Award-winning boutique hotel and property group, The Pavilions Hotels & Resorts, is expanding its international portfolio in Asia and Europe, and the Group has recently launched a unique collection of luxury villas and penthouses for sale in the sought-after hilltops of Cherngtalay located next to their five-star Pavilions Phuket Resort. The area has become increasingly popular because of its proximity to the airport, only 30 minutes to Phuket Town, and minutes away from some of Phuket’s best beaches.
The new development of holiday villas and penthouses is located in a tropical sanctuary, built with high-quality and modern finishings. The spacious open-planned villas makes it a perfect family holiday home or a perfect for space for entertaining and hosting. The light-filled penthouses are designed with a modern twist on European interiors meets NYC loft with a clever use of space using an open-planned design. The penthouse floors are carpeted with trend-setting white herringbone tiles stretching from the indoors to the outdoor infinity pool. The manicured gardens of the estate gives a sense of raw tropical wildness but in keeping with its five-star environment.
Second Homes
Most of us dream of owning a property portfolio – maybe an apartment in NYC, a chateaux in France, a farmhouse in New Zealand, a tropical escape in Thailand or a house in the English countryside. Some dream of having a second home as an investment to diversify assets, others dream of escape.
The reality of a second home is, however, not always the dream that we envision. Countless friends have invested in dream second homes in the UK countryside, France, Italy, Spain, Bali or further afield. Sometimes, these investments are more hassle than they are worth; always never-ending issues with maintenance, security and staff. Houses always need more maintenance than we budget for, and finding the right staff to care for your home is always another challenge. Even AirBnB poses certain challenges too – it can be a luck of the draw. In the UK, the government is now threatening the £7,500 tax break if the owner of the AirBnB is not a resident of the property themselves. It is always the question of taxes that many naïve second home owners overlook. Owning a second home in France or UK, also comes with a hefty tax bill especially when it comes to capital gains tax whether you are a resident or not. Most of the gains in the capital value and or rental incomes end up going back into tax bills or property maintenance causing most investment homes to break even, if they are lucky. At best, second homes, are a luxury as they can be expensive assets if not managed properly. However, there are new options on the market available now being offered from residential groups like The Pavilions Phuket Residences.
The Pavilions Phuket Residences
There is now a growing trend in recent years for a different kind of ‘second home’ investment; where one can measure returns more accurately, and the investment comes with the option of hotel management to care for the property. The Pavilions Phuket Residences is part of a new model where it hopes to remove the typical headaches of owning a second home overseas. The Pavillions Phuket Resort was first established 12-years ago as a romantic honeymoon escape nestled at the top of Cherngtalay’s green canopy and conveniently located only 20-minutes from the airport.
The large evergreen estate was built in 3 phases over the last decade. The first phase still remains under the private ownership of the hotel and is composed 21-ocean facing suites that are 310sq metres each. Children under 16 are not allowed these suites giving the suites feeling a seclusion and romance. They are well-built properties with large plunge pools that spans the entire front of the villa from the living room to the master bedroom. In low season, the villas are affordable at USD400++ a night and in peak season and cost around USD800++ a night. In the first phase, 9 residential villas were also built but all been sold for private use.
Phase 2 saw the development of large hillside facing hotel villas which were sold and many, if not all, continue to be part of the hotel’s rental pool. This also included the development of two blocks of studio suites. Most investors to date have seen a comfortable return of 4 – 5%.
In its most recent phase, The Pavilions Phuket Residences, has seen the development of an additional six modern and open-planned villas and two 2-bedroom penthouse apartments being offered at around USD1,645 per square metre making it very affordable. There are various models on offer. Owners are able to purchase the home outright, and pay a minimal management fee of circa USD400 a month to be provided with basic property management and security. Alternatively, owners can purchase the property, and place it into the hotel’s rental pool. The owner will receive 60-days at the property, and receive a 4-5% return on the investment. That’s more money than most people earn on cash sitting in a bank account. In addition, most maintenance issues will be taken care of by The Pavilions team at no further costs. As part of Phase 3, a spa, bars and restaurants were also developed to provide residents and hotel guests options on site, with the most popular being the 360 Bar to meet for sunset drinks with stunning peak views. The newly developed Firefly Restaurant has also been featured in the 2018 Thailand Tatler Best Restaurant Dining Guide.
Phuket
Phuket in recent years has seen great demand as more foreigners are investing in second homes or increasing their international property portfolio. There is a certain ease in the Thai lifestyle, that is relaxing and welcoming. Thai cuisine is also internationally popular, and these days Phuket can boast its own Iron-Chef, Chef Noi, who is currently at the cutting edge of the culinary scene. Noi was raised in Germany where he attended culinary school before returning to Phuket to raise a family. He has now got a high-tech culinary school built inside his home, and two restaurants called Suay in Phuket which can only be described as the place to be for foodies. It was rumoured during our visit that Chef Noi would soon be receiving his first Michelin star. In addition, sophisticated beach clubs from Europe are making an entrance to provide islanders with an ‘Ibiza’ experience.
Over 30 new hotels are in the pipeline to be built in Phuket over the next 4-years to meet the demand from holiday makers. Thailand is a sought after place because of the food, the ease of travel and the value for money.
Cherngtalay, the area in which The Pavilions property rests is popular with the jet set crew from Hong Kong and Singapore, and now increasingly more buyers from Russia and China are falling in love with Phuket. There are also residents in Dubai who are purchasing second homes on the tropical island. Dubai expats, who have young families, tend to enjoy Phuket as a destination, and for those who wish to escape Dubai summers seeking the cool green canopies of the hillsides. There are many beach clubs that are available during the day, and travelling to and from Phuket to visit nearby islands, like Koh Samui, is also easy.
The Pavilions Residence – the big difference
The unique difference upon arriving to a managed property to versus a stand alone villa is knowing someone has switched on your villa’s air-condition, made the bed, and a grocery store is not the first of your priorities especially when flying in late in the evening. At The Pavilion Phuket Residences, room service and restaurants are available upon arrival, a luxury in itself – these days people will pay for convenience. A pad thai and a fresh coconut should be the standard reward on arrival for any traveller in Thailand. After all, a holiday home should feel like a holiday.
What’s on offer
There are currently four 4-bedroom villas for sale, and two 3-bedroom villas on sale priced with the former holding a price tag for around USD1.6million with a 90-year lease. The properties’ interiors are currently blank canvases giving the owners the option to tailor design or use the help of the in-house interior designer to furnish the property. In addition, there is also a two-bedroom penthouse apartment above the block of studio apartments still for sale although likely to be sold very quickly. Ideally, this penthouse is great for families coming from Dubai who have extended families. The main family can stay in the penthouse, whilst extended family can take one or two of the studio rooms.
The Visionary
The man behind the vision is the Group’s CEO and lawyer, Gordon Oldham, who has been based in Hong Kong for over 40 years. He founded his law firm, Oldham, Lie and Nie where he remains a partner looking some of Asia’s most well-known and affluent businessmen and women. Although the model to invest within a hotel group is becoming more commonplace all over the world, it is still important as an investor to do due diligence on the decision-makers behind the project. It is important to note that Gordon Oldham understands the Asian market from a legal and business point of view, and sweeps through a series possible investment scenarios, working out business and legal issues for each before making the investment. He is a colourful, enigmatic and enthusiastic character who is transparent and straightforward. From meeting him, he encompasses the Nike philosophy of ‘Just Do It’. Half the battle with any business is getting it off the ground. Oldham envisions his projects and works out creatively to find solutions for his projects; it is his logical and anylytical skills acquired from years of legal experience that enables him to invest with such ease. His reputation around Asia as a sound lawyer has also earned him the respect of friends and colleagues who comfortably invest in his projects around the world. His Pavilions Niseiko project sold out before he even broke ground.
Travel to Phuket
Emirates Airlines flies directly to Phuket twice daily making travel extremely easy. A 6 – 7 hour flight from Dubai International Airport to exchange the desert for the tropics at a whim is always tempting. The Pavilions Residence is only 20 minutes away from Phuket International Airport, and 50 minutes from Bangkok.
There are also two other stunning villas on sale in other areas of Phuket and internationally too.
For more information, please contact:
Emilia Lopez, The Pavilions Residences
Email: emilia@pavilionshotels.com
Tel: +852 3702 6574