UK caravan park millionaire, John Morphet, is aiming to sell the famous Royal Westmoreland development in Barbados for £75million, with keen interest expected from overseas investors.
The private, gated estate includes holiday homes owned by England footballer Wayne Rooney and former England cricket captain Michael Vaughan and is featured in the new season trailer for popular reality TV series, Made In Chelsea.
The award-winning golf resort, 10 minutes from the coast, which includes luxury colonial-style homes and cottages among its 225 properties, is listed with Sotheby’s International Realty (SIR).
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.
Robin Paterson, Chief Executive of SIR UK, says, “It is extremely unusual for an entire resort – particularly one this exclusive – 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 on the Platinum coast is the most exclusive area of Barbados for both holidays and property sales, where beach front houses are known to have been sold for around US$50million.
The land bank of vacant plots and undeveloped land parcels has the capacity to generate revenue from plot sales and construction of around US$750million including 195 homes, says Sotheby’s Realty.
It was bought in 2004 by Cumbrian farmer-turned-caravan park owner John Morphet, 56, after he sold a large portion of his UK business to Legal & General for £100million and went on holiday to Barbados. He visited the Westmoreland, liked what he saw and two years later bought it.
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