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Royal Westmoreland, Barbados Launches a Fractional Ownership Option

January 2015

Royal Westmoreland Villa

Royal Westmoreland, a gated community and golf estate on the west coast of Barbados has launched a fractional ownership option in response to feedback from regular rental guests. The programme gives ownership of a four bedroom villa and access to an exclusive lifestyle for just US$50,800/£33,400 for two weeks ownership out of season, and from US$129,700/£85,300 for four weeks in season.

The scheme was introduced for their many repeat visitors, who love the Royal Westmoreland lifestyle, but who simply don’t have the holiday time to commit to full ownership. This stepping stone into ownership allows for the trading in at the current selling price of the fraction towards any full ownership property the developer is selling at any time.

Royal Westmoreland is building five four-bedroom villas, the Royal Palm Villas, with the first villa due for completion in September 2015. The elegant homes come replete with a large private swimming pool, lush 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.

The fractional ownership program allows for purchasers to own just the time they intend to stay at the resort. The property is held freehold/deeded in a third party trust in the Isle of Man, governed under UK commonwealth property law, and ownership shares in the villas are fully transferable, sellable and willable.

Kim Goddard, head of sales at Royal Westmoreland comments: "We often find that potential purchasers might have the means to buy full ownership but are constrained by the amount of holiday time they have to utilise their home at this point in time. So for them this is a savvy way of buying a home that is aligned to their expected usage, controlling their expectations when arriving for their annual holiday whilst allowing them to benefit from capital uplift in the property value when looking at justifying a full ownership purchase.”

Owners who are unable to visit the resort during the time period purchased are able to exchange their weeks through an internal exchange program to allow the storing and movement of time that provides the benefit of year-round access to multiple size residences on resort.

Owners can also exchange weeks at other exceptional resorts around the world through an affiliation established with Preferred Residences as well as a two year membership with Preferred Golf Club, providing access to some of the most prestigious and challenging golf courses in the world such as the K Club in Ireland and the Cambridge Beach Resort & Spa in Bermuda.

The prices vary according to the popularity of the season with 2 weeks starting from US$50,800/£33,400 to US$307,400/£202,000 and 4 week time periods from US$129,700/£85,300 to US$431,500/£284,000.

Royal Westmoreland is a 750 acre exclusive golf, beach and spa estate and offers a range of private villas, townhouses and apartments which are available for both home ownership and holiday rentals.

Five-star amenities include the championship golf course, beach club, world class gym and pools, restaurants, tennis courts and Elemis spa.

Developed in 1994, the estate was purchased in 2004 by UK-based Pure Leisure Group who has further developed it into a thriving community and leisure resort that has won multiple awards.

For further information, visit www.royalwestmoreland.com/ownership/fractional-ownership

For more information phone Tel: 01524 889341, Email property@royal-westmoreland.com Or visit www.royalwestmoreland.com

Media Contact: Vicky Goodall, P1 Communications; Email vicky.goodall@p1communications.com Tel: 020 8614 7503, or Andre Kappelhoff; Email: andre.kapelhoff@p1communications.com, Tel: 020 8614 7500

 

 

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