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Sun Gardens starts 2012 with Strong Sales

Dubrovnik, Croatia – Dubrovnik Sun Gardens recently announced it started off the new year with six confirmed sales since it launched its first phase of 25 residences here in Croatia’s Dalmation Coast. According to the development, three more residences are in the process of completion and will also be made available as part of the newly announced partnership with The Registry Collection.

As property market projections for the year ahead remain hopeful across Croatia thanks to its imminent European accession in 2013, demand is already growing and it is expected that EU entry will generate greater returns from property investments. Dubrovnik also claims proven net rental yields of 4 percent after Homeowners Association costs and taxes.

“’This is one of the few lifestyle freehold real estate resort investments available today in Europe offering a balance of personal usage and competitive net yields for owners through a sophisticated rental program now in its third year of operation,” said Commercial Director, Julian Houchin of resort owners iO Adria, explaining why this is a good time to invest in Dubrovnik Sun Gardens.

Dubrovnik is “one of the most beautiful and fastest growing tourism and second home real estate destinations in Europe,” Houchin added, ‘where early buyers can also benefit from entry level pricing and mortgage financing at Dubrovnik Sun Gardens.

Dubrovnik Sun Gardens is a unique 5-star beachfront resort on a freehold basis. In a country where leasehold ownership is the most common form of property ownership and where strict planning laws prevent real estate developments close to the water’s edge, this ocean-fronting resort is the only one of its kind in the region.

In addition, the availability of 60 percent loan-to-value mortgages with Erste Bank on a 15-year term at fixed 6.6 percent interest, coupled with peak season occupancy rates of 95 percent and rental returns of 4 percent makes Dubrovnik highly attractive,  according to Dubrovnik representatives.

“Dubrovnik Sun Gardens is a truly majestic property enjoying a prime location on a sought-after waterfront site close to one of Europe’s most spectacular and rare medieval walled cities, which has proven to be enduringly popular,” said Matt Holmes, Business Development Manager for The Registry Collection in Europe, explaining why the company was eager to incorporate Dubrovnik Sun Gardens into its portfolio.

A one-bedroom residence at Dubrovnik Sun Gardens starts at 170,000 Euros for a ground floor property with garden view, and go up to 336,000 Euros for sea view. Two-bedroom residences range from 308,000 Euros ($395,000) and 608,000 Euros ($780,125).

Dubrovnik Sun Gardens is just outside the UNESCO city of Old Town Dubrovnik. The resort is one of the very few in Croatia which offers both hotel facilities as well as an opportunity for residence ownership. Boasting one of the most comprehensive spas in the Adriatic managed by OCCO, the resort also has its own private beach, collection of thirteen bars and restaurants, extensive MICE facilities, three pools and a sports centre.

The Registry Collection is the world’s largest luxury exchange program comprising over 33,000 members and more than 160 affiliates on six continents. More than 180 properties are available through The Registry Collection program and are either accessible for exchange or under development

Kukui’ula Debuts New Cottages

Aerial Shot of Kauai's New Kukui'ula

Koloa, Kauai, Hawaii  – Construction is underway on a new collection of plantation-style cottages that will be part of the lodge hospitality program at Kukui‘ula.  This collection of 15 single-family cottages will be clustered immediately adjacent to Kukui‘ula’s new $100 million private club and spa that serves as the social and recreational centerpiece of the community.  Located on the south shore of Kaua‘i, Kukui‘ula is the first major new luxury community in Hawai‘i in over a decade.

 According to Brent Herrington, president of Kukui‘ula Development Company (HAWAII), LLC, “The Kukui‘ula Club Cottages have been specifically designed for families who tend to visit Kaua‘i for a week or two at a time.  Their location adjacent to the club will allow owners to walk next door to dine, work out, enjoy a spa treatment, play golf or lounge by the pool.  Buyers of the Club Cottages will also have the option to enter into a rental management program that enables those who rent the cottages to access the private club and golf facilities of Kukui‘ula.”

 Added Herrington: “These beautifully furnished cottages will be the ideal choice for rental guests seeking a luxurious residential environment with the amenities and services of a world-class private club.  The cottages will also be a great resource for Kukui‘ula property owners whose new homes are under construction or who need additional space to accommodate family and friends.”

 The 1,000-acre Kukui‘ula community is being developed by an affiliate of A&B Properties, Inc., a subsidiary of Alexander & Baldwin, Inc. of Honolulu, and DMB Associates, Inc. of Scottsdale, Arizona.

 Kukui‘ula’s Club Cottages start at $2.35 million for a fully furnished residence.  These approximately 2,200 square foot residences reflect the charm and character of Kaua‘i’s gracious plantation-style architecture, are luxuriously appointed and especially designed for indoor/outdoor living.  A covered entry with dark wood decking opens into a gracious great room complete with living room, dining area and gourmet kitchen.  Expansive glass doors disappear into the walls blending the indoor living space with a large covered rear lanai, which functions as an outdoor living and dining room. 

 Dual master bedroom suites offer thoughtfully designed closets with built-in shelving, drawers and electronic safes.  Each master bath includes two sinks, a pedestal tub, and an interior shower that opens to a private outdoor garden shower.  Finishes include dark ipe wood flooring throughout, black granite kitchen countertops and honed Carrera marble in the baths.  The kitchen features a top of the line stainless steel gas range, refrigerator and dishwasher.  To provide storage for owners’ belongings when they are not in residence, a generous lockable storage space has been designed into each home, but is tucked discretely out of view.  All indoor spaces are air-conditioned.

 Each cottage is offered with a comprehensive, professionally designed interior furniture and fixtures package that is ready to move in and enjoy, including luxurious furnishings, linens, artwork, accessories and electronics.

 The cottage lots are approximately 12,000-square-feet each and include lush Hawaiian landscaping, lava rock walls, stone fire pits, and personalized front yard options that range from a large private yard with open space for entertaining; a separate guest cottage with master suite, luxurious bath and wet bar; or a one-car garage with storage and an attached carport.

 The Club Cottages are being developed by locally-owned Seina Properties LLC, the sister company of Unlimited Hawaii, the project’s general contractor.  A leader in sustainable building, Unlimited has received numerous government and industry accolades for its stewardship efforts.  The Kukui‘ula Club Cottages are being built to meet Leadership in Energy and Environmental Design (LEED) specifications.  The first four residences are anticipated to be completed by the end of the year.

 Owners of the Club Cottages at Kukui‘ula will enjoy full use of the amenities and services of The Club at Kukui‘ula, including the main clubhouse, known as The Plantation House, the Plantation Spa (opening in April), the Golf Clubhouse, and a Tom Weiskopf-designed 18-hole championship golf course.

Kukui’ula Golf Club Opens on Kauai

An iconic new destination community has opened on the southern coastline of the island of Kaua‘i. Kukui‘ula is the first major new luxury community in Hawai‘i in over a decade, joining the storied ranks of Wailea and Kapalua on Maui, and Mauna Lani and Hualalai on the Big Island. The 1,000 acre community is being developed by an affiliate of A&B Properties, Inc. of Honolulu and DMB Associates, Inc. of Scottsdale, Arizona. The Club at Kukui‘ula opened to members in late December. A private $100 million clubhouse serves as the social and recreational centerpiece of the community and includes the main clubhouse, known as The Plantation House, a spa, the Kukui‘ula Golf Club, a Tom Weiskopf-designed 18-hole championship golf course and an elaborate array of swimming pools. The club also includes a community farm and 20-acre fishing lake. Kukui‘ula also debuted its Mauka and Makai neighborhoods, with the first model home, a three-bedroom plantation-style Makai Cottage, available for viewing.

“We are thrilled to celebrate the opening of Kukui‘ula,” said Brent Herrington, president, Kukui‘ula Development Company (HAWAII), LLC. “It is rare to find a new community of this quality anywhere in the world, but Kukui‘ula is even more unique because of its magnificent setting. It’s been exciting to welcome property owners to their new community on Kaua‘i.” Kukui‘ula has sold 81 homesites to date, mostly through a pre-development sales opportunity offered prior to major construction. With first phase construction complete and recreational amenities open, the developer is now resuming active sales efforts. Says Herrington, “It has been a pleasure sharing Kukui‘ula with people visiting for the first time. Their enthusiasm about the community and Kaua`i have been exactly what we hoped for.”

The 20,000 square foot Plantation House, overlooking Kukui‘ula Bay, is a showcase of classic Hawai‘i style. A Great Room, with coffered ceilings and wood beams and an eclectic mix of furnishings collected from around the world, opens to a wrap around lanai with numerous seating areas offering all-day views of the Pacific, Spouting Horn, ocean sunsets and the finishing shots of golfers on the 9th and 18th holes. Dining rooms emphasize fresh, flavorful cuisine, locally grown fruits and vegetables, and seafood and meats from Hawai‘i’s best purveyors, all delivered in casual and comfortable settings. The Plantation House also has a scenic dining hale, event pavilion, family-style dining room, ‘Island Pursuits’ outfitters shop, and a game room with billiards, vintage arcade games, darts and flat screen televisions for adults and keiki (kids) to enjoy. A “great lawn” leads to the community’s Makai beach pools and Beach Grill and Bar. A spacious 20,000 square foot garden spa, located adjacent to the Plantation House, will open in March 2011. The Plantation House Spa will offer a choice of indoor and outdoor treatment rooms with therapies and services drawn from local botanical products and timeless Hawaiian healing traditions. Additional features include a dramatic lap pool and cascading waterfall, men’s and women’s locker rooms, outdoor showers, steam and sauna facilities and private relaxation areas. Members can now enjoy the spa retail shop, a movement studio for yoga, pilates and dance classes, an extensive selection of fitness equipment and private outdoor exercise lawn.

 “Tom Weiskopf has designed the Kukui‘ula golf course to complement the island’s rolling terrain, dramatic view planes and thrilling trade winds,” says Brian Paul, Kukui‘ula’s head golf professional. “In doing so, players will face a different set of challenges and opportunities each time they play. As with all the world’s best golf courses, shooting a low score at Kukui‘ula requires you to think your way around the course.”

The private 18-hole Kukui‘ula course was designed to appeal to players of all ages and skill levels. Designed by British Open winner Tom Weiskopf, creator of over 50 acclaimed courses worldwide, the 216-acre par-72 course features paspalum-turf, sand-plated fairways and a landscape filled with native flora. Most holes have panoramic ocean views. The Golf Clubhouse features a well-appointed golf shop, men’s and women’s locker rooms, expansive lanai seating and indoor lounging areas. The Kukui‘ula course will accommodate limited member play until its official opening in Summer 2011. Kukui‘ula’s 3,670 square foot single-story Makai cottage showcases authentic local style with double-pitch roofs, generous lanais, board and batten siding and raised post and beam construction. The fully-furnished three-bedroom, three and one half bathroom floor plan also features a great room, salt water pool and spa, outdoor garden showers and a freestanding guest cottage. The collection of Makai Cottages range in size from approximately 1,500 to 3,800 square feet and are located on a mix of quarter-acre to one-third acre homesites bordering the fairways and greens on the first four holes of the golf course. The plantation-style Makai Cottages are priced between $2.2 million and $3.6 million; custom homesites begin at $1 million.

Kingsbarns Celebrates Bumper Tourist Season

St. Andrews, Scotland – There is nothing like playing a great round of links golf, where the sea and land meet. One of the finest in the world is Kingsbarns Golf Links in the home of golf, St. Andrews, Scottland. Kingsbarn recently celebrated its tenth anniversary season in style with a 30 percent surge in rounds of golf by visitors.

More than 27,000 rounds were played this season over the famous links capping an excellent season. Such was the increase in demand that the season was extended by two weeks in November to accommodate additional play. Although this recent photo of Kingsbarns shows there won’t be any golf played today!

Kingsbarns also recently cemented its position as one of the United Kingdom’s finest courses when it was ranked No. 11 in the prestigious Golf Monthly Top 100 courses.

“We are absolutely delighted with the way the season has gone especially as we celebrated such a major milestone,” said Stuart McEwen, general manager at Kingsbarns. “We have now passed the 280,000 round mark since the course opened in July 2000 and that is testimony to the excellence of the course design and the hard work of the greenkeepers and other staff here who help to ensure the course and facilities are in top class condition every day of the season. The signs are already looking good for 2011 with bookings up by 10 percent on this period last year and we look forward to another ten years of success.”

The staging of the Open Championship in nearby St Andrews placed Kingsbarns in the spotlight and led to some of the greatest golfers ever to have played the game making the short trip down the coast. Tom Watson, Gary Player and Lee Trevino took to the fairways and were warm in their praise for Kingsbarns.

While the course condition attracted widespread praise throughout the season, Kingsbarns also excelled off the course with caddie manager Davy Gilchrist being named the Caddiemaster of the Year in the Golf Tourism Scotland Annual Awards for the second year in succession.

“We work very hard to ensure that golfers enjoy an outstanding experience when they play golf at Kingsbarns and leave with wonderful stories to tell,” said Davy. “Caddies have a huge role to play in that regard with 60 percent of all visitors taking a caddie for their rounds. I am fortunate to have such a great team here and they are fully committed to providing the highest standards of service.”

Kingsbarns reopens for the 2011 season on April 1. The green fee for next season is $293 with a 50 percent discount for golfers playing a second round within seven days.

Located just seven miles southeast from St. Andrews, Kingsbarns is a must-play seaside links course which regularly features in top 100 golf courses rankings in the world. Designed by Kyle Phillips, the golf course is set on land which gently slopes down towards the coastline, so nearly every hole boasts spectacular views of the sea. At 7,181 yards from the championship tees, Kingsbarns is a formidable enough test to be included in the Alfred Dunhill Links Championship rota each autumn alongside the Old Course at St. Andrews and Carnoustie Golf Links. Kingsbarns prides itself in excellent customer service and great accessibility for tee times. Visitors are treated as members for the day and enjoy assistance from the moment they step off their car until they leave.

Kudos to a great year, Kingsbarns.

Hualalai Realty Records Banner Year

Ke’olu, the Tom Weiskopf-designed members-only golf course at luxurious Four Seasons Resort Hualalai, is named for the “gentle breeze” that brings a sense of calm and coolness to the Hualalai Club’s “mauka” or mountaintop setting. The name is befitting because Hualalai’s exclusive residential community has been more than a breath of fresh air for Hawaii’s high-end residential real estate market.

At a time when many upscale private and resort-style communities are struggling against recessionary headwinds, Hualalai Realty is having another banner year for the prestigious community located on the Big Island of Hawaii 10 minutes from the Kona International Airport.

Situated along the renowned Kona-Kohala Coast where exquisite resort communities and multi-million dollar home sites dot a 40-mile stretch of pristine oceanfront real estate, 865-acre Hualalai is home to just 500 families and the perennially ranked AAA/Five Diamond Four Seasons Resort. The resort’s private residential enclaves, home to billionaires and celebrities alike, make Hualalai one of the world’s most distinguished addresses.

One of Hualalai’s celebrity residents, entertainer Cher, kicked off 2010 with a bang when Concierge Auctions sold her five-bedroom, 8,630-square-foot oceanfront home in January for $8.72 million to a buyer from Arizona. Nine months later, Hualalai Realty was reporting $98 million in closed transactions for the year, a pace to surpass the previous year’s $150 million in sales revenue.

Last August, Hualalai Realty’s director of residential sales Rob Kildow did nine sales, the community’s largest single month for transactions in its 14-year history. It’s just another small sign that the luxury real estate market is slowly regaining its health.

“It’s still no picnic,” adds Kildow, one of the 300 resident members at Hualalai Club that costs $225,000 to join. “We’re ahead of last year’s numbers but not by tons. Tour traffic is up by 35 percent though and prices have started to climb some.”

Kildow says the lower-end luxury condominium homes priced from $2-$3 million are slow in moving, with the bulk of Hualalai’s sales falling in the $5 million-plus range.

What that tells Kildow is the “high-end is still fine in Hawaii.”  It helps to be associated with one of the leading upscale resorts, where villa homes can rent for $3,500 to $4,500 per night.

Interestingly, nine of Hualalai’s 21 closings through mid-October involved existing members that “valued up,” according to Kildow. Kildow says resident members appreciated how Hualalai’s overall ownership group, led by Michael Dell, handled the post-financial crisis meltdown. For example, Hualalai forged ahead with its $40 million resort enhancement project last August, adding several new resort and club amenities and held firm on home site valuations while comparable communities were slashing prices.

“Instinctively, (Hualalai members) know now’s the time to get great values,” says Kildow, partly explaining the late 2010 sales activity. “We haven’t pulled back 40 percent like others. Plus we’ve got an obvious 15-year track record and we’re so diverse. We’re not staking the value or experience of Hualalai on one or two things.

“At Hualalai it’s more than about sticks and bricks. It’s the people that make this resort community so special. I have billionaires tell me there’s no other place as comfortable as Hualalai. They tell me half don’t know who I am and the other half don’t care. They can walk out to the club in their sandals and enjoy whatever it is they want.”

For many, it starts with that gentle breeze called Ke’olu.

For more information, contact Rob Kildow at Hualalai Realty; Toll-Free 1-800 983-3880; www.hualalairealty.com

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