Real Estate comes in many different forms, and for most of us, we relate these two words to mansions, villas, apartments, townhouse etc. Often the most exclusive type of real estate that gets overlooked is a private island.
Owning an island is something done by a select few, individuals who need their space and want to truly escape the city life. Owning a private island is very easy, it is no different to buying a mansion. Now, I am not saying it is the same; there are a few points you need to bear in mind.
The first is that you need to be prepared to pay upfront. Getting funds from a bank is near on impossible. Banks want to know the best market price, and with each island being unique, they cannot do this. I have always advised members or individuals to pay cash or purchase in a group.
I have also been asked, ‘if there is an existing property on the island will that affect the final price?’. In short NO. Each owner has their own needs and whatever the island has currently may not be what you to want.
With a private island, you have a delicate ecosystem that surrounds the island, and as the owner, it is your responsibility to look after it.
Another frequent statement that I hear is that ‘I don’t need a private island because I will rarely use it’. Let’s be honest do you use your superyacht every week or do you visit every property you own every week? I know you don’t, which is why a majority of our members rent out any asset they don’t use all the time. The same applies to a private island. When you are not on the island, rent it out. Every island no matter where it is is accessible, so hiring staff to maintain it, and hiring an agent to take care of the logistics. Yes, this is another cost, but the revenue will outweigh it.
If you want to allocate cash to an asset that will maintain or even grow in value, then buying a private island is the only way.
Lataro Island – 800 Acres | $12 million
Vanuatu, South Pacific
If you are looking for an island where you can just merely – Move In, then this may be the one. Located off the coast of Espiritu Santo in Vanuatu’s northern islands, it is an island that has old growth rainforests and exotic flora. Ninety percent of this island is untouched, making it truly special.
This is an island for scuba divers who love to explore the corals want to ‘swim with the fish’. The island has over 6km of Corel reed surrounding the island and is a marine conservation area and is teeming with stunning fish and vibrant coral life. Very few people say a handful have ever dived this area, so there is plenty for you to explore.
You have two main ways to get to the island; the first is by air. This island has a private airstrip! This means you can come and go as and when you want. The second is by yacht, with multiple safe places to moor a 60ft yacht. The ocean surrounding the island is considered as the ultimate playground for game fishing, diving, yachting, and everything aquatic.
Over the last three years, a luxurious accommodation was built on the island which comprises the owners’ residence made up of four separate buildings connected with undercover walkways – these include a kitchen, bar, dining and entertainment area around the swimming pool and media room/office/study and ‘playroom’. There is a sizeable two-bedroom guesthouse, a self-contained manager/caretakers house, separate staff accommodation for up to eighteen and a considerable maintenance shed. The buildings are Balinese style with plenty of exposed timber and dark tinted glass.
Ninety-nine percent of the electricity is produced by solar, making this island very eco-friendly. Over ninety percent of the island is a conservation reserve and the last refuge for the endangered Coconut Crab, the worlds largest terrestrial crab and there is plenty of birdlife which includes owls, eagles and parrots.
Deep Water Cay – 91 Acres | $25 million
Deep Water Cay is a world-renowned bonefishing resort. This unique island has its own four thousand-two-hundred-foot airstrip, three beaches which are surrounded by some of the best fishing and diving sites in the world.
If you are arriving by sea, then there are three separate docks with a fully serviced dock providing on shore power and has ten slips. There are fifty-five subdivided single-family residential lots at an average size of half an acre and access to one hundred and forty-six linear feet of beachfront. Eleven of these lots are already privately owned with three homes built.
The Clubhouse is a two-story building with a family style dining room, cathedral ceilings and covered verandas with ocean views on both sides. This building also has a commercial kitchen, bathrooms, separate bar, fitness centre, massage room and an oceanfront pool and pool deck.
Adjacent to the marina is the Welcome Centre located on the northern side. It has retail space on the ground floor with an office and three staff apartments upstairs. A tiki bar overlooks the marina and one of the beaches.
Accommodations for guests include three cottages with seven rooms, located next to the clubhouse adjacent to the beach. Royal Poinciana and Gumbo Limbo are two oceanfront townhouses each with three bedrooms, wide verandas, full kitchen, living and dining area. Drake House is a single level beach house with two bedrooms, two baths, an open plan living, dining and kitchen area, with spacious verandas. Electricity and water come from an underwater cable from the mainland.
There is an operational desalination plant for R/o water, a waste treatment facility plus stand-by generators.
Foots Cay – 20 Acres | $16 million
The Abacos, Bahamas, Caribbean
Sometimes you just need to get away and spend time with family and friends, away from the noise of the city and seclude yourself.
Foots Cay is all about that! With over twenty acres of land and a stunning four suite, Main House finished with fantastic high ceilings, large doors and limestone floor enough to make you think you were in a five-star resort. One thing you notice about this island is the amount of space. You just have so much. In addition to the main house, you have a three-bedroom guest house that has a more traditional feel with cypress interiors and terra cotta tile floors. Tucked away at the western end of the island is another two-bedroom guest house, with a spacious living area and kitchen.
The island also has a cut-out harbour which can moor boats up to 45 ft and dedicated underground electric and phone service. Also, you have two large docks on either side of the island, automatic standby generator and reverse osmosis water system. This island is an extraordinary island.