Bermuda private residence club sells 40 fractions in June
The Reefs Club, a private residence club in Bermuda, has made 40 fractional real estate sales during two weeks in June. The club has welcomed 37 new members and three existing owners who have purchased an additional fractional interest.
“Having completed construction of The Reefs Club in the midst of the recent economic recession, we are thrilled and encouraged at the recent sales success. It is a testament to the strengthening of the private residence club market and the peerless nature of The Reefs Club product,” said Peter Kempf, president and CEO of Peter Kempf International, the club's sales and marketing consultant.
Owners at The Reefs Club purchase a 1/10th deeded interest in one of 19 two-or-three-bedroom luxuriously appointed residences, with prices start at US$179,500 for a two-bedroom, and $229,000 USD for a three-bedroom unit. Prices will be increasing on July 1st.
Located on a limestone bluff overlooking a secluded pink sand beach, The club’s residences feature spacious interiors with retractable floor-to-ceiling glass doors, a private terrace with whirlpool spa, a gourmet kitchen, two master suites and unobstructed ocean views.
Amenities include an infinity-edge heated swimming pool and jetted spa, private owner’s lounge with pool table and bar, a state-of-the-art fitness centre, full concierge and housekeeping services and access to three on-site restaurants and La Serena Spa – which was recently rated in the Caribbean's top five.
David Dodwell, whose family has owned and operated The Reefs for 37 years and who is the developer of the club said: “We are very pleased with the success of our recent sales drive and would like to welcome the new owners to what we earnestly believe to be the best vacation home value proposition in the world.”