John Morphet, the UK multi-millionaire and owner of Barbados’ Royal Westmoreland resort, has put the entire gated development up for sale. It spans some 750 acres and has more than 225 private villas. It also has an award winning championship golf course, tennis courts, spa and gym. Plans are in place for further development, including the creation of another golf course.
The Telegraph, a British newspaper, reports: “At the Royal Westmoreland, mid-range villas sell for £5m and rents in high season are astronomical. Rio Ferdinand’s modest but nice three-bedroom Royal Villa costs £10,000 a week to rent.”
Apparently the property is generating much interest from international resorts and real estate tycoons in the US, UK and Japan. Robin Paterson, chairman of Sotheby's International Realty UK, which is selling the estate, said: “It is extremely unusual for an entire resort – particularly one this exclusive – to go up for sale in the Barbadian market. 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.”