License fees are 12.5% of the purchase price of a house and 8% for a condominium.
For more information, go to: www.gov.bm
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Abode2
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.
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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
THE RIPPLE Effect Homes in the Italian Lake district offer rich pickings from Belle Époque to contemporary chic and now is a good time to buy, says Laura Henderson
R
omantic poets Byron, Shelley, and Ruskin likened the translucent quality of the Italian lakes to the teardrops of unrequited lovers; potent prose that inspired many 19th century aristocrats to stake their love nest claim by building palatial villas on their pristine shores. These days, fresh-air lakeside living is more influenced by the surrounding culturally vibrant cities including Milan, Bergamo and Brescia (all just a few hours flight time from the UK), while the nearby upscale ski resorts provide a winter wonderland alternative to a carefree summer season of water sports. A location that has historically delivered strong investment and rental returns, over-development has largely been kept in check thanks to the National Park status of much of the surrounding countryside. Unlike Spain and Portugal – the recent recession saw no wholescale collapse of the Italian property market as local agent, Hanna Fitsner explains. “Home values were maintained by the cautious lending policies of
Italian banks, which led to fewer repossessions. Most Italians simply refused to accept the lower market prices and only sold if they were forced to do so. The result has been much smaller property booms in the 2000s – and fewer readjustments in the past few years.” Lack of liquidity has nevertheless contributed to a sluggish market of late; prices in the first quarter of this year fell by 0.7% from the previous quarter - 3.4% lower than in the same period in 2014. Favourable exchange rates are however helping to boost transaction levels from overseas as Beverley Rosen of Lake Como Properties confirms: “Sterling and the dollar are now at record highs against the euro making a second home purchase more attractive to buyers from the UK, and the States as well as expats seeking a stylish bolt-hole in the Mediterranean. Italian buyers, who looked outside the country for investment during the euro crisis, are returning to the top end of the market too – with frontline properties proving attractive propositions.”
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While traditionally, UK buyers have concentrated their investment interest around Lake Como, improved road access to neighbouring Lake Maggiore (now under an hour from Milan), is enticing them to consider alternative resorts such as Stresa, Baveno and Ghiffa. Lock-up-and-leave apartments which can be easily rented out are increasingly common, with supply of tastefully-furnished contemporary properties within converted period residences a key growth sector of the market. “Foreign buyers opting for restoration projects are few and far between but remodelled detached villas with lake views remain in steady demand,” adds Fitsner. Property prices are heavily dictated by view and location cachet; are the western shores of Lake Como between Como and Laglio commanding a sizeable premium. Entry-level prices for mainstream stock is nevertheless surprisingly competitive – turnkey two-bedroom apartments selling for upwards of £200,000, three-bedroom semi-detached houses from £500,000. Scaling the higher echelons of luxury living – detached period properties offer considerable scope for stamping one’s personality from farmhouses with generous outbuildings and vintage townhouses through to sumptuous Belle Époque residences; a budget of £2m securing you a detached lakeside villa with terraces and boathouse. Lake Garda The largest of the Italian Lakes meandering from the Italian Plains towards the Dolomites, palatial hotels, lemon groves and a dramatic fjord-like coastline draw tourists from far and wide. New-build homes tend to be low-rise, tastefully designed and holiday rental footfall is robust. Properties close to the lake vary from apartments or villas in small developments with shared pools, to larger modern villas often with spacious grounds, with a generous offering of new build projects. “You can pick up a property around Desenzano on the south west shore with a shared pool for about £160,000, but for anything with two bedrooms expect to pay £220,000 or more,” confirms Sue Mitchell of agents Vista Lago Homes.
Lake Como Sporting a rugged peak backdrop, the sloping foothills of the Alps and cluster of cosmopolitan lakeside towns, Lake Como is the quieter cousin to Garda, yet still attracts a healthy shoal of visitors to its vintage shores. Hugely popular with wealthy Milanese, most purchasers look in the first basin of Como’s Y-shaped lake, from Como town to the Bellagio peninsula on the east shore and to Menaggio on the west. The west is considered easiest for access to Milan’s airports and the Swiss border. Sought-after resorts for a waterfront bolthole include Cernobbio, Moltrasio, Tremezinna, Bellagio and Laglio. “All have thriving communities and essential amenities such as cafés, shops, and hotels and a choice selection of property styles, although the majority of product is period,” adds Rosen. Lake Maggiore Western neighbour Lake Maggiore has a similar slender elegance and wealth of picture postcard villas, its stunning Borromean islands in its midst – decked with some of Italy’s most unforgettable villa-gardens. “The extremely beautiful and popular Lake Maggiore, gives the investor another viable alternative to Lake Como,” says Sally Walker of Sallitalia Properties. “Excellent access from Malpensa airport and hourly train service makes this lake easily accessible. For an apartment in the popular town of Stresa expect to pay upwards of £200,000 with villas from £350,000. The further north you travel from the lake the more reasonable the prices become, whilst the eastern side of the lake does not readily attract hordes of tourists and represents better value for money, whilst still maintaining its excellent road and rail links.” Volume 2 Issue 11 // Abode2 65
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Lake Como
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Modern homes with panoramic views
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Fully qualified Real Estate Agent and established Property Finder - living & working on Lake Como since 1997.
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always a wise investment
Historic villas with original features
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If it’s available for sale on Lake Como, Lake Como Properties will find it for you. We had been looking for 5 years, until they found us our dream property. We moved in within 5 weeks! It couldn’t have been easier – they set us up with schools for the children, bank accounts, lawyers and even the furniture. RC LONDON LAKE COMO PROPERTIES Property enquiries +39 348 410 8544 Email info@lakecomoproperties.com
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TREVOSE HEAD, PADSTOW
ONCE IN A GENERATION OPPORTUNITY c. 1 ACRE PLOT. 180° SEA AND COAST VIEWS On the market for the first time since 1937, this detached home perched overlooking the iconic Padstow Lifeboat Station and Mother Ivey’s Bay, and with steps to secluded sandy beach. www.coastalspaces.co.uk Offers in excess £3,200,000 +44 1208 816622 office@coastalspaces.co.uk
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ST IVES EXCLUSIVE DEVELOPMENT Spacious homes within gated development, in the grounds of the 72 acre Treganna Castle Hotel estate. From £725,000
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BRIGHTON MARINA IMAGINED AND CREATED FOR SEASIDE LIVING
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A DYNAMIC WATERSIDE DESTINATION Experience a new level of contemporary marina living, set within the most charming and vibrant city on the south coast. With its striking architecture, modern design and breathtaking sea views, Brighton Marina provides the perfect sanctuary to soothe the heart and soul. Just a stone’s throw from an eclectic mix of buzzing bars, restaurants and quirky boutiques, this is sophisticated seaside living at its very best. 2 and 3 bedroom apartments and penthouses from £429,000
• 175 superb new homes • Shops, restaurants and bars on your doorstep • 50 minutes to London by train • 24/7 concierge • Secure underground car spaces • Europe’s largest marina For enquiries or to register your interest call:
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WEALTH MANAGEMENT
Bursting the INVESTMENT MYTH BUBBLE
A
s a fund manager with over 26 years’ experience, including the first UK equity long/short hedge fund in 1997, it is frustrating to see so many investment falsehoods still being given air time.
Active managers protect you in a downturn The spiel is that active fund managers know when the market will crash and can protect investors by running to cash. However, whilst indexing guarantees all of the market’s losses, active investors, in aggregate, will experience even greater losses when their much higher costs are factored in.
Index funds always do worse than active funds as they are forced to buy ‘bad’ stocks Since index funds invest in the whole market, they must by definition include good, bad and average quality stocks. Similarly, the sum of all the non-index funds holdings must also be exactly in line with the market and must include those same good, bad and average quality stocks. Stocks regarded as high quality are normally highly valued and therefore prone to disappoint investors hoping for a high return. Data from 1997 - 2015 shows that so-called low quality stocks have considerably outperformed high quality stocks.
Costs don’t matter, it’s the return you get in your pocket Irrespective of what the investment industry says, no-one
Alan Miller, Chief Investment Officer for SCM Direct outs the investment myths perpetuated by the finance industry can control what markets do but you can control the costs you pay. The arithmetic is simple - the less you pay for investments, the more of the return will end up in your pocket. Also the argument that by paying active fees you are somehow getting smarter investing has been dismissed by numerous studies. Especially as many active managers are ‘churning’, which can incur as much as 50 – 85% additional costs to disclosed annual fees, all of which come out of investors’ pots.
The ‘outcome’ of your investment is the most important consideration Many fund groups say that it is the end result that matters, nothing else. My view is that it is not just where you arrived but how you got there. The ultimate consideration should be to balance Cost, Risk and Return.
This year will be a stock picker’s market This statement comes down to whether markets or stocks will be correlated or not. The fact is there are thousands of stocks in every single major market, so inevitably some will perform brilliantly and some disastrously. The fact is that no manager has a crystal ball and can predict which one it will be. Investment forecasting is as accurate as horoscopes. To blame one’s performance on it “not being a stock picker’s market” is not even worthy of a rebuttal.
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PORTFOLIO LIVING
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
S
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
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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.
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 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 ‘add-on’ 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
PICK OF THE BUNCH www.thehideawaysclub.com www.rocksure.com www.gleneagles/glenmor www.stregisresidenceclub.com www.thecrane.com
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 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.” Volume 2 Issue 11 // Abode2 75
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PORTFOLIO LIVING
City Slickers As the ‘bleisure’ trend continues to fuel demand for quality accommodation in the world’s major cities,an innovative concept in urban ownership has set a premium benchmark to follow,as Joanna Bishop of leisure consultancy, Lighthouse explains
U
rban tourism has seen growth of nearly 60% over the last 5 years and now accounts for over 20% of global market share in the industry as a whole. While jet-setters have long been attracted to the bright lights of glamorous cities that offer a well-blended cultural, arts and retail mix, the opportunity to combine business travel with leisure; so called ‘bleisure travel’, is also shaking up the status-quo, as business travellers look to extend their stay by taking friends and family with them to enjoy all that city life has to offer. Urbane8 is a unique ownership concept for frequent business and leisure travellers looking for a stylish down town pied-à-terre - an alternative to the prohibitive cost of hotel accommodation and without the hefty financial outlay that comes with outright ownership. Urbane8 will include a portfolio of one and two bedroom apartments in keynote cities such as London, New York, Paris and Barcelona. Each property will be owned outright by a few like-minded owners who can also enjoy access to a shared portfolio of luxury homes in other global city locations within the Urbane8 collection. “The key is to offer each owner a high level of flexibility not only as to when individuals can use the property, including stays at short notice but also a choice of location, with a selection of homes in other sought-after destinations,” explains Joanna Bishop. “Owners will also enjoy high levels of service with everything from onsite concierge through to spa and health facilities. In short, all the comforts of home combined with the touch-point offerings of a five-star hotel.” Owners will also benefit from the financial perks commensurate with joint ownership – access to a luxury, fullymaintained property for a fraction of the price with significant savings on annual maintenance costs and of course, any upside capital appreciation wise. Adds Joanna: “Considerable interest has already been generated for the product ahead of its spring 2016 launch,
from buyers in Europe, the Far East and North America. You could say it’s a smart solution for achieving that perfect worklife balance.”
URBAN FRACTIONAL ESSENTIALS • Unlike traditional vacation destinations (beach, ski and golf) which are dictated by the seasons, urban fractionals offer a year round rental/usage window • Fractional ownership offers access to high-value real estate at a reduced financial outlay - even more so in the case of urban fractional schemes in prime city locations which maintain some of the most expensive real estate prices in the world • The lower-entry price point gives owners the financial flexibility to diversify their portfolio with ownership of multiple properties in several cities as well as traditional vacation destinations around the world • Urban fractionals can be seen as ‘multi purpose’, providing a pied-à-terre for business and leisure purposes • Fractional schemes operate with professionally managed maintenance set-ups together with concierge and other leisure support services For more information amd to register your interest, visit www.urbane8.com
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Abode2
For discerning buyers demanding more of their leisure time, Urbane8 offers all the benefits of a second home in the heart of the world’s most cosmopolitan cities - a vacation property and a base for business visits at a fraction of the whole cost. A unique lifestyle option for frequent leisure and business travellers looking for a base in a major city, Urban8 offers: •
Fully furnished one and two bedroom apartments in cities including London, New York, Paris and Barcelona
•
Flexible usage of your apartment throughout the year
•
Exchange options with other locations
•
Options for rental income
•
Full concierge and management services
•
Onsite leisure facilities at some locations
To find out more or to register your interest: visit urbane8.com or email info@urbane8.com
T: +44 (0) 845 519 6148 E: info@urbane8.com W: urbane8.com
Urbane8
Ultimate Lifestyles part of the Lighthouse Group
This advertisement does not constitute an offer to sell or an invitation to buy to residents of any jurisdiction where the promotion and/or sale of fractional ownership interests is prohibited or restricted or where prior registration of such interests is required
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PORTFOLIO LIVING
The Bigger PICTURE M
Jamie Black, Head of Private Clients at Sarasin & Partners examines five principles for managing private wealth
• Always put yourself in your clients’ shoes - what are clients thinking and what are they worried about? An experienced manager should be able to anticipate your needs. • Investment: join our club - investment is exciting and full of opportunity. Your investment manager should have great enthusiasm for investing and encourage you to take an interest in your portfolio through interactive seminars, meetings with their wider investment team and even presentations from the management of smaller companies in your portfolio. • Communication - keep it simple and jargon free. Your manager should be especially pro-active in difficult markets and never go into hiding when the going gets tough. • A shared understanding of risk - everyone has a different concept of risk: the risk of underperforming a benchmark, market volatility or losing capital. Make sure you have a common understanding of risk. • Continuity - high staff turnover is a major irritation. Make sure your manager has a small team with whom you are familiar, so that if a change becomes unavoidable, the transition will be seamless.
“Where can I invest surplus cash to generate a return better than inflation?” Government bond yields in the major currencies are at historic lows and are unattractive except as a capital anchor should the financial system suffer another shock. For that reason alone, we need some exposure for diversification purposes. We favour a mild bias towards strongly cash generative multinational equities. There is no room for complacency about equity valuations after five years of stock market recovery; however, some allowance should be made for the abnormal collapse in corporate profits in 2008/09. Companies have emerged from the financial crisis leaner and fitter, and are generating more free cash flow than at any stage for a generation. We feel comfortable locking into these cash flows and benefitting from dividend increases consistently ahead of inflation, but a global perspective is vital in equity portfolios. British companies have a long history of returning cash to shareholders via dividends but American, European and Japanese companies have all started to embrace the dividend culture and we see better potential for income growth in overseas markets. There are other sources of dependable revenue streams worthy of inclusion for diversification purposes, most notably quoted property and infrastructure plays, with the latter granting access to government endorsed income streams. These will continue to look attractive for as long as interest rates remain below their long term average. So, our view is to think globally, favour liquid investments and focus on dependable sources of cash flow in what promises to be a low interest rate environment for some time to come.
Market opportunities in 2016 Nobody can be sure what the long term impact of Quantitative Easing will be, but evidence shows it has a positive impact on the price of real assets (e.g. equities, property and land). When combined with low interest rates, it forces investors to ask:
Jamie Black has been with Sarasin & Partners for twenty years and has been head of the Private Client department for over ten years. He was named Asset Manager of the Year for Ultra High Net Worth clients at the 2015 Spear’s Wealth Management Awards.
any private investors are more than capable of managing their own investments. For most, however, markets are increasingly complex and the appointment of a professional firm to manage investments should provide a layer of comfort, while hopefully adding value to long-term performance. Here are our top 5 principles for managing private wealth. They may sound simplistic, but they are easily forgotten:
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Sarasin &
At Sarasin & Partners, we realise that one size doesn’t fit all. Designing an investment strategy to suit each client’s needs is central to our philosophy, and strategic support is ongoing as your circumstances evolve. We believe good relationships are based on mutual trust and our commitment to matching your expectations of performance and service. Sarasin & Partners LLP is a London-based global investment management firm committed to long-term relationships with a wide range of UK and international clients (including those with US connections*). For more information please contact Sophie Jewson at sophie.jewson@sarasin.co.uk or on +44 (0)20 7038 7289. www.sarasinandpartners.com
Bespoke investment portfolios for private clients, families and trustees *US Clients serviced by Sarasin Asset Management Ltd, a subsidiary of Sarasin & Partners LLP
Please note that the value of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. This can be a result of market movements and also of variations in the exchange rates between currencies. Sarasin & Partners LLP is a limited liability partnership registered in England and Wales with registered number OC329859 and is authorised and regulated by the Financial Conduct Authority. © 2015 Sarasin & Partners LLP – all rights reserved.
Sarasin Partners Advert for Abode79 Dec 2015.indd 1 Abode2&Volume2 Issue11.indb
15/12/2015 12:49:50 28/01/2016 09:29
Multiple Dwellings Relief can help alleviate impact of Stamp Duty STAMp DuTy LAnD TAx (SDLT), The TAx we pAy foR buying A pRopeRTy in The uK, hAS expeRienCeD A nuMbeR of ChAngeS in ReCenT yeARS – MoST noTAbLy The ShifT fRoM A “SLAb” To “peRCenTAge” SySTeM, whiCh CAMe inTo foRCe DeCeMbeR LAST yeAR.
The Chancellor’s latest Autumn Statement again bought SDLT into the spotlight. As of 1 April 2016, higher rates of Stamp Duty Land Tax (SDLT) will be charged on purchases of additional residential properties, such as buy to let properties and second homes, taking them to 3 percentage points above the current SDLT rates.
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The ultimate aim of the policy is to put owner occupiers in a more advantageous position than their investor counterparts and although many investors feel they are being put in an unfair situation – many are in fact already doing it themselves. Multiple Dwellings Relief (MDR) is a mechanism by which some transactions qualify for reliefs that reduce the amount of tax you pay - or mean that you pay no SDLT at all – and is significantly underutilised. Little attention has been paid to the flexibilities that exist within the system which can benefit buyers and ensure owners are paying the correct level of tax on their assets.
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How is sDLT cHargeD? When purchasing a property, HM Revenue and Customs (HMRC) calculate the amount chargeable based on the cost of the property, calculated on a tiered “slab” or “portion” system. A widespread mistake, however, is presuming the cost of a property is the only factor in determining the amount of stamp duty paid and is leaving property owners across the UK shortchanged. common misconcepTion SDLT is chargeable based on several factors such as what is being purchased, by whom, and how – not just on the
is intended for multiple residential properties. This is most commonly associated with the purchase of flats and student accommodation.
of looking beneath the surface of SDLT and it would be a shame not to make the most it and Multiple Dwellings Relief is only one of them.
There are, however, less obvious circumstances for utilising Multiple Dwellings Relief. If say, an individual is buying a property at £1,500,000 to live in, they would pay the full applicable rate on their transaction, equalling £93,750 (you pay no SDLT on the first £125,000, 2 percent on £125,000 to £250,000, 5 percent on £250,000 to £295,000 and 10 percent above £925,000).
For those owning UK property, whether you reside in the UK or abroad, everyone with a UK property portfolio will be affected by IHT. By seeking bespoke specialist advice on Inheritance Tax and wider wealth management issues it will ensure you make the most of your assets.
But what if this isn’t the whole story and they are purchasing the property for them and their grown up son to live in, who has his own entrance and living area of the house. Now this would be a different tax story and they could be eligible for tax relief. cost of a property. This offers a number of ways for specialist property tax advisors to navigate the best scenarios for their clients. Many buyers are in fact losing out to SDLT more than they need to. For instance, if you are buying a block of self-contained flats you may be eligible for Multiple Dwellings Relief, where your SDLT level is calculated on each individual flat and not the whole property value, thus using a lower tax bracket for all the properties and reducing the total SDLT bill. QuaLifying for muLTipLe DweLLings reLief Multiple Dwellings Relief is available when purchasing a property that
wHo is cornersTone? Cornerstone is a wealth adviser, specialising in property taxation in the UK. Now in our 10th year, we pride ourselves on being at the cutting edge of developments in all areas of property tax including: • Stamp Duty Land Tax • ATED “the Mansion Tax” • Inheritance Tax • Capital Gains Tax
caLcuLaTing THe Difference Depending on how this property was divided up and for this case the property is divided in half, the individual would only pay the rate for a £750,000 home on each half, at a total sum of £55,000 (£27,500 for each property) – saving £38,750 in tax. This is a significant saving by any account and is an area often neglected to be consider when purchasing a property. speciaLisT aDvice for THose affecTeD All of this, of course, is determined on a case-by-case basis and it’s essential that individuals seek advice from a trusted tax specialist for every purchase before proceeding. There are many advantages
For more information on how this affects your assets, please contact us on: www.ctatax.uk.com · enquiries@ctatax.uk.com · UK office: 01858 439 033 @cornerstone_tax · Offices in London, Leicester, Dubai and Guernsey
GROUP
Cornerstone and its associated brands are a trading style of Temple Tax Solutions Limited and is an Introducer Appointed Representative of LLP Services Limited which is authorised and regulated by the Financial Conduct Authority. Llp Services Ltd is regulated and authorised by the Financial Conduct Authority FCA No: 229382
BESPOKE
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DESTINATION SKI
Living THE HIGH LIFE Joanna Leggett of prestige agents Leggett Immobilier reveals why preparation is key to finding your dream home on the slopes
W
ith the change in the seasons and the days growing ever shorter, thoughts easily turn to the winter fun and exhilaration to be found in the mountains and of course with over 8,000 km of pistes, spread over some 300 resorts, the French Alps are extremely hard to beat. The choice of airports, including Geneva, Grenoble and Chambery all within easy reach - are another major attraction, cutting transfer times to the resort down to a minimum. Furthermore, when it comes to altitude, snow conditions, lift networks and the general variety of the mountain scape – the French Alps really do come up trumps. The Leggett specialist Ski department has highly experienced Sales Agents who live and work in all the major Alpine resorts, so they’re ideally placed to advise and guide you through the property search and selection process helping you to find the perfect chalet or apartment. At your side throughout the buying process, they’ll ensure you’re settled into your home and out enjoying the slopes as quickly as possible. Preparing well for your buying trip will help you define your search criteria - here are a few pointers: • Budget: How much do you have to spend? Are you
looking to buy with cash? Or do you need a mortgage? Could a small mortgage increase the scope of your search perhaps? • Choosing Your Ski Resort: There are so many different resorts, each with their own attributes and downsides. Of course many of us will have long established favourites, so it’s often a matter of matching your budget to fit your needs and aspirations. • The Basics: How many bedrooms do you need? Any outside space? What style of property? Renovation, redecoration or relaxation.... New builds are always popular, but you may want character as part of the price. • Must Have Feature: Is there something that’s a ‘must have’ on your list? The perfect mountain view? Total privacy? Restaurants nearby? Draw up a wish list. Having the added advantage of local knowledge is invaluable when buying in the Alps and our sales agents will work closely with our in-house legal team and network of associates to ensure your purchase goes through smoothly. With hundreds of stunning ski properties listed in our portfolio and an unrivalled level of service, is it any wonder Leggett has won, for the 3rd year running, the coveted award of ‘Best Estate Agency in France’.
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LEGGETT SKI
Ref:53267 ST GERVAIS €1,060,000 Restored 8 bedroom farmhouse - a great ski chalet with plenty of space for family and friends. It could also be used as a catered ski chalet or B&B / gite business. 2km from the main cable car.
Ref:49807 TIGNES €6,800,000 Award winning, contemporary 600m² ski chalet located between Val D’Isère and Tignes Les Brévères next to the ski lift. It offers 7 ensuite luxury bedrooms, heli pad and mountain/village views.
Ref:51188 MERIBEL €POA Traditional south-facing, stone and wood 7 bed / 5 bath chalet, built over four floors, located in an exclusive central location, resulting in a unique sense of seclusion and privacy in the heart of Meribel.
Ref:56911 CHAMBERY €1,750,000 Magnificent, renovated castle dating back to 1715 in an elevated position just outside Chambery and overlooking Lake Bourget. This exciting property has 7 bedrooms, a pool, a barn and 1.1Ha.
Ref:57912 NR LAKE ANNECY €699,000 Modern 3 bedroom house in a hamlet 12kms from Annecy with spacious terrace, heated pool and double garage. Easy access to Geneva and ski resorts of La Clusaz and Le Grand Bornand.
Ref:58399 LES GETS €1,847,500 New, luxury 174m² third floor penthouse apartment with four ensuite bedrooms, an 80m² open plan lounge/kitchen/dining area, private parking and spa facilities is just 200m from the telecabins.
www.leggettfrance.com
info@leggett.fr
+33 05 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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DESTINATION SKI
PEAKY
BLINDERS
B
eing able to strap on skis at your front door and glide right onto the piste is an indulgence only some homeowners can enjoy. Along with not having to drive to the slopes and traverse the icy, gear-laden walk from car park to lifts, many ski-in ski-out aficionados relish other extravagances, such as the salt-cave steam bath, humidified wine cellar, strobe-lit party room and dedicated drying area with boot warmers. “The evolution of wish-lists has resulted in multi-millionaires bringing concepts from their own countries, with their Alpine hideaways becoming mirrors of their principal properties,” says Jeremy Rollason, managing director of Savills Alpine Homes. It’s about ski-llionaires who want to make a statement in a trophy home, with a fireplace replicated to match one back home in London or the Loire Valley, he believes. “Most will use the uber-chalet for short periods and let it catered for an astonishing €200,000 per high-season week when absent.” So, where should you consider buying an exclusive, highland palace that offers a good return on investment?
Ski-in ski-out – the height of chic in luxury mountain chalets – isn’t the only upper-scale attribute in demand, finds Cheryl Markosky
Switzerland Although Switzerland has more prestigious resorts and wealthy international ski-ers than rival Alpine zones, the recent decoupling of the Swiss franc from the euro and Lex Weber second home investment restrictions is making property expensive for non-Swiss purchasers, says Savills’ latest Alpine report.
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However, the Swiss are improving infrastructure, with a lift in Grimentz linking it to neighbouring Zinal; and 400 new homes, a five-star Chedi hotel and 18-hole golf course revitalising Andermatt. Zermatt, fourth on Savills’ ultra-prime residential list at €10,000-€16,000 per square metre, might require high capital outlay to acquire a snow-clad, Heidi-esque chalet. But homeowners – and those renting their hilltop haunts – can take advantage of 360 kilometres of varied pistes and dine at three Michelin-starred restaurants. Aylesford International’s Andrew Langton suggests that as more taxation’s imposed on non-dom’s in places like London, “they’ll pack their suitcases and go, which could mean a renaissance for Switzerland. Purchasing a high-end chalet is very tax-linked and the Swiss are known to negotiate taxation arrangements for incomers.”
France James Ross from Erna Low Property tips leading, new chalets valued at €5 million plus at Val d’Isere, where capital growth’s 4.5-7%. “At the high end, buyers want to walk in and be pampered. Most will use their bolthole for two to four weeks, letting it through eminent tour operators like Scott Dunn the rest of the time.” Open fires and hot tubs come as standard now, as people want to feel they’re really in the Alps, Ross reckons. “Bathrooms must be pristine and kitchens, whether they’re used or not, have to be Bulthaup.” Contemporary, ski-in ski-out Chalet Husky, selling for €9 million through Erna Low, will accommodate 12 guests that can scramble up the indoor climbing wall, swim in the pool, jump in the sauna, Jacuzzi or Turkish bath; relax with a massage in a treatment room, sip a cocktail at the bar and cross the glass bridge into the interior garden. An increasing appetite for new build property stems from lower local taxes and running costs, and the ability to tailor space to suit your requirements, notes Nick Leach of Athena Advisers, “People like to tweak the plans and add gyms, steam rooms
and home cinemas. With an eye to the rentals market, wealthy purchasers are listening to agents and adding large dining areas, so everyone can eat together,” he comments. Leach suggests buying in resorts where sums are being lavished on year-round facilities, such as the €69 million aquacentre opening next month in Courchevel – “great when there’s a whiteout, or if you want something other than ski-ing or hiking”.
Austria The Swiss are flocking to Austria – because it feels more Alpine than Switzerland these days – observes Branson Atterbury of Kristall Spaces. And the British, Germans, Scandinavians and Dutch are property-hunting alongside them. “Footfall’s grown 4% every year over the last few years in the Tirol,” he explains, which makes the Austrian Alps a terrific rentals prospect. Atterbury favours Kuhtai, only 35 minutes from Innsbruck airport, and St Anton, always popular with Britons. There’s a growing trend for easy-care contemporary apartments over chalets – at all levels of the market – with 28 ski out homes selling well at St Anton’s Mountain Spa Residences. “You can put on your skis and slide down only 500 metres to theNassereinbahn lift,” Atterbury adds. Austria has a loyal following, and those still keen on adding a chalet to their portfolios should head for Bad Gastein, advises Jessica Delaney of Alpine Marketing Ltd. “Build quality is excellent and you’ll get more space in a chalet priced from about €3 million, compared to Kitzbuhel where a similar home will cost twice as much.”
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DESTINATION SKI
Peak
perfection
Lovers of the Alps have warmed to the character of a Hip Chalets’ holiday, with its unique mix of chic properties and all-embracing service
T
ake a former British number one free ride skier (him), add in an ace Swedish rock-climbing champion (her), mix in a dash of art and interior design inventiveness (him) and oodles of down-toearth business acumen (her) and you start to see why Hip Chalets stands more than a ski helmet higher than anything else on the piste. Jamie Strachan and Julia Bergklint are him and her. Partners in life and founders of Hip Chalets. Together they radiate energy, ideas and a pioneering mindset, as well as an unshakeable sense of fun, which is something that has been evident since their first days of providing luxurious chalet holidays in Chamonix, back in 2006. Their roster of properties is hugely impressive. They are part of the scenery in their beloved Chamonix, where repeat business to their chalets is the norm. Guests unfailingly enjoy everything from the style and comfort of the 86 Abode2 // Volume 2 Issue 11
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BRIGHT FUTURE The future for Hip is very much on an upward trajectory. The company has branched out into Verbier with a stunning palette of six chalets that have already been the subject of rave reviews. The individuality of the chalets sets them apart, each one framed in an entrancing style that belies the hard work that goes on behind the scenes. With other properties in Davos, Klosters and Val D’Isere the business has forged a reputation as one of the shrewdest operators in the Alps. As well as bringing further chalets on stream, Jamie and Julia are now looking to extend the Hip brand in other directions, seeing many areas in which they can unleash their creativity. The first of these will be in a collection of bathroom products that will reflect the panache of the chalets. “We spend huge amounts of time churning through ideas,” said Julia. “Once we find something that feels right, matching coolness with practicality, Jamie translates this into an exploratory design and we then look at all the commercial aspects that surround it. We are very excited about our departure into the bathroom!” With an expected launch date of mid-Spring these new products could well be the first of many fascinating new excursions for Hip Chalets. They may even clean up. For more information please call +44 (0) 1451 489 001 or visit www.hipchalets.com
accommodation to the service provided by their resort team, who have the uncanny knack of anticipating every need and whim of their clients. Where you might expect to see the stuffiness and formality that can be prevalent in high-end destinations, at Hip you’ll find a relaxed setting that promotes a feel-good ambience that spreads like wildfire through a chalet group. Whilst the properties have a dazzling style, they are there to be mooched through, used and enjoyed. “If we are not providing an environment that promotes laughter, smiles and lifetime memories, then we would be failing our clients,” explains Julia Bergklint.
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Bespoke ski holidays. Your trip, your way. www.buildmyskitrip.com info@buildmyskitrip.com
Tel. +44 (0) 203 070 3230 Abode2_Volume2_Issue11_Free_Spirit_Kentingtons_Ads_DPS.indd Abode2_Volume2_Issue11_Build_My_Ski_Trip_FP_FINAL.indd 1 88
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DESTINATION SKI
SNOW SURE
Debbie Bradbury of chartered accountancy firm, SAREG, explains why prudent financial planning can deliver a chalet investment that pays its way
W
ith Alpine resorts in France a perennial winter draw for powder hounds of all persuasions and with increasing numbers of visitors seeking bespoke accommodation packages; the catered chalet sector of the residential tourism market is booming. But with steep property prices and salary costs to manage those holiday lets appreciably higher than in many other European vacation hotspots – can a chalet purchase truly be considered a savvy investment? The short answer is yes – but only if certain financial aspects are taken into account in the setting up and running of such a business. VAT Reimbursement According to the type of property purchased and to strict criteria related to the type of activity run from the property, it may be possible to claim back the VAT paid on purchase (20%). Those essentials include: The property itself must be either be - purchased offplan or a self-build deriving from the purchase of a plot of land; the rental activity must be catered (not self-catered), providing a minimum of 3 services out of the following:
reception; daily cleaning; provision and changing of sheets; and breakfast. The property must be available for rental, either by signing a commercial lease with a tour operator providing these services, or by provision of these services personally. The catered rental activity must be in place for 20 years. Should the property be sold within that 20-year period, or if the services are no longer provided, then the owner will be obliged to repay the French tax authorities the proportion of VAT related to the remaining number of years (e.g. after 11 years, 9/20ths of the initial VAT would need to be repaid to the French government). Capital Gains Tax Exemption It’s possible to arrange the correct structure for purchase and rental so that the investor is classed as the person running a professional activity from the property. Under certain conditions - the future property sale would then be exempt from Capital Gains Tax. The owner does however need to be personally involved in running the business. The property would also need to have been owned and
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used professionally for a minimum of 5 years. The turnover of the business would need to be less than €252,000 (with less than €92,000 of services). Location Low Down On the hit list of ‘essentials’ for the perfect ski chalet – a prime location with direct ski lift access in a sought-after resort probably comes top of the bill. But such a purchase inevitably comes with a correspondingly high initial capital outlay. A savvy alternative could be to purchase on the resort outskirts, a short distance from the slopes and factor in transport costs to shuttle guests to the lifts. The latter option means transport costs can be deductible per annum from the rental turnover. Either way - it’s important to weigh up location pros and cons in tandem with projected rental returns ahead of signing on the dotted line. Overseas Personnel In certain circumstances, it may be a viable option to look at seconding staff from the UK to carry out catered chalet services, as a way of reducing salary costs. It’s worth noting however that criteria is strict in relation to the hiring of staff in this way and in many instances this option simply isn’t feasible. Personal Use Depending on whether you are able to take advantage of the VAT reimbursement on your property purchase, you may well be able to use your property for personal use – the perfect perk delivering ultra-low cost holidays for the foreseeable future for you and your extended family.
Long-Term Leases If you have signed a long-term lease that is attached to the property itself, should you decide to sell your home within the period of the lease, the property would not only need to be sold with this lease in place, but any future purchaser would also be obliged to take over this lease. This may make the sales price less attractive than a freehold sale. Bank Interest Rates At a time when bank interest rates are low, it’s worth looking at fixed rates for mortgages related to your French property purchase. While the UK tends to favour a variable rate set-up, if rates are going to change in France over the next few years, it’s likely that they will increase rather than decrease, so a fixed low rate is a sensible way of ensuring you’re not caught out with higher costs in the future.
SAREG FAST FACTS • Specialists in accountancy services for the furnished rental industry, SAREG can advise on all property related investment matters. • For further information and an overview of fee structures, contact: Debbie Bradbury, SAREG Chartered Accountants: + 33 4 50 25 23 97 www.sareg.com
Thinking of taking the plunge? If you are thinking of investing in France, becoming a French resident or running a business in France, speak to the experts who can advise on • method of purchase & inheritance • taxation (income, capital gains & wealth) • property rental & business activities • annual accounts & salaries
the English-speaking French accountants www.sareg.com +33 (0) 4 50 25 23 97
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DESTINATION SKI
Mountain Mogul A fabled winter playground complete with après ski trimmings Davos is a place of superlatives, as James Matthews discovers
T
he resort made famous for hosting the planet’s economic gurus at the annual World Economic Forum – Davos clearly has its share of high-altitude home comforts. Perched 5,120 feet above sea level, the natural beauty of the area attracted luminaries long before the World Economic Forum. Robert Louis Stevenson penned the final chapters of “Treasure Island” in Davos, while Thomas Mann used Davos as the setting for his novel “The Magic Mountain.” Arthur Conan Doyle, the creator of Sherlock Holmes, also drew on the resort for adventure and inspiration. Ernst Ludwig Kirchner, a leading expressionist painter, spent his final years and died there, with a museum devoted to his work built in his honour. For nearly 200 years, the crisp Alpine air also drew patients to sanitoriums that have since been converted to Belle Époque hotels with fresh air vistas. With an endless array of activities, from lounging in solariums and saunas to skiing the nearby mountains and visiting museums, visitors to the resort will find plenty to keep them busy. Running along the floor of the Landwasser valley, with steep Alpine mountain slopes on both sides – the town is strung out along a 21/2 mile corridor and divided into
two halves, Davos-Platz and Davos-Dorf. In all, the Davos Klosters domain offers 320km of pistes ably configured to suit all ages and abilities. The Parsenn is the largest ski area and has 40, wide-open trails suitable for beginners and intermediates who enjoy cruising. The Madrisa area has nine intermediate trails and one advanced run. Jakobshorn has a consistent pitch that makes it a firm favourite for snowboarders, who don’t need to worry about dragging their boards through flat terrain. The ski school uses the Rinerhorn area, which has a healthy smattering of advanced intermediate runs. The resort is big on park life too. Jakobshorn has a superpipe and the Jatzpark, assorted kickers and rails. Both Madrisa and the Parsenn have boardercross courses. There’s a kicker at the Mitteltälli lift at Pischa and a small fun park at Rinerhorn. For culture, check out the Winter Sport Museum - the only museum in the country to be recognised by the FIS, ski racing’s governing body - and the splendid Kirchner Museum, with great lashings of colour by the German Expressionist painter. Davos is also home to Europe’s largest natural ice rink (open air and romantic), and mile after mile of cross-country ski trails are available free of charge.
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Exclusive Residences in Davos – Switzerland
Change perspectives – create experiences. Moving tranquillity. Invigorating calm. Discover a world of enchanting paradoxes, whatever the time of year. Set in a breathtaking location with a wealth of attractions and activities to choose from, the exclusive Stilli-Park-Residenzen Davos form an exceptional community that truly embraces Swiss values. The spacious 2.5-, 3.5- and 4.5-room residences have been built to the very highest of standards, and there are a number of exquisite interior options to choose from. Thanks to the direct hotel access, the Stilli-Park-Residenzen Davos combine the individuality of a private residence with the first-class service of the InterContinental Davos hotel – once again offering you the best of both worlds. Contact us and find out more about purchasing your very own private alpine paradise.
www.residences - davos.ch
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New project on the ski piste finished with old wood
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Luxury Swiss Property Sales Specialist Swiss registered real estate company with Swiss ski property for sale, we are located near Sion in Valais in the heart of the Swiss Alps. Alpineswitzerland.com has ski property for sale in Switzerland, including land, apartments and chalets for sale in Swiss ski resorts, which can also be purchased by non-Swiss residents.
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CAMEL
SNOW
Ski holidays organised by people living in the mountains Abode2 Volume2 Issue11.indb 96
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We live in the mountains and have been teaching skiing for over 15 years making us able to advise you on all elements of your trip. We pride ourselves on our local knowledge to ensure the best possible service and fulfilling your dream holiday.
Our Advantage We are a free service, the price you pay for the property is never more than if you had gone direct.
Our Collection With over 300 chalets and hotels across Europe we have what you are after in a luxury ski holiday.
Our Service Available 24/7 from the moment you start the booking process you will feel in safe hands.
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+44 (0) 208 123 2859 • info@camelsnow.com • www.camelsnow.com Abode2 Volume2 Issue11.indb 97
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LONDON STYLE
Renaissance
of the
Northbank
Jane Slade reports on the fabulous residential developments that are transforming the area around London’s Strand into one of the capital’s most exclusive hotspots
L
ondon’s Northbank which stretches from Trafalgar Square to the Royal Courts of Justice, is set for a top-totoe transformation. The masterplan not only includes a new public space, an elegant urban promenade and reconfigurations designed to show off the capital’s most iconic landmarks but fabulous new home conversions, making it one of the most desirable places to live. The Northbank once bristled with mansions, churches, palaces and theatres but fell into decline when the aristocrats decamped to the more fashionable West End. The mansions were demolished and palaces converted into hotels and offices, and a more louche and rebellious crowd moved in. Conspirators involved in the 1605 Gunpowder Plot used to frequent The Duck and Drake tavern on Strand, and later Henry Ireton and the Levellers met at the Nag’s Head Tavern to discuss getting rid of Charles I. Fortunately Charles II’s accession in 1660 heralded the Restoration and the re-opening of the theatres. Reclaimed as a social and cultural hub during the Victorian era, the area suffered again during the Blitz and never really recovered. Until now. Thanks to the Northbank masterplan, new life is being breathed into the area to rival the swish and swanky South Bank developments over Waterloo Bridge.
Housebuilder St Edward is set to restore grandiose living on the Strand by replacing a 1960s office block into a collection of one, two and three-bedroom apartments, townhouses and penthouses. The 206 homes at 190 Strand will slope down towards the river and wrap around a private square with interiors reflecting the era of the grand hotels and buildings such as the Savoy and the Royal Courts of Justice.
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“The plans for this district represents a fantastic opportunity for the Northbank to enhance its image, improve the environment and position The Northbank as one of the most desirable areas of London,” enthuses Kiaran MacDonald, managing director of the Savoy. Set for completion in autumn 2017, 190 Strand will have a 24-hour concierge, private cinema, gym, private swimming pool, vitality pool and spa as well as virtual golf and a business lounge. Paul Vallone, executive chairman of St Edward comments: “Strand has always been an iconic and desirable location but we are really seeing perceptions of the area change. For a long time it has been known for its proximity to areas such as Covent Garden and the West End, all desirable to buyers, but now it is becoming a destination in its own right. Strand also boasts a long, prestigious history, so we have tried to capture this sentiment in our design; creating homes that feel bespoke and tailored to its location.” The development’s filigree façade, imitating the appearance of lace made with stone and metal is designed to complement Christopher Wren’s St Clement Danes Church nearby. Apartments in this £500 million development range in size from 646 square feet to almost 3,000 square feet with floor-to-ceiling windows offering spectacular views of the skyline, including the landmarks of St Paul’s Cathedral. Prices are from £1,465,000. Also on the Strand, round the corner from the Covent Garden piazza is The Charles, a collection of 16, contemporary one, two and three bedroom apartments priced from £785,000. A short walk from Trafalgar Square and Charing Cross Station, owners of properties in this development will have a lift, CCTV security, and use of a residents’ cycle store. And in the heart of Covent garden a stunning Edwardian building with projecting bay windows is being converted into a boutique scheme of three and four-bedroom apartments with direct private lift access. The four properties in the Tavistock have been designed as large, lateral open-plan living spaces, within striking distance of the Piazza, the Royal Opera House and the bright lights of theatreland.
Lauren Atkins, managing director of the family-owned developer The Malins Group says: “The Tavistock is a classic Edwardian building with a modern touch. The contemporary design creates a captivating juxtaposition with the historic building whilst benefitting from an abundance of light, allowing for a combination of muted hues with bolts of colour – all against the backdrop of high ceilings and generous windows. Externally the building has not been altered greatly and keeps within the historic architectural aesthetic of its Covent Garden location.” Properties cost from £3,500,000 and are being marketed by CBRE. The transformation of Bedford House by Stonehaven into one and two bedroom apartments will be completed later this year. Properties, priced from £995,000 and being marketed by Douglas and Gordon, and are situated in Covent Garden’s prime property heartland, a five-minute walk from four underground stations. The three-bedroom penthouse priced at £5,500,000 has its own private roof terrace with views across the capital. Just off the Strand in the historic Strand Conservation Area and within earshot of the ‘Oranges and Lemons’ chimes of St Clement’s Church is Aldwych Chambers, newly converted into 20 apartments priced from £895,000 for a one bedroom apartment rising to £4,975,00 for a four-bedroom penthouse arranged over the 5th and 6th floors with views extending east to west over the Thames and access to a private roof terrace. Counsellor Daniel Astaire, Westminster City Council’s cabinet member for Housing, Regeneration, Business and Economic Development predicts a bright future for London’s Northbank which can only spell good news for those who choose to buy a property here. “We are very excited about this strategy and are confident that major new infrastructure projects and upgrades to the public realm will mark the beginning of an exciting transformation in The Northbank. “The vision outlined will provide necessary enhancement of this culturally rich and vibrant area making it a more attractive space for the public whilst ensuring its status as a world class destination.” Volume 2 Issue 11 // Abode2 99
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LONDON STYLE
Interiors to Inspire
One of London’s most exciting designers in residential real estate at present – Louisa Penn excels at avant garde interiors with an intuitive twist, as Stevie King discovers
F
ounded in 2013, Louisa Penn Interiors offers a bespoke interior design and procurement service to the pinnacle of the market. With a commitment to delivering an exceptional service to both private and commercial clients, the company is rapidly forging a headline presence within the luxury residential and development sectors. Collaboration and interpretation are at the heart of the consultancy’s design ethos, ensuring the provision of an exclusive, personal service. Comprising a team of highly dedicated and creative professionals, the design studio strive to surpass expectations on every project undertaken.
Private Residential Attention to detail, together with a passion for creating stylish and timeless interiors, lie at the heart of each commission. Working closely with clients, Louisa and her team build a design template tailored around both lifestyle and aspirations; one which always reflects a certain ‘individuality’, combining imagination and vision in equal measure.
Residential Development Louisa Penn Interiors also provide bespoke, luxury packages for property developers and buy-to-let investors. A streamlined approach delivers cost effective, innovative solutions with a swift turnaround. Louisa’s track record in this competitive 102 Abode2 // Volume 2 Issue 11
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sector is testament to her specialist expertise, delivering a comprehensive portfolio of design services that generates a positive return on investment.
touch-point precision at every stage to ensure a smooth and efficient completion process.
Interior Architecture and Building
Furniture Design
LPI’s team of experienced interior architectural designers employ a thoughtful, considered approach in their implementation of design solutions. Aspects addressed include spatial planning and drawing through to specification on joinery, ironmongery, kitchen, bathroom and electrical installations, (including liaising with AV specialists).
Furniture design is a central element to Louisa’s design portfolio. Partnering with chosen craftsmen, both nationally and internationally, Louisa’s focus is all about creating pieces which are unique and exclusive to clients and their living environments.
Lighting Design Project Management The company is also equipped with the skills and expertise to provide a fully comprehensive project management service. Commissions however big or small, are delivered with
Lighting is an integral part of creating focus and harmony in a room. Louisa designs bespoke chandeliers and lighting installations for a wide range of private and commercial clients including one-off commission pieces.
07967 022 909 lp@louisapenninteriors.com www.louisapenninteriors.co.uk Studio 2M, Cooper House, 2 Michael Road, London, SW6 2AD
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A first impression that will last Berkeley Homes presents a once in a lifetime opportunity. Ideally placed within walking distance from the City of London One Tower Bridge’s luxurious finish with 5 star residents’ facilities including a Harrods Concierge Service, Health Spa & Gym, and designed and finished to the highest standards inside and out, this is a first impression that will last.
For more information please call 020 3740 1661. Prices from ÂŁ1,475,000. Details are correct at time of going to press and subject to apartment type and availability. Computer generated image depicts One Tower Bridge and is indicative only.
www.onetowerbridge.co.uk Proud to be a member of the Berkeley Group of companies
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LONDON STYLE
GREAT
At the forefront of developments in contemporary art since 1967 – the Lisson Gallery has always challenged the status quo and this year will be no exception, as Stevie King discovers
EXPECTATIONS T
he London gallery scene has expanded, contracted and moved numerous times over the past half century, shifting from Cork Street behind the Royal Academy to the trendy neighbourhoods of East London and back to the central streets around Mayfair. While many commercial galleries have come and gone, only one pioneering, artist-centred space has stayed put throughout, remaining on the same street in Marylebone. The Lisson Gallery (actually on Bell Street, adjacent to Lisson Grove) was opened in 1967 by Nicholas Logsdail, then an art student at the Slade School of Art. For the first exhibition, Logsdail featured friends from his course, including filmmaker Derek Jarman, but was subsequently expelled for his extra-curricular activities. Spurred on by colleagues, Logsdail continued his nascent gallery experiment, showing Yoko Ono later that year and, within a decade, legendary international artists known for their groundbreaking interest in Minimalism and Conceptualism, including Richard Long, Robert Ryman, Sol LeWitt, Donald Judd and Daniel Buren.
Long before the art world became the truly global industry it is today, Lisson Gallery began working with artists from all over the world – whether from Brazil, Japan, China or America. Indeed, it was in 1977 that Logsdail first exhibited some of the
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British artists he was working with in New York, the city where much of the world’s most innovative contemporary art was being made. It is apt then, that the gallery will open a fourth permanent exhibition space under the High Line in New York’s Chelsea district next year, in the run up to its fiftieth anniversary celebrations in 2017. This will supplement the two existing bases in London, on Marylebone’s Bell Street – one of which is a purpose-built minimalist structure by the architect Tony Fretton – and another gallery in Milan, not to mention a retreat on the east-African island of Lamu. Despite its history and international connections, Lisson Gallery remains close to its roots – not just geographically and conceptually – but also in terms of supporting the best artists of its time. Many have grown up with the gallery, most notably a whole generation that became known as New British Sculptors, who began learning from the minimal artists in the 1970s and then applied those lessons to actual material in three dimensions, making use of wood, plastic, stone and marble, among other tools and techniques. Although many have gone on to be big names in their own right – Anish Kapoor, Tony Cragg and Richard Deacon among others – these sculptors grew in tandem with the scales and ambition of the gallery. Rather than pledging allegiances to just British artists or to any specific style of art, the Lisson Gallery prides itself on taking on and representing some of the best new international artists. In the past decade it has expanded its roster to include Ai Weiwei, Marina Abramović and others, in the last year has begin to work with an important British filmmaker John Akomfrah, whose first solo exhibition fuses contemporary issues with history, fiction and mythology. Collaging archival film footage, still photography and newsreel with new material, he investigates personal and collective memories, postcolonialism and aesthetics in works that frequently explore the experience of the African diaspora in Europe and the US. Akomfrah first came to attention in the early 1980s as a founding member of the influential Black Audio Film Collective alongside the artists David Lawson and Lina Gopaul, with whom he still collaborates today. Their film Handsworth Songs (1986), which marks its thirtieth anniversary this year, explored the 1985 riots in Birmingham and London through a charged combination of archival material, that won international prizes
and attracted a huge audience when shown at Tate Modern in the wake of the 2011 riots. Similarly, The Unfinished Conversation (2012) combines found and newly shot footage to create a kaleidoscopic biopic of the cultural theorist Professor Stuart Hall’s life and work — a piece that is simultaneously projected onto three screens and has been described by the critic Jennifer Higgie as being “as sensitive to the nuances of music, collage, atmosphere and biography as it is to the brute facts of politics”. Other works such as Mnemosyne (2010), Peripeteia (2012) and Vertigo Sea (2015) borrow their premises from literature, mythology and art history, adopting fictional registers to create meditations on memory, African diaspora and global migration. For his debut at Lisson, Akomfrah is making two new diptych video installations, shot in Greece and Barbados respectively. The former looks at Greece’s precarious economic position through the cinematic references or ‘the eyes’ of one of the country’s greatest film-makers, Theo Angelopulous, to consider the eye more generally; while the latter approaches the current refugee crisis through the handwriting of the Caribbean writer George Lamming, layering contemporary events in Europe with a little known event from 1654, when Sephardic Jews, escaping the Inquisition in Catholic Brazil, fled to the island of Barbados. These will be shown together with other new and recent works including Tropikos (2016), a film that transforms the landscape of the Tamar Valley into a sixteenth-century English port of exploration on the African continent in order to reveal the deeprooted and darker history of the river.
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Private Interior Designers in London Iggi deals with private clients to provide a fully personalised and bespoke service that ensures an uncompromisingly high standard of design. Our team of private interior designers will accompany you through every step of your project from the planning through to implementation and installation of all the final finishing touches. We can provide interior design services for an entire house, or just for a few rooms. Our expert knowledge and advice enables you to utilise bespoke furniture, joinery and luxury finishes which can then help your home reach its full potential. +44 (0) 1306 712 262 • info@iggi.co.uk • www.iggi.co.uk The Old Parlour, Unit 6, Ockley Court Farm, Coles Lane, Ockley, Surrey, RH5 5LS
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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.
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HARRODSESTATES.COM @HarrodsEstates
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LONDON STYLE
Keeping up
Appearances Rupert Collingwood of the London Management Company assesses what the future holds for aspiring homeowners in the capital
W
ith a ten year stint working at the sharp end of London’s property sector - I can recall only one moment when I have been required to defend the market. It was 2008 - the financial bourses had taken leave of their senses and panic had set in across the dinner party circuit. Eager property owners were seeking out property prophets and soothsayers to find a crumb of comfort in the future direction of the market, and of course predicted asset values. Today, the frequent changes made by the Chancellor to numerous tax regulations surrounding home ownership, are forcing property owners and investors to once again question market destiny, as a sluggish 2015 has precipitated a somewhat nervous reaction. There seems little doubt in my mind that this Government’s aggressive and persistent persecution of both foreign and domestic property investors is a partisan tactic designed to ensure a traditionally right wing Conservative party remains anchored in the centre ground of British politics, thereby ensuring they keep a grip on power for a generation. However as populist as the attacks on “wealthy foreign owners” and landlords are, such enmity will only serve to further enhance the housing crisis for “ordinary hard working families” rather than relieve their pressure. House values operate on the basis of supply and demand. Supply in London is at a low ebb, while demand could be considered to be on a record high, with a booming population, global investment flows into the capital, low interest rates and numerous government-supported buyer incentives. This potent combination will likely push prices further up, ensuring
homeownership in London remains a wistful pipe-dream for many. The obvious solution would of course be to build more homes, and, government at both a local and national level is committed to this course. The sticking point however, is that these new masterplan schemes are built by the private sector; companies that require profits to operate effectively and who rely heavily upon “pre sales” to cash flow project build outs. George Osborne’s recent 3% Stamp Duty increase, whilst designed to restrict the number of buy 2 let landlords in the market, will only serve to reduce the number of pre sales which in turn, will make projects less viable for developers, thus lowering available new build stock and reducing overall supply. Many would argue that domestic owner-occupiers would be delighted with a spanking new home, and, be equally happy therefore to fund the development of more new build schemes. But just how many buyers have the ability to put down the required 5-10% deposit upon exchange up to 18 months prior to the completion of their new home? Add to this, the fact that we usually exchange in a chain, and it’s clear to see where the problem arises. New build funding relies just as heavily on both foreign as it does domestic buy-in, an investment source that the government is trying to stymie, and, ironically the very investment bedrock required to build the stock in the first place. As to what’s next for London property. The answer is simple. More of the same; increased costs, increased growth and reduced affordability. Not exactly what the Chancellor has in mind, but when your housing strategy is built on the back of a 5 year political cycle and newspaper headlines, what can you expect? If you’d like a tip for 2016… buy in London now, before costs and prices creep up even further.
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Magazi
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BRACK EN BU RY G R O VE B R AC KE N BU RY V IL L AG E W 6
Brackenbury Grove, a truly desirable West London residence Nestled away in one of London’s most desirable urban villages, close to Ravenscourt Park, Brackenbury Grove offers a unique collection of 2 bedroom mews houses and luxury 3 bedroom townhouses. These exclusive homes combine refined living with contemporary flair and convenience. Featuring private courtyards and balconies, excellent specification and secure underground parking. A selection of 1, 2, 3 & 4 bedroom apartments also available.
Coming early 2016
To register your interest and be one of the first to view this cutting-edge development please contact our sales team
0344 809 2016 www.brackenburygrove.co.uk
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30/11/2015 09:30 12:43 28/01/2016
LONDON STYLE
Capital Gains Sourcing and adding value to prime property in central London requires expertise – now more than ever. Jane Slade talks to the capital’s property guru Hugh Obbard
B
uying a prime London property at the right price with potential to add value requires expert advice. And never more so than in today’s challenging market. Hugh Obbard is managing director of Obbard, a London and Hong Kong-based property investment and development company that specialises in sourcing prime residential homes in Central London and overseeing refurbishments to add value. “The brakes are being applied by interference from the Government as opposed to any dynamics of demand and supply,” he pronounces of the squeak in London’s prime property market. Yet he predicts that despite the increase in stamp duty and removal of historical tax breaks from buy-to-let landlords, property ownership in London’s most exclusive areas will still remain attractive as a long-term investment. Obbard’s ethos has always been about ‘buying well, professional management and creating value’ for its clients and the company’s expertise in these fields is its gold standard. It is this ethos that has seen it weather varied and challenging markets before. “Buying well means sourcing the rare, genuinely-good
properties that are always so tough to find in a varied market like London and in the right areas, then creating value through a combination of correct entry price and improvements through inspiring design upgrades and reconfiguration,” Hugh explains. Obbard was one of the capital’s first companies to offer
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Home Hunt Case Study After a fruitless search on their own lasting two years, an international family appointed Obbard to find them a fourbedroom apartment overlooking Hyde Park for £5million and with at least a 100-year lease. Obbard sourced a 3,000 sq ft apartment with views over the park, costing £2.95million, on a 30-year lease and requiring a total refurbishment and from this Obbard created their initial brief at a lower cost and with added value. Obbard extended the lease to 120 years plus a share of the freehold and oversaw a bespoke refurbishment of the property which took just under one year to complete. The cost of the lease extension was around £800,000 and the refurbishment £850,000. The value of the property once fully refurbished with lease extended was £5.5million.
an integrated property service i.e manage the entire cycle of acquisition, refurbishment and design, management, letting and reinvestment to its clients in the UK and overseas. The company’s approach is proven in producing attractive returns on residential property investment in London’s most exclusive locations over the past 20 years. Obbard’s structure as a one-stop shop is ideal for ‘timepoor’ investors and those unfamiliar with the English planning system, conveyancing laws, and skills required to negotiate the best purchase price. They may also not have the design, architect and building contacts that Obbard has at its fingertips. Obbard’s services are likely to see an increase in demand as Hugh anticipates that the key for those entering the market will be to identify value and create value to offset the higher entry costs. “Investors will require more cash as high levels of leverage become less attractive and banks tighten lending,” he says. “In London, which has traditionally attracted high levels of cash buyers or lower leverage, the market is likely to prove more resilient.” Obbard’s clients have a dual motive to buying a prime London home. “On the one hand the purchase is an investment with both future capital growth and wealth preservation a key consideration. But also there is often a secondary motive linked to children’s current or future needs (often starting with schooling) and frequency of time spent in London generally,” says Hugh. “The buy-to-let element is more often an interim activity until such time the property is required for personal use. These investor/second home owners make up a considerable number of buyers and we see this demand continuing reasonably unchecked.” The platinum triangle of Mayfair, Belgravia and Knightsbridge has been very muted this past year Hugh observes. “Having led the charge we feel it is waiting for pricing generally to bed in after a super strong run followed by the various tax changes.
“The traditional Royal Borough of Kensington and Chelsea and Westminster (north and west of St James’s Park) are likely to continue to attract the lion’s share of interest from the wealthy local and international market. “The opportunities to buy well in these otherwise hotly contested locations may well be quite enticing in the months ahead as sentiment for London property remains muted.” However he cautions that looking ahead the market may not return quite what we have seen these past two decades. “This is why whether buying for current or future use or just investment, the key will be to buy well and create added value.”
OBBARD FAST FACTS •
Obbard was founded in 1994 to advise overseas buyers looking to invest in Prime London residential property.
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The three co-owners of the business have a combined experience in excess of 80 years in property and finance.
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The company has advised on over 400 individual acquisitions and carried out over 250 refurbishments within the boroughs of Westminster and Kensington & Chelsea alone.
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Total investment by clients in Prime Central London within the past two years exceeds £100m.
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The largest single transaction advised on amounted to £180m.
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Since 2004 the company expanded its remit to advise on commercial investments, specifically Office and Hotels.
Obbard Ltd, The Yacht Club, Chelsea Harbour, London SW10 0XA www.obbard.co.uk / 0207 349 8920
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About Oyster Interiors Founded by Louise Carlisle, Oyster Interiors has nurtured a passion for interior design for over 20 years. A forward-thinking consultancy that started in London, and now based in Sussex; the consultancy’s creative expertise is perhaps best exampled by the diverse range of commissions which the agency has undertaken from bespoke build penthouses and private residences in Central London to traditional country homes in Kent and Sussex. The agency adopts a refreshingly down-to-earth approach to all commissions undertaken, with business often conducted on a referral basis and new projects undertaken for clients with whom genuine friendships have been forged. Louise, together with her dedicated team, place client needs and aspirations at the heart of every project, creating unique living environments that reect both individual tastes and lifestyles.
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Design is only in good taste when it embraces the way you live
BESPOKE PROPERTY. BESPOKE LIVING.
Oyster Interiors +44 (0) 7887 525 455
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lcarlisle1@me.com
www.oysterinteriors.com
28/01/2016 09:31
RELOCATION
the
Great Escape
Global market recovery is reigniting enthusiasm for the retire abroad idyll. Laura Henderson examines three relocation markets successfully wooing the grey pound
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any dream of retiring abroad and with pension freedom - the opportunity to take those nest egg savings and head for sunnier climes is even more tempting. According to the latest research by HSBC, the number of people approaching retirement and considering buying a foreign property has risen from 30% in 2006 to 38% - 5.4 million – in 2015; a migration trend that reflects not only the increased life expectancy among the silver generation, but also embodies the quality of life aspirations of pensioners; ambitions that favour selfmotivated adventure over a pipe and slippers life sentence. It’s a demographic shift that is being matched by a growth in location preferences. Premier long-haul stalwarts Australia, New Zealand and Canada have more recently been joined by newcomer ‘tax havens’ Malaysia, Belize and Panama, with a growing number of short haul escapees plumping for the Mediterranean Meccas of Malta and Portugal. “The latter boast excellent health-care programmes,” confirms Robert Haymes of independent financial adviser Worldwide Financial Planning, “with attractive property prices easing the path to a brand new life.” Choosing a location solely on the grounds of price,
however, is ill advised. “Pension arrangements should come first,” adds relocation expert Clive Easton. “Individuals not only need to look at how their savings will be affected, they need to ensure existing assets (particularly if they are reinvesting income) fit into the tax regime of their chosen country. Inheritance tax and succession laws should also be addressed from the outset to avoid any nasty surprises down the line.” Health insurance can be a further stumbling-block. While many countries operate a national health service, these won’t necessarily cover the total cost of healthcare, making it vital to investigate what your entitlement is before taking the plunge. “Certain countries require you to take out private medical insurance,” adds Alison Green of AXA PPP Healthcare. “Premiums will go up, so it’s important to ring-fence savings for future pay-outs.” Ultimately, however, it’s about finding a place that meets your lifestyle needs and wants. “Putting down roots somewhere should be because you really want to settle in that particular country,” adds Easton, “not just for tax or cost of living reasons. Plan with that criteria in mind and you can count on a rich and fulfilling retirement.”
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PICK OF THE BUNCH Portugal – best for short-haul perks Despite feeling the pinch from the Eurozone crisis bailout programme, unlike fiscal miscreants Greece and Spain, Portugal has since emerged with its dignity intact not to mention regaining a degree of post crisis composure, with a respectable GDP growth of 1.6% in 2015, driven primarily by export growth rates, but also tourism. Portugal’s construction industry, in parallel with the rest of Europe has felt the bite of the recession, but real estate growth in the past 18 months has been reflective of a prudent philosophy filtering across all areas of the country’s economic activity: a flight to quality, with high value-added real estate development leading the way. Property prices also remain competitive compared to many rival destinations in Western Europe. The dip in values in 2008 and 2009 is providing a choice of high-quality homes at attractive prices in both finished form as well as developments currently under construction in sought-after locations such as Lisbon and the Silver Coast with entry-level prices from £150,000. In an effort to attract more wealthy foreigners to its shores, Portugal has reviewed its non-habitual residence programme NHR, whereby individuals are exempt from paying tax on their non-Portuguese income for a decade. Although the scheme has been in place since 2009, Jason Porter from expat advice firm Blevin Franks explains the introduction of UK pension freedom means this generous tax break is now even more attractive. “Under pension freedom, a retiree can take their entire pension out in one go or over a number of years and if they are living in Portugal they could access the whole pot over a 10-year period tax-free,” he adds. The programme makes Portugal the most tax efficient country for retiree expats to live in as long as they have not been resident in Portugal for the past five years. NHRs will also benefit from the lack of inheritance and gift taxes, which is quite convenient in terms of deciding about passing assets to
the next generation. In fact almost all kinds of income from a foreign source are exempted from taxes in the country, which contributes to the favourable regime even further. Adds Porter: “To qualify, non-residents must first obtain a valid resident permit, then register as tax resident and only then apply for the NHR status.” Malaysia – best for long haul luxury Sugar-sand beaches, island archipelagos and an uptempo culture isn’t a bad opening bid for a new life abroad, but expats are drawn to this former British colony more by familiarity – an English speaking, tea drinking dragon economy with a high value property market. Ranked ninth in the world for tourists arrivals, (27m in 2015), many Brits are now finding it the ideal long-stay destination - a tropical climate, world-class healthcare, and one of the lowest costs of living in Asia, alongside steady real estate appreciation of 6%-8% per annum. The government’s “Malaysia My Second Home” initiative launched in 2002, now has UK applicants driving the programme, many putting down roots on the scenic Sepang Gold Coast close to the capital Kuala Lumpur and the exclusive
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suburbs of Mont Kiara and Kenny Hills, where freehold apartments can be snapped up for £300,000. “Of the 15,000 plus approved applicants to date, over 1,800 are from Britain,” confirms Malaysia My Second Home agent, Yong Sok Hong. To qualify, buyers over-50 must hold at least MYR 150,000 (approx £24,000) in a deposit account, with a minimum of MYR 10,000 (£1,500) in monthly income. Successful applicants, provided that they do not work in the country, benefit from a “rolling” 10-year residency visa and are allowed to bring their spouses, unmarried children under the age of 21 and parents above the age of 60 as dependants. MM2H residents may bring in household effects duty-free, and import or purchase one vehicle locally, tax-free. Further benefits include exemption from Malaysian income tax on pension and related income remitted into the country. A ‘taxlite’ regime also means no CGT, wealth tax or inheritance taxes, although any income (such as income from house rental) made in Malaysia is subject to income tax. Panama – best for a brand new life A decade ago, Panama City was simply a city hub for holidaymakers looking for a chilled vacation on the nearby beaches, but today it’s the Panamanian capital’s expanding taxfriendly business environment that’s drawing expat executives keen to grow their Latin American presence. Expats and retirees alike are lured by the warm climate, slower pace and the country’s connection with both North and South America. Fast growth has brought a slew of hotels, stylish condos and office space; a dollar-pegged economy encouraging foreign investment with a favourable tax structure and a ready supply of luxury housing; key draws for expats keen to live
abroad without giving up the comforts of home. While American expats have an established property foothold (accounting for over 30% of the 190,000+ overseas population), British buyers are catching up; the majority settling along the Pacific Coast near the capital Panama City in Coronado, Punta Chame, Gorgona and Rio Mar where prices remain competitive - luxury new-build villas with sea views selling for £275,000. The city’s exclusive Punta Pacifica district meanwhile is prime hunting ground for architect designed condos with concierge services on tap – two-bed new-build units marketing for £300,000. Retirees in particular, have plenty to smile about - no tax on offshore-derived income, be it a pension, bank deposits or an investment portfolio and no capital gains or inheritance tax. “The easiest way of securing residency is with the pensionado visa,” explains property tax consultant Andrew Featherstone, “with low entry-level requirements for individuals that receive a pension for life in their native county.” Applicants must demonstrate a minimum income of at least $1,000 per month. Once the visa application is approved, the pensionado programme of benefits is there for the taking. Perks are numerous with discounts off key services from hospital costs to public transport. Income tax on a stepped scale up to 25% is however payable on Panamanian earnings. You can claim some exemption from tax on rental income should you let a property and if you invest in one of Panama’s ‘tourism zones’, you may be exempt for a fixed period from income tax altogether on any income. While there is no inheritance tax as such, gifts of property attract tax depending on your relationship to the beneficiary, so be sure to check before you hand over the keys to your golden years’ cabana.
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WNT56-uk
RELOCATION
Selling up in the UK and moving abroad? Take tax advice before you move! We need to talk. Have you considered all the tax implications of selling your UK property, both in the UK and your new country? How will your savings, investments and wealth be taxed abroad? Could you take action to save tax? Don’t risk paying tax that could have been avoided, contact us for advice on your situation.
0800 668 1381 Freephone UK enquiries@blevinsfranks.com
WNT56-uk
w w w. b l e v i n s f r a n k s . c o m Blevins Franks Financial Management Limited (BFFM) is authorised and regulated by the Financial Conduct Authority in the UK, reference number 179731. Where advice is provided outside the UK, via the Insurance Mediation Directive from Malta, the regulatory system differs in some respects from that of the UK. Blevins Franks Trustees Limited is authorised and regulated by the Malta Financial Services Authority for the administration of trusts and companies. Blevins Franks Tax Limited provides taxation advice; its advisers are fully qualified tax specialists. This promotion has been approved and issued by BFFM.
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RELOCATION
PASSPORT TO PARADISE Along with stock and real estate portfolios, the global wealthy are now acquiring a new form of economic security: passport portfolios. Hakan Cortelek and Mark Pihlens, managing partners of Henley & Partners in London, offer their expert insight into this growing trend
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itizenship and residence by investment is the process of achieving the right to either reside in or become a citizen of a country usually by making a substantial investment and commitment to that country. It has also become a viable way for countries to raise capital and attract wealthy and talented individuals. As the global leader in residence and citizenship planning, Henley & Partners work with HNW individuals, families and their advisors, providing a wealth of expertise in this specialist
area. The concept of residence and citizenship planning was in fact created by the company in the 1990s. As globalisation has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs, investors and the super wealthy. The number of millionaires in the world has been growing considerably each year, many of whom are originating from emerging markets, particularly China and Russia. They are
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CITIZENSHIP BY INVESTMENT PROGRAMMES
ANTIGUA AND BARBUDA Allows visa free access to 130 countries including the UK, Schengen Europe and Canada. Investment Requirements: • Contribute a non-refundable $US 250,000 to the National Development Fund; or • Invest at least $US 400,000 into an approved real estate project for five years; or • Invest at least $US 1.5 million into an eligible business.
MALTA Offers EU citizenship allowing the right to live in the UK and Europe as well as visa free travel to 167 countries including the USA. Investment Requirements: • Contribute ¤650,000; and • Buy a residential property worth over ¤350,000 or rent one for more than ¤16,000 a year; and • Invest ¤150,000 in a prescribed investment - The investments must be held for 5 years
CYPRUS Offers EU citizenship allowing the right to live in the UK and Europe as well as visa free travel to 158 countries. buying homes overseas, favouring cities such as Los Angeles, Vancouver, New York, London, Sydney and Singapore. They then want to visit these homes, hence the increasing need for visa-free travel. Visa-free travel is not the only incentive for wealthy people to consider an alternative citizenship. Reasons vary but the most common factors include security, retirement planning, tax and estate planning, healthcare and most prevalent in the UK, education. Henley & Partners also run a government advisory practice, and have been involved in strategic consulting and the design, set-up and operation of several of the world’s most successful residence and citizenship programmes which have attracted more than $US 4 billion in foreign direct investment to date. The company is mostly known for its work designing and implementing the programmes for Malta, Antigua & Barbuda to name but a few. The concept started in the Caribbean back in 1984 with St Kitts & Nevis, but it is now very much a global practice. The Canadian and USA Investor Programmes were early massmarket projects, but now options exist throughout Europe (including UK, Portugal, Spain, Malta, Cyprus, Greece and Hungary) all the way to the East, with Hong Kong, Singapore and Australia all seizing the initiative. This has resulted in approximately 20 countries globally offering immigration investment programmes in one form or another but we are finding that the most popular programmes currently requested by clients are the UK, Malta, Portugal, Antigua, and Cyprus.
Investment Requirements: • Invest ¤2.5m in real estate; or • Invest ¤2.5m in government bonds and an additional ¤500,000 into real estate; • Invest ¤2.5m in a prescribed investment and an additional ¤500,000 into real estate; or • Invest ¤5m in a bank deposit. - The investment must be held for 3 years but the ¤500,000 real estate must be held indefinitely For more information email Henley & Partners at uk@henleyglobal.com
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RELOCATION
Sunny
SIDE UP
Relocating to a new country is a big step. Property consultant Jeremy Connell offers some useful pointers on making a stress-free transition to pastures new Plan Ahead Whilst the halcyon days of generous relocation packages might be long gone, if you’re relocating at the request of your company - there’s still room for negotiating the finer details of that package especially at the outset. A tick list of areas to address include: property specification, moving costs, health care, holiday allowance and your children’s education. Very few companies will set aside a contingency budget for all of these, but many will consider a lump sum contribution - and you’d be surprised how flexible they can be. 126 Abode2 // Volume 2 Issue 11
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Tackle Tax Seeking advice on tax planning issues ahead of starting your brand new life can have a significant impact on outgoings once you’ve relocated. Not all banks in the UK, for example, allow you to keep an account open with them if you move abroad, so check first. Even if you live outside of the UK, you may still be liable for tax in the UK on your income and potentially gains made from the disposal of assets. This means that you may still have to complete a tax return – so seek advice from your IFA and find out what you need to do.
Clue Up on Currency Exchange rates can fluctuate greatly and have a significant knock on effect on your spending power. This is a particular consideration if you still have financial commitments to honour back home. Those changing pounds to foreign currency have two main options open to them: teaming up with either a high-street bank or a foreign exchange specialist such as www.currenciesdirect.com or www.caxtonfx.com. Specialist brokers invariably offer a better deal: more competitive rates, lower (if any) transfer fees and no commission charges. Because they solely deal in foreign exchange, you’ll also benefit from a number of exchange perks that most banks are unable to offer.
Stay Property Savvy Sought after expat neighbourhoods invariably command a
price premium - local agents are acutely aware of demand and set both rental and sale prices accordingly. Be prepared to widen your property search – house hunting even a few streets further away can make a significant difference. It isn’t always possible to secure a rental contract in the local currency. In Russia for example, a lot of landlords prefer to be not paid in the local currency but ask for US dollars or euros, often in cash. Either that or the rent is agreed in one currency (euros for example), but then paid in the local currency at a varying exchange rate each month. If this is the case, you need factor in those currency fluctuations – be prepared to negotiate on the way you pay if necessary. It can mean a significant financial saving over time.
Invest in Education School fees are one of the biggest ‘cost centres’ for families relocating. You can find international schools in most cities around the world, but competition for places can be stiff with annual fees working out as expensive as private schools in the UK. If your move is likely to be long term, it’s worth considering a transfer into a local school. The initial settling in period might be tough going, but your offspring are highly likely to make friends outside of the immediate expat community, and develop a better understanding of their new locale. A language immersion course prior to your move will also help smooth the way to a new life chapter.
Moving you nationally and internationally www.clockworkremovals.co.uk Freephone 0800 328 4166 international@clockworkremovals.co.uk Volume 2 Issue 11 // Abode2 127
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RELOCATION
Sitting pretty
Performing well despite an anti-austerity backlash in Southern Europe – the bite-size Mediterranean island of Malta is leading by investment example. Laura Henderson reports
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eficit targets might still be the pressure cooker topic of discussion in certain Euro territories at present. Not so, on the small but steely island of Malta; a country whose cushioning from debt crisis in the region has been bolstered by a strong, servicebased economy, diversified among banking, insurance, tourism and gaming, with wider reach levels of interest also now being shown by foreign buyers for residential property. “Unlike certain Eurozone countries, Malta has significantly advanced its economic freedom over the past five years,” explains Nick Bilocca of agents Frank Salt. “The country has created a relatively open economy with low tariffs and efficient investment rules. Its domestic banks are highly capitalised, profitable and liquid. They fund themselves largely from the domestic retail deposit market, lend locally and hold securities issued in Malta, rather than having taken on board risky assets such as Greek government bonds. High levels of language and technical literacy with excellent communications and IT infrastructure have also helped attract inward investment as has Government expenditure in productive sectors.” For overseas buyers considering a second-home – the financial incentives are attractive too, suggests John Cutugno of Homes in Malta. Foreign residents have no tax levied on
their worldwide income or wealth and are subject to a flat income tax rate of 15% on remitted income. Stamp duty is also low, with no council tax to pay and pension funds are easily transferrable, which makes relocation an attractive proposition. “Healthcare, education, and accessibility also play key roles and Malta passes all these tests with flying colours, while Maltese banks have continued to offer home loans to foreigners, all of which is helping to sustain investor confidence,” he adds. According to data published by the Central Bank of Malta (CBM), the real estate price index rose by over 11% in the final quarter of 2015. “It’s a solid performance, taking into account the issues in other Mediterranean resort countries in crisis times,” adds Ray Woods of agents Malta Buy Property. “Residential growth of late has also been reflective of a prudent philosophy filtering across all areas of economic activity: a flight to quality, with high value-added real estate development leading the way attracting an aspirational, international clientele.” One initiative driving take up from the UK is the Malta Retirement Programme (MRP). To qualify for the scheme, applicants must purchase a property of €275,000 if situated in Malta or €250,000 for a property situated on the sister island
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of Gozo. Beneficiaries are able to benefit from a tax rate of 15% on any income arising outside Malta which is received in Malta by the beneficiary or dependent, with the possibility to claim relief of double taxation. “Applicants may also qualify for the scheme if they rent, rather than purchase a property at the annual rent of €9,600 for a property situated in Malta or €8,750 per annum for a property situated in Gozo,” confirms Woods. As to property options – those considering a new-build home will find a comprehensive choice under the Special Designated Areas (SDAs) portfolio; government approved regeneration zones of which waterfront and marina developments are a key component. “Special Designated Areas (SDAs) is a status granted to qualifying developments that allows both EU and nonEU nationals to purchase property in Malta with the same acquisition rights as Maltese citizens, and without the need to obtain an AIP permit (Acquisition of Immovable Property),” explains John Cutugno. “Therefore there are no limits on the number of properties a buyer can purchase and once acquired the owner can also lease the property without restrictions (any rental income is taxed at 15%).” Portomaso in scenic St Julians was the first SDA resort launched in 2003, but many more have come on stream with their own individual personality and style ranging from Vittoriosa Waterfront just south of the World Heritage City of Valletta to the exclusive gated hillside community of Madliena just a short walk from the Medieval village of Ghargur. Prices start in the region of £115,000 for a one-bed apartment,
to £1m+ for a luxury penthouse, with the added bonus of a turnkey set-up with luxury of on-site amenities and full property management services on hand. Those seeking an older, traditional property may find what they are looking for in scenic areas such as Gharghur, Balzan, Naxxar and Zebbug. Characterised by their charming tree-lined squares and alfresco cafés, these vintage villages sport a healthy mix of restored townhouses and maisonettes, not to mention a sprinkling of palazzos complete with inner courtyards and roof top terraces. A budget of £250,000 £425,000 will secure you a house of character with period accents such as flagstones, arched ceilings and exposed beams.
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R E T I R I N G A B R OA D? We’re with you all the way. If you’re considering retiring to the sun, we understand that it won’t be without a little trepidation. But as ever, Bupa is here to help with international medical insurance that gives you access to a 24/7 helpline and a choice of local medical centres of excellence. So you’ll have peace of mind in the knowledge that you can take us with you on your new adventure. For more information or to receive your FREE guide to retiring abroad call us today or visit us online
+44 (0) 1273 322 079 www.retireabroadwithbupa.com Our guides to retiring abroad are full of helpful tips and information that will help you to start making plans, with confidence. Bupa International may not be able to provide cover in some jurisdictions as local restrictions may apply.
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RELOCATION
Small Island
Big Personality Rosanne Bonnici, Tax Partner of the law firm Fenech & Fenech Advocates explains why Malta is a premium location for those looking to relocate
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alta has many attractions for those starting a brand new life chapter; be it with family, for business or retirement. The island boasts a rich history dating back several 1000s of years BC, with countless buildings and ruins attesting to this vintage ancestry. English is an official language, plus there’s the enviable climate, excellent travel connections, not to mention a robust economy and sound education, finance and healthcare systems. It’s also a very safe environment to raise a family. The Maltese are warm, welcoming, and proud of their heritage. Here you’ll find all the timeless, traditional Mediterranean values, with an emphasis on food, family, and community. Yet the island still very much lives in the 21st century, as time spent exploring will demonstrate.
What tax residency schemes are currently available? Since joining the European Union in 2004, Malta has offered a number of tailored schemes aimed at foreign individuals who wish to move their residency; be it for offshore living, international business travel, relocation for work or even retirement. Currently Maltese law provides for three main tax residence arrangements: Residence Programme Launched in 2014, the Residence Programme has generated considerable interest from EU/EEA/Swiss nationals wishing to relocate. Applicants must not live in any other jurisdiction for more than 183 days a year, have recognised health insurance and buy property worth at least €220,000 or spend €8,700 a year in rent. If these conditions are met, then foreign source income will be taxed at 15% on remittance to Malta. The minimum tax payable is €15,000 a year. Malta source income and gains would be taxable in Malta at the higher rate of 35%; no Malta tax would be chargeable on foreign source capital gains, even if these are received in Malta. Individuals benefiting from the special tax status in terms of these rules are not subject to any restrictions as to the activities they may undertake in Malta. Global Residence Programme Modelled on virtually identical lines to the Residence Programme, this Programme is targeted at non - EU/EEA/Swiss nationals. Malta Retirement Programme This programme provides for a special tax status, once again, on much the same lines as the Residence Programme, but is
targeted exclusively at retirees who are required to remit their foreign pension in full to Malta (this pension must constitute at least 75% of the retiree’s taxable income in Malta) in order to benefit from the reduced 15% tax rate on foreign source income. The Programme provides for slightly higher thresholds in terms of property prices, but imposes a lower minimum annual tax requirement set at €7,500.
Malta is viewed as a tax friendly location – why is this? Malta has a very competitive tax regime in place. Persons who are resident but not domiciled in Malta for tax purposes are taxable in Malta on Malta source income and gains and on foreign source income to the extent remitted to Malta. The corporate tax rate is 35%, in line with the highest personal tax rate. The corporate tax regime is EU approved and includes a participation exemption on certain investment income and a shareholder right to claim a tax refund upon distributions of dividends. These elements, when combined with others such as the special tax status provided for by the above Programmes, have generated significant interest from individuals looking to relocate or to do business in Malta. It makes living here a very attractive proposition, especially when you consider that there is no inheritance tax, wealth tax or capital gains tax on a primary residence.
What advice would you give to individuals considering a permanent move to the island? We have seen considerable growth in the number of clients moving to Malta in recent years, for a variety of reasons, but recently also because of concerns linked to the government in their respective countries and proximity to high risk or war zones. The Citizenship by Investment Programme, the ‘Individual Investment Programme’, launched a couple of years ago has generated particular interest among HNWIs and UHNWIs. Malta offers a superior quality of life. I would invite those considering relocating to experience this at first hand. Many of our clients are sold on the island after spending just a few days here and it’s not unheard of for them to start thinking of investing in property shortly thereafter. We do however advise those considering making a move to rent as a first step, and review the diversity of real estate on offer from restored farmhouses in village cores and centuries old palazzos, to high end apartments. In terms of tax and estate planning, clients generally need to do very little beyond a basic review of the manner in which their assets are held and separation of sources of income, capital and capital gains.
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SPORTING ESTATES
Family Fortunes With ancestral ties to the island of Barbados dating back to 1652 – Sir Charles Williams’ passion for property and polo has resulted in one of the finest residential developments in the Caribbean. Laura Henderson reports
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fearsome work ethic and ‘one-step-ahead’ vision are a potent combination by anyone’s standards, but when it comes to transforming real estate potential into property dynamite – copious amounts of both can deliver quite exceptional results. With a string of development success stories to his name, including the founding of C.O. Williams Group, the largest construction company in Barbados, few industry players ever doubted the rise and rise of Sir Charles Williams. Following in the footsteps of his enterprising father whose love of all things equestrian led to the renaissance of Barbados Polo Club in 1939, Sir Charles has dedicated most of his life to pursuing his own passion, that of real estate. Purchasing five acres on the island in 1958, was his first step on a halcyon climb to a five-star portfolio; one that has set the benchmark for quality real estate across the island. But while individual land purchases to date have brought their share of design and build thrills, nothing comes close to the site he acquired in 1983, which he refers to as the “jewel in the crown of his property portfolio”. Located on a former 17th century sugar plantation 1,000 feet above sea level and sporting panoramic views to the Caribbean and the Atlantic, the setting for his newest fully integrated project - Apes Hill Resort - is truly spectacular.
Fanning out across 470 acres, the estate boasts a mosaic of landscapes from deep tropical ravines, waterfalls and rolling meadows to canopied rainforest and coral stone quarries. Two-thirds of the total acreage is given over to nature, allowing a blended relationship with the indigenous wildlife including playful green monkeys, mongoose and an array of tropical birds; an environment, explains Sales and Marketing Director, Linda Williams, that buyers “wholly appreciate. When built out, the resort community will have just 250
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homes,” she confirms, “a low-density ratio that will preserve the natural topography of the estate for life.” Taking full advantage of the development’s elevated position; the resort’s par 72, 18-hole championship golf course adds a further verdant hued highlight, with many estate homes boasting spectacular fairway views. Nongolfers have their pick of leisure amenities too, with a Polo Centre complete with full-sized field and resident coach, as well as links to the Fairmont Royal Pavillion and its beach facilities, 10 minutes away. Adds Williams: “All property owners automatically become social members, allowing them to take full advantage of resort services and activities, with the option of purchasing the additional golf club membership for their entire family. Our 17,000-square-foot clubhouse is scheduled to open Christmas 2016, along with a restaurant, bar, golf shop, locker rooms, fitness centre, and swimming pool. We opened two high quality floodlit Tennis Courts earlier this year” Divided into eight distinct communities named after the
estate’s original plantation fields – neighbourhoods have a secluded, away-from-it-all feel - each lot landscaped to make the most of the outlook, nature and space. “All home designs are approved by an architectural review board,” explains Williams, “but design choice is sufficiently diverse to allow owners to put their stamp on a property. It’s very much a collaborative process with buyer’s needs and wants fully taken into account in the design and build process.” Combining Bajan and contemporary design, properties incorporate a wealth of local materials. Limestone and mahogany are used both inside and out, yet each home has its own distinctive personality from the jalousie shutters and covered verandas to the open fretwork, French windows and soft focus light wells. All have an open, airy feeling accentuated by the cream coral stone finishes, tray ceilings and floor-to-ceiling windows opening out to picture postcard views of the fairways, sea and hills. Private infinity pools and plunge pools are fitted as standard with spacious patios and garden areas.
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POLO PARADISE AT APES HILL Barbados is the jewel in the Caribbean polo crown, and although the sport has been something of an institution in the island for more than 150 years, the last few years have seen some radical changes in the way the sport is played and run on the island. The inception of the Barbados Open in March of 2003 and its tremendous success has changed the face of Barbados polo forever. With the introduction of higher handicapped tournaments and a much wider involvement of overseas professional players and global sponsors Barbados polo has come of age. The world class Apes Hill Polo Centre, with its full-sized field and an additional practice field is one of the finest of its kind in the West Indies. A place to indulge one’s love for all things equestrian: to share in the drama and spectacle of international polo matches against a stunning backdrop of the Caribbean Sea; players can sharpen their handicap under resident coach Jamie Dickson, or to simply experience gorgeous scenery on horseback from the vantage point of the Club’s riding facilities. Club ponies were initially brought in from Argentina, Jamaica and England but now many are bred in Barbados. The Polo Club specialises in tailor-made holidays for any level polo player as well as Polo lessons, riding lessons, stick and ball instructions, chukkas, matches and rentals of ponies. The polo season in Barbados runs from December Short Drive to Malibu through to May. www.apeshillpolo.com Short Drive to Los Angeles & LAX
Southern California’s Premiere Guard Gated Golf Course Community
24 Hour Guard Gated Entry Access to the historic Lake Sherwood Villas also come with private infinity pools, garages and Scenic Vistas & designated Space As with most master plan communities - property sales Open World Jacksquare Nicklaus Signature Golf Courses golf-cart ports. are being released on a 2 phased basisClass, - the 2,686 firstAbundant Hiking Trails Preserves Larger plots offering detached estate homes include those foot Polo Villas, the neighbourhood to be built, now& Nature Nationally public & on private schools Moonshine Ridge, which command hilltop positions and sold out, with portions of Phase II andacclaimed Phase III of newly
afford spectacular views. Lots, priced from $1.275m come released lots now well underway. with one of a choice of seven bespoke home designs – total Perched on one of the highest points of the island, third To arrange a come private sales office: from $3m to just under $8m. build cost ranging and half acre plots in Holders Meadow with tour, stock contact Adds Williams: “AHC offers a full property management house plans and full project management services so that service to all owners, including a rental service for those homeowners can create their very own bespoke residence. who require it, but the resort is so much more than just a Garden Wall detached three Courtyard villas, start from lifestyle investment. It truly captures the tradition and the $1.3m and average 2,900 square feet. Designed with luxury natural beauty of the island: a simple synergy, but one that living in mind, the three different villa options in this Obtain the Property Report required by Federal lawfeature and read itspacious before signing anything. Federal agency hasand judged the merits or value,The if any,vintage of this property. contained shallbreezes be construed works. viewsNothing and the coolherein Bajan areas an offer to community living andNodining areas, sell or a solicitation to buy in any state where prior registration is required. Availability of certain amenities is not assured, and may require a separate agreement and payment of additional fees. In the constant endeavor to enough to convince me of that.” bedrooms with en-suite bathrooms and walk-in closets. maintain the quality of the Sherwood community, the developer reserves the right to modify maps, floor plans, exteriors, specifications, features, and product types without notice or obligation. Any models shown do not
+1.805.373.5992
reflect a racial preference. If you have any questions regarding the Sherwood community, please contact the sales office of Sherwood Valley Realty, Inc. (License No. 01059113) at (805) 373-5992.
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southern california luxury real estate
SHERWOODREALESTATE.COM
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SPORTING ESTATES
Game Set and Match S
toke Park has a certain gravitas that few stately mansions muster with ease. Basking in 300 acres of historic parkland, lakes and formal gardens in the leafy heart of Buckinghamshire, just 35 minutes’ from London, this imposing Palladian mansion designed by architect to the Crown, James Wyatt, is the quintessential English county house retreat. But more than anything, it is one of the finest examples of the UK’s prestigious country club heritage. First-time visitors to the estate might instantly recognise the magnificent golf course featured in one of the most famous golf duels in cinema history between Sean Connery’s
One of the UK’s most iconic country clubs, Stoke Park has both leisure and pleasure pursuits at its heart. By Stevie King
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. The course has received many accolades over the years, including ‘Top 100 Courses you must play in the World’ by Golf World. It’s a testament to Colt’s genius that his designs are still admired today by golfers at every level of the game. 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. If a rally session or an energetic doubles game is more to your taste - Stoke Park’s Tennis Courts set within and around the Club’s multi award-winning £20 million Spa, Tennis and Health Pavilion may well fit the bill. The facilities are amongst the finest in the country, with four floodlit artificial
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STOKE PARK FAST FACTS
clay courts, three indoor carpet courts and six Wimbledon specification grass courts, ensuring that the game can be played and enjoyed all year round. A highlight in the Club calendar, in the week prior to The Wimbledon Championships, the estate hosts The Boodles, an
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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
event that sees a host of the world’s Tennis elite preparing on Stoke Park’s very own Wimbledon Specification Grass Courts. Since 2002, this tournament has had the pleasure of welcoming some of the biggest stars in Tennis history. For five action packed days - the game’s finest go head to head on stadium court in front of sold out spectators. The unique mix of an intimate English garden party and a select group of the world’s tennis elite creates a viewing and entertainment experience that the big tournaments simply can’t match; championship players, sumptuous luxury and five star catering without the crowds and queues of the Grand Slams. This year’s tournament held from June 21st - 25th, will once again host some of the world’s most exciting tennis stars, playing in front of no more than 1,900 fans. Home to a 5 AA Red Star hotel, Stoke Park also boasts a host of additional leisure and pleasure amenities including a state-of-the art gymnasium, beauty spa, indoor pool and steam rooms. The beautiful Grade 1 mansion sports 21 luxury bedrooms and suites with a further 28 in the neighbouring Pavilion as well as three restaurants including the three AA Rosette awarded Humphry’s. Whether you choose to spend the day striding the fairways, practising one’s serve or simply soaking in the ambience of the expansive grounds, this countryside escape caters to all tastes and proclivities.
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SPORTING ESTATES
ONE
of a kind As a resort Gleneagles is famous – and award-winning – for its golf courses, dining experiences and spa, but the estate setting allows for many more country pursuits. By Serena Templeton
T
he verdant fairways of Gleneagles are a welcoming sight to golf fans from around the world. But that doesn’t mean outdoor pursuits are limited to the pristine fairways, because when it comes to things to do the resort is a treasure trove of family fun and outdoor adventure. Open to everyone from crack-shots to those who are new to the sport, the legendary Shooting School’s world-class facilities make this sport one of the estate’s most popular activities with a range of options – including Clay Pigeon, Air Rifles, Archery and full stalking and shooting breaks. A legacy from the days of countryside hunts, the hotel has always had kennels and gun dogs. Today, Gleneagles boasts a prestigious Gundog School where visitors have the opportunity to work with a very affable group of sleek Labradors – learning how to make the most of their agility, incorporating obedience and handling. Gleneagles’ trout lochs provide the finest fishing for the expert seeking to extend their range or for a wonderful introduction to the sport. Ghillies provide a fisherman’s knowledge of the water, some wry local humour and advice on the best tackle, flies and strategies for an unforgettable experience. Novice and experienced anglers can enjoy their sport on six lochs in the vicinity of the estate; all stocked with brown and rainbow trout. Your catch can be cooked by the chef for a celebratory meal, or chilled and vacuum packed to take home. Salmon fishing on rivers is available seasonally. Closer to the hotel, guests can enjoy the ancient art of Falconry with lessons suitable for the whole family. Off-road driving in 4x4 Land Rovers offers exhilaration for thrill-seekers, whilst kids can try out miniature replica Land Rovers or All-Terrain vehicles.
Seasonal Ownership Sitting at the heart of the 850 acre Gleneagles Estate, The Glenmor Village comprises some 53 2, 3 and 4 bedroom luxuriously appointed lodges, all set around a small lake and village green. For those considering ownership there are two available options for tenure: a seven night or short-break (3 or 4 night) stay in the same week every year until 2058. Beyond the Gleneagles facilities available, there are a number of benefits unique to Glenmor owners including a dedicated five-star concierge service, complimentary access to the leisure facilities in The Club, and exclusive owners’ events running throughout the year. And in the event you have other commitments over your ownership period one year, Gleneagles will help you rent your week out. For more information visit: gleneagles.com/glenmor, call +44 1764 694 321 or email own@gleneagles.com
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Make the holiday of a lifetime last a lifetime Glenmor at Gleneagles
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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 Regulation 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. Aand standard A standard AEAGLE standard information information information form form form which which which contains contains this this key this key information key information information in in in GLENMOR words and thethe Device are are trade marks. © The Gleneagles GleneaglesHotel Hotel2013. 2015.®®The TheGLENEAGLES GLENEAGLESand and GLENMOR words EAGLE Device trade marks. 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. Aat standard 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 atstandard Gleneagles The Gleneagles Gleneagles Hotel, Hotel, Hotel, Auchterarder, Auchterarder, Auchterarder, Perthshire, Perthshire, Perthshire, Scotland, Scotland, Scotland, PH3 PH3 PH3 1NF. *Purchasers may only rely on information in the Disclosure Document, whichatisThe available on request. 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 2010 The at The atrequires Gleneagles The Gleneagles Gleneagles Hotel, Hotel, Hotel, Auchterarder, Auchterarder, Perthshire, Perthshire, Perthshire, Scotland, Scotland, Scotland, PH3 PH3 1NF. 1NF. 1NF. The Timeshare, Holiday Products, Resale and Exchange Contracts Regulation Gleneagles toAuchterarder, provide you with certain key information inPH3 relation to the proposed seasonal ownership contract. A standard information form which contains this key information in relation to that contract may be obtained by contacting Gleneagles at The Gleneagles Hotel, Auchterarder, Perthshire, Scotland, PH3 1NF.
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MONACO
PRIME TIME Safe haven Monaco is still top for a pied-à-terre investment, says Irene Luke of Savills Monaco
T
he Monaco property market’s dramatic resurgence as of 2013/2014 continues with demand for rentals still outstripping supply as new residents succumb to its friendly tax regime, favourable climate and tempting lifestyle. Rental apartments (currently priced averagely at €80 per m²) are snapped up immediately as they come onto the market and rental prices are very much on the increase. Clients from all corners of the globe are looking to become residents (Switzerland, the UK, Eastern Europe), a reflection perhaps of uncertainty in other jurisdictions and the relative stability of Monaco’s fiscal and political climate. A one year rental is sufficient to stake a claim to a residence card and very often clients begin with a rental and choose to buy later. The lack of rentals is one factor too in the continued buoyancy of the Principality’s sales market. 2014 was a record year for sales and whilst official statistics for 2015 are still awaited, 2015 would appear a good year. Demand for large family style apartments in particular is high as individuals install their families in the Principality, increasingly keen to take advantage of the excellent local schools and mindful of the fact that Monaco’s streets are considered amongst the safest in the world. Official figures published by IMSEE, a Monaco Government sponsored body, show that sales of residential property in the first three quarters of 2015 were down on 2014 but still up on previous years. For example in the third quarter of 2015, there were 377 sales of apartments considered “old” (i.e. more than 5 years old), down by 6.5% on the same quarter in 2014 but still
a considerable number of sales given Monaco’s tiny size (one square mile only). In a country where the average price per m² for residential property was €37,000 in 2014, space is very much at a premium and location is everything. Monaco breaks down into five areas, the most sought after of which is Monte Carlo right in the centre and home to the Casino and Hôtel de Paris. Prices in this “Golden Square” far outstrip the 2014 average: the asking price per m² for a new building is €100,000 and the apartments sold well off plan even if this area is currently undergoing regeneration and construction sites abound. Even outside the Golden Square, demand is high. Monaco’s newest skyscraper, Tour Odeon, brings one of the tallest residential complexes in Europe to the Mediterranean municipality and has just completed. At 560 feet and 49 floors, the sculpted double tower features 70 apartments, along with a pair of 12,900-square-foot sky duplexes and a 35,000-squarefoot penthouse. All of the apartments are located between the 20th and 49th floors and feature floor-to-ceiling glass walls and elegant terraces which offer panoramic views over Monaco and the Mediterranean. Alberto Pinto has designed the interiors and residents of Tour Odeon can enjoy the bestserviced building in Monaco, including a superb wellness center, a well-equipped gymnasium, swimming pools and gardens and will also have access to a state-of-the-art business center, an entertainment area with a private movie room, and a chauffeured limousine service.
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Monte-Carlo Sun Bloc E-F – 3ème étage 74, boulevard d'Italie 98000 MONACO Tel.+377 97 77 46 00 Fax.+377 97 77 46 10 c.acolas@rosemont.mc www.rosemont.mc
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MONACO
Taking
Stock Jean-Marc Remy and Celine Santos of Rosemont Consulting outline the key tax issues to address before buying property in Monaco and the new European Succession Legislation affecting real estate
I
nvesting in property overseas can be a rewarding experience from both a personal and a financial perspective, but ahead of signing on the dotted line, it’s important to fully understand the tax implications in relation to buying a home in your chosen country, specifically: • What real estate tax framework is in place in the country in which you are buying? • What wider tax structure is in place in the country where the real estate is located? • What is the tax regime in the country of origin of the investor? • Where applicable, what taxes apply in the country where the holding company is incorporated? Once these questions are answered – an efficient tax planning structure can be put in place that best meets your needs. In the case of investing in property in Monaco, usually, Monegasque SCP (Société Civile Particulière) is one of the best vehicles for real estate structuring, particularly for French properties. The SCP allows the optimising of French inheritance tax, capital gains tax and stamp duty land tax (mainly thanks to the deduction of the shareholder’s loans) but also, under certain conditions, French wealth tax. In other aspects, shares of a Monegasque SCP owning French real estate could be subject to French inheritance and wealth taxes but on a pro rata basis only, while French SCI’s shares are subject to such taxes on 100% of their net value. Last but not least, the Monegasque SCP offers full confidentiality.
Points to Consider The law of succession is increasingly an issue due to the growing trend in cross-border mobility of people and of assets and because of the complexity of succession rules in relation to these elements. A major step to facilitate cross-border succession has been the adoption on 4 July 2012 of European Union Succession Regulation rules; although Denmark, Ireland and the United Kingdom are not party to the new Regulation. The main terms of the new European Regulation are: • A single law is applicable to an individual’s worldwide Estate • Inheritance law is now related to the law of the state of the last residence of the deceased, or, in the case of a choice of law through a will, the law in the individual’s country of origin. Lack of security and predictability however still remain: • Inheritance law depends on the particular authority dealing with the Estate. The determination of the competent nonjudicial authorities and legal professionals in a succession case is not covered by the new Regulation, and is dependent on the wishes of the rightful heirs. • The recognition of the choice of law depends on inheritance law. In conclusion, other legal ‘tools’ are necessary to secure crossborder succession. Applying those, where appropriate, will help to avoid or to change inheritance law. A detailed review of all assets involved is paramount, as is a detailed understanding of clients’ individual needs and wishes.
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LE SENS DE L’EXCEPTION EXCEPTIONAL PROPERTIES AND EXPERT SERVICES SINCE 1936
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Capital Real Estate is one of the leading ‘boutique’ agencies in the Principality. We offer a bespoke, confidential and comprehensive service that concentrates on respecting the requirements of both buyer and seller and dealing efficiently, in all respects, with the variety of issues, some of them quite complex, that arise in closing Monaco property transactions. Capital’s affiliation with the JLL worldwide agency network adds a further dimension in dealing with clients from all over the world. Capital also offers useful and practical advice for new residents and in making introductions to the specialised legal and financial services where needed.
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Capital routinely has exclusive assignments and can also act as an expert ‘window’ on and executor for what is on offer through the Monaco agency network as whole. Anne-Laure Salvetat, Directice, is ready to welcome you to the agency and discuss your needs, be they in respect of purchases, sales or rentals
+377 99 99 63 63
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als@capitalrealestate.mc
www.capitalrealestate.mc/en/
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DESIGN & INTERIORS
DESIGN for LIFE The doyenne of exquisite taste, chic hotels and couture, everything Anouska Hempel touches seems to turns to gold. Laura Henderson meets the lady with the Midas touch
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hey say that “magic happens” when Anouska Hempel sets her sights on a design goal. But that’s perhaps only to be expected from one of the world’s most celebrated designers. With a twenty-plus year career spanning architecture, interiors, furnishings, couture and hotels, with a liberal sprinkling of private residence, garden and yacht design thrown in for good measure, her inventive style shows more than a glint of adaptability and tenaciousness. But it’s a multi-tasking mantel she readily confesses hasn’t been “formalised to any degree,” although she admits to wanting to be a designer “full stop, from a very young age.” While industry experts acknowledge the London-based designer as the pioneer of fusing an “east meets west philosophy”, it’s her pursuit of
perfection and uncompromising focus on personality that perhaps sets her apart. “Design is all about making a person feel fantastic in themselves,” she explains. “I’ve always been acutely sensitive to my surroundings, so I began by designing interiors for myself, for friends and the rest just followed. Design, refine and repeat is my philosophy – order is of great importance too – but always undercut by a dialogue with the spontaneous.” But while her creative repertoire these days represents a broad church, it’s her vanguard achievements in the luxury hotel sector, starting with the opening of Blakes Hotel in 1986 in South Kensington, that has been her calling card. Widely recognised as the forerunner to the luxury ‘boutique hotel’ concept, the hotel boasts a seductive mix of design genres from elegant to ethnic: “symbolising her evolving style”, told through accessories, furniture and artefacts found personally by Hempel during her worldly travels. Guest rooms decorated in deep rich tones are paired for subtle contrasts, while public area compositions are dramatic, yet luxurious, down to the carefully placed accessories and cushions. All in all, it’s a look that still has relevance today. “Blakes was created 30 years ago,” she reflects. “If anything however, it’s style is more in demand now than before – a rare feat in today’s transient world.” While she describes her design approach as “classical and contemporary – or sometimes a mix of both,” a touch of magic, she adds, is also key: “I dream it up,” she explains, referring to each project, and then, as it nears completion, “I go and mess it up, and put it in a different way, to make it magical. Magic doesn’t come out of architect’s offices. There has to be an amusement factor, a sense of wit and human eccentricity.” To date, her studio in London Anouska Hempel Design (AHD), which she founded to initially create The Hempel Hotel, has produced a stellar mix of work across the globe, including
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projects in Paris, Palma, Jakarta and New York. Besides hotels and private residences, Hempel and her team of creatives have collaborated with leading international retail brands such as Louis Vuitton – designing a flagship store in Paris and developing international retail concepts and store designs. “All projects are designed with an integrated, holistic approach,” she adds, “embracing architecture, interiors, landscaping and fine detail.” Fundamental to the success of the business, she stresses, is tailoring the design approach to meet client’s individual needs. “My studio is a collective of expertise,” she adds, “combining technical knowledge, engineering, construction, even bespoke craftsmen from textile restorers to swimming pool engineers, all of which gives the broadest scope for projects. But, while new projects beckon – Hempel’s approach remains steadfast: “We rely on the solutions of the past. There are always certain things we stick to, but I lead the team to create an underground look as we’re doing it. Thought goes from the nib of a pen, throughout the room, out the chimney; it’s a complete connection of past experience that leads you into the next thing.” To date, Hempel’s range of residential projects have been eclectic, to say the least, ranging from a contemporary, minimalist Palladian House in Salzburg to a Queen Anne moated house in Wiltshire. All, however, have kept her “creative synapses buzzing”. But it’s to the future she is now looking, and judging by the glint in her eye, inspiring projects are never too far away.
DESIGN IN MIND Baccarat - Morocco Prestigious French crystal house Baccarat has commissioned the designer to create their first ever branded five-star luxury hotel in Morocco. The hotel, sponsored by the Moroccan Royal Family will feature an exclusive B-Bar nightclub using the finest Baccarat crystal stem wear, as well as a guest lounge featuring a chocolatier, a two floor spa and an incredible outdoor rooftop swimming pool. The Garcha, Santiago - Chile The development and restoration of The City Hotel’s ‘double act’ art deco towers located just steps from the Plaza de Armas, takes prime position in in the heart of Santiago’s historic centre. With new courtyard buildings and extensive garden areas, when complete, the development will house 64 hotel suites and numerous entertainment and culinary ‘experiences’. There will also be new cloisters at the rear of the hotel which will back on to the city’s cathedral: the unofficial symbol of the city. Sacoor Hotel, Lisbon, Portugal Destined to be the ‘hidden gem’ in central Lisbon for those seeking privacy, luxury and attentive personal service, Sacoor Hotel’s new designs mix Middle Eastern influences with lots of rose water and orange blossom. Featuring strong black and white designs, the hotel, with 82 rooms, will include a heritage collection with bespoke birdcages surrounding the courtyard swimming pool. For more information visit www.anouskahempeldesign.com
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DESIGN & INTERIORS
GREEN
with envy “O
Investment in your garden can not only provide the benefits of an attractive outdoor area but a financial gain too when you come to sell, advises Laura Henderson
ne of the most delightful aspects of a garden is the anticipation it provides,” wrote the famous English author and illustrator W.E. Johns in 1937. Today, the words might be more fittingly adapted to read, “One of the most delightful aspects of a garden is the added value it provides.” Up to 15% more, to be exact, according to a recent Gallup poll, that brings together research over the previous decade. “These days, outside space however small, comes high on most buyers’ wish lists,” says Francis Bethell of Palmetto Bahamas Real Estate. “Beautiful landscaping not only enhances value and sale-ability of a property, but with overseas clients in particular captivated by a beautiful garden, it can often also be the deciding factor between properties.” It’s a finding backed by global research from market intelligence agency Datamonitor which shows that today’s home owners are not just gardening as a pastime, but rather enhancing their outdoor space as a home improvement exercise. “A well-maintained garden tends to translate into higher value,” adds real estate agent Simon Montague. “Choose a quality design and you could add as much as a 15% increase in value, making it a worthwhile investment in time and resources.”
Even for those not planning to move any time soon, landscaping – both with greenery and with structures such as arbors, trellising and barbecue pits – can also be a valueadded investment in terms of intangible benefits – top of the pile being the feel good factor. “Nature has a huge part to play in healthy brain development and socialization,” stresses landscape architect Nancy Somerville. “We’re hard-wired to respond to it in good ways, without realising it, so it’s a healthy influence for us to be around.”
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Abode2
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DESIGN & INTERIORS
So is it worth calling in a professional designer and shelling out on a total makeover? Property consultant, Paul Barnett advises proceeding with caution. “People often prefer a blank canvas to work on, with fussy designs seen as costly and not at all user-friendly. Garden enthusiasts will always be on the look-out for special features — a water feature, interesting gradients, but a ‘designer’ garden particularly if it’s a second home, is the last thing most buyers want, as it spells ‘high maintenance.’ Prospective homeowners might gaze longingly at your well-tended beds and manicured hedges, but they’ll also be mentally totting up the time and expense required to keep it looking good.” So what easy-care elements should homeowners look to
incorporate into their garden design for added value? For mainstream appeal, garden designer Javier Lozano advises mixing different varieties of plants which offer year-round colour, while balancing trees with vegetation, and allocating designated areas for recreational use. “Buyers today tend to be on the lookout for outdoor space that has multiple applications, a private courtyard that doubles as a sun terrace and outdoor dining area for example.” he explains “Non-gardening buyers might not be overly focused on the design, but they will care about size, so give a thought to scale. Open space is good, but a huge acreage can be a turn-off, especially if it lacks the basic ingredients, so have well-marked, attractive boundaries and keep lawns tidy.” Most agents agree that a terrace area and defined walkways can also make a house appear bigger. “It’s not actual living space, but it feels like it,” says Barnett, “providing an entertainment area while extending the home’s apparent square footage.” Walkways, adds Montague, cost the same per square metre as patios and give the front of the house crucial curb appeal. “It’s all about creating a good first impression. By setting the scene outside, you’re sowing the seeds for a positive experience when you head indoors.” As for vendors keen to stand out from the competition: “A piece of bespoke outdoor furniture or sculpture, are perfect talking-points,” adds Lozano. “Choose one or two unusual plants of exceptional quality for their form, texture and growth habit. Anything different, that’s timeless, is a winner. Small trees also don’t suggest a garden with any depth. So where possible, invest in mature plants and trees to give a more established, age-mellowed feel. The key is creating good karma – achieve that and green fingered buyers will come flocking.”
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Abode2
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DESIGN & INTERIORS
Style
meets substance
Stevie King catches up with garden design duo Jane and Richard Clifford for a masterclass in heavy metal
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s with most new business ventures – the journey to success invariably starts with a leap of faith. Jane and Richard Clifford are no exception. 2011 marked a seminal year for the couple with the launch of their garden design company, A Place In The Garden. Not only did the duo open their doors to the world going live with their online portal – they also secured a premium platform to showcase their exclusive collection of zinc planters and ornaments at the prestigious Chelsea Flower Show. While the creative couple have been in the interior design business for 25 years – time felt right for a “change” as Jane explains: “We often incorporated Zinc-ware within our various home design schemes. It started to prove increasingly popular.” As the only supplier of the product in the UK, the couple felt confident that they could expand their range into the garden and outdoor living arenas: “Even in the depths of the recession we knew there was sufficient demand to make a go of it,” she adds. “Looking back now - it was all rather mad,” reflects Richard. “Even the Hampton Court Flower Show stemmed from a letter I sent at the eleventh hour asking if we could have a trade stand. I remember thinking it was all very off the cuff – as the event was just two months away.” Included in their application however, was a beautiful water colour sketch of the couples’ creative vision for the stand. “We were
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stunned to get a phone call from the show organisers a few days later asking if we could get there in 10 days.” From a standing start, Richard and Jane had just days to design, spec and build their stand, commission the making of the Zinc products, build a website and have their literature printed. It was, however, recalls Jane: “worth every waking moment of stress.” Fast forward to today and A Place in the Garden has become an entity in its own right at the Show with four exhibitions under their belt and the stand getting grander each year. Next year, adds Jane, will be no exception - extra space, bigger ideas and a whole new range of water features to display. “You could say we straddle the divide between art and function. Having a practical purpose can help a
piece find a buyer, but if a sculptural piece has an additional function, this broadens the appeal to the client. Zinc products per se are very decorative in nature and can be used as accents in interior schemes or for stand out pieces of art for the garden. It goes without saying, but a lot depends on how you display it,” she adds. As well as the planters and water features, there is also a blossoming range of outside lighting - a “gap in the market” for great looking lights that don’t cost the earth and a complementary addition to the existing range. “While an ornament can adorn and embellish the garden, good lighting serves to enhance the backdrop or gallery,” explains Richard. “It’s a subtle differential, but then that’s the beauty of creating atmosphere by design.”
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Designer Outdoor Furniture Abode2 Volume2 Issue11.indb 158
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DESIGN & INTERIORS
Natural Beauty British contemporary artist Jessica Zoob takes inspiration from the ordinary to create dreamlike modern impressionist paintings loved by popstars and interior designers alike. By Laura Whateley
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ussex-based artist Jessica Zoob believes there is beauty everywhere, from the natural Lewes landscape, to cloud patterns, mossy walls, decaying bits of architecture, graffiti, oil on a puddle, or the colour of an autumn leaf. All of these influences can be found in what she describes as her contemporary impressionist paintings, which are not supposed to be figurative or photographic, but works to “dream into”, a reflection of the beauty that she sees all around. “I am inspired by so many things, which I draw on, try and capture and give that back in my work in a way that people can respond to emotionally”, she says, “And what is so lovely is that they do.” Once a year Zoob hosts an open studio, where fans of her work can buy directly from her. This summer she had people travel from all over the world to snap up one of her lauded paintings. One woman from Australia had been keen to buy a piece for five years, but it had taken her that long to book a ticket. She was in tears when she finally arrived. “It’s magical to meet people who like and want to engage in my art”, says Zoob, “they come from all walks of life, from the very wealthy, and a few collectors, to people who have inherited
some money and those who have been fans for a long time and have always dreamed of owning a piece. Art talks directly, emotionally to you, look at painting and you either love it or you don’t.” When it comes to Zoob’s work, most fall into the former
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camp, including Harry Styles who owns a piece from her Dancing with Colour collection. She has been the featured contemporary artist at London Design Week in Chelsea Harbour, and had major collections shown around the UK and internationally, including at the Rove Gallery in Hoxton Square, The Great Room 1508 London and Medici Gallery, Cork Street. She has also become the go-to artist for many leading international interior designers. Big commissions include works for the entrances of the Lancaster hotel in Hyde Park, a palace in Dubai and Pavilion C in Richard Roger’s NEO Bankside. Some of her pieces were chosen to adorn the walls of the private apartments, and another, Walking in the Rain, hangs in the foyer for all to see. You may recognise Zoob’s work from soft furnishings, too. In January 2014 she teamed up with Romo Black to create a collection called Desire. Her paintings, including Pleasure Gardens, inspired by Zoob’s memories of travelling in China and Indonesia, and Breathe, which is about taking time out of a frenetic life to gaze into a piece of art, were translated onto digitally printed linens, velvets and wall coverings. Even
if you can’t afford an original print, you can enjoy a dreamy landscape on your sofa with a cushion. Her Big Smile pattern, available on curtain fabric and wallpaper, and reminiscent of a Monet landscape, was awarded an Elle Decoration British Design Award in 2014. Zoob is passionate about art not being elitist and she sells her work for a wide range of prices. You can buy original oil paintings, Limited Edition prints and even postcards via her website www.jessicazoob.com. Zoob trained at Central School of Art and Nottingham University, before becoming a theatre designer. Struggling to juggle the demands of travelling in her job with new motherhood, in 2000 she made a millennium resolution that she would turn to painting full time and has been building her collections, since. It can take her up to eight years to finish a piece, each one is created by layering up oil paints, a long painstaking process, and, she says “you may only see 5 or 6 per cent of each layer in the final work”. She believes oil has exceptional properties, giving colours “solidity, lustre and depth”. She also uses acrylics, and gels textured with glass, cement, sand or crushed garnet and gesso to create strong textures. On average each painting takes about two years, and she will work across several at once in her studio five minutes from her home, on a farm, in Lewes. “I am very disciplined generally, but I want to be there. If I’m working I will completely lose track of time. If it’s a large piece, the process might take me seven or eight hours, once I start I cannot stop until I get to the end of a particular detail, I won’t even pause for a cup of tea.” Her favourite canvases are huge, some commissions as big as three by 18 metres, and she works on between 20 and 50 paintings for each collection. At the moment Zoob is spending a lot of time in her studio, where she often works alone for months, or years, before showcasing her work to the public. She started her latest collection about a year ago and will be showing it for the first time in Spring 2017. “It will be epic when it’s finished, I think about 50 paintings.” She adds: “When I started I was doing six or seven exhibitions a year. It is lovely to have got into a position now where I can step back and really immerse myself in work, and then re-emerge back in real world and to show it periodically. It is such a delightful experience to then see people’s emotional reaction to it, it is like them meeting my babies. I have lived with these pieces for such a long time, and I like to know that the person who buys will take my painting home and it will be loved.”
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DESIGN & INTERIORS
Forward thinking C
offee coloured neutrals and champagne golds meshed with a unisex palette of muted blues, aubergines and yellows will be front of house in the design stakes this year. This engaging yet effortless partnership has remained an interior style staple for decades and its popularity still stands strong today. A case in point is Touched Interiors’ new look showroom which has just been updated to reflect this neutral trend – one that also demonstrates that muted tones don’t always have to be mellow and subdued to make an impact. Mixing this colourway backdrop with bold signature pieces works beautifully as a design theme. Think curves, geometrics and strong patterns and paired with plainer, textured pieces. The use of artificial lighting is a critical element to creating the finished look. Oversized lamps, ceiling lights and wall sconces marry the dramatic yet light and bright style with a more intimate, romantic sanctuary; essential for those atmospheric sundown evenings. 2016 will also be a big year for soft furnishings – with a confident application of contrasting textures and colours. A prime example is a neutral seating arrangement dressed with custom-made cushions finished in shimmering, light reflecting fabrics and textures. Creating the perfect balance of patterns
With a plethora of new design trends vying for attention in 2016, Kunal Trehan of award-winning interior design consultancy, Touched Interiors, reveals those set to take centre stage
and plains is also key. For added impact – consider placing leather and fabrics next to one another - textured leathers with metallic or woven detailing work beautifully together. The opulent variants and themes you can create with this palette can’t fail to impress.
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ABOUT TOUCHED INTERIORS Touched Interiors offer a full spectrum interior design service for a high end residential clientele. Taking charge of individual commissions from conception through to completion with unrivalled customer service and after-sales care; their expert team of designers work with photo realistic drawings, mood boards and samplings to bring to life individual design templates. Clients also have exclusive access to an extensive portfolio of products not seen in their online collection. For individuals seeking interior inspiration Touched Interiors also offer exclusive private shopping experiences - a complimentary service with the charge fully refundable against any order. This service works particularly well if a client is looking to handpick those all-important finishing pieces or has a makeover look ready to deliver right down to the finer touch point details including utilising drawings to ensure that furniture chosen fits the space. One-to-one consultations can be arranged from the comfort of your own home as well as their showroom.
The World’s Most Luxurious Furniture Order Our Opulent, Glamorous & Customisable Collections Online, By Phone Or In-store 0845 463 0083 Abode2 Volume2 Issue11.indb 163
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SMART LIVING
FUTURE PERFECT Fascinating wonders of technology are now dominating the modern household. Stevie King raises her home’s IQ by delving into a world without wires
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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 millionaires’ pads getting 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 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.
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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, hence 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.
What are the key elements of SHT?
How easy is it to smart proof your home?
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 one 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.
There is no “one size fits all” solution. Smart convertees are looking at a bespoke service based on the size of their property and the complexity of technology installed. Although simple DIY Internet-linked home appliances have hit the market, 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 get 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, 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 structured wiring regime, with mainstream developers like Laing and Octagon leading the way.
What are the benefits? Smart homes are 100% 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
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SMART LIVING
Mind the App
From security to lights to climate to entertainment, there is an app for all things home automation, allowing you to control your house, whether at home or away, in real time, says technology expert Krissy Rushing
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ith the Apple App Store and Google Play Store both having around 1.6m apps available, it’s hard to separate the wheat from the chaff. Add often confusing home technology to the mix, and it’s nearly impossible to figure out the best options and apps for your integrated home. There are however a handful of standout options to help guide you in your quest for a smarter home.
SmartThings (Free, iOS) SmartThings wants to make your smartphone the remote control for the everyday objects in your life by connecting various sensors and devices to the SmartThings platform. Customers get a kit that includes a SmartThing hub and a variety of sensors. Simply connect them to your devices — whether it is a coffeemaker or garage door — and then easily control and monitor them from your iPhone. The technology is open, meaning you can choose any compatible device to add to your system and pair it with any app (SmartThings even suggests the most popular apps for your device). Once connected, SmartThings devices will be able to tell you if there is a problem at home — like the oven left on — and allow you to remotely fix the problem. Most importantly, these SmartThings are able to talk to each other, creating a flow of information from device to device, and when devices begin talking to each other, the possibilities are endless. When a door is left open, for example, the AC adjusts so you don’t waste energy and ‘oops moments’ are totally avoided. The SmartThings mobile app for the iPhone pulls other apps through into its own graphic user interface, consolidating home automation apps, meaning you don’t have to open several apps to control different subsystems in your home.
Ninja Blocks Like SmartThings, Ninja Blocks fall under the Internet of Things category, and are likewise going like hotcakes. Ninja Blocks are tiny cloud-enabled computers that receive input from a sensor and can react accordingly. You are in charge
here thanks to the Ninja Rules Engine, which lets you create your own apps for how your home behaves, without any programming knowledge whatsoever. This is the ultimate app for the DIYer: one you build yourself.
WeMo Belkin’s WeMo is a handy little device that turns anything you can plug into the wall into a smart device. WeMo lives on your iPhone or Android via the WeMo app. Did you forget to turn off your GHDs? Simply check your smartphone and turn them off on your way to work. You can even put your appliances or other devices on a schedule: Wake up to a fresh cup by connecting your coffeemaker to a WeMo switch and set it to begin brewing at 7 a.m. One of the best things about WeMo is that you can automate as much or as little as you like.
Savant TrueControl (Free, iOS) Savant was the first home automation company to build their entire platform on Apple’s operating system, meaning that it’s incredibly easy to use, featuring the familiar look of Apple’s user interfaces. Savant’s TrueControl app works in conjunction with a Savant home automation system for two-way control in which one Apple machine (your iPad) is speaking to another (your Savant gear), making operation easy and quick. Remote access is a given, considering this control system was made for the iPhone and iPad and operates via a Wi-Fi or cell network whether you are at home or away. Savant’s TrueControl also enables you to change backgrounds, icons, control categories and channel favourites.
Philips Hue (Free, iOS, Android) Meet Hue lets you play with the tone, contrast and colour of light to create any lighting mood you want. Having a party? Set the various Hue bulbs around your home to different colours or set a festive mood for Halloween or Christmas by adjusting colours accordingly. Control every Philips Hue bulb in your home from your smartphone thanks to this app, which eliminates the need for a light switch altogether. www.meethue.com
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Your Infinite Possibilities
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Intelligent Interiors specialise in finding the right home automation and smart home solutions to reflect your personal requirements. From home automation systems, home cinema, whole house audio and video, through to networking, lighting control and state-of-the-art security systems. From a single room to an entire property, we deliver seamless smart home solutions which blend perfectly into your living environment.
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Lightplan is a bespoke lighting design company who over the past 30 years has completed more than 600 projects worldwide. We always incorporate the latest technologies into our designs and our multi-disciplined team are capable of adapting to projects of all sizes and complexities. Each commission is designated its own personal project designer specialising in the relevant ďŹ eld whether it’s for a private residence, property development, art gallery, museum, landscape or commercial enterprise.
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Our role as Lighting Designers is to bring fluidity, function and aesthetic to Architectural and Interior Design.
Lighting design • Supply • Lighting control • Project management Programming • Commissioning • Maintenance
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jroberts@lightplan.org
+44 (0) 20 7584 1240
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BIG SCREEN THRILLS For big screen entertainment, Tillman Domotics is the go-to provider for bespoke home technology you can trust and enjoy, working globally on high-end residential and commercial projects. Movie watching is as popular as ever and having a home cinema is a must-have for many prestige properties. Tillman Domotics offers a wide variety of custom-made solutions with many of its world-class home cinemas specified as part of a complete home automation package that includes multi-room audio visual, security, lighting, HVAC and data control from a single iPad or touchscreen.
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To discuss your technology needs, contact our London office today on +44 (0) 20 7078 9302 www.tillmandomotics.com
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CARIBBEAN RETREATS
SMART Move
Dustin Delany of Delany Law explains why the Special Entry and Reside Permit (SERP) is proving particularly attractive to HNW foreigners looking to put down roots on the island When was the SERP programme introduced and why? The SERP was introduced by the Barbados Government in 2012 as a means of providing an opportunity for high net worth individuals to obtain residency status on the island. The intention was to provide a credible, cost-effective means and user friendly process by which HNWIs, their spouses, and dependents are able to have protracted and less restricted access to Barbados. In September, 2013, a second category of SERP qualification was introduced. The aim of the SERP programme was to build upon the existing platform of attracting HNWIs to the Barbados luxury lifestyle on a more permanent basis whilst affording them access to an environment of rational taxation.
What are the key requirements that HNW applicants have to meet in order to qualify? HNWIs may qualify either by: • Evidencing net worth in excess of US$5 million by submission of a certified statement by an auditor or broker (Category 1). • Making an investment including a property investment in Barbados of at least US$2 million from funds sourced from outside of Barbados (Category 2). ‘Investment’ is defined to include rental real estate, property development projects, manufacturing, tourism, bank deposits, mutual funds or bonds, or any financial instrument. The broad scope certainly provides flexibility with respect to the types of investments that can be made. In fact, one could qualify for a SERP simply through the purchasing of a residence in Barbados
so long as the purchase price is at least $2 million. This, in and of itself, is a worthwhile investment on its own as the Barbados property market has proven to be one of the most resilient in the Caribbean.
Are there age restrictions for applicants and is the permit granted on a fixed term renewable basis? There are no age restrictions per se for SERP applicants though they are granted based upon the category the individual falls within. This ranges from an indefinite period for those over 60 who are Category 1 applicants to renewable five year periods for Category 2 applicants no matter what age. Category 1 applicants under age 60 are able to renew the SERP and also obtain it indefinitely if certain criteria are met. The Category 1 SERP transitions to indefinite at age 60. Category 1 SERP holders are also entitled to work permits upon payment of a one time or per annum fee.
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If successful, what associated benefits are available to an applicant’s spouse and dependents? The spouse and dependents of SERP holders are also eligible to obtain SERPs. Minors will be granted an automatic SERP until age eighteen and student visas are automatic during this period of time. Once over the age of eighteen, a dependent will be able to maintain the SERP so long as he/she is attending school and evidence to this effect needs to be produced every three years. Barbados boasts one of the highest literacy rates in the world and the island is well known for its sound education system, both public and private. Access to this is well sought after and products of this system test into top tier universities around the world. Spouses are eligible for work permits; otherwise, the Barbadian social infrastructure is wide ranging and full of options.
Is Barbados an attractive location for HNW foreigners looking to relocate? The intention of the SERP was to have across the board appeal in terms of attracting retirees, professionals of all ages, and those simply desiring the Barbados lifestyle offering. Barbados’ reputation as the jewel of the Caribbean is internationally known and has long been a popular destination for HNWIs. Barbados is also an international business and financial services centre with an extensive network of bi-lateral investment and tax treaties, low tax rates, and a developed infrastructure. It has an expansive selection of vehicles and products for investment, insurance, and wealth management. This provides SERP holders the option of
working from Barbados as many HNWIs have done so over the years. SERP holders are able to establish tax residence in Barbados. Barbados is free of the burdens of capital gains, inheritance, and wealth taxes. Barbados also offers the foreign currency tax credit (FCTC). Persons resident but not domiciled in Barbados to be subject to tax on income derived in Barbados and income derived elsewhere but remitted to Barbados. Depending on the percentage of foreign currency earned in relation to the total earnings taxable in Barbados, the potential tax credit can amount to 93% of the income tax that would otherwise be payable in Barbados. In other words, it is possible to achieve an effective tax rate as low as 2.45% as to foreign sourced income brought into Barbados.
Has programme uptake been strong? The Barbados Government hit the bull’s eye with the SERP. Whilst other governments in the region have decided to go the route of citizenship by investment, Barbados differentiated itself from its Caribbean counterparts in offering residence (including tax residence) specifically to cater to the HNWI. Barbados is one of a few paradises in the world that is able to satisfy the discerning HNWI. Moreover, a luxury Barbados property investment has proven to be a sound purchase even during the recession years. The market continues to improve due in large part to the SERP which coincidentally has timed perfectly with the resurgence of the luxury real estate market in Barbados. This, complemented by the increasing demand for reasonable tax climates, has Barbados poised for continued growth as the SERP programme continues to garner recognition.
Connecting Clients with the Caribbean Defining standards throughout the Caribbean, Delany Law continues to assist clients to navigate the complex nature of the regional legal environment. Our geographic footprint is unparalleled affording our global clientele certainty, convenience, and cost-effectiveness as we bridge the gap between the Caribbean and the rest of the world.
Anguilla Antigua & Barbuda Barbados Belize British Virgin Islands Dominica Florida Grenada Guyana Jamaica Montserrat St. Kitts & Nevis St. Lucia St. Vincent & The Grenadines Trinidad & Tobago
delanylaw.com Burnham Court • Bishop’s Court Hill Upper Collymore Rock • St. Michael Barbados, West Indies • BB11115 Telephone: 246-228-2260 • 954-654-7071 Fax: 246-228-2264
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Ginger Lily, Turtleback Ridge
LUXURY HOMES IN BARBADOS Our brand is known throughout the world for representing homes that embody the rich tapestry of varied lifestyles, distinct settings and diverse locales. Where the utmost quality is considered intrinisic.
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Atelier House, St James
Bonita Bay, St James
Windfall, Apes Hill
1 246 432 5050 sales@westcoastvillas.com www.westcoastvillas.com
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CARIBBEAN RETREATS
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 to 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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CARIBBEAN RETREATS
Caribbean Queen
Arawidi, Apes Hill, St. James
With some much needed liquidity returning to the market - there’s no better time to purchase your dream island home than now, suggests Paul Alleyne, Director of Sales for Alleyne Real Estate
A
variety of indicators suggest that the Luxury Property Market in Barbados is well positioned for increased growth during 2016. These include added airlift, increased foreign direct investment, well performing economies in source markets, turmoil in competing destinations such as Europe and the Middle East and importantly Barbados’ reputation of offering a safe and stable environment for visitors and investors. In 2015 Barbados recorded the greatest number of tourist arrivals in its history. So where are the sought-after locations for investment? For Royal Westmoreland, 2015 was one of its best sale years on record and the resort continues to diversify its offering with the launch of its new fractional ownership programme and bespoke villas on Lancaster Ridge. With its established community and well developed amenities, it remains a winner with many investors and the coming months should be no exception. In other areas, construction of Apes Hill’s clubhouse is well under way with completion set for Christmas 2016 and this will undoubtedly propel this stunning development forward. Port Ferdinand and St. Peters Bay both offer exceptional luxury apartment purchase
opportunities on the beach front and boast fantastic lifestyle amenities. Prestigious areas such as Sandy Lane Estate are still viewed as prime investment areas with several renovations ongoing and a few luxury builds just completed. Other luxury estate areas include Mahogany Woods where the newly listed and stunning Treetopia property offers 3 acres in a gorgeous mahogany grove and sea views through the canopy of the trees. There has been tremendous absorption of re-sales along the beachfront, specifically in terms of apartment sales. Beachfront land remains highly coveted with very few lots presently available. But for those investors with the vision and appetite for a luxury beachfront build, there are still some fantastic properties on offer, including 35,000 square feet at Monkey Bay which is just a few minutes walk along the beach from the famed Lone Star restaurant. Barbados offers investment opportunities at every level and lifestyle. World class golf, polo and phenomenal restaurants are only a few of the other reasons to choose Barbados. The rest of the forecast? Plenty of sunshine expected. Book your flights and pack your sunscreen as the coming season should be a hot one.
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CARIBBEAN RETREATS
We are
F A M I LY
The stunning Crane Resort is synonymous with shared ownership in Barbados. James Matthews meets the owners who call the community their home-from-home
R
enowned for its hospitality since 1887 and the oldest operating resort hotel in the Caribbean, The Crane has long attracted guests to its soft pink sands and turquoise waters – regarded for their reputed ‘healing powers’. Today, the resort remains a place of rejuvenation and wellness with its breathtaking beauty and cooling trade winds. Steeped in history, inspired by heritage Barbadian architecture and punctuated by lush landscaped gardens, residents enjoy all of the amenities and services expected of one of the world’s premier resorts. Owners can savour superb local and international cuisine from a selection of five restaurants, including the number #1 Zagat Rated restaurant, Zen; meet friends at one of The Cranes two ‘historic’ bars; indulge in shopping, entertainment and more in The Village, the hub of The Crane community; and enjoy the resort’s spectacular spa, tennis and fitness facilities.
HOME OWNERSHIP As a Crane owner, individuals immediately become part of a select community that demands luxury, yet one that is also mindful of value; treasures community, but also savours privacy. Fast friendships often form easily with like-minded neighbours, and seeing familiar faces year after year can quickly become the most anticipated part of one’s holiday.
VALUE The Crane offers all the luxury amenities and services one would expect, at a fraction of the cost of comparable luxury developments. The formula lies in the developer’s model of vertical integration. With all aspects of business carried out in-house, from design to construction and operations, the resort is able to bypass expensive third party suppliers and pass those savings on to residents by way of low, fixed prices. The developer, Crane Resorts, offers unequalled value in
both up front purchase price and annual expenses, minimising lifetime ownership costs and maximising financial returns. For its naturally spectacular location, stylish vacation residences, and world-class amenities, The Crane has been recipient of AAA’s prestigious Four-Diamond award for the last eight years. This value offering is further enhanced by The Registry Collection, the leading luxury holiday exchange programme with over 200 properties accessible for exchange across six continents. With The Crane’s number one rating in the Collection, owners receive up to five times the exchange value, per dollar, of other prominent vacation clubs.
FLEXIBILITY Crane owners can enjoy the ultimate in flexibility, with the option to choose the ownership type that is best suited to their lifestyle. • Residential ownership - own your residence outright, and have complete access to all five-star resort amenities • Fractional Ownership - enjoy the benefits of a second home, without the commitment of a residential purchase. Own a fraction of a specific residence for a specific time each year, ranging from several weeks to several months. Fractional Owners also enjoy all the flexibility of the Crane Vacation Club. • Crane Vacation Club - own an annual allotment of points, for holidays in ultra-luxurious residences at The Crane, its sister property Beach Houses, or worldwide, at a fraction of ordinary hotel rates and other vacation club prices.
SECURITY The Crane has been owned and managed by the same company for over 45 years. Property investments are protected by a third party trust structure administered by First National Trustee Company (FNTC). Through this structure, ownership can be willed, transferred, or sold at any time. To learn more, visit www.craneresorts.com.
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Meet the Owners Name: John and Janet Morgan
Name: David and Cynthia Bishop
Nationality: British
Nationality: British
Type of Property Purchased
Type of Property Purchased
We originally bought two weeks in a twobedroom ocean view residence in 2000. Since then, we adjusted and increased our ownership to include different weeks in different units and now, we fully own a One Bedroom Penthouse Residence in The Crane’s Park Residences.
We initially purchased two weeks in a beautiful two-bedroom apartment in 1999 for US$ 18,810.00. We have since adjusted and increased our ownership to include more weeks in different units as the resort became more developed with new types of residences and fantastic amenities added.
What key factors influenced your decision to buy?
What persuaded you to purchase?
Primarily, it was the fact that The Crane didn’t try to sell to us. We’d been to Barbados many times before and our friends had always recommended that we visit the resort. One occasion we dropped by and were given a guided tour. We hadn’t considered Fractional Ownership before and there was absolutely no pressure to purchase. We nevertheless ended up buying two weeks in a beautiful two bedroom residence that very day.
different from other programmes which have durations of 20 and 40 years. Another attraction is that ownership is securely held in trust by a 3rd party trustee company.
We visit twice a year for two weeks at a time, in various months.
How do you like to spend your time?
How does ownership work?
The Crane is unique in the fact that there’s a tangible sense of community. It’s a great place to meet and to make friends. We typically spend our time relaxing in our home, by the beach or pool as well as catching up with fellow owners. For us, it’s a true home-from-home.
In a nutshell, it allows you to match your financial outlay with actual usage. It especially works if you want to make Barbados a regular destination or if you want to explore the world through vacation exchanges. The Crane is among the highest rated resorts in both RCI and The Registry Collection vacation exchange networks, so its premium rating provides extremely favourable exchange rates to other destinations.
The certainty of having a vacation home that is well maintained in our absence and guaranteed at the times of year we vacation. The ability to explore the world through week exchanges to other resorts is also a key draw.
What are the key benefits to ownership?
The 999 year lease on offer amounts to a virtual freehold ownership which is starkly
Resort Owner and Managing Director Paul Doyle is a visionary and it was his passion and plans for this project that convinced us to buy. How often do you visit Barbados?
In your eyes - what are the primary benef its of ownership?
What advice would you give to those considering buying a fractional share in a resort development?
Be sure that it suits your needs and that you will make full use of it.
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CARIBBEAN RETREATS
Into
the Blue
Barbados’ brightest new luxury resort, Port Ferdinand has raised the pamper benchmark a notch higher with the opening of its Signature Spa. Abode2 pays a visit
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ocated on the island’s scenic northwest coast, Port Ferdinand certainly delivers the wow factor with its exclusive collection of 46 luxury homes for purchase and rental, each with its own yacht berth. Homes range from 2,500 square feet up to 6,100 square feet with property prices starting from US$2.15m for a two-bedroom marina view residence up to US$6.5m for a four-bedroom ocean and marina view penthouse. Property ownership under luxury resort brand UNNA also includes the option of duty free importation of a yacht or motor boat. For those keen to escape the winter blues for a sun-soaked top up - luxury home rentals are also available starting at US$950 per night. Delivering a further home-from-home treat to residents and guests alike, the resort has recently opened a stunning new oasis of relaxation and rejuvenation - The Sandbox Tree Spa. Boasting scenic views overlooking the marina, The Spa’s 186 Abode2 // Volume 2 Issue 11
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signature offering includes a range of bespoke treatments and retreat packages, using the renowned Bamford Body Line botanical range. Designed with R & R in mind, the spa layout incorporates a suite of Zen inspired treatment rooms with outdoor steam showers and private gully garden, together with a separate manicure and pedicure salon. For a special occasion, guests can also opt to have their treatments carried out in the comfort of their resort home, or one of the unique PF private seaside cabanas. Renowned for its commitment to nature and purity and drawing on traditional massage techniques including shiatsu, meridian and yogic breathing; the Bamford collection forms the basis of all beauty, massage and therapeutic treatments offered at the Spa. Bespoke Retreat Packages available combine several popular treatments including the four-hour Love Retreat which incorporates a Bamford Signature Treatment, Food Detox and a De-Stress Head Massage. One to three day wellness packages can also be tailored to guests’ particular needs. Commenting on this latest addition to Port Ferdinand, Eoin O’Sullivan, Group General Manager of UNNA Resorts and Residences says: “The Sandbox Tree is the perfect addition to the range of first-class amenities offered at Port Ferdinand. Visitors can enjoy the finest treatments available to maintain their well-being, all delivered in a truly captivating environment.”
PORT FERDINAND HOME STYLE Whereas the marina is Port Ferdinand’s heart, the homes stand as the inimitable signature of this waterfront community. With 2,500 square feet or more of living space, each property carries a superior level of finish and design that is complemented by a modern sophistication, unique to Barbados villa living. Beyond the uninterrupted marina, Caribbean Sea views and direct dock access; it’s simple refinement that sets Port Ferdinand residences apart. Hand-crafted stone and woodwork, indigenous materials, rich colour tones and palettes, stunning marble and tile - these features and many more are what discerning Port Ferdinand homeowners value. And with a variety of two, three and four-bedroom designs to select from, you have the comfort of choice to provide family, friends and loved ones with a safe and secure sense of home. For more information: visit www.portferdinand.com Volume 2 Issue 11 // Abode2 187
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CARIBBEAN RETREATS
EPICUREAN ECSTASY Widely regarded as the Caribbean’s capital of cuisine – Barbados’ bevvy of upmarket dining establishments makes for a journey of culinary discovery. Abode2 reveal four of the island’s finest Zen
13°/59°, Port Ferdinand
With a focus on Asian inspired culinary excellence, foodies in the know need little encouragement when it comes to securing a coveted window table at Zen. A restaurant with a well-earned reputation for innovative classic and contemporary Japanese and Thai cuisine; Executive Chef duo Ngo Van Cong and Theodore Ashby are a formidable combination; Barbados born Ashby, one of the few Bajan chefs in the island’s top hotel kitchens to bring authentic Asian culinary techniques to every scintillating dish. As the Crane Resort’s flagship fine-dining restaurant – location is everything. Needless to say the spectacular cliff-top setting on the south west coast, can’t fail to impress. Inside, the dining experience is subtly orchestrated around traditional tatami rooms, with the help of mood lighting and the deferential service of kimono-clad waiting staff. The crafted ambience of Old Nippon in the New World is completed by the open hand-crafted sushi bar; the talking point centerpiece of the restaurant where chefs prepare exotic fare at slice and dice speed before your eyes. Speciality dishes include sizzling lobster kabayaki served in a cast-iron grill pan, tempura prawns, and succulent stir-fried meats and vegetables in Bajan oyster sauce. An extensive menu of Thai appetizers, soups and noodles from the wok are also available and prepared to an exacting spicy grade depending on individual client preferences. www.thecrane.com/dining
Located in Port Ferdinand, the island’s latest luxury marina resort complex - 13˚/59˚, is a nautical gem of an eaterie. First to grab your attention is the high-style ambience; a lesson in refined luxury with intimate candle lit dining alcoves nestled within curved glass windows; a clever layout that enables guests to dine in a climate controlled environment without sacrificing on the frontline marina views. Al fresco dockside seating is also available with a choice of open à la carte, a 10-dish sharing menu with wine pairing option and a dedicated vegetarian menu; a rarity in Barbados.
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At the helm is Executive Head Chef, Andrew Turner, formerly of Michelin starred restaurant, ‘Chapter One’, in Dublin. Trained in London under Marco Pierre White, Turner has wasted no time settling into the Bajan culinary tempo, opting to showcase the sheer profusion of local produce in tune with the seasons, which make for an innovative and evolving modern menu. The intro sampler courses of the ‘sharing menu’ experience include starters to provoke ‘discussion’ with mouthwatering dishes such as Bajan golden crab with celery and melon, pickled cucumber and ceviche through to asparagus shoots, avocado and ground cashew. Subsequent courses showcase the finest, freshest fish, local pork, goat and rabbit – in demand favourites including sugar cane smoked duck and steamed grouper with coconut sago. The grand finale repertoire of desserts can’t fail to hit a sweet high note with zesty palate cleansing choices such as white chocolate lime and mango mille feuille with fruit coulis. www.1359barbados.com
Cin Cin Situated seaside on the ritzy West Coast of Barbados, and owned by renowned chef and proprietor Larry Rogers and his wife Michelle; it was back in the mid-2000s that this creative duo set about transforming the former Calabaza restaurant into what has now become one of the island’s trendiest al fresco dining establishments serving Mediterranean-style cuisine with a Caribbean twist. Step across the threshold and the chilled sounds of Hôtel Costes waft through the white-out space making you feel as if you’ve been transported from Barbados to Miami. The panoramic view of the Caribbean Sea takes centre stage, highlighted by the vantage point tables that line the perimeter of the deck. The ambience is serene while the decor is hip and luxurious, embracing three dedicated dining zones: the glass encased lounge, the air-conditioned dining room, and the open air deck.
Open for kaftan-chic lunchtime and light bite grazing throughout the day, early evening sunset cocktails and a jazz interlude set the scene for an evening of indulgence. Menu choices prove a distraction for variety from the entrée teasers such as oxtail and porcini risotto with scallops through to the pan-fried gnocchi with jerk pork. Popular mains include grilled market fish on leek and potato puree, and steak frites with french onion rings. Dessert temptations include tiramisu, white chocolate cheesecake, and the restaurant’s Signature creation; stewed guava with drunken strawberries. You have been warned. www.cincinbarbados.com
The Cliff Chef Paul Owens’ culinary mastery and sense of theatre have combined to create a stylishly refined Platinum Coast dine-out haven and well deserving of its accolade as one of the finest dining experiences in the Caribbean. Steep steps hug the 10foot coral cliff on which the restaurant sits over floodlit water with torchlit decks (the restaurant is only open in the evenings) and every candlelit table boasts a sea view. The food is a culinary splurge from start to finish. Entrées tickle the palate for what’s to follow with tempting appetisers such as foie gras and chicken liver parfait with apple and raisin chutney and port glaze, ravioli filled with smoked salmon, cream cheese, spinach, and snails in puff pastry. Main course selections cover the gamut from traditional dishes such as fillet of beef, duck breast with wild mushroom sauce, veal chop with Dijon mustard and tarragon sauce to dishes infused with the exotic such as Thai curried shrimp and grilled snapper with three coriander sauces. Don’t miss the restaurant’s sinful desserts which include halcyon classics such as crême brulée with red berry coulis, as well as baked apple crumble and white chocolate cheesecake. The service is discreet with the legions of staff as attentive to mere mortals as the many celebs that visit. To truly savour the atmosphere - come early and have a pre-dinner aperitif in the swanky upper-level bar. www.thecliffbarbados.com Volume 2 Issue 11 // Abode2 189
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CARIBBEAN RETREATS
New
Beginnings
Michelle Straughan of Barbados Relocation Services explains why the island is a destination of choice for a brand new life in the sun What makes Barbados an attractive destination for overseas buyers? Barbados has an indigenous population of warm and welcoming people who embrace all cultures and nationalities. This openness coupled with our exceptional quality of life, our high literacy rate and reputation for excellence in first world business, makes Barbados a top-tier destination for those considering relocation. You get the best of the Caribbean Island lifestyle with the convenience of metropolitan business.
Have you witnessed any demographic trends emerging in the last few years?
your precious family pet. These elements all feed into quality of life and will help support a healthy transition to a new chapter in your life. They’ll require you to visit personally and see if your on paper choices “gel” with your spirit.
What advice would you give to clients for a smooth move? Be honest with yourself about the things you need to transition to a new country, and be open to the experience. With the right Relocation Consultant, the process can be as seamless and stressfree as possible.
We welcome clients from all areas of the world, but if we were to narrow it down - it would seem that young professional families have the edge. A good many of our recent clients have been families with small children drawn to the island’s excellent school system and child friendly environment. Barbados boasts a ranking of 4th in the world for literacy (UNDP Report). This is evident with the excellent quality of education on the island. There is a good selection of private primary schools, several of which also provide private secondary education, including the International Baccalaureate. A common observation from families who leave Barbados is that their children are often far more advanced than their counterparts in other jurisdictions.
What key services do you provide? We are with you every step of the way - from being your first point of contact whether via email or Skype, getting to know you and your specific requirements. We then tailor our service to fit those needs ensuring that all essential components from housing and schooling, through to vehicular, immigration and medical requirements are met. Nothing is too big or too small - right down to the finer touch point details such as stocking the fridge in your new home with groceries of your choice.
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CARIBBEAN RETREATS
Dream
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Considering a bolthole in Barbados? Worldwide Dream Villas has a few pointers on finding the perfect property
W
orldwide Dream Villas is a boutique agency specialising in luxury holiday rentals and property sales worldwide. The company’s Head Office based in Holetown, Barbados is headed by joint owners, Stephen Grant and Leila Porter. Dividing their time between the UK and Barbados, the duo, together with their on-island team of property experts are there to assist in finding you the home of your dreams - be it for sale or for rental. The jewel of the Caribbean, Barbados has some truly stunning properties dotted across the island ranging from traditional colonial mansions through to stylish turnkey condos. Many are available for rental with dedicated inhouse staff on hand to take care of all your holiday needs from stocking the fridge ahead of your arrival to preparing delicious Caribbean cuisine while you sit back, relax and savour the moment.
WDV understands how precious holiday time can be. That’s why all attention is focused on ensuring clients have an experience to remember. So whether your heart is set on a secluded beachfront retreat, a luxury golf villa, or even a private country estate, Worldwide Dream Villas can deliver your perfect home from home. The Dream A stunning, luxury, contemporary beachfront property available for sale on the west coast of Barbados. Beautifully furnished with 5 large en suite bedrooms, media room, pool, bar and romantic private balconies overlooking the Caribbean sea. POA. Villa Melissa Available for holiday rental - a stylish private villa just a few minutes’ walk from the beach with secluded garden, stunning pool, outdoor bar and al fresco dining area. Available as a 3 bed or 5 bed rental. 3 ensuite bedrooms in the main house and 2 in the stunning coral stone cottage. Sleeps 10. Prices for 5 beds range from US$1,025 per night to US$ 1,500 per night depending on the season. Contact stephen@worldwidedreamvillas.com. Tel: +44 (0) 1625 586 895 For Barbados - visit www.barbadosdreamproperties.com for sales and www.barbadosdreamvillas.com for rentals. For the rest of the world, visit: www.worldwidedreamvillas.com or contact us on: +44 (0) 1625 586 895
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Abode2
SETTLERS BEACH St Jam es - Barbados
The Community – The Location – The Lifestyle Settler’s Beach will be an exclusive gated villa community made up of 12 world-class beachfront town-houses for sale on the West Coast of Barbados. These exquisite residences each with private 20 foot pool, will range in size from 3 to 5 bedrooms, featuring an open floor plan where indoor and outdoor living effortlessly transition to complete an elegant yet comfortable environment that truly feels like home. The interiors incorporate a contemporary yet classic luxury décor which blends harmoniously with the stunning and peaceful surroundings. Also available on the premises are a concierge service and private gymnasium. Tucked away on a majestic and tranquil white sand beach that stretches into the crystalline waters of the Caribbean ocean, Settlers is a haven where time is redefined by moments of unparalleled fulfilment. For more information or an appointment to view - contact us today. 5.75million Prices from US$ 5.75 To register your interest please contact Stephen@worldwidedreamvillas.com or call on + 44 (0) 1625 586 895
Worldwide Dream, Indigo Courtyard, Holetown, St James, Barbados: +1 (246) 432 6307 UK: +44 (0) 1625 586 895 E: enquiries@worldwidedreamvillas.com W: www.worldwidedreamvillas.com
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ABODE2 PORTFOLIO SMART LIVING
SMART LIVING
Intelligen smart ho automat through systems smart ho
Changing the future of sound Your Infinite Possibilities
info@
Now available at Bang & Olufsen of Islington & Winchmore Hill. Book your personal demonstration now.
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Intelligent Interiors specialise in finding the right home automation and smart home solutions to reflect your personal requirements. From home automation systems, home cinema, whole house audio and video, through to networking, lighting control and state-of-the-art security systems. From a single room to an entire property, we deliver seamless smart home solutions which blend perfectly into your living environment.
Imagine a loudspeaker so intelligently conceptualised, so exquisitely crafted, and so finely tuned that it can deliver the ultimate sound experience no matter the circumstance. That is the new BeoLab 90 loudspeaker by Bang & Olufsen. It will change the future of sound.
+44 (0) 845 4501341 info@intelligentinteriors.co.uk www.intelligentinteriors.co.uk
+44 (0) 207 226 3322 | islington@bang-olufsen.co.uk www.bang-olufsen.co.uk/islington
SMART LIVING
SMART LIVING
Integrated Telecoms and Video Entry Specialists
The Stone Cellar Company The Art of Storage
Contact us for a free, no obligation quote or survey 01903 815 262 - info@stonecellar.co.uk - www.stonecellar.co.uk
+44 (0) 207 0780 292 sales@bespoketelecoms.com www.bespoketelecoms.com
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ABODE2 PORTFOLIO HOME STYLE
UK TOWEL WARMERS & RADIATORS
HOME STYLE
exquisite room accessories
baskets tissues jardinières
Your Infinite Possibilities Intelligent Interiors specialise in finding the right home automation and smart home solutions to reflect your personal requirements. From home automation systems, home cinema, whole house audio and video, through to networking, lighting control and state-of-the-art security systems. From a single room to an entire property, we deliver seamless smart home solutions which blend perfectly into your living environment.
bespoke service available
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+44 (0) 845 4501341 info@intelligentinteriors.co.uk www.intelligentinteriors.co.uk
Image showing Keys II - CN030 Vogue (UK) Ltd Strawberry Lane, Willenhall, West Midlands, WV13 3RS T: +44(0) 1902 387000
F: +(0) 1902 387001
E: info@vogueuk.co.uk
W: www.vogueuk.co.uk
HOME STYLE
+44 (0) 20 7209 8762 info@musthavebins.co.uk Studio, London NW6 (by appointment)
HOME STYLE
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ABODE2 PORTFOLIO LUXURY DESIGN
LUXURY DESIGN
EASTWEST ARCHITECTURE CONTEMPORARY RESIDENTIAL + RETAIL ...DESIGNERS THAT CONNECT
6–16 Arbutus Street Haggerston London E8 4DT info@eastwestarchitecture.co.uk www.eastwestarchitecture.co.uk +44 (0)20 7148 0668
Interior Design | Furniture | Accessories | Fabrics Ana Barreto 4-6 Poplar Court Parade, Richmond Road, TW1 2DT. UK. +44 (0) 208 744 9777 • sales@anabarretointeriors.com • www.anabarretointeriors.com
LUXURY DESIGN
LUXURY DESIGN
reader offer enter abode2 at the checkout to claim a 20 per cent discount across the site *
0207 087 2900 | withinhome.com/abode2 *excludes clearance lines
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ABODE2 PORTFOLIO LIGHTING
LIGHTING
www.camerondesignhouse.com
INTERIOR LIGHTING HANDMADE IN LONDON
CAMERON DESIGN HOUSE LONDON
LIGHTING
Dimitri Stefanov Creating and restoring fine rock crystal lanterns and chandeliers +44 (0) 203 715 4321 dimitri@dimitristefanov.com www.dimitristefanov.com
LIGHTING
Statuesque atmospheric lighting Bespoke design service
0845 680 0549 info@inspiralight.com www.inspiralight.com Volume 2 Issue 11 // Abode2 197
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ABODE2 PORTFOLIO LUXURY TRAVEL
LUXURY TRAVEL THE
OXFORD SKI COMPANY
THE DEFINITIVE COLLECTION OF LUXURY CHALETS AND HOTELS A collection of only the best, personally inspected luxury ski chalets and hotels in Europe and North America. An unrivalled concierge service and holiday experience awaits.
Bespoke ski holidays. Your trip, your way.
Talk to us now on 01993 899 420 www.oxfordski.com
www.buildmyskitrip.com info@buildmyskitrip.com
Tel. +44 (0) 203 070 3230 LUXURY TRAVEL
CAMEL
LUXURY TRAVEL
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SNOW
Ski holidays organised by people living in the mountains We live in the mountains and have been teaching skiing for over 15 years making us able to advise you on all elements of your trip.We pride ourselves on our local knowledge to ensure the best possible service and fulfilling your dream holiday.
26/11/2015 13:00
m ce .co ran X fF IN h o L ut A So E e S th w: s in e N fer s an Tr
Our Advantage We are a free service, the price you pay for the property is never more than if you had gone direct. Our Collection With over 300 chalets and hotels across Europe we have what you are after in a luxury ski holiday. Our Service Available 24/7 from the moment you start the booking process you will feel in safe hands. Guestbook: “A hassle free experience, and every detail of our trip was catered for. Rory even skied us back to the airport to complete a fantastic trip!” Sir Richard Branson and Family – New Year 12/13
+44(0) 208 123 2859 • info@camelsnow.com • www.camelsnow.com
The Alps Premier Airport Transfer
+44 (0) 7989 237 117 / +33 (0) 635 37 28 23 transfers@snowlinx.com • www.snowlinx.com
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ABODE2 PORTFOLIO VIP TRANSPORT
VIP TRANSPORT
Global Providers for Private Travel
CHARTER A JET, HELICOPTER OR AIR TAXI
Your Worldwide Private Jet Charter +44 (0) 203 657 9703 fly@prestigejets.co.uk www.prestigejets.co.uk
+44 (0) 207 781 8094 operations@charter-a.com www.charter-a.com
VIP TRANSPORT
VIP TRANSPORT
The Chauffeur Car Service Professional, luxury Chauffeur driven car service
Hackett and Hackett provides executive car hire, wedding car hire and luxury airport transfers to and from all London airports, with an emphasis on quality, reliability and professionalism
+44 (0) 207 735 1073 info@thechauffeurcarservice.com www.thechauffeurcarservice.com
+44 (0) 333 123 0773 info@hackettandhackett.co.uk www.hackettandhackett.co.uk Volume 2 Issue 11 // Abode2 199
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ABODE2 PORTFOLIO OUTDOOR LIVING
OUTDOOR LIVING
Wood And Water
Barlow Tyrie
Garden Furniture by Design Makers of exceptional outdoor garden furniture since 1920. Recipient of eighteen international design excellence awards. At Barlow Tyrie we use only the finest materials from plantation-grown teak to marine-grade stainless steel. That, together with superb craftsmanship and eye-catching designs, promise to deliver a style to suit any contemporary or traditional outdoor space. Our furniture is durable as well as stylish, and will offer you service and pleasure for many years to come.
+44 (0) 1376 557 600 info@teak.com
www.TEAK.com
OUTDOOR LIVING
Traditional Cedar Wood Hot Tubs +44(0)1803 663709 info@riviera-hottubs.co.uk www.riviera-hottubs.co.uk
OUTDOOR LIVING
gardenfurniture4 4u.co.uk u.co.uk gardenfurniture BIGGEST SHOWROOM IN THE UK BIGGEST & SHOWROOM IN THE UK FOR GARDEN CONSERVATORY FURNITURE FOR GARDEN & CONSERVATORY FURNITURE
Bespoke design and build treehouses for all ages +44 (0) 1403 732452 info@cheekymonkey.com www.cheekymonkeytreehouses.com
HUGE SELECTION OF RATTAN FURNITURE, HUGE SELECTION OF RATTAN FURNITURE, OVER 100 SETS ON DISpLAY OVER 100 SETS ON DISpLAY
SALES HOTLINE HOTLINE 01324 01324 630427 630427 SALES 2 MAIN STREET, BAINSFORD, FALkIRk Fk2 7pB 2 MAIN STREET, BAINSFORD, FALkIRk Fk2 7pB
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ABODE2 PORTFOLIO OUTDOOR LIVING
OUTDOOR LIVING
Hardwood Garden Furniture Britannic has been established for over twenty five years, building up a reputation as the West Country's leading garden furniture manufacturer. We have many traditional designs available, however if you can't find what you're looking for, get in touch with us directly and we'll be happy to create a piece of bespoke garden furniture, specifically made for you.
01454 411 601 britannic-teak@gifford.co.uk www.britannic-teak.co.uk
OUTDOOR LIVING
Motorised blinds systems • Conservatory blinds Roller blinds • Venetian blinds Plantation shutters • Awnings & canopies Hand made curtains Contact Simon for a free, no obligation quotation. T: +44 (0) 1483 898 228 • M: +44 (0) 7760 213 844 E: bramleyblindsawnings@gmail.com www.bramleyblinds.com
OUTDOOR LIVING
Bespoke joinery for distinctive garden design GARDEN DESIGN WITH A PASSION We design and build bespoke contemporary gardens with a true passion, offering a full range of design and build services with every project: • Our experienced in house team of garden designers, landscape architects and horticulturalist work closely with our clients from initial conception to installation and after care. For trellis, fencing, planters and other garden features we offer a range of products and services to suit every project; from the distinctive tailoring of bespoke joinery to our popular readymade range available to buy online.
• A dedicated team of highly experienced in house landscapers, plantsmen and project manager will be allocated to every project to completion. The London Landscaping Company LTD 0208 299 6466 • info@london-landscape.com www.london-landscape.com
Plan your project at
www.gardentrellis.co.uk or call us on 01255 688 361
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ABODE2 PREFERRED SUPPLIER HOMES & GARDENS
HOMES & GARDENS
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ABODE2 PREFERRED SUPLIER HOMES & GARDENS
Britain’s Finest Outdoor Furniture & Kitchens Outdoor Kitchens | Dining Tables & Chairs | Loungers | Benches | Tree Seats | Outdoor Sofas
T: +44 (0)1420 588444 E: info@gazeburvill.com
www.gazeburvill.com
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ABODE2 PREFERRED SUPPLIER CameronABODE2_Advert_Jan_FNL.qxp_Layout 1 HOMES & GARDENS
22/01/2016 11:46 Page 1
YOUR SECRET LONDON
020 8969 3399
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ABODE2 PREFERRED SUPLIER HOMES & GARDENS
All the pleasure of outdoors, indoors. Glass Verandas offer a unique extension to your living space, the ultimate patio transformation. Where balmy summer evenings last even longer and your garden can be enjoyed throughout the year. Isn’t it time to bring your inside, outside?
GUARANTEE
Freephone
08000 11 22 00
Crocodile Glass Verandas. Bespoke designs offering perfect outdoor rooms to be enjoyed in any season.
HOMES & GARDENS ONCE VISITED, FOREVER ADDICTED
WWW.DECORATIVECOLLECTIVE.COM
The Decorative Collective is the Decorators secret sourcebook. It is an online marketplace showcasing stylish and decorative antiques and 20th Century items from a select group of UK and European Dealers selling everything you could possibly want for your luxury homes and gardens.
+44 (0) 1798 815572 info@decorativecollective.com
+44 (0) 778 233 9699 www.decorativecollective.com
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ABODE2 PREFERRED SUPPLIER HOMES & GARDENS
There is nothing so beautiful as something well made
www.marshallandstewart.com
020 7723 2925 Marshall & Stewart beds are available from: Simon Horn, 638-640 Kings Road, London SW6 2DU Westend Bed Company, 215 Upper Richmond Road West, Sheen, London SW14 8QT (Opening March 2016).
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ABODE2 PREFERRED SUPLIER HOMES & GARDENS
The Award-Winning Kadai Firebowl is a beautiful and versatile bbq/ firebowl currently becoming an iconic part of gardens Worldwide. Hand-crafted in India, the Kadai firebowl provides the perfect charcoal BBQ (with our full range of cooking accessories), then once you have finished cooking, simply lift off the grills, stock with wood and enjoy your beautifully warm firebowl long into the evening. Kadai Firebowls by Wilstone – Designed in England, Handmade in India See us at: The Ideal Home Show, March 2016 (stand G632) Chelsea Flower Show 2016 (stand RHW355) and Hampton Court Flower Show 2016 (stand HC428).
01694 771800
info@kadai.co.uk
www.kadai.com
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ABODE2 PREFERRED SUPPLIER HOMES & GARDENS
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ABODE2 PREFERRED SUPLIER LUXURY TRAVEL
DIVORCED, BEHEADED, DIED. DIVORCED, BEHEADED… RELAXED. LIVE LIKE A QUEEN, WITHOUT PAYING THE PRICE.
LOOKING FOR THE ULTIMATE IN LUXURY ACCOMMODATION?
www.oliverstravels.com FIND OUT MORE AT
CALL US ON
0800 133 7999
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AND FINALLY
My Secret Globetrotting Address Book Design dynamo Kelly Hoppen reveals her favourite getaway haunts Best long-haul destination for R & R? I love Mauritius and go there as much as I can. The islands and landscapes are spectacular. My favourite spot there is the LUX* Belle Mare resort which I designed. There really is a sense of being in one’s own private world surrounded by the bluest of skies and the whitest of sands. I also adore Mykonos. Best piece of travel advice? I am a bit of a geek when it comes to gadgets. I always make sure to load up my iPod before I go travelling as nothing beats a good playlist! Anything by Ben Bridgewater is amazing. I would also never go travelling without moisturiser and a mini beauty kit, they are must-haves! Best global getaway for cutting-edge design? This is a tough one but I would have to say Asia. The architecture there is spectacular and very innovative.
Hong Kong and Shanghai always take my breath away as do the amazing buildings that shape the Mumbai skyline. In particular, the Taj Mahal Palace Hotel, it is truly iconic and filled with lots of history. Sun or ski? Definitely sun but I do love the snow at the right time. Fondest holiday memory? I always loved going to Capri as a child. I used to stay at the Scalinatella Hotel, it has the best food and the most amazing service. I also attach very fond memories to going back to my grandma’s home in South Africa. I left there when I was a small child but we would always go back there for the holidays. It was magnificent, rather grand but very homely and nurturing. It is a feeling that I try to instil in all my designs. www.kellyhoppeninteriors.com www.kellyhoppen.com
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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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LUXURY LIVING AT BATH RIVERSIDE
Located a short distance from the city, and with Bath Spa train station nearby, the development offers easy access to major cities including London, making Bath Riverside the ideal retreat. • Superior specification throughout, with exceptional attention to detail • All properties come with two dedicated parking spaces • 1hr 25 minutes to London Paddington from Bath Spa*
• Surrounded by beautifully landscaped communal gardens, riverside walks and open green spaces • Generous balconies and terraces offer views over river, city and surrounding hills
2, 3 & 4 bedroom waterside homes priced from £495,000 3 & 4 bedroom townhouses priced from £595,000 Imagery includes optional upgrades at additional cost
Show Home & Marketing Suite open daily from 10am-5pm 75-76 Palladian, Victoria Bridge Road, Bath BA2 3FL | For your Satnav use BA2 3ET
BATHRIVERSIDE.CO.UK Show Home photography taken from a phase at Bath Riverside. Pricing correct at time of going to press.
01225 463 517