lifestyle 2013

the barrister

LifeStyle Supplement 2013

Wealth in a World of Change

The world is changing faster and more fundamentally than at any time in history.

At Kaiser Partner, we believe that with such change comes the need to change the way wealth is managed and created.

In our ‘Guide for Wealth Owners’ we have compiled a set of new thoughts and principles to successfully navigate wealth in these unprecedented times. To obtain a copy, or for a more connected conversation about your wealth, please get in touch via our website… www.kaiserpartner.com

Kaiser Partner is an award-winning wealth management group and private bank headquartered in Liechtenstein, with roots dating back to 1931. Comprising a leading trust company, a Private Bank specialising on asset management, an SEC registered investment advisor exclusively in ZollikonZurich/Switzerland, a family office and a funds administrator, the group is equipped to service wealthy individuals around the world. While Kaiser Partner operates out of Switzerland and Liechtenstein, the group is capable of creating solutions for practically all aspects of wealth. The group has a long tradition in the UK market and clients benefit from exclusive access to an extensive network of trusted partners and friends of the organisation. However, what makes us unique is down to our approach.

Our Mission Kaiser Partner’s mission is to help our clients to preserve and manage their wealth, using it to make the most positive impact, for them, for their families, for their communities and for the world at large. We realise that whilst everything on our earth is interconnected, we must make it our priority to understand and engage with the causes of change, and

Kaiser Partner Trust Services Anstalt Präsidial-Anstalt CorTrust reg.

Pflugstrasse 10 9490 Vaduz, Liechtenstein T: +423 236 58 00 F: +423 236 58 01 www.kaiserpartner.com

formulate dynamic strategies to harness its power in the most positive and influential way. The fundament of our approach rests on four main values:

Big Picture Understanding We are a knowledge company. We invest in understanding, not just the world of our clients but also the world as a whole. We take the time to discuss what we’ve learned and to evaluate what it means. Every decision we make can be linked directly back to our big picture understanding.

Perpetual Innovation We are an inventive company. We believe that the tools required to successfully manage wealth should constantly be adjusted so that they are optimised to the changing world. We look at traditional systems in new ways, and are happy to go outside the norm in search of a better way.

Taking Responsibility We are a caring company. We take responsibility for our actions just as we expect our clients to be cognisant of the broader role their wealth plays. We believe that sustainability and responsibility are no longer a ‘nice-to-have’ but a ‘must-have’.

Kaiser Partner Privatbank AG Herrengasse 23 9490 Vaduz, Liechtenstein T: +423 237 80 00 F: +423 237 80 01 www.kaiserpartner.com

Being Brave We are a pioneering company. We act on our intelligence and our beliefs independently from the collective approval of our industry.

Safety can no longer be achieved by flocking together but by standing for what’s right and appropriate for the times.

Group Genius Kaiser Partner aligns its interests with those of its clients. Thanks to the combination of a leading trust company with a bank, we are able to design many solutions as required by the tax advisors. It is important to note that Kaiser Partner follows the belief of group genius, this means that we act as a platform where the best people and experts – be they internal or external, from the banking industry, the trust industry or any other industry as needed – come together at one table to design the best solution for the situation the client would like to resolve.

Solutions must be sustainable and great emphasis is put on their durability and viability.

Therefore, we invite you to use our knowledge, our experience, our values and approach, and walk the journey together with us to mutual success.

Kaiser Partner Financial Advisors Ltd. Zollikerstrasse 60 8702 Zollikon-Zurich, Switzerland T: +41 44 752 51 11 F: +41 44 752 51 35 www.financial-advisors.ch

A Growing Investment Forests – a place to invest your capital Did You Know?

Interested?

That UK Forest land has performed remarkably well through these turbulent times. Demand for timber and wood products of all types is forecast to increase dramatically over this decade.

UPM Tilhill, the UK’s largest private forest management company, can provide you with a dedicated woodland investment advice service through our specialist team of advisors.

The UPM Tilhill and Savills Forest Market Report 2012 identified a 49% increase in commercial forest values in the year to September 2012.

We also have a network of professionally qualified foresters serving the UK and can deliver a full management service to forest owners, whatever their requirements.

Recent IPD UK Forest Index data shows a return of 34.8% over 1 year and 20.4% over 5 years – far better than equities, gilts or commercial property over the same period.

Commercial forest investments from £100,000 to £2,000,000+ are available in the UK and benefit from: • No income tax on timber sales.

• 100% Inheritance Tax exemption (after 2 years of ownership).

• Capital Gains Tax only applies to the land, not the trees.

• Suitable for inclusion in a SIPP. They provide: • medium to long term, asset backed investments.

• flexible cash flows.

• an opportunity to benefit from rising timber values.

• green credentials.

Commercial forestry investments are also available through UPM, our parent company in Finland, along with opportunities for purchasing lakeside cabin plots in Finland.

If you would like further information, please do not hesitate to contact: Crispin Golding, Woodland Investment Adviser:

Tel: 01884 840160 Mobile: 07920 592 973 Email: crispin.golding@upm.com

www.upm-tilhill.com

UPM TILHILL

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At Home in the Peloponnese

By Emma Pawson

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Sunrise in the Peloponnese… slivers of amber sunlight stream across the surface of the Argosaronic Gulf and the cloudless sky drains the black of night. The early morning call of a Great Crested Grebe ripples around the hillside coaxing the landscape awake and in the air, is the soft smell of olives oozing from the branches of the olive groves. This is Amanzo’e Villas, Greece’s finest luxury retreat, an Eden in an ancient land that has gently come to life over the last 12 months. the barrister | Lifestyle supplement

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Crafted into the hillside on the southern-most point of the Peloponnese, a majestic hotel and its 38 guest pavilions overlook some of the country’s most breathtaking scenery. Cobalt ocean views stretch out in every direction beyond a carpet of wild flowers and softly undulating landscape. A handful of elegant Grecian villas resplendent with concrete columns and white marble facades also dot the landscape, carefully positioned to take advantage of the spectacular vistas. Encased in history, from the country considered the bedrock of civilisation, these coveted villas afford a lifestyle like no other defined by tranquility, rich local produce and an unparalleled setting.

Designed by celebrated architect Ed Tuttle, echoes of authentic Greek oeuvres can be found throughout the residences, subtly interspersed with cutting edge features aligning with modern lifestyles. Styling is of the highest calibre and was conceived of with the beauty of the landscape in mind. Cavernous bathtubs are positioned behind floor to ceiling glass windows to ensure that homeowners can absorb the beauty of their surroundings no matter what they are doing. Stonewalled courtyards lead into spacious, high-ceilinged living and sleeping areas with beds positioned in marble-walled alcoves opening onto shaded terraces. Outside, verandas are crowned by garlands of magenta bougainvillea and fall away to private swimming pools and carefully landscaped grounds; the perfect spot for al fresco entertaining or secluded musings. Villas range from two to five bedrooms to accommodate parties of all sizes and enjoy private pools and generous living areas.

The nearby Amanzo’e hotel, which opens for its first full season in March 2013, is the jewel in the destination’s crown enhancing homeowners’ experiences by serving their every need. The dedicated concierge team, on hand 24 hours a day, will bring all the comforts of the hotel into the privacy of villa homes to ensure the uttermost in superlative living. Private chefs will concoct individual menus served by personal butlers to both single homeowners and rooms full of guests.

A selection of multi-lingual books from the hotel’s carefully stocked library will be delivered into the hands of homeowners seeking the ultimate tranquil escape. And for those embracing a healthy holistic lifestyle, sunset yoga lessons can be taught around villas’ pools. Scrupulously trained Aman Spa therapists meanwhile can administer bespoke treatments

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from a private terrace or villa bedroom; indulgence of the highest level. All treatment plans are recorded so that returning homeowners need do no more than lift the phone to book an appointment, then enjoy the results of a regular and bespoke treatment plan.

Close by, the hotel’s other amenities beckon. A boutique tempts with a variety of Greek handicrafts and jewellery whilst a small art gallery displays works by local artists, which are available for purchase. The much-anticipated Beach Club, reached through a pungent pine forest and olive orchard, overlooks the resort’s private beach and serves un-missable cocktails at the water’s edge.

For the more active, an array of non-motorized watersports are available, from paddle boarding to sailing, the perfect antidote to holiday indulgence.

Memorable dining is something that defines Amanzo’e and its villas thanks to the bountiful landscape that surrounds them.

Originally farmland and grazing pastures, resort creators have been careful to leave existing farms and livestock untouched during construction meaning the resort has taken on a charming rural feel. Farmers working within the bounds of Amanzo’e have become friends to the chefs delivering the freshest ingredients for the resort’s ever-changing menus. Everything from freshly made honey to pasteurized cheese and unctuous olive oil are supplied on a daily basis to the restaurant; a shaded, high-ceilinged structure defined by floor-to-ceiling windows that maximise sea views.

Overlooking two of Greece’s most charming islands; Spetses and Hydra, Amanzo’e Villas is the perfect spot from which to island hop. The peninsula is surrounded by numerous uninhabited islets

which are ideal for day trips, sailing excursions and swimming in secluded coves. Ten minutes across the bay by water taxi is the car-free island of Spetses, known for its sea-faring traditions, its heroic contribution to Greek Independence from the Ottoman Empire, its Venetian and neoclassical mansions with pebble mosaic courtyards and its horse-drawn carriages. The next island within hopping distance is the island of Hydra. Also car-free and populated by historic sea captain mansions which evoke an ambience of centuries past, it is renowned for its vibrant dining scene and boho-chic character.

Contributing to the country’s rich history, the area is the birthplace of legends, blessed by a past that embraces the Spartans and Romans, the Byzantines and Venetians, all drawn here over the millennia because of the region’s beauty, wealth and strategic location. Nowadays, the Porto Heli port is defined by atmospheric bars and restaurants and the sailing elite who stop off here on their trips around the islands. Archaeology afficionados in particular, will be enthralled by the perfectly preserved sunken city of Halieis in the Bay of Porto Heli whose submerged houses can be explored while snorkelling and even seen by the naked eye on a clear day.

After a day spent exploring the plethora of local activities or perhaps just enveloped in the privacy of home, evenings at Amanzo’e Villas are made to be spent outside. Dinner is served under skies laden with stars to the percussive tune of cicadas and the lapping waves of the ocean. This is customized living at its very best, this is Amanzo’e Villas.

Villas are available from €3 million.

www.amanvillasph.com

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Women in Law Dinner

By Mair Williams, 187 Fleet Street Chambers Alison Woodward, Louise Bancroft, and Beth Morton

The United Kingdom Association of Women Judges (UKAWJ) joined forces with the Association of Women Barristers (AWB) and the Association of Women Solicitors (AWS) to host a dinner for its members across the Circuit.

The event was sponsored by the Northern Circuit and by the Manchester office of Mills & Reeve solicitors.

Over eighty guests attended the dinner at the Midland Hotel on Thursday 25th October, including a number of men, as the UKAWJ welcomes applications for membership from men and women alike.

The Guest of Honour was Baroness Hale of Richmond, who is the President of the UKAWJ. Baroness Hale’s speech addressed the inequalities within the judiciary with particular reference to gender inequality. She expressed both a strong wish for more women to consider applying for judicial office, and for the judiciary at all levels to become more representative of the people it serves.

She described her own “unusual” legal career prior to judicial appointment. This started as a barrister on the Northern Circuit, followed shortly by practice as an academic lawyer at Manchester

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University (where she was appointed Professor of Law in 1986), and as a law reformer at the Law Commission, before she became a judge in the Family Division of the High Court of Justice in 1994. Lady Hale joined the House of Lords as a Lord of Appeal in Ordinary in January 2004, and served as a Law Lord until 2009 when the Law Lords transferred to the new Supreme Court.

Baroness Hale continues to be the only woman to have been appointed to this position - she clearly that she does not want to be the last!!

The dinner provided a good opportunity for members of the three organisations to meet and/or catch up, and for the barristers and solicitors present to find out more about the pros and cons of judicial office from the members of the judiciary who attended, some of whom had kindly travelled from Leeds, Derby, London and beyond.

The evening concluded with a goody bag for all guests and a raffle, with some very yummy prizes which had been very kindly donated by local firms and businesses, and by 7 Harrington Street chambers, St John’s Buildings and Kenworthy’s chambers. The raffle raised £1650.00 for 2 local charities, the Royal Manchester Children’s Hospital, and ‘Genesis’ which is a Manchester based breast cancer prevention charity.

The event was a great success thanks to the generosity of the sponsors, the enthusiasm of those who attended, and the fabulous organising team which had the benefit of including our own HHJ Roddy and Sally Penni from Kenworthy’s chambers. Sally is the AWB Northern Circuit representative, and would welcome

any enquiries regarding forthcoming meetings. Membership enquiries should please be made to Mair Williams at AWB London

(mairwilliams@187fleetstreet.com). The AWB also very much welcomes male colleagues and guests.

HHJ Roddy (member of UKAWJ committee), Sally Penni (AWB Northern Circuit representative), Baroness Hale of Richmond (President of the UKAWJ), Beverley Phillpotts (Chairman of the Association of Women Solicitors in Manchester)

Since its formation in 2003, the UKAWJ has welcomed members of both sexes and from all levels of the judiciary, including salaried and fee paid judges in courts and tribunals, and from all jurisdictions in the United Kingdom. It is primarily concerned with those matters affecting and/ or of particular concern to women, principally the issues they face in the law and the justice system.

UKAWJ conferences, with their impressive array of speakers, are open to all judges, whether or not they are members, and focus on subjects which are of interest to all.

Full members of the Association are automatically members of the International Association of Women Judges (IAWJ), which holds biennial world conferences attended by judges from all over the world.

Northern Circuit members of the Committee include the Rt Hon The Baroness Hale of Richmond (President), Her Honour Judge Case (Treasurer) and Her Honour Judge Roddy (re-elected to the IAWJ Board of Directors for 2012-14). For further information, please visit www.ukawj.org the barrister | Lifestyle supplement

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Five alternative investments

By Paul Fraser, founder of Paul Fraser Collectibles

You’ll want to show them off.

But I’m also sure you’ll want to keep them to yourself.

Because these investments are truly some of the most special, stunning items available to own in the world.

They are the pinnacle of the collectibles sector. The rarest, most iconic pieces of human history – from centuries ago to the present day.

Historical artefacts, personal memorabilia, rare autographs.

Not only are they incredible pieces to collect and own, they also offer great investment potential.

Indeed, their low correlation to the stock market and immunity to inflation has seen a growing number of investors diversify into the sector during the recent economic troubles.

This really is a market where it pays to be bold. Aim for the finest and rarest pieces – the ones that all other collectors aspire to.

That’s where the big gains can be made. It is far better to buy one exquisite piece for £10,000 than 10 for £1,000.

I’ve been involved in the collectibles market for 35 years. I’ve never been as excited about the five sectors below as I am right now.

Space memorabilia “You don’t know what you’ve got till it’s gone”. Should Joni Mitchell happen upon these pages she would surely take exception to

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my comparison of the growing regard for the 12 Moonwalkers (and their memorabilia’s subsequent rise in value) with her anticapitalist standpoint.

But her words make a good point.

As demonstrated by Neil Armstrong’s death last year, this is a sector whose key players are slowly departing the scene, both capping the market for their memorabilia and making people nostalgic for the space race of the 60s and 70s. This has increased demand for space memorabilia, with prices rising accordingly.

The first man on the Moon’s autograph rose in value by 26.1% between 2011 and 2012, according to the sector’s barometer, the PFC40 Autograph Index – due in part to increased demand following his death.

Yet auction results from past years reveal the sector needs little

you’ve never considered.

3 tips for collectibles investment success •The rarest, most desirable pieces generally offer the best price appreciation.

•This is a mid- to long-term investment. 12 month profits are possible, but are uncommon.

•Fakes are the bane of the industry – buy through a reputable dealer who offers a lifetime guarantee.

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encouragement to produce eye catching figures.

• The Apollo 11 flight patch worn in space by the mission’s oftforgotten third member, Michael Collins, achieved $85,400 in 2010.

• A space-flown checklist used by the Apollo 13 crew to help the stricken spacecraft to safety made $388,375 in 2011.

• The Vostok 3KA-2, a test capsule sent up ahead of Yuri Gagarin’s historic first manned mission in space, auctioned for $2.9m in 2011 – a record price for space memorabilia.

In the decades to come, as the mystique surrounding the pioneers of space travel grows, I expect to see demand for these select pieces soar even higher.

Historical documents Think important historical documents are solely the preserve of museums and seats of learning? Think again. True, world changing documents are seldom seen at auction, but when they are, they can achieve huge prices. Last year, David Rubenstein, co-founder of the Carlyle Group, spent $2.1m on an original copy of Abraham Lincoln’s signed Emancipation Proclamation. Why did it achieve that much? Importance and rarity. Its importance to the history of race equality, and the history of America. Its rarity in that just 48 were signed by Lincoln, and only 26 are known to exist. Fewer still remain in private hands.

And it has company.

• George Washington’s personal copy of the Acts of Congress auctioned for $9.8m in June – we recently sold Washington’s earliest known signature for £65,000.

• A copy of Shakespeare’s rare Third Folio sold for $374,500 in May. • The court indictment of Margaret Scott, convicted of witchcraft at the Salem witch trials in 1692, sold for $31,200 in March of last year.

And in June a document signed by Richard III achieved £109,250.

Yes, the same Richard III whose remains were discovered in Leicester recently. No document signed by Richard while he was king had arrived at auction in the previous 40 years, and this particular item had last sold for $850 in May 1960 – a 10.7% pa increase over 52 years. Who knows what the excitement surrounding the discovery will do for the value of this artefact?

Rare stamps The 1910 2d Tyrian Plum is one of the most exciting stamps on the auction scene.

Only 12 exist, and three are housed in the Queen’s Royal Philatelic Collection. Priced at £20,000 in 2002, unused examples were valued at £110,000 in 2012 – an 18.6% pa increase in a decade. We currently have the only example for sale in the world.

The figures are representative of the continuing rise in value for the stamp sector’s rarest examples, with serious collectors and investors fighting for ownership.

Indeed, the world’s 100 most commonly traded stamps have grown in value by 5.0% pa since 2000, according to one leading index.

And an anticipated influx of wealthy buyers to the sector looks set to provide even greater impetus to the market over the coming

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years. This will come in large part from the growing economic markets of India and China, whose wealthy elite are repatriating their country’s heritage, including its philatelic history, before turning their attention to leading examples from other countries.

Film memorabilia “Oh, isn’t it delicious?”

The words of Marilyn Monroe, dress billowing above a breezy grate as a subway train passes below ground.

The famous name and the iconic nature of the scene combined to ensure that the dress she wore in 1955’s The Seven Year Itch auctioned for $5.6m in 2011 – a film memorabilia world record.

I was an underbidder at the sale – one of the most electrically charged auctions I’ve ever experienced.

And the Famous Name + Iconic Scene/Film = Big Price equation worked again last year, when the only dress worn on screen by Judy Garland in The Wizard of Oz made $480,000. It had last sold for just $2,000 in 1981 – a 19.3% pa rise in value.

Yes, nostalgia for the golden age of cinema is at an all-time high; the “play it Sam” piano from Casablanca made $602,500 in December.

Yet more recent films also offer potential, although take care to ensure the film in question is guaranteed to be well regarded in the decades to come. 1997’s Titanic appears set to age well, which means the $330,000 paid in December for Kate Winslet’s dress from her famous “jump scene” in the film could be a good piece of business.

Rare autographs Unless you’re in the market for one of Shakespeare’s six known signatures (valued at $3m and all housed in institutions) you will find the rare autographs market a relatively accessible sector – and a potentially profitable one.

The key figures of the 20th century drive this market. In addition to Neil Armstrong’s strong-performing signature, there are the likes of James Dean. His autograph is hugely rare on account of his short life and limited time in the celebrity spotlight. Dean’s signed photographs rose in value by 19.8% pa between 2000 and 2012, states the PFC40 Autograph Index, and are currently valued at £14,000. John F Kennedy’s signature grew in value by 12.4% pa during the same period, a testament to the enduring fascination with the president and his considerable popularity.

Two to look out for are the world’s most valuable living signers: Fidel Castro and Nelson Mandela. Both autographs are valued at £2,950, and both are likely to rise in value considerably when they are no longer with us, as a flood of nostalgic collectors enters the market.

And lastly, if you want to know whether an autograph could be an investment for the future, ask yourself this simple question: “Will they still be talked about in 50 years’ time?” If so, you’re probably looking at one of the autograph sector’s blue chips.

Paul Fraser, founder of Paul Fraser Collectibles http://www.paulfrasercollectibles.com/

Investing with a Dynamic, Innovative Wealth Manager Dream your dreams with open eyes and make them come true T. E. Lawrence

When you have worked hard, been well rewarded and behaved prudently by planning for your retirement and securing your family’s future; there is no excuse for so called professional advisers behaving unethically.

The UK savings and investment industry has lost sight of its moral imperative to remember the human impact of managing people’s money.

At SCM Private our goal is to ensure that we remain relevant to our clients’ needs and expectations and provide 100% transparency both in terms of holdings and fees.

With an independent, dynamic mind-set and an innovative spirit that is not afraid to challenge the status quo; our aim is to help our clients grow their wealth by maximising the upside and minimising the downside.

SCM PRIVATE

We are passionate about what we do and treat investors with respect; never forgetting it is their money we are investing. The founding partners demonstrate their belief in their investment solutions by investing significant funds in exactly the same portfolios as clients, on exactly the same terms.

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As with the legal profession we believe in high standards of professionalism and conducting ourselves within a code of conduct that puts ‘treating customers fairly’ as the overriding business principle.

Call us on 0207 838 8650 to find out why our clients are delighted to recommend us.

We believe in what we do, and we do what we believe in.

Article sponsored by SCM Private The value of investments can go down as well as up, so you could get back less than you invest. It is therefore important you understand that past performance is not a guide to future returns. SCM Private does not give personal advice based on your circumstances. We aim to provide investors with understandable information so they can make fully informed decisions. If you are unsure about the suitability of our investment portfolios please contact an independent financial adviser.

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Living the Tuscan Dream

By Celia Cusack

One of the most memorable delights of travelling to Tuscany is the sense of turning back the clock, of revisiting a time when good food, good company and beautiful surroundings formed the most important facets of day-to-day life.

The region has forever been a go-to destination for holidaymakers who lap up its heady mixture of culture, history and Italian zest for life. Be it spent in a Florentine palazzo, a modest albergo in Siena or an idyllic farmhouse nestled in the ubiquitous rolling hills, a Tuscan break remains a dream getaway. It is no wonder then, that many are keen for their dolce vita experience to last a lifetime rather than a fleeting week or fortnight.

Making the most of this substantial demand, savvy real estate and lifestyle developers are capitalizing on the potential of forgotten Tuscan towns and transforming them into covetable residential destinations. However, none are doing it more sensitively or meticulously than at the hillside estate of Castelfalfi. the barrister | Lifestyle supplement

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The once sleepy and sparsely inhabited village boasts an enviable position just 45 minutes from Pisa and an hour from Florence, and is set to become a lifestyle and residential destination of the highest calibre. In the near future, Castelfalfi will boast three impeccable hotels, two Tuscan restaurants, a number of retail outlets and a wide-ranging real estate offering.

Encompassing over 2,700 acres of prime Tuscan countryside, Castelfalfi has lain untouched for over fifty years. Dating back to Etruscan times, the village was once a prospering town until the rural exodus of the 1960s saw the majority of its residents migrate to the nearby cities. Given its abundance of inherent beauty and charm, Castelfalfi would not have been an easy place to leave behind.

Now however, the estate is entering a new era thanks to the vision of renowned European travel company, TUI. Upon discovery of the neglected parcel of land in 2007, the developers immediately felt drawn to the destination and pictured the endless ways in which life could be breathed back into it. TUI also grasped the

>>

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importance of realising their dream though working closely with the local authorities and municipality of Montaione, ensuring an entirely sympathetic regeneration of the by-gone community. With this firm working ethic in mind, less than 1% of the estate will be constructed upon.

For the many who wish to make Castelfalfi home, there lies a myriad of residential choices already on offer. At the heart of the town, situated on the cobbled streets winding towards the ancient Castello, is a collection of apartments, each of which embodies the perfect Tuscan pied-a-terre. The three separate buildings housing these properties: La Terazza 1, 11 and La Ghialla, have been scrupulously restored from the original structures to resemble their predecessors. The apartments will be the first homes completed, with all 42 ready this summer.

Scattered throughout the wider estate are 18 striking and spacious casali, or farmhouses, discovered in varying stages of disrepair.

Brimming with potential and character and boasting spectacular views, all of the casali are set to be resurrected as luxury homes

according to each buyer’s specific tastes. This bespoke process allows owners to choose many aspects of the design, yet must remain in accordance with building regulations and the estate’s overall Renaissance aesthetic. Skilled Florentine and Venetian craftsmen have been commissioned to oversee this intricate restoration process.

Preserving the traditional appearance of the estate’s architecture has clearly been at the forefront of TUI’s work thus far. In the careful rejuvenation of the 300 year-old La Ghialla apartment building for example, the entirety of the roof ’s original slate tiles were painstakingly removed and re-laid onto the new, modernised roof. Technical Director of Castelfalfi, Felix Voisard, comments, ‘The restoration of the façades of La Ghialla has been so meticulous and subtle that it is hard to tell it has taken place at all – the true sign of high quality restoration work.’

The same level of precision and expertise can be expected during the building of the eleven golf villas, set for the second phase of development, and of a further ambitious component of the project, the development of three new villaggi on the outskirts of the estate. The village clusters will comprise apartments, villas and townhouses, with construction plans underway for the first of the trio, San Pietro.

Another prominent factor taken into account throughout development is TUI’s responsible decision not to enclose Castelfalfi or turn it into a gated community. The village is frequented daily by locals and passing tourists and will remain as such even when

building work comes to an end. Existing facilities include the informal and welcoming Il Rosmarino restaurant, serving the cuisine for which the region is famed: simple, mouth-watering dishes formed from fresh, homegrown produce.

Speaking of homegrown, Castelfalfi is also bountiful in natural resources. The estate’s sweeping thirty acres of verdant vineyard produces a modest yet complex yield of Chianti DOCG and Chianti IGT, blending the full-bodied tastes of Sangiovese, Canaoli and Merlot grapes. This year’s harvest will see the winery expand its repertoire to include the fragrant dessert wine, Vin Santo. Also synonymous with Tuscany, is its celebrated olive oil. Castelfalfi boasts 9,500 olive trees and reaps bottle upon bottle of rich oil, the flavour of which achieves the perfect balance of spicy and sweet elements.

Without doubt, both the sumptuous wine and olive oil will feature heavily on the menu at Castelfalfi’s future gourmet restaurant, just one of the outfits to be housed in the central Castello. Alongside this atmospheric eatery will sit a generous bar, whilst the few surrounding streets will be populated with nine retail boutiques, including the Residents’ Delicatessen which opens its doors later this year. Again, all wares and produce sold will be local to the area.

Whilst the future certainly looks bright for the destination, guests are already flocking to the village thanks to its exceptional golf facilities. Impressive courses are rare in Tuscany, and golfers savour any opportunity to play a round on the region’s undulating landscape. The team at Castelfalfi has therefore gone above and

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beyond by developing not one, but two courses of remarkable calibre.

Completed in late 2011, the 9-hole Lake Course was designed by renowned German golf architect Rainer Preißman and cleverly caters for all golfers irrespective of their handicap. Preißmann also strove to retain and incorporate the Tuscan scenery when constructing the course, keeping the principles of sustainable planning at the forefront of his design. This new addition complements Castelfalfi’s existing 18-hole Mountain Course which opened in 2010 and benefited from further upgrades last year.

Considered one of the most challenging in Italy (Par 72), this course is based on steep gradients and attracts players from afar with its well-placed holes and attractive water features.

Imminently, Castelfalfi will become an even more appealing spot for golfers, and indeed for travellers of all persuasions, as its inaugural hotel officially welcomes its first guests in March.

Marking a momentous step forward for the estate in terms of its lifestyle offering, the boutique La Tabaccaia will feature 32 charming rooms, each traditionally Tuscan in style. The hotel’s distinctive name refers to the building’s time as a tobacco factory, and it is again a testament to the developers that they chose to restore, rather than construct, the estate’s first hotel. Inside, the original wooden beams and tiled ceilings have been perfectly preserved, whilst the chic furnishings are a modern reflection of the building’s rich history and promise comfort as well as an attractive décor.

In the near future, a 5-star Spa and Wellness Hotel will augment the estate’s hotel facilities, and the rejuvenation of the expansive public piscina area is well underway and expected to complete this summer.

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As the estate embarks on its most significant and exciting year yet, developers can reflect on what has been achieved thus far - and it is no mean feat. Whilst preserving the rustic Italian lifestyle sought-after by so many, the expert team has also managed to sensitively drive Castelfalfi into a new age, ready to welcome the most discerning residents and guests. All in all, the regeneration of this one-of-a-kind destination has been a labour of love in its truest form.

For more information on the real estate, golf or hotel facilities at Castelfalfi, visit www.castelfalfi.co.uk or call +39 0571 890170

Prepare for the future with good financial planning

By Ian McNally, Director, Saunderson House Limited Barristers can be so busy meeting the needs of their clients that their own financial needs take a back seat. But effective financial planning is essential to time-poor professionals who want to achieve the financial targets that will meet their future plans. Barristers typically are remunerated in lump sums and by necessity have to have good relationships with their banks for lending facilities while waiting to be paid. These banks however are often unable to provide independent whole of market financial planning, as they usually can only offer products from their own institution John Smith QC a married 47-year old barrister with two children aged five and seven is a typical case study, he was dissatisfied with the financial planning services provided to him by a private bank.

John’s gross earnings were in excess of £1m, amounting to a pre-tax income of around £780,000 after expenses. His wife looked after the children and volunteered her time for local charities. The couple had a £200,000 offset mortgage on their main property, which was valued at c. £3m. They also had a

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second property valued at around £500,000, which was held solely in Mrs Smith’s name. The couple paid £10,000 a year in mortgage repayments and £40,000 on their children’s private school fees.

Their total joint annual expenditure, including living expenses, was £212,000.

John’s existing assets, liabilities, and financial goals, including his retirement plans needed to be identified. This enables the financial planner to ascertain how they can improve John’s existing financial arrangements so that they accurately reflect his needs. His existing assets needed to be analysed to see whether they were cost-effective and to ensure that he and his wife were using all their tax-efficient allowances, including capital gains tax and pension allowances. A good financial planner will keep whatever was found in Mr Smith’s existing portfolio that was good and fit for purpose, but other assets within pension and ISA wrappers often times benefit from simplifying and consolidating.

Securing an adequate income for retirement was high on John’s list of priorities, as he wanted to maintain his standard of living during retirement. He stated that he had no plans to retire before the age of 60. Other priorities included paying for his children’s education, investment planning, long-term savings and repaying his mortgage.

John also wanted advice on whether he had the flexibility to move to a lower-paid job, as a judge, within a few years.

The use of a correctly modelled cashflow which looks at John’s current assets, income, expenditure and anticipated income in retirement alongside investment return and inflation models is very powerful. It enables the financial planner to project the potential values of John’s assets and income over time. It is also very beneficial in helping John decide which level of risk is appropriate to achieve his target income level in retirement.

John, as is typical for a person of his age and profession, had a number of different pension products, including insured pension plans with relatively limited fund ranges. The financial planner analyses these plans to ensure they do not have any contractedout benefits (if relevant) or guaranteed annuity rates which would be valuable if retained. The recommendation in this case was then to consolidate his suitable pension plans in to a self-invested personal pension plan (SIPP). The SIPP allows investment in to any approved asset class including investment trusts, unit trusts and gilts, which are not generally available to insured pension plans. Where the investments were made into funds, single-sector unit trust funds were recommended, the financial planner will also check that John and his wife are maximising their pension contributions up to the annual allowance. A headroom check for the lifetime allowance (LTA) revealed that John had scope to make the maximum contributions allowed in his SIPP during the current and the following tax years. Junior ISAs for the children are also prudent as they are tax efficient way of saving for their future, the financial planner can highlight other areas in which saving for children can be maximised and protected. *The example represents a typical Saunderson House client situation though, to ensure confidentiality, the client names used are fictitious and some details have been changed.

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A good financial planner will discuss and agree investment objectives and goals with John and his wife ensuring that these are specific, reasonable and set to a timescale.

In this example John wanted to take a balanced attitude to investment risk, which meant he wanted to grow his capital through a combination of lower risk, less volatile cash and fixedinterest assets and higher risk, more volatile equity and property investments. A simple, transparent and liquid portfolio of investments works well for this type of investment strategy.

John had several Stocks and Shares ISAs with different investment managers, so the best course of action was to consolidate these into one single investment platform. This enabled John to administer the portfolio cost-effectively and view it in one place online. It also meant that an effective investment strategy could be implemented with minimum administration.

John also had some directly-held investments, including a small equity holding which the financial planner advised him to sell and reinvest the proceeds from into his ISA. He also held multiple government-backed National Savings index-linked certificates, worth over £90,000 - an independent financial planner will advise John to retain these because they provide some inflation protection for his portfolio and tax-free capital increases, which are especially valuable to an additional taxpayer.

Making a will is something that can easily be overlooked by busy professionals but John and his wife had taken care of this, leaving everything to each other, then to their children. John would need a £1m lump sum, or a net income of £60,000 a year to provide sufficient cover in the event of his or his wife’s death. As he had taken out life cover, critical-illness cover and medical cover through his chambers, no additional protection plans were required.

John’s financial arrangements are now more aligned with his goals. His investments and pension provision are simpler, more cost effective and give him a wider choice of investments than his previous arrangements.

Ian McNally, Director Saunderson House Limited , 1 Long Lane, London EC1A 9HF Direct Dial. +44 (0) 20 7315 6513 Fax. +44 (0) 20 7315 6650 ian.mcnally@saunderson-house.co.uk www.saunderson-house.co.uk the barrister | Lifestyle supplement

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Luxury in the Balkans

By Sarah Collins

Once described as ‘the most beautiful encounter between land and sea’ by Lord Byron, Montenegro has remained an undiscovered gem for a number of years. Now the lid is finally being lifted on Europe’s best-kept secret as it enters the luxury real estate and lifestyle arena, catching the eye of potential investors looking to capitalise on the country’s relative anonymity and enviable way of life.

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Hidden within Montenegro’s mountainous terrain lies Luštica Bay, a vast plot of land under development just ten minutes from the airport of Tivat. Although in its early stages, the package Luštica Bay will deliver is well worth waiting for and promises to enhance the country’s blossoming tourism market and maturing infrastructure. The bespoke destination will herald two state-ofthe-art marinas, collection of carefully selected hotels, elegant shops and restaurants and a range of locally inspired townhomes, apartments and villas. It is also the chosen location for the country’s first 18-hole golf course designed by Gary Player, attesting to its long term public vision and coveted location.

What makes Luštica Bay different to the rest of the country’s current real estate offerings is its unique positioning. Residences at Luštica Bay will face the sea with wide outdoor terraces taking advantage of panoramic views and lending themselves to alfresco entertaining throughout the day and night. The architecture meanwhile, pays homage to the rich culture of the surrounding landscape using indigenous materials and colour palettes across all designs. Modeled on the architecture of the nearby, picturesque village of Perast each home will emulate the region’s existing architecture whilst providing an authentic, yet modern real estate offering.

Owning a home at Luštica Bay does not carry the same price tag as some destinations in Europe – starting at €3,500 per square metre those who are wishing to invest in a Mediterranean home, but keen to venture into lesser known areas, need look no further.

Often remembered for its turbulent history, the Balkans and

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Montenegro in particular is welcoming a new era of prosperity.

According to predictions from the World Travel and Tourism Council, the average annual rate of growth in Travel & Tourism investment for the country between 2011 and 2021 will be higher than any other country in the world. It is no wonder then that awareness of Montenegro is increasing amongst discerning travellers with an average 1.2 million international tourists visiting every year. As such, esteemed tour operators such as Abercrombie & Kent, Original Travel and Black Tomato have quickly followed and now offer bespoke and tailored packages to the country. Due to the region’s typically Mediterranean weather, the best and warmest months to visit are from April – September. However it’s mountainous interior also provides possibilities for skiing between late November and early April.

Owners will be able to capitalize on the country’s emerging popularity by renting out their property during some of Montenegro’s busiest months. Whether it be their apartment, townhouse or villa, owners can expect between 5-7% rental yields.

Owners need not be rental professionalsto take advantage of this opportunity - guided by a management company, they can sit back and relax in the knowledge their overseas property is creating its own income.

If able to drag yourself away from your sea view property, Montenegro boasts a number of waterfronting towns and villages as well as picturesque islands, secret coves and charming harbours, set alongside significant historical and cultural sites. One of which is Montenegro’s most renowned ancient legend, Our Lady of the Rocks in the Bay of Kotor. Legend has it this islet and church were

formed as a result of local sailors finding an image of the Virgin Mary and Christ in the 15th century and taking an oath to lay a rock in this very spot after each successful voyage, so that a church could be built on top of these rocks. These legends have not only stood the test of time but they have also inspired writers, painters and explorers from around the globe.

Part of Montenegro’s wide appeal is its coastline. As a sailing mecca, life in Montenegro is heavily focused around the coast, with nearly 300km of coastline to explore by boat. Those who prefer to adventure by foot can discover the peace and quiet of the countryside and choose from a selection of hiking trails within the region. The Skadar Lake in particular allows for a glimpse of some of Montenegro’s colourful wildlife as the area is home to over 200 different species of birds. This vast freshwater lake and its surrounding wetlands create the ideal setting for a peaceful hike around this famous National Park, with the added highlights of traditional villages and secluded pristine beaches along the way.

In the near future Luštica Bay will have its very own ‘Lungomare’, a four-kilometre boardwalk whichwill be built around the curvature of the bay encasing the development and providing an ideal route for visitors and owners to explore all 6.8 million square metres of the project.

Perhaps if you need a break from exploring you can take a stroll down to one of Luštica Bay’s idyllic coves where you will find the Almara Beach Club. Open to the public during the summer months, the club provides visitors with a café/restaurant, bar,

chaise lounge chairs and beds. Guests can visit for a lazy day at the beach with friends and family, or spend the afternoon enjoying the live DJ entertainment on offer.

A joint initiative between Orascom Development Holding and the Government of Montenegro, the project has been developed with a truly sustainable vision in mind, designed to benefit the community for generations to come. Luštica Bay has been chosen as LEED for Homes pilot project in Europe and therefore all construction adheres to strict LEED standards and is in line with the government’s commitment to reform, prosperity and dynamic growth. In addition to a sustainable outlook, Orascom Development is committed to creating a low-density project, with only 6% of the development being built upon – guaranteeing the bay’s natural setting remains. As a leading developer of fully integrated destinations which include hotels, real estate and leisure facilities, Orascom has a proven track record with a diversified portfolio of destinations spread over nine countries – an impressive collection which demonstrates their experience as developers.

Montenegro is firmly placing itself on the map, not just as a tourist destination, but as an appealing location for a second home. Often described as “Italy fifty years ago”, those who invest in Montenegro will no doubt reap the benefits in years to come.

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The Russians are not so much coming, as well and truly arrived!

Nicola Barlow.

The opening of Novikov Restaurant & Bar in Mayfair’s Berkeley Street just over a year ago not only gave London three great new spaces in which to sate its hunger and thirst, but saw owner Arkady Novikov, the Russian restaurateur who changed the face of dining in his home nation, go international.

It was back in 2008 when Novikov, whose multimillion empire now encompasses over 50 restaurants across Moscow, first set his sights on London.

“I spent m any, many months looking for the right place,” he reveals. “I was like a fisherman, patiently waiting for three years to catch something. I nearly lost all hope and then suddenly I got a bite.”

A bite is something of an understatement. Audaciously sited opposite paparazzi favourite Nobu, Novikov Restaurant & Bar is an impressive 18,000 square feet of Mayfair real estate, a lavish temple to eating and drinking divided into three very distinctive spaces.

Accessed via the main entrance off Berkeley Street, the Asian Restaurant makes an arresting first impression with its cool granite walls and striking lacquered ebony bar-counter decorated with a jade stone belonging to Arkady Novikov himself.

The materials used here - wood, stone and leather - are all natural.

They are offset by subtle features such as a wall of cracked stone and bamboo chandeliers.

A real feature of the Asian Restaurant is its open kitchen. Fronted by an amazing display of seafood, aromatic duck and vegetables, it evokes the atmosphere of an Asian food market.

The atmosphere here is at once welcoming and relaxing, but subtle enough not to distract from the food itself.

The restaurant specialises in Chinese and Pan Asian cuisine, with a menu designed by Japanese-trained head chef Jeff Tyler. Tyler is known for his love of experimenting with different textures, flavours and ingredients, a talent that is much in evidence in dishes such as frogs’ legs with blackbean sauce and braised Belgian pork belly with spicy sweet & sour glaze. The menu also features an extensive range of sushi, dim sum and barbecued and charcoaled dishes, seared Wagyu ribeye and yuzu scented miso black cod included.

Stepping down into the Italian Restaurant and the atmosphere changes completely with diners transported into a village trattoria.

The tables each have pots of herbs while in front of the open kitchen sit baskets of olives and copper bowls overflowing with Sicilian peppers and Sorrento lemons.

Like its sibling, this is a restaurant that has both style and substance.

The southern roots of head chef Carmelo Carnevale are evident in the seasonal menu, with dishes like grilled Sicilian aubergines with olive oil and trio of smoked swordfish, eel & salmon with fennel, cherries & Sorrento lemons taking centre stage. 90% of the ingredients used here are from Italy.

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Another popular choice are the cicchetti - Italian small plates typically served in bars in Venice – and the pizzas. However, as befits one of London’s most stylish eateries, these are no ordinary pizzas. From the imposing wood-fired oven emerge works of art like the Tartufo, its medley of cow’s milk mozzarella, truffle paste, fresh truffles and spring onions destined to satisfy the most demanding of aficionados.

The final part of Novikov’s triumvirate is the Lounge Bar. This artfully decorated venue has become one of the capital’s most popular watering holes, upping the cocktail ante with an inventive collection of signature creations. Many of these are concocted with home-made syrups and purées, from the Mayfair Sour with its lemongrass-inspired Lillet Blanc to the Scuban that blends Havana Especial Rum with lapsang tea infused maple syrup.

Much more than just a place in which to sup, the Lounge Bar has also built up an enviable reputation for its edgy music offering.

Some of the world’s leading DJ talents are now lined up to host residences, among them pioneering electro maestro and all-round legend Arthur Baker.

The huge success of the entire establishment should come as little surprise to Arkady Novikov. After all, the Novikov name has been a byword for high-end dining in Moscow for many years, with a clientele that includes everyone from Vladimir Putin to Bill Clinton.

It was back in 1990 when Novikov, then working as a chef at Moscow’s Hard Rock Café, realised the huge opportunities that the early days of perestroika could offer. He determined he would sell good taste to the city’s fledgling capitalists, capitalists who by his admission “didn’t know there was a difference between Pepsi and Coke, or even in some cases how to use a knife and fork properly.”

In 1992 he got his big break. The man in charge of the cooperative where he was now working decided to expand into private business and offered Novikov a loan of $50,000 to set up a restaurant.

Confronted by the meat supply problems characteristic of the time, Novikov decided to open Sirena as Moscow’s first seafood restaurant, complete with aquarium floors. Still run today on the same principles of quality food, service, design and atmosphere on which it was founded, Sirena would lay the foundations for his empire.

Not surprisingly, Novikov’s restaurants have been enthusiastically embraced by the elite - a big class in Moscow, if not the rest of Russia. It is they who flock to venues like Cafe Galereya, the see and to be seen place in the city; Vanil with its masterful blend of Russian ingredients and European cooking techniques and Nedalny Vostok, an Asian fusion restaurant whose stylish interior was masterminded by Super Potato, the Japanese cult designers behind Zuma in London.

As far as Arkady Novikov is concerned, it appears that the Russians are not so much coming, as well and truly arrived!

Novikov Restaurant & Bar, 50 Berkeley Street, London, W1J 8HA

www.novikovrestaurant.co.uk

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A Place in the Croatian Sun

By Claire Strickett For centuries, the city-state of Dubrovnik guarded its independence fiercely – and no wonder. The ancient stone walls of the Old Town encircle streets of unparalleled beauty and elegance; the terracotta roofs shelter artistic treasures to match any in Europe; and the turquoise waters of the Adriatic provided a lucrative trade route between East and West that made Dubrovnik one of the most prosperous and cultured civilisations of the Mediterranean.

At its height, it was rivalled only by Venice in power and magnificence.

Dubrovnik’s days of independence may be long-gone – a UNESCO World Heritage Site, it’s now one of the jewels in Croatia’s crown - but everything that its citizens treasured about this stretch of ruggedly beautiful coastline remains to discover: fresh Mediterranean cuisine; a rich history and culture; crystal clear seas; brilliant, purifying light, and a quality of life that feels like a remnant of simpler times.

Sat on a hillside that slopes down to meet the Adriatic is Dubrovnik Sun Gardens, anaward-winning resort that takes the very best of this traditional Croatian lifestyle, and combines it with modern, world-class facilities. Alongside the 5-star Radisson BLU hotel and more than 200 privately-managed holiday residences, you’ll find an award-winning spa, three pools, a sports centre, and a selection of bars and restaurants.

These days, Dubrovnik Sun Gardens provides the perfect retreat

>>>

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from the strains and stresses of modern life– but today’s visitors are far from the first to seek sanctuary here. One of the first to take refuge on this coast was the Florentine statesman PieroSoderini, driven into exile by the Medici family in 1512, and who is said to have settled in the stone palazzo amidst what are now the grounds of Dubrovnik Sun Gardens. That palace still stands, a picturesque focal point among the carefully-tended mature gardens.

Built across 22 hectares in a traditional style modeled on Croatian village architecture, the feel of Dubrovnik Sun Gardens is dominated by bright, airy spaces, Mediterranean colours, and above all, spectacular views at almost every turn. The location – right on the coast, with Dubrovnik’s Old Town just 11km away – is unparalleled, and, due to strict planning regulations introduced to preserve the beauty of the coastline, is unlikely to be bettered.

Since opening in 2009, Dubrovnik Sun Gardens has already been crowned Europe’s Best Beach Resort in the World Luxury Hotel Awards 2012, while the real estate offering has been recognised on multiple occasions with Gold Awards from Overseas Property Professional, the leading industry voice in overseas property. The success of the resort is part of a wider story that has seen Croatia reemerge from its troubled recent history to become one of Europe’s most desirable holiday destinations. It’s testament to the region’s determination to re-establish a reputation based, above all, on its stunning scenery, rich culture, and a long tradition of hospitality.

With interest in this area of Europe booming, the real estate opportunities offered by the Residences at Dubrovnik Sun Gardens are a rare chance not only to secure a beautifully-designed second home in the Dalmatian sun, but to reap the benefits of the Residences’ investment potential as rental properties. Prices for one-bedroom apartments start at €184,000, with larger premium properties priced at up to €608,000. Buyers here benefit from exclusive mortgage rates offered by Erste Bank of 80% LTV and a fixed interest rate of 3.3% for the first five years of the 15-year term.

Owners can capitalize on the resort’s exceptionally high levels of occupancy throughout high season by renting out their property, and can reasonably expect rental returns of 4% after annual fees.

The resort appeals to couples, families and independent travellers alike: Croatians are a deeply family-orientated people, something which is reflected at Dubrovnik Sun Gardens. The resort’s Kids Club gives children a new place to make friends (and allows parents some precious moments of peace), with toddlers, younger children and teenagers all separately catered for. A children’s playground provides a safe place to play, while those without families will appreciate the tranquility of the adult-only pool.

It’s in part the proximity of Dubrovnik Sun Gardens to Dubrovnik itself that draws tourists from around the world, and a short hop on the resort’s own shuttle bus, limousine service or boat will take you directly to the Old Town. Here, the cobbled alleys, shady squares and bustling pavements provide the perfect place for a touch of culture, a spot of shopping, or even just people-watching on the Stradun, the limestone-paved avenue thatis the city’s focal point.

Lined with the town’s finest cafes, restaurants and boutiques, this main street provides an elegant stage for citizens and visitors alike to promenade each evening, meeting, greeting, and showing off their finest attire.

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When you need a rest from strolling the town’s busy streets, however, Dubrovnik Sun Gardens provides the ideal retreat. The resort is a private sanctuary perfect for whiling away lazy days by one of the three pools, or relaxing into the warm evenings as the sun sets over the sea, while lights begin to twinkle in the villas along the coast, and on the yachts moored for the night.

This is a landscape rich in natural bounty – you’ll notice that figs, olives, carob trees, lavender plants and vines abound. The restaurants and bars at Dubrovnik Sun Gardens draw on the richness of the surrounding land and sea to serve fresh local and international cuisine.

Croatian food is worth taking the time to discover: this is a classically Mediterranean cuisine, with seafood and grilled meats taking pride of place alongside sun-ripened vegetables, dressed with the peppery local olive oil and brightened with fresh herbs and lemon juice. A few weeks’ stay is barely time enough to fully sample all of Dubrovnik Sun Gardens’ restaurants – from the Origano and Tartufo restaurants and the Maraska Lounge & Bar for elegant dining, to the more casual eateries of the Market Place, a promenade of specialist cafes and bistros that provide a convenient pause from shopping in the adjacent boutiques. All serve fresh, locally-sourced or artisan produce, while owners of the Residences benefit further from a year-round 20% discount at all the resort’s restaurants and bars.

The natural goodness of the Adriatic coast is further harnessed by the award-winning Spa by OCCO. The winner of the SPA Traveller Awards for two years running, in 2011 and 2012, Dubrovnik Sun Gardens’ spa draws on the therapeutic properties of potent organic

local ingredients in its range of treatments and products. It’s hardly surprising that this is one of the most sought-after spas in Croatia, with twelve treatment rooms, both coal and salt saunas, a hammam, an aromatherapy steam room, and a lagoon pool, plus a refreshing juice bar. (Again, owners of the Residences benefit from a 20% discount on their treatments.) But perhaps the most restorative aspect of all is the one that truly can’t be replicated anywhere else – the unbroken views over the sparkling Adriatic Sea from the sun terrace and spa pool.

While relaxing on the terrace, you might spot a group of small, lush green islands scattered across the sea, just off the mainland. This is the Elaphite archipelago–comprising the three main islands of Koločep Lopud, Šipan, plus innumerable other islets -which lies just off the coast to the north-west of Dubrovnik. Taking their name from the Greek for ‘deer’, an animal to which they were once home, the islands’ history is closely bound up with that of Dubrovnik.

Traditionally, the Elaphite isles were home to retired captains of the Republic’s famous sea-fleet - brave sailors whose service the city-state recognised by granting the right to see out their days in this idyllic setting.

Today, fewer than 1000 people inhabit these sleepy islands, but boats depart regularly from Dubrovnik Sun Garden’s own boat transfer dock, putting them within easy reach. With their lush vegetation, olive and citrus groves, sheltered bays, tiny churches dating back to the 9th century, elegant summer residences and quaint quayside villages, exploring the Elaphite islands makes for a rewarding and relaxing excursion. Contemporary art lovers will particularly enjoy a trip to Lopud, the location of ‘The Art Pavilion Your Black Horizon’ – an acclaimed pavilion and gallery space

whose striking modernity both complements and engages with the island’s Renaissance landscape.

Exploring the coast inland is simple thanks to the facilities offered by the resort’s Sports Centre. Hire a bike or follow one of the walking or jogging trails for a workout among scenery that no gym can match. The Centre also offers a range of indoor and outdoor activities, too, from yoga to five-a-side football, tennis, squash, and a climbing wall. Combine all this with the services of expert personal trainers and professional sports coaches, and every taste is catered for, from the casual participant to those pursuing specific fitness goals.

Croatia is undergoing a remarkable process of rebirth that has swiftly established the country as one of Europe’s most desirable, yet still relatively undiscovered, destinations. Dubrovnik Sun Gardens is a symbol of all that the country stands for – elegant living, a relaxed Mediterranean lifestyle, a proud culture – and a justified confidence in the future.

For more information on the real estate and resort at Dubrovnik Sun Gardens, visit www.dubrovniksungardens.com or call +385 (0) 20 361 650.

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•Teaching by specialist subject teachers from age 7 • Large, well equipped sports hall, plus located opposite Victoria Park • Children typically go on to: City of London Girls’, City of London Boys’, Highgate, Bancroft’s, Bedales • Gatehouse pupils regularly achieve scholarships to City of London Boys and Girls, Highgate, Bancroft’s and Forest Sewardstone Road, Victoria Park, London E2 9JG 020 8980 2978 Web: www.gatehouseschool.co.uk admin@gatehouseschool.co.uk

Independent Day School for Girls from 4 -18 years Queens’ Gate School offers girls a friendly, supportive environment, where individuality is nurtured, academic standards are high and where a broad based curriculum ensures a well rounded education.

For a prospectus, or to make a private visit to the School, please contact the Registrar Miss Janette Micklewright, on 020 7594 4982 or email, registrar@queensgate.org.uk Queen’s Gate Junior School 125-126 Queen’s Gate London SW7 5LJ

Queen’s Gate Senior School 131-133 Queen’s Gate London SW7 5LE

www.queensgate.org.uk

independent Schools

The Royal Masonic School for Girls...

independent Schools

Success on the Court

For a life in the Law

Located in the heart of the city, we offer boys an outward-looking, forward-thinking education that prepares them for life.

Academic, Music and Sport scholarships are available at 11+, 13+ and 16+.

Please contact the school for more information or to book a place at an Open Afternoon.

A co-educational, Roman Catholic day school for 3 to 18 year olds.

Junior School: 01932 839400 • College: 01932 839300 A Registered Educational Charity No.1017853 www.stgeorgesweybridge.com A Registered Educational Charity No.1017853

 020 7489 0291  admissions@clsb.org.uk www.clsb.org.uk

Open Morning

Saturday, 9th March & Saturday, 11th May 2013, 10.00am

The Headmaster will address visitors at 10.15am. Tours of the School will begin at 10.30am.

Tonbridge School: Day & Boarding; Boys 13 – 18.

High Street, Tonbridge, Kent TN9 1JP www.tonbridge-school.co.uk

Mount Kilimanjaro Trek 7-17 February 2014

Trek to the summit of the world’s highest free-standing mountain and raise funds for the charity of your choice For more information and to register online:

www.actionforcharity.co.uk 01590 646410 | events@dreamchallenges.co.uk

E VERYTHING

YOU NEED TO KNOW ABOUT I NVESTING IN R ARE S TAMPS Diversification is vital to protect wealth in the new fragile economy that has emerged from the worldwide financial collapse over the past few years.

There are still few investors or financial advisors who have identified the benefits of diversification into alternative tangible asset investments. That is why, time and time again throughout history, financial wealth is destroyed when there is a stock market or house price crash, as most investors are overexposed in these areas.

Historically, during times of rising inflation, rare stamps have performed very well and because of this an increasing number of seasoned investors are placing money into tangible heritage assets.

Rare stamps have proven to be a very stable, noncorrelating asset class, largely immune to external economic factors. This stability can largely be attributed to the obsessive passion from collectors pushing the prices up – not the fear, greed and speculation that generally drive investment markets.

Over the last 100 years, according to an independent academic study (Dimson and Spanjaers, 2009) the whole market for British stamps has risen in value by over 5% a year (or 2.9% after inflation) – and this is the totality of GB stamps, not investment grade stamps which would have performed considerably better. To make an interesting comparison, in that period gold has only increased by 0.7% per annum in real terms.

The Stanley Gibbons GB30 Index* – which tracks the performance of thirty of the rarest British stamps – has shown an average annual compound return of 10.8% since inception at 31 December 1998; Over the past 5 years, as financial and stock markets tumbled, the GB30 Rarities Index rose by 68.3%. The Company’s Commonwealth Rarities Index also reported a compound increase of 168.8% equivalent to an

annual increase of 8.6% between 1998 and 2011.

“Performance like this during a time when most investments went down in value shows just how useful rare stamps can be as a means of wealth diversification; The key is that rare stamps are an asset class not correlated with traditional investments” said Stanley Gibbons Global Investment Director, Keith Heddle. “It is important that investors recognise the importance of diversification to spread their risk and increase their security.”

Condition, rarity and desirability are crucial in determining the potential financial returns of rare stamps therefore it is vital as a potential investor to find an expert you can trust to recommend investment grade material.

As the world’s oldest stamp dealer and holder of the Royal Warrant, Stanley Gibbons stamp experts are ideally placed to aid investors in the selection of the highest grade investment material.

“Stanley Gibbons only buys and sells material that we verify and authenticate and fundamentally, that we would want to buy ourselves and we are the only philatelic business that offers you a full lifetime guarantee of authenticity on all purchases.” * Stanley Gibbons Indices listed on Bloomberg include: Great Britain 30 Rarities Index (STGIGB30), Commonwealth 30 Rarities Index (STGICO30), and GB 250 Rarities Index (STGIGB25)

To find out more about spreading risk and increasing portfolio security through rare stamps contact Stanley Gibbons Investment Department to arrange a free, no obligation personal consultation: Call 0845 026 7170 (UK) or +44 1534 766 711 (Int.) or email us on investment@stanleygibbons.com.

Profit From Rare Stamps 216% growth in the last 10 years

â€

133%

243% Growth

Growth

in the last 10 years

CIP 1897 SG 85 Empress Dowager, 24ca pale rose-red, 30c surch

GB SG2 1840 1d Black

in the last 6 years

To combat low yields, market volatility and inflation, many investors are turning to tangible, heritage assets like rare stamps.

Uncorrelated with other mainstream assets, investment-grade stamps have a long,

strong, historical record of growth that can help you diversify your portfolio. The Bloomberg listed GB250 Rarities Index shows this clearly with average compound growth of 13.86% over the last 10 years.

Call us on 0845 026 7170 (UK) or 00 44 1534 766 711 (Int) or visit us on www.stanleygibbons.com/BARAD for your free guide †216%

growth in the last 10 years, as per the Bloomberg-listed GB30 Rarities Index (STGIGB30). The value of your investments can go down as well as up. Please note: stamps and certain other collectibles are not designated investments for the purposes of the Financial Services Markets Act 2000 (Regulated Activities) Order 2001 and as such are not subject to regulation the Financial Services Authority. We cannot provide advice on personal stamp valuations. the barrister | Lifestyle supplement

xx

Your Heart in Your Hands When you lead a busy life, sometimes the hardest thing to admit is a problem with your health.

If you’ve recently experienced central chest pain, a dull pain or heavy feeling maybe even a mild discomfort in your chest. Don’t push these matters of the heart to the bottom of your priorities.

Maybe it’s time to visit your GP The Wellington Hospital has an international reputation for excellence in cardiac care, offering a full range of Outpatient Cardiac Testing, Daycase and Inpatients Cardiac Care.

Think about your heart this month 0203 411 6556

www.thewellingtonhospital.com