One of the most exclusive holiday home developments on the Caribbean island of Barbados has been listed for sale with a price tag of £75 million.
United Kingdom Caravan Park Millionaire, John Morphet, is putting the world famous Royal Westmoreland development, Barbados – a holiday home for footballers and U.K. celebrities alike – up for sale.
Royal Westmoreland is a much-loved private, gated estate with impressive colonial-style homes and pretty cottages among its 225 properties — all set in lush vegetation. The estate is currently in the new season trailer for popular British television series Made In Chelsea.
It is also an award-winning golf resort, 10 minutes from the coast, and sporting celebrities such as Wayne Rooney and former England cricket captain Michael Vaughan have bought homes nearby.
This established St James playground has 750 landscaped acres, but there are plans for further expansion and another golf course. It is located in a prime position on the west coast of Barbados with stunning views of the Caribbean and access to its own private beach some 3 kilometres away.
Robin Paterson, Chief Executive of real estate firm Sotheby’s International Realty UK, said: “It is extremely unusual for an entire resort – particularly one this exclusive – to go up for sale in the Barbadian market. Royal Westmoreland’s scale, reputation and longevity in the southern Caribbean make it a real opportunity for the right investor.
“The market in Barbados is now seeing an influx of property investors from the international markets as well as wealthy individuals who have traditionally invested here, as they see the potential in the very best of the Caribbean, which is what the island represents, and this resort in particular.”
Royal Westmoreland is located on the Platinum coast, the most exclusive area of Barbados for both holidays and property sales, where beachfront houses have sold for around US$50 million
The existing site includes 225 holiday homes, golfing clubhouse, spa, restaurants and its own private beach. The site has planning permission for more homes, with 30 plots currently available, and also a hotel and another 18-hole golf course.
The land bank of vacant plots and undeveloped land parcels has the capacity to generate revenue from plot sales and construction of approx. US$750 million including 195 homes.
Short break holiday rentals are offered in twenty five villas and townhouses owned by sporting celebrities
It was purchased in 2004 by Cumbrian farmer-turned-caravan park owner John Morphet, 56, after he sold a large portion of his U.K. business to Legal & General for £100 million and went on holiday — to Barbados. He visited the Westmoreland, liked what he saw and two years later bought it.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
