FOUR GLOBAL HOTSPOTS FOR LUXURY MARINA LIVING

04.05.18

A premium waterfront address can mean a rarity-value berth included in the purchase price these days. So - where’s the smart money docking? Tania Jacobs reports

As the super-yacht industry in 2017 boasted the busiest year for international brokerage sales since the 2008 financial crisis and marinas begin to rival golf resorts, serious investors are charting a course for a slice of the best waterfront action.

The number of individuals with assets of more than £20m has grown by almost 50% in the last three years and a good many of those are not just investing in a super-yacht, they’re also buying a waterfront pad with a dock to showcase their floating assets.

According to Sandra Kettler of international agents Coldwell Banker however, it’s not all about millionaires on their gin palaces, there are plenty of people tying up their pleasure boats and enjoying the scenery: specifically, marinas have proven a sustained attraction, while a shortage of berths for larger yachts has driven demand.

Developers with the foresight and opportunity to link this rarer asset to their residential homes have maintained sales. Delivering a marina residence that draws in boaters and buyers, as well as visitors does however require a ‘long-game’ approach as Mark Summers of marina development group RCI Marine explains: “Visitor footfall – both domestic and seasonal, those who are drawn to the marina with a spend and enjoy the amenities mind-set is a critical element in a project’s success.

So too is ‘buy-in’ from community homeowners – in terms of time on resort spent during the year. Nurturing a multi-faceted audience is a balancing act but it can make all the difference between a marina success story and a forever playing ‘catch-up’ pipe dream.”

So which locations are wooing the seafaring crowd?

MAURITIUS

The first residential marina to be built on the island. In 2018, La Balise still remains the only one. Operational since December 2012, when the first phase was completed, this landmark development consists of 143 villas and duplexes and apartments, with both private and shared moorings.

Situated on the sunny west coast, the marina stands in the trendy town of Black River, renowned for its unspoiled natural beauty, turquoise lagoons and a wide range of nautical activities. Extending over 12.8 hectares fringed by the sea, it combines the charm of a typical village with modern facilities: there are restaurants, bars, a spa, and shopping centres, nestled between the ocean and marina, surrounded by lush tropical flowers and palm trees.

Essential services, such as a chandlery, dry dock, shops, medical centres and international schools, are also on hand. Exquisitely designed, the luxury residences have a modern open-plan style that blurs the boundary between indoor and outdoor life. Inside, you can relax in designer interiors and luxury furnishings.

Outside of the home, two golf resorts are nearby, for those who prefer the laid-back environment of a fairway to windsurfing or kite-surfing. Now in its final phase, high-end 2 and 3-bedroom apartments have been newly released, with property prices starting from €616,000. Foreign direct investment in Mauritius rose 40% per cent in 2017, according to official figures, fuelled partly by investment in real estate.

CYPRUS

The €350 million Limassol Marina masterplan community has seen buyers from Europe, Russia and the Middle East snapping up waterfront boltholes with nearly 75% of the development now complete; the first yachts using the marina, changing the face of Limassol town as part of a major regeneration plan.

Comprising 162 luxury apartments, 74 villas and 650 berths, including facilities for super yachts up to 115 meters, the project is also the first fully serviced marina on the island able to accommodate such large yachts and it also has its own shopping and dining areas.

All 650 marina berths available have access to fresh water, electricity, fibre optic network providing high speed broadband and high speed wireless internet. There are also haul out and shore side technical facilities, a boat yard for light repairs and 24-hour security and concierge services.

Says local agent Thomas Penton: “The project has set the bar for marina living in the Eastern Mediterranean and been a major boost to the island’s economy enticing HNW buyers and providing a new focus for tourism and inward investment.”

Spacious three-bedroom frontline villas are selling for €2.5m. On the east of the island meanwhile - located between the beaches of Ayia Thekla and Makronissos, Ayia Napa Marina is the realisation of the vision of the project’s partners Cypriot entrepreneur Gerasimos Caramondanis and Egyptian investor Naguib Sawiris and will offer 190 spacious luxury apartments in two impressive towers, 29 luxury villas, a marina with significant mooring capacity and world class facilities for yachts up to 60m in length, and will feature 380 fully-equipped wet slips enhanced with state-of-the-art berthing facilities, as well as another 220 spaces in a dry stack storage area for boats up to 10 metres in length.

Property prices start from €1,125m.

OMAN

An integral part of prestigious luxury residential community The Wave in the upscale capital of Oman - Muscat, 400-berth Almouj Marina is already making HNW headlines as the premier marina facility and flagship yachting and sailing destination in the Sultanate.

The €1.84bn mixed-use project developed in partnership between the Omani Government and Dubai-based Majid Al Futtaim, is the first integrated tourism project for the country. Stretching along six kilometres of pristine coastline, once complete, the community will include four luxury hotels, a plethora of leisure facilities, together with 4,000 residential properties ranging from stand-alone villas to courtyard homes.

Properties are available freehold to non-Omani nationals, with the right to apply for residency included. With a high percentage of foreign buyers already in the mix - Reehan Residences comprises 99 prime site villas located at the western boundary of The Wave golf course and within walking distance of the marina and community beach.

Properties are available in different configurations and sizes to suit individual home buyer requirements, with spacious garden lots for outdoor entertaining space and private pools. Residents will have easy access to a wealth of leisure and entertainment facilities including the PGA standard 18-hole Greg Norman golf course at Almouj Golf and the upcoming opening of the active social and retail hub offering designer shopping and fine dining. Spacious five-bedroom villas are selling for £1.2m.

BARBADOS

An island that has successfully embraced the holistic temptations of terra firma has now set its sights on carving out a niche among the buy-to-sail fraternity with Port Ferdinand.

Located on the island’s scenic northwest coast, the project 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 $US2.15m 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. 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 signature offering includes a range of bespoke treatments and retreat packages, using the renowned Bamford Body Line botanical range.

Says local property agent Lewis James: “There’s great energy to diversify foreign investment on the island, while at the same time protecting the environment, and there’s no doubt that sailing is proving a major draw with investors, not least because so many of the other islands have simply reached their peak and got too crowded.”

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