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OVERSEAS INVESTMENT
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February15
A P iece of Paradise
Singaporean real estate developer
Castlewood Group
is set to open its
flagship hotel and spa in Phuket this summer. We find out what you’ll get
for your money if you invest in the property.
L
ocated close to the popular Laguna Resort area on Bang Tao
Beach, and only 20 minutes from the island’s international
airport, Castlewood’s 174-room flagship hotel and spa is set
for completion by mid-2015. Slated as the hottest property to
hit Phuket’s hotel market in 2015, you can own part of this hotel with as
little as S$35,000.
There are three types of accommodation at the hotel: luxury suites, sky
villas with private pools and exclusive garden villas with private pools.
“Investors don’t choose which type of room their investment is going
towards,” explains Chris Comer, Castlewood Group’s CEO. “However, the
investment will cover all three types of accommodation. You’re investing
into hotel room nights, rather than an individual room.”
Facilities include a rooftop infinity pool with lounge and bar area, an
expansive main lagoon pool with swim-up bar, a spa centre, a library,
wine and cigar rooms, and state-of-the-art technology in every room.
A number of the hotel villas have already been completed, and these
can be shown to all potential investors. A building site tour can also be
arranged, as well as a visit to the accompanying beach club, but it’s worth
noting that the beach club is not included in the investment.
The hotel has already proven popular within the design industry,
winning (and retaining for the following two years) a highly commended
honours award for new hotel design and construction in Thailand at the
International Hotel Awards Asia Pacific 2012-2013.
According to Chris, there are plenty of reasons why investing in Phuket
property is a sound idea. “It’s one of the top tourist destinations within
Southeast Asia. Over the past ten years, the island has seen substantial
growth in tourism. For this reason, the government has pledged to spend
over $1 billion on the island’s infrastructural development to support
the increasing number of tourists. Construction is currently underway
at the international airport to service the increasing number of visitors,
which is anticipated to continue to grow as airlines add direct flights
from Europe and beyond.”
The small print
Investment starts from $35,000.
Investors can opt for fixed returns or variable
returns, paid annually.
Short-term exit is available, meaning you
can opt to invest only until 2016. In 2016,
Castlewood Group will either purchase the
room nights from the investor, or facilitate
the sale of them to a third party on the initial
investor’s behalf.
Full-term exit means the investor opts to keep
the investment until 2020. Castlewood Group
has struck a deal with CBRE Thailand to sell
the hotel in 2020. Once the hotel has been
sold, the proceeds (after agency commission
and legal fees have been paid) will be
distributed on a pro-rata basis to all investors.
To find out more about Castlewood’s
flagship hotel and spa, call 8501 9812 or visit
mycastlewoodgroup.com.sg.
By Amy Brook-Partridge