Patty Nugent CIREBA agent of the year 2013

Congratulations to Cayman Islands Sotheby's International Realty agent Patty Nugent who crowned a stellar year by being voted the Cayman Islands Real Estate Brokers Association's (CIREBA) agent of the  year. CIREBA agent of the year is the most prestigious accolade awarded by the association and voted for by fellow members of the CIREBA multi listing system and is recognition that Patty shows the same courtesy and service to her fellow CIREBA agents as she does her real estate customers and clientele. Patty Nugent is a senior member of staff at Cayman Islands Sotheby's International Realty servicing for the most part the luxury property markets of Rum Point, Cayman Kai, North Side and East End. Within these tightly knit property communities Patty has earned a reputation for getting the job done, being straight with sellers regarding realistic selling prices and thus avoiding the hazard of frustrated vendors with unrealistic expectations and properties that languish long on the market  combining this with the global marketing reach of the Sotheby's International Realty network to bring buyers to Cayman from around the world. As a resident of East End Patty provides invaluable local information to property buyers looking for their Caribbean beachfront home and derives great satisfaction in helping to make the dreams of her real estate customers become a reality.

Contact Patty Nugent: +1.345.525.3003

patty.nugent@sothebysrealty.com

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Sotheby's International Realty brand enters Panama

Sotheby’s International Realty Affiliates LLC today announced the signing of an exclusive 25-year master franchise agreement with Global Realty Enterprises, S.A, to develop the Sotheby’s International Realty® brand throughout Panama, with the opening of Panama Sotheby’s International Realty in Panama City.

Panama Sotheby’s International Realty is owned by Rafael Alejandro Gangi, who founded Global Realty Enterprises, an established real estate company specializing in the metropolitan, mountain, beach and golf markets of Panama that will now do business as Panama Sotheby’s International Realty.

“Panama is a strategically important market for the Sotheby’s International Realty brand,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The real estate market is very dynamic and represents another key step forward in our growth in Latin America. Panama is competitive in the tourism sector and is ranked second in per capita foreign investment in Latin America. We are proud to enter this beautiful country under Rafael Alejandro Gangi’s established leadership.”

According to Gangi, his team has more than 10 years’ experience in the international market and is trained to guide clients on how to capitalize on their investments. “Our philosophy is based on an integrated vision of excellence and professionalism in our services,” he said. “We believe that the global reach of theSotheby’s International Realty brand will help us showcase the fine property we represent to a broad base of consumers worldwide.”

The Sotheby’s International Realty network currently has nearly 14,000 sales associates located in approximately 680 offices in 49 countries and territories worldwide. Panama Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

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Sotheby's International Realty office opens in Nelson, New Zealand

Click here for Sotheby's International Realty Properties for sale in Nelson, New Zealand

New Zealand’s premier residential real estate company opens a new showroom and office in Nelson today (Monday 25 November), demonstrating continued expansion and investment in its business.

New Zealand Sotheby’s International Realty, which has its head office in Queenstown and offices throughout the country, will open the Trafalgar Street office, making it the third to open in as many months.

Independently New Zealand owned and operated, the company is the fastest growing privately-owned real estate business in the country, undergoing significant expansion and investment.

Located in the heart of Nelson at the base of the iconic and highly-recognisable Cathedral Steps, the Nelson showroom is in one of the city’s highest foot traffic areas attracting a large number of local and international visitors.

The expansive new showroom will be spearheaded by well-known Nelson local Simone Henbrey, alongside local registered real estate salesperson Wendy Lindbom as administration support.

New Zealand Sotheby’s International Realty co-owners Julian Brown and Mark Harris said the Nelson premise was possibly one of the company’s "best and most high profile locations".

"The response from the locals has been so supportive and people have really noticed that Simone and New Zealand Sotheby’s International Realty have a unique point of difference when selling or buying a property," they said.

"Our extensive national and international referral network is an incredibly powerful selling tool.

"Coupled with other unique marketing tools such as our bi-monthly Property Style magazine that’s distributed to an extensive database and found in major Koru lounges throughout Australia and New Zealand, we offer a level of service unrivalled in the area."

The Nelson-based team will work closely with specialised broker Mike Barnett who works for the company in the Marlborough region, providing a referral network between the two regions.

Ms Henbrey has lived in Nelson’s Cathedral area with her two children for eight years and joined the company in May.

She said the Sotheby’s International Realty brand had been "incredibly well received" in the region.

"I knew there was demand in the area for a brand as prestigious and well thought of as Sotheby’s International Realty and I’ve been overwhelmed with the positive feedback so far," she said.

"It’s been a very successful six months with multiple properties sold, some of which had previously stood quiet for some time, and I’m delighted to have some amazing listings on our books right now.

"The showroom enables us to market homes to a wider audience and with the generous window space it’s perfect for large property displays. You won’t miss it when you walk by."

"I certainly have been busy these last few months. People appreciate and love the fresh approach that comes with listing your home with the New Zealand Sotheby’s International Realty network of offices," she said.

"The company’s referral system is second-to-none so as soon as a property is listed with me in Nelson, it’s listed with the entire Sotheby’s International Realty team globally, and with over 13,000 associates worldwide across 660 offices, that’s a pretty strong team."

Ms Henbrey has marketed and sold a number of high profile properties including several large family homes in Nelson’s dress circle above the Cathedral and an iconic historic cottage in Victory.

Simone has also just listed Nelson’s premium Quay Waterfront Apartments on an exclusive basis.

"The Quay Apartments are one of the town’s most iconic residences and I’m excited to showcase them to not only the local and New Zealand market but also the world."

Ms Henbrey said more than half of her recent sales were to purchasers relocating to Nelson.

"It isn’t just about the monetary value; a home boasts unique aspects that make it special to current and future owners," she said.

"It could be the last beachfront property of its kind, have million dollar views unrivalled in Nelson or it could be a one-bedroom period villa. Each has a unique proposition that makes it special."

Ms Henbrey is highly-regarded in the Nelson area for her work on restoring the town’s historic Melrose House, responsible for fundraising, organising open days and attracting sponsorship to ensure the property, built around 1879, was returned to its former glory.

Ms Henbrey started her property career in 1995 in Auckland, where she was responsible for the marketing and sales of period homes in Mt Eden before moving to Nelson in 2005.

She is also an experienced and award-winning interior designer, graduating from the Auckland School of Interior Design and New York’s Sheffield School of Interior Design

The Nelson showroom comes hot on the heels of new offices in Central Otago’s Wanaka and Arrowtown, taking the company’s offices up to eight with more in the pipeline.

Sotheby’s International Realty Brand Enters Saudi Arabia

Sotheby’s International Realty Affiliates LLC today announced it has signed an exclusive  25-year master franchise agreement with  Regents Group LLC to develop the Sotheby’s International Realty® brand throughout Saudi Arabia, Bahrain and Kuwait, with its first office set to open in Riyadh this month.

The firm will conduct business as First Regents Sotheby’s International Realty with Paul Aiken as managing broker. The office in Riyadh will serve the luxury residential real estate market throughout Riyadh, Jeddah, Dammam and Al Khobar.

“Saudi Arabia is a strategically important market for the Sotheby’s International Realtybrand and this signing represents a key step forward in our overall growth plans across the Middle East,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC.  “The First Regents Sotheby’s International Realty team offers in-depth local knowledge and is led by an experienced management team.  Many Saudi nationals look to international markets to purchase real estate, making this an important new market for our luxury network.”

First Regents Sotheby’s International Realty is located at King Fahad Road, Tatweer Tower in Riyadh. 

“First Regents Sotheby’s International Realty aims to provide excellence in service and the widest local and  international visibility for sales and rentals of extraordinary residential and commercial properties,” said Aiken. “We excel at marketing our clients' exclusive properties through online channels to ensure that each property receives the awareness it deserves, both locally and internationally.”

The Sotheby’s International Realty network currently has nearly 14,000 sales associates located in approximately 680 offices in 49 countries and territories worldwide.  First Regents Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

Dubai Sotheby's International Realty launches

Sotheby's International Realty Affiliates LLC today announced it has signed an exclusive 25-year master franchise agreement with Prime Realty Ltd to develop the Sotheby's International Realty(R) brand throughout the United Arab Emirates, with its first office set to open next to Dubai's Burj Khalifa in November 2013.

The firm will conduct business as Dubai Sotheby's International Realty with Billy Rautenbach as managing director and Eric Roche, who spent nearly a decade at Sotheby's International Realty in its Manhattan East Side brokerage office in New York City, as director of international sales and development.

"Dubai is a strategically important market for the Sotheby's International Realty brand and this signing represents a key step forward in our overall growth plans across the Middle East," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The Dubai Sotheby's International team offers local knowledge and experience and is led by a seasoned executive team. Billy Rautenbach has been in real estate for 28 years, with nine years in Dubai. During this time, she has cultivated one of the largest real estate businesses in the Middle East and gained expertise in leading a team of more than 600 in property management, sales, leasing, investments, project development, management and marketing both locally and internationally."

The office will be located at Emaar Boulevard Plaza, Tower One, Suite 2601, next to the Burj Khalifa.

"We strive to provide the very best service to our clients," said Roche. "This is underlined by the significant attention and involvement we give to all our clients and services, both locally and regionally. Over the years, we have acquired an excellent reputation and a credible track record as leading specialists in our chosen fields, and the Sotheby's International Realty brand's reputation as the world's premium luxury property marketer is a perfect fit for this region."

The Sotheby's International Realty network currently has more than 13,000 sales associates located in approximately 670 offices in 49 countries and territories worldwide. Dubai Sotheby's International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.

Kimpton Hotel Cayman receives planning permission.

An artist’s impression of the planned Kimpton hotel shows how Dart Realty’s $200 million project will change the visual landscape of the Seven Mile Beach area. 

The design plans for the project have been revealed following the Central Planning Authority’s decision to grant approval for the hotel and condo development, which features two 10-story buildings and six beach-front bungalows. 

“We are delighted to have received approval from the Central Planning Authority for the Kimpton resort and we look forward to starting construction,” said Jackie Doak, chief operating officer of Dart Realty.  

“The Kimpton resort will expand and complement Cayman’s high quality tourism product. This is an important milestone in growing our tourism product and facilitating continued economic recovery. Employment and contracting opportunities relating to the construction of the hotel with DECCO and its sub-contractors will be commencing in the upcoming months,” she added. 

The permanent closure of a small part of West Bay Road has enabled designers to position the hotel well back from the coastline. The design takes advantage of the extra space with amenities, including the pool, public walkway and gardens between the buildings and the water. 

The plans feature a rooftop restaurant and bar featuring 360-degree ocean views and all guest rooms will have a view of the water, taking advantage of the location between Seven Mile Beach and the North Sound.  

The plans also feature a glass-walled lobby and arrival court, raised 24 feet above sea level to offer guests sweeping views of the pool, gardens and ocean. 

The bulk of the parking will be underground and the resort’s open spaces, including the beach bar and walkway/bicycle path, will be open to the public.  

Trendy San Francisco hotel chain Kimpton signed up in July to manage the property, scheduled to open in late 2016. 

The project will create around 400 jobs, according to Dart, and PricewaterhouseCoopers has said the hotel will generate $755 million for the local economy over 20 years. 

The hotel will have “265 keys.” This includes 37 suites which are for sale and the six bungalows. Adjacent to the hotel is the residential building, which features 61 condos. 

Dart says the design is intended to craft a “modern Caymanian and Caribbean aesthetic” that “sets the tone for future Seven Mile Beach development.” 

SB Architects and John Doak Architecture are collaborating on the design.  

The Central Planning Authority granted planning permission with minor conditions, including the addition of 15 extra parking spaces. 

The National Roads Authority agreement between the Cayman Islands government and the developer, which paved the way for the hotel to be built in the planned location, remains a point of controversy for some.  

A lawsuit filed in February by four West Bay residents claims land swaps between government and Dart violated due process, were “unconstitutional,” “irrational” and “ultra vires,” or outside the law. Dart is contesting the suit along with four government agencies.

Shared from original article in Cayman Compass.

Kimpton Hotel - Seven Mile Beach

The Caymanian Compass reports:

The Dart Group’s Kimpton hotel won’t just be the Cayman Islands’ first 10-storey building, it will be the country’s first pair of 10-storey buildings. 

That’s according to a planning application filed by local architect John Doak on behalf of Blossom Estates, the Dart company in charge of the Seven Mile Beach resort project. 

The plans call for a 10-storey hotel building and a 10-storey condo building, each about 130 feet tall, plus three one-storey bungalows, between the Esterley Tibbetts Highway and the now-closed strip of West Bay Road. According to the plans, the existing Surfside Beach Restaurant & Bar will remain on the beachside. Also preserved is an existing public right-of-way to Public Beach. 

The section of West Bay Road was closed in exchange for Dart extending the Esterley Tibbetts to West Bay, under an agreement between Dart and the former United Democratic Party government. A group of residents has challenged that closure in court and a hearing on the case is due to be held in December. 

According to the planning application, Dart’s hotel is expected to cost $139 million to build, with 60 per cent of costs for materials and 40 per cent for labour. Planning fees totalled more than $239,000. 

The footprint of the proposed project is 111,898 square feet, with a gross floor area of 589,170 square feet. 

Square footage  

The footprint of the hotel building is 75,248 square feet, with a total gross floor area of 414,426 square feet. There is some 34,638 square feet of commercial space in the hotel building, for a spa, shops, two restaurants, a bar and meeting rooms. The footprint of the condo building is 36,650 square feet, with a total gross area of 170,244 square feet. Each of the three bungalows is 1,500 square feet. 

The buildings are clustered around a pool, with the complex opening up to Seven Mile Beach. 

In addition to the 10 storeys of living space, each building has two storeys for underground parking. In total, the hotel building has 203 rooms and 37 apartments, ranging in size from 582 square feet for a single king-sized room to 2,563 for a four-bedroom apartment. The condo building has 62 units, ranging from 650 square feet for a studio, to 3,066 square feet for a four-bedroom apartment. There are six bungalow units in all, each being 750 square feet. 

Features  

The first floor of the hotel building contains the lobby, a 5,000-square foot grand ballroom with a terrace, a 2,200-square-foot junior ballroom and a 750-square-foot bedroom. The lobby also contains a 2,120-square-foot space for “Dart retail”, lounge bar and a three-meal restaurant, on the beachside of the building, with seating for about 70 people. 

The 10th floor of the hotel building contains a “sky bar and feature restaurant”, with indoor and outdoor seating for about 60 people.  

The first floors of the hotel and condo buildings are 24 and 25 feet above mean sea level, and their roofs rise to about 142 feet above sea level, with the entire physical structures sitting under the maximum 158-foot height set by Cayman’s aviation authority. 

To gain access to the property, the plans show a curving divided driveway extending northwest from the Esterley Tibbetts to the resort buildings. In addition to underground parking, there is a surface parking lot with 158 spaces next to the Esterley Tibbetts. 

Companies  

The US architect is SB Architects of Florida, along with local firm John Doak Architecture. The landscape architect is ESDA of Maryland. The structural engineer is APEC Consulting Engineers of Cayman. The MEP engineer is TLC Engineering for Architecture of Florida. 

Earlier in July, Dart formally announced that San Francisco-based Kimpton will manage the new hotel. Dart acquired the site from developer Stan Thomas in 2011. The property is the location of the former Courtyard Marriott, which was demolished to make way for the new hotel.  

The opening date for the Kimpton in Cayman is 2016. The plans for the hotel are available for public viewing at the Cayman Islands Planning Department, and 
still have to be approved by officials.