Kensington, ENGLAND This seven-storey terraced house features five bedrooms each with en-suite bathrooms, champagne-coloured silk carpets, tv, telephone and Crestron touch panel. The living room has two large shatter-proof glass light wells, a bio fuel fireplace and a 63" HD 3D TV. The property also features a Poggenpohl kitchen, laundry room, wine room and an extensive security system with vault, panic rooms, bullet-proof front doors and windows and shatter-proof windows throughout. The leisure facilities include a media room equipped with home cinema, swimming pool, integrated dance floor, jacuzzi, glass sauna, steam room and gymnasium. Throughout the property there are also 24 independent hi-spec stereo audio zones, 10 high definition TVs and a Kaleidescape multimedia system. The property also benefits from a double garage with stacking for two cars and an electronically-operated sliding door. Guide Price:
T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
Welcome to the fourth issue of Chartwell Magazine – showcasing our exclusive range of services, business articles and the ultimate in luxury living. In this issue, we showcase Pal Zileri's menswear collection, have an exclusive interview with ex-dragon and entrepreneur James Caan, review the future of the property market worldwide and find out why space travel is no longer the final frontier. We challenge the traditional opinions of the Playboy Club and find out how the UK's March budget has affected property investment and pensions. We review and interview legendary celebrity photographer Alistair Morrison and find out about his latest exhibition in association with Chartwell Estates and Linley Furniture.We take a trip to La Mamounia where Winston Churchill once stayed and review the myth that is Banksy. With the ongoing interest in luxury properties, we have a selection of some of the finest homes worldwide and find out why protecting those important to you can still be undertaken in style with our exclusive Land Rover feature. We also have an exciting competition and introduce our new events columnist... We hope you find the magazine a rewarding read.
Andrew Butler CEO
Victoria Sheppard Editor
Chartwell Estates Office 49 Berkeley Square London W1J 5AZ T: +44 (0) 207 409 0533 E: email@example.com W: www.chartwellestates.co.uk
Chartwell Monaco Office Le Mirabel 4 Avenue des Citronniers MC 98000, Monaco T: +377 97 97 56 67 E: firstname.lastname@example.org W: www.chartwell.mc
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Protection without compromise
Don’t get pounced on
The Prince Albert II of Monaco Foundation
The Brazilian Real Estate Market
Backes & Strauss
2012 – The Year of Linley
Western debt culture plays into Eastern hands
International Property Market Review
Shell Belle Couture
Chartwell Country Estates Division
Playboy Club London
Fluffy's Social Calendar / Competition
Experience the unhotel
Pensions, property & tax – a paradise found?
With special thanks to Nicholas Andrew, James Caan, Lucy Naylor, Nic Wing, Michelle Blenkinsopp, Louise Potter, Richard McCreery, Christopher Marriott, Jo Sefton, Lou Lou Graham, Rebecca Orde, Alistair Morrison, Sara Malocco, Madeleine Ito, Rosario Virgara, Dina Skripnicenko, Robert Greenwood, Giles Watson, Alan Wilson and Estelle Wilson.
La Mamounia Whisked straight from Marrakech airport in a chauffeur-driven La Mamounia Jaguar, the in-car televisions are awakened. During the 15-minute journey to the hotel, tempting images of La Mamounia and the local area are played along to traditional Moroccan music. However, it is difficult to take this in whilst catching glimpses of camels, horse drawn carriages, traditional architecture and earth tones that are stealing my attention out of the window. Upon drawing up to La Mamounia, I think I know what to expect and I am wondering if La Mamounia still has the magical charm that my grandparents remember from over 50-years-ago. It was only in February this year that a stunning black and white film emerged, showing Winston Churchill clutching my grandfather's arm, steadying him to walk down the very steps, up which I was about to walk. My grandparents stayed at La Mamounia for six-weeks in the 50s as the private medical staff of Winston Churchill, and this trip was taken with a great amount of sentiment, and words of wisdom from Grandma: “You will be woken up in the early hours by the prayer calls.” She was right, and it was a unique experience I will always remember. The exterior has changed slightly, though the beauty and authenticity is still there. The doors fling open in an orchestrated manner by the traditionally-dressed doormen along with several ‘welcomes’ from staff. Once inside, you are greeted by the scent of orange-blossom, which lingers throughout the hotel. The interior is breathtaking – there is almost too much to look at! Great care was put into every aspect of the hotel for its 2009 re-opening from the art to the sumptuous sofas. I already know that I won't want to leave. Go up to the Churchill suite, one of the largest suites in La Mamounia, which includes two living rooms, two bathrooms and additional wc, two dressing rooms and one master bedroom. The suite is an homage to Churchill with ‘Winston Churchill’ written above the bed, a limited edition Churchill statue, a painting, rich reds and dark woods and, of course, the view of La Mamounia Gardens and the distant Atlas mountains that Churchill loved to paint. Downstairs there is even a Churchill bar. There is so much to do within the hotel resort. There are four restaurants, including a pool-side restaurant, an Italian, French and traditional Moroccan – two of which are fronted by double Michelin-starred chefs. The food is sensational – full of flavour, interesting and most importantly, delicious. For something unexpected, try the Moroccan salad to start with – it comes with 16 miniature bowls of salads and a tajine! The spa cannot be missed – it is regularly voted amongst the best in the world. There are two heated pools (1 indoors and
1 outdoors), a fitness pavilion – which overlooks the gardens – table tennis and tennis courts. On site there is an array of boutiques including Gucci and Dior, just in case you are stuck for an outfit for dinner. Moving outside of the hotel you are stepping away from luxury and deeper into a cultural experience. The souks and Medina are a five-minute walk from La Mamounia. They are a maze of activity and it is advisable to take a guide until you are more familiar with the surroundings. Be prepared to come back laden with a few shopping bags. Lanterns, teapots, leather and spices are favourites with the
tourists – which purchases can be picked up for very low prices, you just have to be prepared to haggle, which is all part of the buying experience. Don’t forget to watch where you are walking – there are still snake charmers in the square and also monkeys. Do bear in mind that if you take photos, locals may expect money. Also on the ‘must-visit’ list is Gardens Majorelle, a vibrant peace-haven in the middle of a busy town which was brought back to life in 1980 by Yves Saint Laurent. The El Badi Palace is full of history – look out for the storks on the roof, and if you are in town for a while, a four-hour drive will take you to the Atlas Mountains. Alternatively, there are 4x4 trips to the desert, where you can camp for a night or two. Visiting La Mamounia is a must for anyone looking for a burst of culture with the familiarity of luxury surroundings. There are plenty of reasons why Sir Winston Churchill once said that Marrakech is “the loveliest spot in the whole world”. Room rates at La Mamounia start from 6,000 MAD (£456) in a Hivernage Classic Room, per room per night. Staying in the Churchill Suite starts from 27,000 MAD (£2,038). Both rates exclude the daily tax of 50 MAD (£4). firstname.lastname@example.org 00212 524 388 600 www.mamounia.com
Memorabilia treasured since the 1950s
Globally regarded as one of the most desirable hotels in the world, La Mamounia features four restaurants directed by Executive Chef Fabrice Lasnon, and two Michelin Star chefs Alfonso laccarino and Jean-Pierre Vigato consult at Lâ€™Italien and Le Francais. Le Marocain, located within the hotelâ€™s gardens, offers a unique taste of traditional gastronomy and design. There are also five bars plus a Salon de ThĂŠ. A 27,000 sq foot La Mamounia spa provides a traditional Moroccan hammam plus two private hammams; a state-of-the-art fitness centre; tennis courts and indoor and outdoor swimming pools.
Protection without compromise Armoured Vehicles from Jaguar Cars Limited and Land Rover
Armoured vehicles come in many shapes and sizes, and with many levels of protection. Jaguar Cars Limited and Land Rover’s (‘J aguar Land Rover’) armoured range has been designed to mirror as closely as possible the standard models, providing ultimate discretion. However, although the occupants appear to be travelling in a standard vehicle, they are protected by armour that gives protection equal to or better than that offered by any competitor. Once upon a time armoured vehicles were used solely by those whose very lives depended on them or who were at threat of constant attack. The Armed Forces, royalty, political figures and well-known celebrities all relied on the protection of armoured vehicles. However, in changing times and with the increase in the need for personal security, armoured vehicles are becoming a more popular choice for the wealthy as well as those in the public eye or in conflict situations. However, for many there has been the misconception that an armoured vehicle provided a clear sacrifice, in that it could not possibly offer the same style and performance of its rivals in the luxury car market. Jaguar Land Rover’s range of armoured vehicle solutions dispel this theory, covering a spectrum of requirements difficult to match by any other original equipment manufacturer. Jaguar Land Rover’s armoured vehicle range comprises four models: the XJ Sentinel, Range Rover,
Discovery and Defender. In their standard ‘soft-skinned’ versions each has forged an enviable reputation for style, performance, refinement and reliability. Other OEMs may have luxury vehicles, or SUVs, or full off-roaders, but only Jaguar Land Rover has the expertise in all these areas to offer a seamless range of armoured vehicle solutions to match any requirement. This range of vehicles has been created through an exhaustive and extensive development process – offering levels of protection equal to or exceeding those of the competition. However, despite the fact that they are fully tested and certificated to internationally-recognised standards, they have not compromised on the legendary comfort and driveability offered by Jaguar Land Rover’s soft-skinned vehicles, a fact that makes them virtually indistinguishable from the standard models. XJ Sentinel Leading the armoured range is the XJ Sentinel limousine. Utilising Jaguar's extensive experience in the armoured vehicle arena, the marque has produced a version of the long wheelbase XJ Portfolio. The XJ Sentinel is heavily armoured, offering certified ballistic protection. The suspension has been uprated to cater for the additional weight of the armour. The interior of the vehicle retains the standard level of luxury that provides the rear-seat occupants with a full metre of legroom, and a range of options.
One major advantage of the XJ Sentinel is that it offers an exceptional 500-kilogramme payload, more than sufficient for four occupants and their luggage, and any additional security equipment that may be required. Armoured Range Rover Based on the popular Vogue model, the Armoured Range Rover SUV is aimed at a variety of customers who require a level of rough-road capability. In terms of protection the Range Rover is certificated to B6+ level against ballistic threats, offers side protection against 15-kg TNT blasts, and underfloor protection that can withstand grenade attacks. As with the other members of the Land Rover armoured range, the Range Rover has run-flat tyres complete with warning system (where local legislation allows) and incorporates many of the advanced systems of the soft-skinned vehicle. It has a number of security options available, such as anti-tamper exhaust, opening driverâ€™s window, vision assist and intercom. An auxiliary battery is fitted to provide additional power for specialist equipment such as communications, and there are options for covert headlight flash, blue lights and sirens, and under-bonnet fire suppression. In November 2011, the Armoured Range Rover was retested to EC whole vehicle type approval (ECWVTA) and has improved GVW which creates a payload to 455kg. Armoured Discovery Land Rover is the only OEM to offer a fully certificated armoured vehicle that has off-road capability in the shape of the Armoured Discovery. Based on the Discovery SE model, this vehicle provides the same B6 levels of protection as the Range Rover. It is offered with both short and long armoured cells, the latter featuring armour that projects into the cargo bay at the rear.
the Range Rover is certificated to B6+ level against ballistic threats, offers side protection against 15-kg TNT blasts, and underfloor protection that can withstand grenade attacks
The cabin of the Discovery can be configured to meet a variety of needs, with options covering different seating options, additional power harnesses and the ability to mount special equipment. Combined with the 500-kilogramme payload available in the short-cell version and additional battery option, this versatility allows it to carry a range of support equipment, such as communications and medical kit. In the short-cell version the vehicle can be fitted with an escape hatch in the rear of the cell, allowing occupants to dismount via the tailgate. Long cell versions have integral opening doors that allow both access into the protected cell from the luggage area, and emergency egress through the tailgate should the vehicleâ€™s doors be prevented from opening as a result of attack or collision.
Armoured Defender The Armoured Defender is aimed mainly at organisations that operate in harsh environments with potential security risks. In 2011, the baseline Defender underwent a significant update, including the installation of a 2.2-litre Ford Puma diesel engine. Although the new engine is smaller than the previous 2.4-litre unit, it maintains the power and torque attributes that are key to the Defenderâ€™s industry-leading performance, as well as boosting maximum speed from 132 to 145 km/h. The new engine allows the Defender to completely comply with Euro Level 5 emission regulations for N1 class vehicles, which comes into force this year. To meet these requirements the powertrain incorporates a diesel particulate filter, with both passive and active regeneration technology, to greatly reduce soot levels. Speed limiter options are now available (at 90, 113 and 120 km/h) that can be set in the factory but removed in service at a later date â€“ if required. This facility is aimed at fleets looking to control fuel economy and promote safety. Also new are further options for trim and interior. All Jaguar Land Roverâ€™s armoured vehicles are produced to match the exact specifications of the customer. These not only include operational requirements, such as the provision of various driving options or specialised communications equipment, but also reflect local regulations and infrastructure. Armoured Sales is a separate division within the Jaguar Land Rover business, and is dedicated to identifying such details, no matter how large or small, and fully meeting such needs in a discreet manner. As well as its all-embracing range of fully tested vehicles, it brings to the table many years of experience gained in the provision of armoured vehicles to discerning customers around the world. To find out more visit www.landrover.com/armoured or www.jaguar.com/armoured or e-mail email@example.com
Following the UK’s March Budget for 2012, there are significant potential new tax issues for the UK non-resident purchaser to confront when buying UK residential property. Additional unwelcome issues now arise too for many existing UK non-resident holders of UK property, in the London property market especially, for months to come. The actual process of buying a UK property is relatively simple compared with other countries. The associated costs plus the rate of transfer and registration duty (stamp duty land tax or “SDLT”) is still less than in many countries. Whilst the UK legal system gives purchasers secure and well recorded title, their exposure to UK taxation depends on a number of variables. Failing to analyse these has always been dangerous and could lead to some costly mistakes. Amongst the points an international buyer has to consider are his or her residence and domicile position in the UK and who will occupy the property. Until now ownership has typically been directly or very frequently via a company or a trust (or both) and sometimes via a LLP, with corporate (or quasi corporate) vehicles of one sort or another being preferred – this probably now has to change. Traditionally the UK has never imposed UK capital gains tax on a UK non-resident who owns UK property. This is of course quite different for the UK resident who has always faced a CGT charge (now at 28% normally) on the sale of UK property unless it has been his or her main residence. In recent months, the UK media has focussed on this anomaly and the Budget announcements herald a fundamental change. The key to UK capital gains tax is one’s country of residence whilst for UK estate and gift tax (inheritance tax or “IHT”) the key is one’s domicile. The UK concept of domicile is different from the mainland European meaning, being permanent residence. For UK tax, domicile is more akin to a fatherland concept – the country where you have a clear physical belonging plus mental intention to make your permanent home. The UK has an attractive tax break for foreign domiciliaries living in the UK as tax residents, in that by paying £30,000 p.a. they can avoid any other UK tax on income and capital gains so long as neither is remitted directly or indirectly to the UK. The other key point about domicile is that a non UK domiciliary is not liable for UK IHT except on UK sited assets. This causes a problem where such an individual holds UK real estate in his or her own name (as there are few UK double tax treaties embracing estate tax). For this reason it became common for such individuals to hold UK real estate via UK non-resident companies. This structuring works because IHT is imposed on individuals but not corporate owners. Structures utilising companies could be arranged to avoid stamp duty on purchases. What has been proposed in the recent Budget: (i) From 22 March 2012 stamp duty to rise from 5% to 7% on UK residential property (freehold and leasehold) where the purchase price exceeds £2million (ii) From that date, 15% SDLT applies where the acquisition of UK residential property costing over £2 million is put in a “corporate envelope” i.e. this covers all companies but may extend to other vehicles too
(iii) An announcement indicating that all stamp duty avoidance will be attacked aggressively and outlawed (iv) Consultation on the introduction of an annual charge, from April 2013 on corporate vehicles holding UK residential property valued at over £2 million (v) Consultation about the introduction, from April 2013 of capital gains tax on disposals of UK residential property held by UK non resident non natural persons including all corporate structures and related ‘envelopes’. SDLT has gone up and every effort is being made to prevent avoidance. In addition, if one chooses to use a corporate structure to acquire a UK residential property there will be an upfront surcharge for so doing. No doubt initially buyers will ask sellers to share the increase on a purchase but this is likely to be shortlived. Then either prices will decline or purchase costs will rise. There will be more marked effects on the market around the £2 million point. The last two changes outlined above involve ‘consultation’. Recent such exercises by the Government re taxation matters have not been notable, in the main, for leading to substantial relaxation / alteration of the initially announced proposals. The likely timing is a further announcement, post consultation, of firm proposals in the November Autumn Statement, or at worst in next year’s Spring Budget. An annual charge on existing corporate structures is a wonderful thin-ended wedge for HM Revenue & Customs to obtain information on a range of entities and potential taxpayers about which they have known little or nothing to date. Compliance costs will be enormous and the work for valuers and the tax services industry most welcome! Of even more concern will be the proposal for CGT on sales of UK residential property from corporate vehicles which will cause accusations about retrospective taxation – leading to potential problems even should they simply be collapsed prior to a transfer to individual ownership. Here however there is room to hope that some form of a sliding scale of CGT might be accepted. For example, sales within 5-years of purchase to be taxed at 28% and for a scale to decline to a 5% rate after a 20-year holding period. This could also be coupled to an inflation-linked allowance. However, the truth remains that the landscape has changed and is unlikely to return to the pre 22 March 2012 one. Owners, advisers, agents and HMRC have to adjust to a new world and months of uncertainty and this can only be bad for all. The reasons UK non-residents want to buy UK residential property have not changed. The tax background has changed, however, and will take time to become clear. Caution is the new watchword. Nicholas Andrew is an independent Chartered Accountant and tax adviser based in central London. He has specialised for many years in residence and domicile matters for wealthy international individuals and families. He can be contacted on + 44 (0) 20 7409 7060. Disclaimer: The above is a general outline of certain highly complex areas of UK tax law. It is not specific advice on which any individual or entity should act or base planning and no liability on the author or publisher will attach or follow from it.
Perthshire, Scotland Once top of the league, now at the peak of the property ladder, former pro-footballer Jimmy Carter and Chartwell Estates are proud to introduce Jimmy's latest project – a prestigious family home on the world-renowned Gleneagles Estate – ‘Grosvenor House’. Jimmy started his football career in the early 80s at Crystal Palace, QPR and Millwall before moving on to Liverpool, Arsenal and Portsmouth and finishing his football career back at Millwall in the 90s – a career which spanned over 15-years. Whilst Jimmy was spending every morning training on the pitch, he spent the rest of the day on building sites, and got into property developing at a young age. Over the years, Jimmy has also developed a buy-to-let property portfolio. In addition to this, he is still keeping busy in the football industry, being the first professional Asian footballer, Jimmy has just taken on an ambassadorial role with AsiaEurope, an organisation encouraging Asian footballers into the footballing profession. He is also very proud to be an ambassador for MTG United for Peace – a childrens' charity bringing hope and opportunity through the medium of football. In 2002, Jimmy made his first property move in Scotland – to a castle, a short drive away from Edinburgh, where he lived with his wife and two children, and in 2008 he purchased the Gleneagles plot, which will be Scotland's most expensive housing development. The lucky buyer won't be far from the Ryder Cup, when it is hosted at Gleneagles in 2014 and will be only a short stroll from the beautiful grounds and spa at the five star resort. 'Grosvenor House' – the 10,000 sq ft property set within a 0.7 of an acre plot, will boast; six en suite bedrooms, his and her's bathrooms and dressing rooms for the master suite, a grand hallway, a state-of-the-art kitchen featuring a 4m island, double cooker, integrated coffee machine and appliances, and bespoke designed furniture. Finishes include a natural slate roof, cast iron guttering and downpipes and traditional architectural stone detail for quoins, sills and lintels. The property also features spectacular full height Portico with detail pediment supplied by a leading bespoke team specialising in traditional homes of character and importance. Traditional hardwood sash and case thermal double-glazed windows with security glass are included throughout alongside a feature turning staircase in Carrara white marble. The new owners will also receive two-years' free golf membership at Gleneagles for two people as well as a year's free family membership to 'The Club' which includes access to a variety of leisure facilities including two pools, a gym, sauna, steam room and spa. For more information please contact Chartwell Estates – sole agent – 0207 409 0533
T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
Prince Albert II of Monaco Foundation In 1906, Prince Albert I, a pioneer in oceanography, explored the unknown regions of Spitsbergen. In harsh weather conditions, the Prince and scientists aboard his vessel made an inventory of marine life and took meteorological readings and photographs in order to study the movements of the sea ice and glaciers. A hundred years later, in 2006, Prince Albert II of Monaco – his great-great-grandson, visited the Arctic, reaching the North Pole on 16 April so that he could assess the effects of global warming on the weakening ice. Following this expedition, the Prince decided to create a foundation dedicated to environmental protection. The Foundation strives to act as an accelerator of projects and solutions for the environment. It promotes sustainable and equitable management of natural resources and places the individual at the centre of its projects. It encourages the implementation of innovative and ethical solutions in three main areas: climate change, biodiversity and water. The Prince Albert II of Monaco Foundation is intent on acquiring the means necessary to play a major role in the protection of the environment on a global scale. The Foundation sets up and collaborates with networks of researchers, companies and individuals willing to work together towards one common goal, supporting and developing the initiatives of public and private organisations and companies, in the fields of research and studies, technological innovation and socially-aware practices. The Foundation has set itself three specific goals: • To form partnerships in order to conduct projects in its priority areas for action. • To raise awareness of the impact of human activities on the natural environment in order to encourage more environmentally friendly behaviours. • To promote outstanding initiatives and innovative solutions, in particular by awarding prizes and grants. Two important initiatives that the Foundation is supporting are saving bluefin tuna and committing Monaco against deforestation. The Foundation and the WWF set up a partnership in January 2008 to take action with a view to saving the bluefin tuna from ecological extinction. Since 2008, a large number of restaurant owners in the Principality of Monaco have responded to the appeal to stop serving bluefin tuna, and thus raise awareness of the need to save this symbolic species of the Mediterranean, while there is still time. Consequently, a moratorium has been implemented in co-operation with food retailers and professionals and Monaco has become the first ‘bluefin tuna free’ country.
Rational forestry practice enables forest regeneration and generates economic value
Since then, many other countries have followed suit. Monacoâ€™s government departments, supported by the Prince Albert II of Monaco Foundation, subsequently initiated a procedure to add the bluefin tuna to Appendix I of CITES (Convention on the international trade in endangered species of wild fauna and flora). For many months, the listing, which would have resulted in the ban on international trade of this fish, has been the topic of debate in several countries. On 3 March 2010 during the Doha Conference, the Obama administration announced that it was in favour of adding the bluefin tuna to Appendix I of CITES. The European Union officially endorsed this decision on 10 March by announcing that it would vote in favour of this listing. Despite such support, the Doha Conference rejected Monaco's proposal on 18 March. However, this is the first time that a debate on the preservation of an endangered species has made the headlines of the international press. The MC2D association, with the support of the Prince Albert II of Monaco Foundation, has decided to launch a campaign, in Monaco, to promote the use of wood harvested from sustainably managed forests. This campaign is entitled â€˜Monaco makes a commitment against deforestationâ€™. Deforestation of the tropical rainforests accounts for more than 20% of greenhouse gas emissions and moreover leads to soil degradation, loss of biodiversity and the exclusion of the local populations. One of the most effective ways of combating this scourge is to give these forests an economic value through the development of sustainable management. Rational forestry practice enables forest regeneration and generates economic value for the parties concerned, foresters and the indigenous people alike. One of the concrete catalysts for change resides in the production, marketing and utilisation of certified wood under the FSC (Forest Stewardship Council) label. With this initiative, the Principality aims to set an example for the protection of the tropical rainforests and the fight against global warming. These are just two of the projects the Foundation is committed to supporting and we wish them every success in seeing global environmental change. For more information, please visit www.fpa2.com
Vandal or Artist?
The artist known as Banksy has proved to be an enigma. This modern day graffiti artist, political activist, director and painter’s work and privacy have generated column inches for the media – but about whom little is known. Despite the rumours, he has never vandalised a war memorial, painted Kate Moss’s kitchen or visited the Playboy Club with Ashley Cole wearing a skull mask. His work is, however, very collectable with a celebrity following (Brad Pitt and Angelina Jolie spent $2 million on his artwork at an exhibition in London in 2007). Banksy is perhaps the most famous, or infamous, artist alive. To some, he’s a genius and cultural commentator, to others a graffiti vandal. His work generates admiration and outrage in equal measure. His trademark stencil-style art can be found in public spaces – on walls in major cities and even on the West Bank barrier separating Israelis and Palestinians. Banksy's work is eminently collectable with his sandwich board-wearing monkey sold for £228,000. He also paints murals including a Mona
Lisa with a rocket launcher. He has inspired artists such as Massive Attack's 3D and Nick Walker, now an equally high-profile artist and designer who did backdrops for the films Eyes Wide Shut and Judge Dredd. In 2001, Banksy had his first unofficial London exhibition at which he spray-painted 12 works on to the whitewashed walls of a tunnel in Shoreditch. But it was his show Turf War, in July 2003, that put Banksy on the map. The exhibition included live pigs, a heifer sprayed with an Andy Warhol likeness and had the Queen depicted as a chimp. Predictably, it’s been rumoured that Banksy’s roots are far from working class and he has been ‘outed’ as a former public schoolboy brought up in the middle-class heartland. Bristol has long been believed to be Banksy’s home city, however, this is where the trail stops with no-one prepared or able to prove they have met this elusive artist. Banksy's true identity has always been kept secret, known to only his inner circle. There’s even the suggestion that Banksy doesn’t exist but is actually a collective of artists. However, whatever the truth – the Scarlet Pimpernel of modern art is certainly making the most of the publicity and benefiting financially from his notoriety.
Discretely nestled away in the heart of Belgravia, lies The Halkin hotel. This 5 star Hotel, is elegantly styled with sleek, yet homely fixtures and fittings, from the curved corridors, to the Portland stone, it oozes luxury. With only 41 bedrooms, The Halkin is truly boutique, whilst its facilities are endlessâ€Ś Guests can use the COMO Shambhala Urban Escape at the Metropolitan London, only an 8 minute walk from the hotel, a private gym, an award winning Thai restaurant 'nahm', a relaxing bar, private dining facilities, and concierge. The guest rooms and suites at The Halkin offer a peaceful retreat, and each room has an essential desk for its many business travellers.
The bathrooms are all unique and adorned with marble of varying neutral tones, and the rooms all carefully encased with elegant wood panels. Rising through the building, water, air, fire, earth and sky are echoed in shades of aquamarine, sand, russet, slate and blue, there is a perfect blend of Asian influence, from The Halkin's owner, Mrs Ong, and contemporary British dĂŠcor. This year sees The Halkin celebrate its 20th anniversary with a series of fantastic events which include a 'Couture Chocolate Afternoon Tea' by the renowned chocolatier William Curley, a 4 time winner of 'Britain's Best chocolatier.' September 2011 saw The Halkin unveil three new suites, each with spacious balconies overlooking the tranquil gardens.
The Halkin, Halkin Street, London SW1X 7DJ +44 (0) 20 7333 1000 www.halkin.como.bz
Brazil Overview The Brazilian real estate market is one of the bright spots in the international property panorama in 2012. Leading market commentators from Brazil-based real estate analysts to international financial media groups like Forbes Magazine and Reuters are all predicting ongoing gains in the market for the coming years. A booming economy, rapidly growing middle class and increased security are the main reasons. The Brazilian boom is due to several important underlying features: - 40 million people joined the middle class since 2003 and the middle class now comprises 50 per cent of the total Brazilian population of 190 million. They are leading a consumption boom across varied sectors, and most importantly are buying homes for the first time. - Economic stability has led to lower interest rates (which are still high by developed world standards) making housing credit accessible to more people. - Record unemployment figures of approximately 5 per cent alongside steady growth in wages. - Solid GDP growth in past years. 2010 saw Brazil grow 7.5 per cent. 2011 slowed to 3.2 per cent and 2012 will be around 3.6 per cent with ongoing uncertainty in Europe. Rio Property Focus Rio is the jewel in the crown of Brazil’s property market, out-performing other cities in recent years and will continue to soar over the next five-years. It is a tourist Mecca, the most geographically spectacular city in the world, and a playground for the rich and famous. - Site of the 2016 Olympics, which is leading to high capital in-flows and large-scale government investment in infrastructure. Major projects include a revitalisation of the historic port, where Calatrava will design the new Museum of Tomorrow, luxury residential and hotel properties going in, new Aquarium. New road links will criss-cross Rio and the city metro is being extended to Barra da Tijuca where most Olympic activities will take place. - The World Cup requires the redevelopment of the emblematic Maracana stadium and is leading to a revitalisation of that neighbourhood north of the city centre. - The favela pacification programme has removed drug traffickers from favelas in Rio, improving security in the city’s most luxurious neighbourhoods. Murder and robbery rates have dropped across the city in recent years - Some of the most significant oil finds in recent years – the Presal fields – have been made off the Brazilian coast. Between 50 and 150 billion barrels estimated taking Brazil from the 11th oil producer today to the top five by 2020. All major cities in Brazil have seen steep increases in property values in the past three-years, but most appreciation has been in Rio. - From mid 2010 to mid 2011, prices have risen 38 per cent in Rio’s coveted Zona Sul area (home to Leblon, Ipanema and Copacabana beaches). - In 2011, 26 per cent increase across Brazil. - In the last 36-months, Rio property prices have increased 128 per cent. In Rio’s most sought-after suburbs current average prices per square metre are;: - Ipanema R$12,000 to 15,000 - Leblon R$13,000 to $17,000 - Copacabana R$9,500 It is important to note that premium real estate – principally beachfront penthouses in Ipanema and Leblon – is fetching as much as R$60,000 per square metre. Overseas buyers are mainly from the UK, US, France, Germany, Italy, Scandinavia, as well as emerging markets like China and Angola.
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Rio de janeiro, Brazil This unrivalled duplex penthouse located on the most exclusive part of the Ipanema beachfront boasts ocean views from every room. This exquisite residence has an extraordinarily large open plan living space on the lower floor along with four large rooms, each with en-suite, and a state-of-the-art kitchen with maid's quarters to sleep two full time staff. On the upper floor, an infinity edge swimming pool drops off to the best part of Ipanema beach below. Also located on the top floor is a sauna and large living area with breathtaking views stretching from Arpoador to the Two Brother mountains at the end of the Leblon. Guide Price:
Penthouse MIRAMAR Rio de janeiro, Brazil
This stunning three-bedroom penthouse is beautifully presented throughout and features panoramic views of Copacabana beach. The property is entered on the eighth floor of a prestigious beachfront building into a spacious living and dining area. The kitchen is equipped with state-of-the-art integrated appliances and maidâ€™s quarters. On the second floor is a private terrace with plunge-pool, sun deck and uninterrupted sea views. There are two further bedrooms with en-suites as well as a second living area with home theatre system. Guide Price:
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Penthouse Colunas Rio de janeiro, Brazil
Architect designed, this three-bedroom triplex penthouse offers bright and luxuriously finished living spaces. Arranged on the tenth, eleventh and twelfth floors of an exclusive building in the heart of Ipanema featuring high-specification contemporary interiors, generous outside space and breathtaking panoramic views of Ipanema Beach. Comprises a contemporary kitchen, expansive open-plan living and dining areas, a luxurious master bedroom with en-suite, a second living space opening onto a deck and infinity pool and two additional bedrooms with en-suite bathrooms and a guest bathroom. Guide Price:
Rio de janeiro, Brazil This magnificent four-bedroom villa with stunning and unique views of Pedra da Gavea, Sao Conrado beach and the Two Brothers mountains is located in Joa, which is a private enclave of mansions and boutique hotels and one of Rioâ€™s most sought-after residential addresses. Spread over four levels with internal lifts, this property has exceptional views from every room and has recently been renovated by one of Rioâ€™s leading architectural firms to the highest international standards. Guide Price:
James Caan One of the UK’s most successful entrepreneurs, James Caan is a dynamic businessman and philanthropist with a wealth of experience in multiple areas of business. Although leaving school at 16 with no qualifications, James began a career in the recruitment sector and founded UK recruitment business, Alexander Mann, only a few years later. His autobiography ‘The Real Deal’ has topped various charts and remains a best-seller. As a panellist on the hit BBC TV show Dragon's Den, James invested in a diverse range of businesses and largely increased his media profile. Passionate about supporting the British entrepreneur, he has worked on a number of projects and offered extensive help and knowledge to those aspiring to follow in his footsteps. Caan specifically supports three key areas – education, equal opportunities and entrepreneurship. For many, James Caan is best known as the enigmatic dragon, however he should also be recognised as a success story. We find out what drives this self-made man…
Observe the masses and do the opposite.
What are the key motivators that have given you your desire to succeed in business? Leaving home at 16 and going against my parents' will gave me the focus that I needed to not fail. I had to make it because the alternative was returning home to say I had got it wrong, and for me, that wasn’t an option. Since backing my wife in her first business, I have developed a passion for backing people, and for me success is working with entrepreneurs to grow successful companies. It’s that thrill of meeting a passionate entrepreneur who gives you the confidence that, together, you can build a great business. Apart from your family, who has been your biggest supporter? My team – I couldn’t have come this far without the amazing people whom I have had the privilege to work with on this journey. Their support has been the backbone of my success. You have always had strong links with the recruitment business − what are the characteristics that you have that would make you the perfect candidate? I would say my ability to think outside the box is probably one of my best characteristics. Also knowing how to work with people to bring the best out in them – you’re really only as good as the people around you, so being able to have people working to their full potential is key. Attention to detail is also pretty important – I’m a perfectionist, and I pick up things that may not be that visible to others. Of all your business achievements, which one makes you the most proud? My first business achievement was backing my wife when she wanted to start her own boutique. At 21, I took a risk and invested in her, and she was the best investment I ever made. If you could change one thing in your business career, what would it be? I think putting in place a CSR policy earlier on in my business career. Looking back, it might have been an idea to weave into the business the need for social impact and to give back – not just when I sold my business and had more time, but whilst building the business. I think that business and charity should go hand in hand.
Which business product or service could you not live without? My Blackberry and iPad. If you could change one thing about this country to help businesses succeed − what would it be? It’s no surprise that 2012 is going to be another difficult year, we need to see growth in the economy, and I believe the health and performance of our small and medium-sized business sector is one of the best indicators of the UK’s long-term growth potential. The SME workforce currently accounts for nearly 60% of all private sector jobs, they make a huge contribution to creating new employment – so it’s obvious that this is one of the most important parts of the UK economy. We need to ensure that enterprise policies are less stifling to businesses and entrepreneurs so they are able to flourish. This is a fundamental factor if we are serious about strengthening our economy and increasing our prosperity. When not working, how do you relax? With my family, and in the South of France. But even then, I’m still working – I go away to get peace of mind to make those crucial decisions that when in London, I’m too preoccupied to make. Being with my family enables me to get a different perspective, sometimes one I haven’t considered. You are known for your love of sailing and the South of France? What attracted you to this area? Its proximity to London! It’s so convenient for me to just pop over there for the weekend. I’ve been going for years and it really is my second home. We have a place and a boat there, so it’s a home away from home. I love being on the boat – there’s nowhere really I’d rather be, than just anchored in the middle of the bay of Cannes. You are clearly a big believer in philanthropy, what is your motivation behind this? I believe that everything I have done, everything I have achieved in life, I can take something from that and help others – be it capital, business expertise, contacts, networks, marketing. It’s so much more rewarding when you see your skills helping the wider community, helping people in need, giving those who never thought of a brighter future, the ability to hope again. It’s just the most exhilarating experience to know that you can really make a difference.
What was the most difficult section to write in ‘The Real Deal’? Reliving your life when writing your autobiography is a fascinating experience and a really emotional journey. I think the toughest part was reliving the part when my father passed away. My father has been the most inspiring man in my life, and losing him was one of the most challenging things I had to deal with. If you could go back and give your ‘younger self’ one piece of advice − what would it be? Observe the masses and do the opposite. Which other business person (alive or dead) do you most admire and why? Steve Jobs for his out of the box thinking, his ability to take an existing product – the computer, and just make it better, faster, prettier! His vision for Apple was revolutionary, and his passion for his subject was infectious. I also admire Bill Gates and Richard Branson for how they use their business heads to do more through their philanthropy. If you could have your time again in the Dragon’s Den, which person or product do you wish you’d invested in? Trunki – it’s done so well! Everytime I travel, I always see a little child with their trunki – but I’m so pleased for them getting so far without us!
What made you choose to support Cancer Research UK and how can other people get behind you to support it as well? The Catalyst Club is an amazing new initiative for Cancer Research UK – and one that really interested me. I have always been fascinated by cancer, and how it’s the biggest challenge for the modern world. We all know of someone who has had cancer and what the Catalyst Club is funding is the ability to give every individual personalised medicine for their particular cancer. Cancer isn’t a one-size fits all problem, but at the moment, that’s how its being treated. Giving people the chance at getting the right treatment for their own tumour is something that I think is worth investing in. I see every cause I support as an investment – and every investment has a return. Surely investing in better treatment for cancer patients has immeasurable returns, not just for our generation, but for future generations to come. It’s really an initiative for people who want to be part of a game-changing initiative and contribute to one of the biggest steps forward in cancer research. Cancer Research UK’s Catalyst Club is a pioneering venture to raise £10 million to propel forward the use of personalised medicine for people with cancer. To be part of this change, visit www.cancerresearchuk.org/thecatalystclub or call 020 3469 5486.
The Piccadilly Red Rose 271 ideal cut round brilliant diamonds, 7.70cts 12 bespoke rubies, 0.48cts hand set in 18kt rose gold
The Regent Blue Velvet 395 ideal cut round brilliant diamonds weighing 7.48 cts 12 bespoke sapphires, 0.74cts hand set in 18kt white gold
113A Jermyn Street, Mayfair, London, SW1Y 6HJ For details of our worldwide retailers and stocklists, please visit
Time to meet the Masters As Masters of diamonds since 1789, Backes & Strauss – the world’s oldest diamond company – launched an exclusive luxury watch brand. Renowned for quality and craftsmanship, only the best diamonds are used.
Reflecting Backes & Strauss London provenance, the design team created The Berkeley, The Piccadilly and The Regent. Crafted in either 18 carat white or rose gold and elegantly set with diamonds, these watches are inspired by London’s Regency architecture, notably the work of John Nash. The Blue Velvet and The Red Rose celebrate this era, influenced by Carlton House – the palatial London town house of the Prince Regent from 1783. These sumptuous masterpieces are available as both Regent and Piccadilly and produced in limited numbers. The Beau Brummell timepiece, named after the English wit greatly admired for his fastidious appearance and confident manner, comprises 347 Ideal Cut diamonds weighing 5.15 carats, hand set into an elegant titanium case. The dial of diamonds, one row perfectly placed in blue surrounding diamond Roman numerals on a linear base.
The Victoria Blue Heart
The Regent Fancy
The Regent Blue Velvet 4452 and The Piccadilly Red Rose
The Victoria Collection
The Victoria Collection is inspired by Backes & Strauss 19th century designs from the company’s archive collection, the Victorian era, given a fresh and novel twist by the design team. The quartet, Rose, Jonquil, Snowdrop and Sunflower, of stunning interlocking heart timepieces are crafted in 18 carat white or rose gold and hand set with white and natural fancy diamonds surrounding a Mother of Pearl dial. The Victoria Blue Heart watch, created and crafted in white gold with white diamonds and blue sapphires was launched in January 2012 to directly benefit and highlight the work of The United Nations Blue Heart Campaign against Human Trafficking.
The Regent Fancy in 18 carat white gold, hand set with 365 of the finest natural fancy vivid yellow brilliant round diamonds weighing 3.93 carats. Naturally fancy vivid yellow diamonds are also known as the Canary yellow diamonds, recognised because of their strong colour and unusual characteristics. With over two hundred years of experience, Backes & Strauss know diamonds better than anyone else. They have perfected the art of ‘ideal cut’, which shapes a diamond for perfect symmetry and proportions, where all the light that enters the stone refracts internally from 57 precisely placed facets and disperses through the top of the diamond, resulting in maximum fire and brilliance.
2012 – The year of
Arriving in 2012 with contemporary new livery, a new influential shareholder and a refurbished state-of-the-art store positioned on Pimlico Road in Belgravia, this is set to be a very promising year for LINLEY. LINLEY was founded in 1985 by David Linley, son of Princess Margaret and Lord Snowdon, though this was no hare-brained business start up. LINLEY was David’s way of combining years of education and passion for fine furniture, and turning it into a treasured British brand. David’s creative side blossomed at an early age: “I was lucky enough to grow up surrounded by beautiful things. Instead of taking these for granted, I wanted to find out more about the making process, whether a vase, a car, a sculpture or indeed a piece of furniture. “When I was a small boy, my grandmother challenged me to find a secret drawer in a bureau which she treasured. I still remember the exhilaration when I eventually found it. I couldn’t understand how it was possible to conceal something so cleverly, so resolved to find out how. This was really when my interest in wood-working began.” Unsurprisingly, many of Linley’s designs still feature hidden drawers, though it’s not without a challenge – secret drawers are one of the most challenging features to include in a piece of furniture. A feat of engineering as much as woodworking, the complexity of the mechanisms of a secret drawer – whether push catch, a spring release or a secret recess – tests even the most talented of craftsmen and adds an element of surprise and romance to a piece. David was actively encouraged by his parents to follow his interests and attended Bedales School, an alternative school which emphasises arts and crafts. It was at Bedales that he developed a keen interest in wood-work, something which he later specialised in at Parnham College. The company projects an idiosyncratic modern British luxury infused with David’s particular insight into the unique British sensibility lending the brand authority and distinction. LINLEY pieces have longevity, their quality of construction and on-going stylistic relevance making them future classics. Sir Roy Strong, director at V & A Museum, quoted: “David Linley’s furniture will become the antiques of the future upon opening the first LINLEY store in 1985.” All LINLEY furniture is made in the UK using the most sophisticated techniques of craftsmanship, in workshops carefully selected by Linley. The level of intricacy and detail involved means that each unique piece can take months to make. LINLEY has expanded over the years, from opening a second store in Mayfair in 2005, to launching a gift and accessories collection in Harrods in 2010, not to mention the collaborations with some of the most highly respected brands in the luxury industry including: Hunters and Frankau, cigar importers, renowned chef Tom Aiken’s, Lalique, The Antique Wine Company, Crème de la Mer and most recently LINLEY for Bentley, which featured 10 stunning limited edition Continental Flying Spurs. The project was five-years in the making and sold out before the launch. The car was nothing less than exceptional and even featured a humidor in the rear centre arm-rest. The limited edition models incorporate signature LINLEY elements designed to appeal to customers who value pedigree and lineage, handcrafted quality and peerless deign. If that isn’t enough LINLEY luxe for you, there is always the LINLEY suite at Claridges. Back to 2012, and the new LINLEY shareholder – Jamie Edmiston, director of International yacht brokerage Edmiston – has openly spoken of his ambitions for LINLEY: “LINLEY craftsmanship and the quality of work is without question world class – the attention to detail and the passion that goes into each product is a clear differentiator, and the passion that David has for design and craftsmanship still rings clearly throughout the company. This quality of workmanship, combined with the provenance of the LINLEY name has ensured that the brand is extremely well respected and recognised – there is no doubt that LINLEY is one of the great British brands – however, I firmly believe there is enormous potential to grow the brand both in the UK and internationally.” www.davidlinley.com/
Western Debt culture plays into Eastern hands
For a short period in 2011 Apple became the most valuable company in the world – its stock market value eclipsing Exxon Mobil and reaching $337 billion. It may seem strange that, in a time of economic turmoil, a company selling leisure products tops this list. When citizens of Western economies are struggling under personal debts from the previous decade and government debts that threaten to impact taxpayers for generations to come, economic historians might be forgiven for seeing this as symbolic of a peak in the age of leisure and entitlement that the West takes for granted. Since the end of World War II, social policy in Europe has been geared towards providing benefits that protect people who can’t work and reducing their time at work. Today people live longer and retire earlier thanks to the generosity of state and public sector pension schemes. They get sick pay and disability benefits if they are medically unfit to work, and in France the 35-hour week is designed to stop people working too hard. This only works if it doesn’t hinder economic progress and proves financially viable. Prior to the welfare state, a person had to support themselves in retirement, through savings, working as long as possible or relying on family. In many emerging markets, the reality is harsh – with little or no social safety net. In the West, home ownership is perceived as a right, whereas in many developing countries owning a home is still something to be earned. The Western model of economic growth through
consumer spending is flawed. Recently, a huge amount of our wealth has gone on discretionary spending on luxury goods and many of these are manufactured elsewhere. Whilst we have been spending, the emerging markets have been working hard, building and producing things to sell – advancing themselves economically, just as we did during our own Industrial Revolution. Economic growth rates in countries such as India, China and Brazil are far outpacing those in Europe and the US. The West’s use of credit to purchase non-productive leisure assets has enslaved a whole nation of financially illiterate borrowers – chaining them to debt repayments for years to come, with few understanding the negative impact of borrowing. To borrow money for investment purposes is one thing but borrowing money to consume discretionary items can only make us poorer. Whilst countries like Singapore have been building ports, factories, railways and bridges to facilitate economic activity, the West has taken its wealth for granted. The growth in the financial sector in developed countries has also been potentially damaging. Gravitation towards the highest paying jobs has caused a switch from innovative industries such as engineering, pharmaceuticals, chemicals and electronics, towards a career in finance. The ability to earn huge salaries has attracted a high proportion of the most intelligent people into jobs such as hedge fund managers, corporate bankers and analysts – with many believing that our role was to innovate in financial engineering, creating magical ways to expand the money supply and to generate profit, but the sub-prime mortgage crisis was one of many to unravel. This talent-shift has reduced our ability to compete in areas crucial to economic growth. Perhaps we don’t know how to compete. At the 2011 Monaco Yacht Show there was a distinct absence of buyers and one broker was quoted as saying that he wished the Chinese would hurry up and get into yachting. This assumes that successful entrepreneurs in emerging markets will follow the trends of successful people in the West. Some of this wealth gets recycled back into Western assets, such as top end London property, but the new money is selective in its direction. Growth in emerging market demand is often touted as a panacea for multinational companiesfaced with weak Western markets but it is unlikely they will have it all their own way. A global recession would hurt the economies of many developing countries reliant on the West for exporting but this should only be temporary, whereas Europe and the US, which itself has a $15trillion debt mountain to deal with, could struggle for a generation to come. Even without Europe’s problems its future would be less optimistic, weighed down by the increasing obligation of social entitlements and a policy trajectory aimed at increasing leisure time at the expense of production.
Written by Richard McCreery, an investment advisor based in the South of France. RM Wealth Management (www.rmwm.fr) provides independent research, analysis and advice to high-net-worth and sophisticated investors.
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T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
Saint Peter’s Bay
Speightstown, St. Peter, Barbados Private beachfront residences nestled on four acres of Barbados’ west coast located just minutes from Speightstown. This piece of tropical paradise offers all the key elements that make up the classic Caribbean dream location – peaceful surroundings, swaying coconut palms, a sweeping panoramic view of the ocean, a beautiful white sand beach and crystal clear water. Guide Price:
US$2,300,000 to US$7,750,000
Moonshine Ridge Apes Hill Club St. James, Barbados
A prime elevated location within Apes Hill Club, Barbados’ newest and most prestigious sporting estate. Comprises a limited plot selection with bespoke villa designs for each. Each plot averages three quarters of an acre and enjoys a spectacular view of the ‘Platinum Coast’ to the west. Ample room for a large family house, infinity edge pool, gated driveways and landscaped gardens. Guide Price:
US$3,675,000 to US$7,750,000
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Port St. Charles Marina
#103, Speightstown, St. Peter, Barbados This spectacular, luxury, three-bedroom townhouse is located just steps away from the beach. Upstairs on the middle floor there are two identical en-suite guest bedrooms – one faces the sea and beach, the other, the lagoon. The marble bathroom has a separate shower and hot tub, large dressing rooms and vanities. All rooms have patios with views of Port St. Charles. Guide Price:
St. James, Barbados Alang Alang is considered to be one of the finest signature homes on the famous west coast of Barbados. Over 10,000 sqft of living space and designed with a distinctive Balinese influence. Alang Alang is a private and glamorous sanctuary which boasts extensive beach frontage along the island’s famed ‘Platinum Coast’. Guide Price:
For those who have travelled the world, space is the final frontier. Space travel is now a real possibility for a select few, courtesy of Virgin Galactic.
After a few days of preparing with your crew you’re suited up and raring to go. The climb to 50,000 feet is marked with quiet contemplation and eager anticipation. Then the countdown to release, a brief moment of quiet before a wave of unimaginable but controlled power surges through the craft. You are pinned back into your seat, enthralled by the howl of the rocket motor and the eye-watering acceleration, which has you traveling at almost 2,500mph – three times the speed of sound. As you hurtle through the edges of the atmosphere, the large windows show the cobalt blue sky turning to mauve and indigo and finally black. The world contained in your spaceship has completely transformed. The rocket motor has been switched off and it is quiet. The silence of space is as awe inspiring as experiencing the weightlessness of zero gravity. After a graceful mid-space somersault you find yourself at a large window and with a view that you’ve seen in countless images but which is so much more beautiful and provokes emotions that are strong but hard to define. The blue map, curving into the black distance is familiar but without the usual marked boundaries. What you are looking at is Earth. Then you’re back to your reclined seat and gravity is starting to return. The deceleration produces strong g forces, but you’re lying down easing the intensity. You feel the feathered wings of the spacecraft producing a powerful drag as the thickness of the atmosphere increases. The g forces quickly ease off and you hear the pilot announce the start of the glide home. Later that evening, sitting with your astronaut wings, you know that life will never quite be the same again. For those who have travelled the world, space is the final frontier. Space travel is now a real possibility for a select few, courtesy of Virgin Galactic. This unique, clean-tech project has the mission to transform the safety, cost and environmental impact of space access for people, scientific research and small satellites. Virgin Galactic will also act as a test-bed for new and clean technologies, such as the use of carbon composites in large aircraft, which have applications across a range of industrial sectors. Virgin Galactic’s commercial space launch system is based on the world’s first private manned spaceship, which successfully flew to space and back three times in 2004. The system radically overturns the traditional thinking behind 50-years of space launch and is cleaner, cheaper and safer by design. Virgin Galactic’s home is at Spaceport America in New Mexico. To date, fewer than 500 people have experienced space travel but, almost without exception, those that have returned to earth have had a heightened awareness of the nature and vulnerability of our planet. The three-day Virgin Galactic Experience costs US$200,000 per astronaut and includes four nights’ accommodation in New Mexico, including full board and transfers. To book your Virgin Galactic space flight, please call the accredited space agent, Roxy Voorspuy on 01488 68 9700 or send an email to firstname.lastname@example.org
Ali Mor sta ris ir on Not many celebrated portraiture photographers of the stature of Alistair Morrison start their career in the Bank of England. He was, however, a bit of a rebel, with long red hair and green suits and whilst he enjoyed his tenure it was suggested that he might not be Bank of England material. To avoid the 9-5 commute, he left after three-years to attend college and find his calling. In the early days, it was his elder brother that was the family’s photographer, so borrowing his brother’s portfolio, he managed to secure a place on a degree course at Harrow covering photography and film. His brother, however, never took his photography any further than a hobby. Three-years at college gave Alistair a real passion for street photography, particularly ‘fly on the wall’ shots that documented key moments in time. He was inspired by European and British photographers who were socially conscious and covered the ‘gritty subjects’. At the end of his course, he put on an exhibition, hosted by the National Theatre in London, where he met one of the most important figures in his career. Jane Bown worked at the Observer and having seen his exhibition she took him under her wing. It was her influence that ensured the art directors from the Sunday Telegraph and Observer came to view his work and took a chance on him. His first ever feature for the Telegraph was on minders for nightclubs and private individuals. From deciding not to run with it, it ended up being a six-page feature on the strength of his photographs.
Another important moment of his career came when he photographed the ballerina, Lynn Seymour. He made the decision to deliver personally the photographs to the magazine and John Lyth persuaded the art director
to send Alistair to Atlanta to photograph a band called The Police. After arriving in Atlanta, he met and befriended Miles Copeland. He was offered the standard photographer rights to the band but due to a delay in their gear arriving for rehearsals, Miles offered to let him stay on. He changed his flight and spent the next day getting picture after picture of the band. The magazine was awestruck and from then on he was their preferred cover photographer as well as working freelance for titles including GQ, Esquire and Vanity Fair. Alistair claims that luck featured in him photographing some of the great iconic stars of the day – including Lord Olivier, Sir John Gielgud, Betty Davis and Lauren Bacall. He credits this success to David Lewin, an established journalist who had spent the previous 40-years interviewing them. Alistair chauffeured David around and built up the trust that meant that they felt he was the right photographer to take their picture. He recognises that a key element of his work is psychology as well as photography. As a photographer he needs to knock down his subject’s barriers and gain their confidence, in order for them to trust his judgement. Alistair is proud that his work crosses the distinctive generations from the golden age of Hollywood to some of its more recent stars – Kate Winslet, Helen Mirren and Anthony Hopkins. The subjects he enjoys photographing the most are the ones most difficult to access. Anthony Hopkins was a particular favourite as he wished to reveal a compassionate side of an actor known for his role in ‘Silence of the Lambs’. He decided to photograph Anthony in a dinner jacket with a trained penguin – to highlight the fact that
his attire is known as a ‘penguin suit’. Alistair had at this point not realised that Anthony sponsored a penguin at London Zoo. His favourite image shows Anthony sat on perspex with his arm firmly around the penguin to stop the bird sliding off the seat. For Alistair, it’s about delivering the unexpected. For example, you wouldn’t expect him to be able to take shots of Kenneth Branagh fully-clothed in the shower or Emma Thompson wrapped in toilet roll, lying on the bathroom floor. This indicates the level of trust his ‘subjects’ have in him. He feels that today’s overuse of Photoshop has given a distorted image of reality and his shots capture the essence of the subject. With over eighty portraits in National Portrait Gallery, Alistair has decided to focus now on personal projects and one of his passions is his unique collection ‘Fuma Divina’. A project born out of a friend of Alistair’s who continually smoked cigars in his office with the window closed. When he dared to ask him to open the window he went on for forty five minutes talking
about his divine passion – hence the name. Trying to understand it, Alistair went to Havana during the cigar festival. He fell in love with the country and got saturated into their passion, but has never smoked a cigar. He is able to offer fifty cigar smokers the opportunity to become part of an exclusive group to be photographed smoking their cigars in their favourite places. Each participant will get a signed print of themselves and one of fifty special limited edition handmade books – containing the fifty portraits and fifty pictures of Havana. To confirm their place, there is an entrance fee of £5,000. This project focuses on capturing individuals who love cigars. Each participant can choose their limited number of the fifty books to be produced and then an arrangement will be made to undertake the photographic shoot.
To celebrate this project, the ‘Fuma Divina’ exhibition opens at the David Linley Furniture Showroom in Belgravia on Tuesday 1 May for 3-4 weeks before moving on to Monaco, Moscow and then Beirut. The exhibition will feature some of his subjects smoking their favourite cigar in their favourite place, a selection of Havana pictures and an opportunity to invite cigar smokers to view and become part of this project. To find out more, visit www.alistairmorrison.com/projects Please contact Rebecca@condnet.net if you would like to participate in the FUMA DIVINA book.
T: +44 (0) 207 409 0533 E: email@example.com W: www.chartwellestates.co.uk
north LEEDS, ENGLAND One of Leeds' most stunning homes recently-built by the present owner to his exacting standards, including the latest technology. Situated in one of the best locations in Bracken Park and one of the most exclusive residential areas, it’s within easy access to the vibrant and important business centre of Leeds, the market town of Wetherby and the spa town of Harrogate. It’s close to the A1 and a 30-minute drive to Leeds and Bradford Airport. This four/six bedroom home has been built to a contemporary style with double height windows from the main reception rooms to enjoy the uninterrupted panoramic views towards the White Horse at Kilburn. The house has leading edge technology allowing the owner to operate the audio, heating, security, cameras, gates, entrance door opening, lights, curtains and timer systems from eight in-house personalised ‘pads’ and ‘away from home’ using an online control system. Another exemplary detail is the automatic opening of internal glazed reception doors and automatic lighting. Only internal viewing will prove this to be one of Leeds most beautifully set homes.
Cornwall Terrace is situated on the south west side of The Regent’s Park, on the outer circle, overlooking parkland and conveniently located close to Marylebone High Street and London’s West End.
Behind the renowned Regency Grade 1 listed Cornwall Terrace, Paget House is a magnificent new ambassadorial residence offering exceptional lateral living spaces with delightful views into The Regent’s Park and over the boating lake.
T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
Paget House offers 8,000 sq ft of lateral living space over 5 floors, reached by a grand staircase and passenger lift for 8-10 persons. This luxurious home boasts 5 reception rooms and 6 bedroom suites. A separate mews house and garage are also included.
a v e r y r e a l w a r d r o b e − q u a l i t y d r i v en a n d g ent ly a w a r e o f t r en d s Since 1970 Pal Zileri has combined their Italian sartorial culture with a modern-day cut, paying attention to sourcing premium quality fabrics and maintaining their longstanding relationships with their customers worldwide. Formal clothing and a more casual attitude feature heavily in Pal Zileri’s Spring/ Summer 2012 collection. The colours – enhanced by the heat of summer – are light, and combine pre-washed pieces, soft treated leather, linen and suede garments. A vintage 60s touch provides the source of inspiration behind the collection and can be felt in the materials, which as well as being natural and very high quality, are treated to create a ‘lived-in’ feel; a texture which speaks style rather than fashion. All materials come exclusively from Biella – fine wools, wools mixed with linen, silk or mohair, and a very lightweight poplin fabric. The silhouette of the garments continues the trend which was unveiled in the Winter collection, with short jackets, over stitching on the reverse, less volume on the shoulders, and trousers with a rise to waist of 19/20cm. The casual looks utilise a full range of colours: denim blue and Napoli-blue are highlighted by sunflower
yellow, the grey by orange polka-dot, the brown by purple and the beige by red, yellow, orange and blue. Pal Zileri recently celebrated the launch of their newly designed concept store in Mayfair London, which reflects the Pal Zileri international customer base and the brand’s elegance and definition of quality. The store, which covers approximately 160 sq metres, is located on the ground floor of 125 New Bond St in Mayfair, London W1. Pal Zileri, 125 New Bond St, London, Mayfair, London W1S 1DY, T: 020 7493 9711 Pal Zileri, 44 Hans Crescent, London SW1X 0LZ, T: 020 7225 2999 Pal Zileri, Westfield Shopping Centre, The Village, 1st Floor, Ariel Way, London W12 7GF Harvey Nichols London, Edinburgh, Manchester, Leeds
Canary wharf, London London’s most sophisticated waterside apartments overlooking Canary Wharf. Ultra glamorous apartments supported by the widest range of world-class facilities. Guide Price:
£1,650,000 to £10,000,000
T: +44 (0) 207 409 0533 E: email@example.com W: www.chartwellestates.co.uk
International Property Market Review Three of our Chartwell property experts share their experience and knowledge to provide recommendations for current and future investments.
Michael Christian London’s property market’s appeal as a liquid and transparent investment in a stable political and fiscal environment has attracted a wave of overseas buyers since the global financial crisis and Arab Spring and this shows no signs of abating. As one overseas investor put it to us recently “London’s bricks are as valuable as gold bars at the moment”. Irish lenders and investors have been amongst the main sellers of Prime London property – all in an effort to repatriate funds and pay off debt/reinvest elsewhere. The theme continues this year as we see a wave of new Irish disposals as large loan portfolios hit the market and new opportunities arise that require funding. Despite reports of a deterioration in the performance of UK Commercial property at the start of 2012, this report focused on the country as a whole where a poor retail sector and low consumer confidence have been felt more sharply. London, however, is still proving popular in no small part due to the draw of its Prime residential market which climbed 12% in 2011, (a 40% rise above the post-credit-crunch low of Spring 2009). This popularity is driven predominantly by foreign capital, including Sovereign Funds, which is now spilling increasingly into the commercial sector too. The usual suspects (from the Middle East and Russia) are still evident but Indian, Chinese and to a lesser extent, Malaysian investors have risen to prominence. In total, overseas buyers were responsible for 35% of last year’s £33.4 billion worth of exchanges – Chartwell see this figure only going in one direction – upwards. As these investors scramble for a position at the shrinking waterhole of opportunity there is a blurring of boundaries between Prime residential and commercial, with many taking short term income with a view on a longer term play e.g., the acquisition of an office building with a view to applying for a change of use. Indeed, one of the major themes of MIPIM in Cannes this year was just such a conversion of commercial to residential.
What of the Her Majesty’s Government’s recent budget full of measures aimed at tackling “abusive avoidance”? The blurring of the lines between “evasion” and “avoidance” has now been superseded by their announcement of a retrospective taxing of any future schemes that they consider to be abusive – an apparent carte blanche to curtail all attempts at being “cute”. Couple this with the new 15% charge on the “enveloping of high value residential property” (politician speak for Special Purpose Vehicles etc.) and some may worry this is the “last orders” bell being rung for Prime London. But the immediate impact has been, rather than the pulling of contracts, a delay in exchange whilst advice is sought. The common subsequent theme observed by Chartwell is that offers are being resubmitted 7 or 15% lower (where relevant) and the deals are put back on track. It would seem even a punitive Budget cannot stop the mighty juggernaut that is Prime London property from rolling onwards – as soon as a door closes a window opens as the saying goes – expect the impact of the budget to be marginalised in due course.
The usual suspects (from the Middle East and Russia) are still evident but Indian, Chinese and to a lesser extent, Malaysian investors have risen to prominence.
Panos Koutsogiannakis ...when a man is tired of London, he is tired of life; for there is in London all that life can afford London, the hub of the world, something for everyone – man, woman, child, as well as all orientations, ethnicities and tastes. A city that stands out from the rest due to its cultural diversity, a city which maintains the centre stage for incredible energy and cultural crossroads. Many major cities globally have the ‘wow’ factor, some impress more than others in one or two areas, and yet, no other city is capable of matching London on all levels. Welcome to Chartwell’s fourth edition of the Chartwell Magazine. I am not here to tell you that London has over thirty Michelin-starred restaurants or that most museums and galleries in London are of international importance, nor am I here to tell you that world-class ballet and opera and all the major movie premieres are found in London, and last of all I am not here to tell you that worldwide fashion trends often begin in the streets of London. What I am here for is to tell you about London property. Chartwell Estates is a private office on Berkeley Square, which sees many affluent people globally on a weekly basis, assisting them in purchasing or selling that special London investment that everyone wants. Why? London’s appeal of long-term stability and capital growth, especially in our areas of expertise – Mayfair, Belgravia, Knightsbridge and Regents Park. Our discreet clientele are always asking us to either sell their beautiful homes without disturbing their busy day-to-day schedules and we do so! On the other
hand our buying clientele always ask us to find them that special property that is rare and, yes, we do that too, making both transactions smooth and seamless. The huge demands for the luxury residential real estate in London have continued to increase in 2012. The price of luxury properties in London has now grown by 2.7% in the last three-months, the highest rise over a three-month period since July last year. Annual growth has hit 11.9%, whilst property prices have increased by 42% since March 2009 in central London; making it one of the most desired cities to purchase property globally. So... London is a city that will be on show this summer with the Olympic games, a city that has something for everyone, especially in property – whether it be an investment or a special home, it will always prove to be a sound investment.
The huge demands for the luxury residential real estate in London have continued to increase in 2012.
Andrew J Butler FNAEA Without a doubt, the luxury property market worldwide is holding or increasing its value – much more than more modest homes. This is due to the global rich regarding property as a safe haven for capital preservation. Property prices in New York and London are up 25.3% and 37.2% respectively above their recession lows. However, the real headlines are in Asia with luxury homes in Hong Kong now 71.7% higher than their low point in Q4 2008, whilst Shanghai and Mumbai have seen growth of 115% and 220% respectively from their markets’ trough to peak. At Chartwell, it is our view that the prime market will continue to be less exposed to the risks in the global economy than most mainstream housing markets. Luxury homes in prime global cities will, we believe, retain their safe haven reputation, but will attract fewer speculative investors seeking a short-term gain. There are new luxury property hotspots worldwide. The historic playgrounds of the rich and famous are showing signs of increasing demand – due to demand from buyers from the super economies of the world such as China, Russia, Middle East and buyers from struggling economies taking their money out of the Eurozone. New luxury developments and refurbishments of existing global ‘trophy properties’ are setting new standards. Ski chalets in Courcheval , penthouses
in New York, magnificent villas in Barbados and South of France, castles in Scotland, Parisian city mansions and vineyard estates are all in demand. Chartwell International has seen an increased demand for opulent properties around the world including Zanzibar within Mainland Africa, Thailand, Barbados and New York as well as the traditional demand for the South of France and Monaco. We offer two quality services within our International department – sales and acquisition. Chartwell is approached to sell individual properties and ultra-luxury developments because of our high quality magazine which is distributed to exclusive venues and our extensive high-net-worth client base. We also come highly recommended and are retained by buyers who look to us to find the perfect international property for them. We have contacts and connections worldwide, which help us to find the most suitable properties for our buyers – many of which are never seen on the open market and can’t be found without our connections. We also work very closely with high-end professionals – offering their services in finance, legal advice and currency conversion . Whether you have a luxury prime property to sell or you wish to purchase one, our experienced and discreet team at Chartwell International can offer you a free consultation to find out your needs, requirements and how we can help you.
T h e L a r g est O r g a n i s a t i on o f L u x u r y L i v i n g
I Group Residential Project 2012 Recently I Group collaborated with Provest Co ltd and Zaid and Zeina Shuhaiber. One of the latest projects that they have been working on is The Lodge which is situated in Chesterfield Hill, Mayfair. The Lodge was built in Mayfair â€“ the most exclusive and luxurious area in London in 1950. This was named after the annual May Fair and is traditionally bordered by Hyde Park, Oxford Street and Regent Street. With a listed faĂ§ade, The Lodge is one of the most exclusive buildings in the Mayfair area. The bespoke interior of this property has been produced by the most accomplished Italian manufacturers, selected by Osama Shuhaiber and the I Group teams.
1 2 A Cha rterhous e S qua re, London E C 1M 6AX
I Group Team Partnership A leading management and construction consultancy company, FEBC has over 20-years experience of extensive project management in hotels, resorts, commercial, high-end residential, education and health projects across a wide range of market sectors operating in Europe, USA, Asia, Middle East and the Caribbean. FEBC provides the client with support from the initial feasibility study to the final account and handover of the facility. The Company takes pride in offering a tailored and personal service to ensure that the client’s needs and requirements are achieved and that the service is in accordance with the client’s structure and procedures. FEBC strongly believes in the development and progressive future of the Middle East region.
The Company entered the Middle East in 1995 and set up FEBC Emirates Ltd in the UAE as a regional office to carry out projects throughout the region. The Company is currently working on major schemes in the UAE, Oman, Jordan and Libya. FE BC’s added value to the client is enhanced through the integration of the services offered: Project Management, Quantity Surveying, Cost Management, Contract Administration, Tender, Construction, Concept Design, Scheme Design, Detailed Design, FFE and OSE Procurement, Planning and Scheduling. This will provide the client with clear transparent support and direction throughout the construction lifecycle. FEBC prides itself in providing a first-class service in collaboration with I Group and is an active member of the Association of Project Managers (APM).
Tel./ Fa x + 4 4 (0 ) 2 07 2 5 1 8 9 0 9
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Undressed to impress Shell Belle Couture was created from a passion for vintage lingerie and the desire for an endless summer. The creator, Michelle Blenkinsopp, renowned for her attention to detail and nostalgic approach to design, combined her knowledge, experience and devotion to lingerie to create a truly exquisite collection of swimwear, slip dresses and lingerie – intricately feminine pieces that will carry you elegantly from beach to boudoir. Lovingly designed in her English studio and expertly crafted in Mauritius using only the finest silks, tulles and laces, Michelle works alongside highly trained seamstresses to apply precious vintage touches to these delicate sophisticated pieces. We are delighted to share with you some of our favourite designs from the ‘Smoke & Mirrors’ collection inspired by the Jazz Age of the 1930s. Sensual, romantic and timeless – they are almost too beautiful to wear! Prepare to be seduced by the magic that is Shell Belle Couture... www.shellbellecouture.com
CHALET SOLEIL D'OR MEGÈVE
Nestled between pine trees high on the slopes of Mont D’Arbois overlooking the Arly valley. Chalet Soleil D’Or, presented in conjunction with Propriétés de Megève Sothebys International Realty, offers much more than just a home – a true sense of being at one with nature. Carefully designed and constructed on a plot of land of 1000m², nothing has been left to the imagination. With its traditional wooden textures, smooth modern interiors, innovative state-of-the-art systems and ultra-luxurious finishes, one feels as if one is living and breathing a piece of mountain art. With cosy bedrooms adorned with furs and rugs throughout, a beautiful spa and pool area, and unique mountain panoramas, this chalet offers your very own haven of paradise. Guide Price:
T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
Chartwell ‘Country’ Estates Chartwell Estates has had a very successful year of matching buyers and sellers in the prime central London market and internationally. We are also experiencing a dramatic increase in demand for country residences. As a result of this and due to our expertise in the sector, we are delighted to announce the launch of our ‘Country Homes’ division. With a wealth of contacts through the Chartwell ‘Private Office’ including wealth management advisors, private banks, family offices, law firms and high net-worth individuals. Coupled with our international presence and the continued success of our quarterly magazine and extensive online presence, we can provide an excellent purchasing platform for these quality properties. With a team based in Berkeley Square, London, Chartwell continues to expand, with purchasers seeking out their dream property away from London. In our experience, this often becomes their main home, whilst London is seen as their professional base. Andrew Butler, head of the Country Homes department and CEO of Chartwell Estates says, “it is amazing just how many buyers and sellers of these properties have ties with London either professionally or for leisure”.
The Country Homes department looks at imaginative ways of selling properties, as opposed to relying on the traditional channels that one would expect – including exclusive launch event partnerships to suit the property and location, international advertising and detailed editorials in our highly targeted publication. We can sell a property quietly off market if preferred, or arrange a strategy for an extensive marketing programme on the open market. We already have a selection of stunning properties throughout the UK from a beautiful new home on the Gleneagles Estate, some of Yorkshire’s finest, through to a Cotswold jewel. If you are considering buying or selling a home away from London and you think you have one of the best or want to buy the best then please do not hesitate to contact Andrew J Butler on 0207 409 0533 or email@example.com
L O K U M I S TA N B U L A taste for the exotic
For those with a taste for the exotic, your prayers have been answered. Lokum Istanbul – the ultimate supplier of Turkish delicacies is not only available in Knightsbridge but also online. This opulent brand, under the guidance of founder Zeynep Keyman has embarked on a perfumed journey of discovery to revitalise ancient delicacies dating back from the Ottoman-Turkish culture. With care and dedication she has brought them together under one roof – giving them a whole new lease of life. After years of being marginalised and overlooked, traditional treats including Turkish Delight, Akide Candies and Colognes, are now being brought up-to-date at Lokum Istanbul. This fascinating brand, gives these exquisite products a new and refreshing take and prepares them to assault the senses of the modern world. Zeynep’s store, the first lifestyle store from Turkey, situated in London’s eclectic Walton Street, had its inaugural launch before Christmas and has
seen unprecedented demand. Those who have been lucky enough to be ‘Lokumed’– have been gifted with these unique products packaged in the signature Ottoman Toile-de-Jouy boxes. The rush to purchase this taste for the exotic has been overwhelming and the store continues to exceed expectations. All products at Lokum Istanbul reflect the inspiration and passion Zeynep has for her Turkish culture, and she counts many high profile and international shoppers from across the world amongst her clientele. Her range of products includes: - Lokum Candles – memory-provoking magic, created to calm and relax you immediately; - Lokum fragrances – redolent of Istanbul and suited to delight the most sophisticated Pasha’s nose;
- Lokum, the Turkish Delights – true soul food that teases the taste buds in the most elegant way. Utilising time-honored traditional methods of producing Turkish Delight by mixing honey and molasses with flour, Lokum Istanbul has brought Turkish Delight to a whole new international audience with exclusive flavours such as Lemon, Rose, Mandarin, Fig and Walnut and Pistachio. By presenting the Lokum in custom-made, elegant containers, decorated with exquisite Ottoman Toile-de-Jouy patterns and Lokum’s trademark black handmade pom-poms, the combination is simple in style, creating a perfectly elegant and understatedly unique gift. In fact, it is fair to say that Lokum is the gifting experience, integral to the designer’s personality and joie de vivre. Zeynep gives today’s lifestyle gifts a twist of humour, modernity and an element of surprise! Each Lokum Istanbul store offers an oasis of calm in today’s busy, international lifestyle. Zeynep Keyman has created a unique brand that offers Turkish Delight, Akide Candies, Colognes, Scented Candles, Books and Bespoke Stationery. However, do not despair if you live far from her Knightsbridge ‘Mecca’ as Zeynep Keyman – in response to popular demand from far-flung spots of the globe – has taken on the challenge to put her concept of Lokum Istanbul online, for the first time ever. So, if you wish to share a taste of Turkish history and delight in experiencing the culture of an ancient civilisation – look no further than her online store. Visit her site at www.lokumistanbul.com, call on 020 7225 0704 or visit in person at 95 Walton Street, London SW3 2HP
Guess who's back? Victoria Sheppard investigates the much misunderstood Playboy Club LondON
Set aside the stereotypical thoughts that come to mind when hearing the words "The Playboy Club" – it's not what you think. It is a home from home for men AND women. A Club providing a mecca of entertainment, a sophisticated cocktail bar run by legendary cocktail shaker Salvatore Calabrese, "The Cottontail Lounge" – an intimate nightclub, which sees regular performances from some of the hottest international music stars, a cigar terrace, a 24-hour casino, members lounge, private dining room, and restaurant headed by world renowned chef Judy Joo. Since opening, or should I say re-opening, in June 2011, The Playboy Club has attracted an international A-list crowd including Lewis Hamilton and royalty – what's more they keep coming back. Tucked away on Old Park Lane, Mayfair, it has the unique charm the 60s Playboy Club – the staircase is a stunning black and white homage to the club’s origins, including some iconic shots of legendary Playboy founder, Hugh Hefner. As for the bunnies, well – they are certainly aplenty, with their fluffy tails, bunny ears and curvy silhouettes proudly on display. However, they are welcoming, charming and great company. On a recent visit, my table had the pleasure of VIP hostess 'Bunny Sara' taking care of us. Knowing our group included financial experts and business people, Sara read up on financial services and the economy prior to our visit and our guests left stunned that not only were the bunnies attractive and attentive, but they were also able to hold an intellectual conversation and had taken an interest in their guests. We highly recommend you visit Salvatore's – Playboy's elegant cocktail bar. Salvatore's character makes the bar come alive in the evenings, where the atmosphere buzzes. The setting combines a mix of cosy booths and sumptuous armchairs – a look perfectly suited to its Mayfair location. Hefner once said "Playboy is about the lighter side of contemporary life" and Playboy Club London certainly embodies this philosophy. As well as enjoying the run of the Club, members will also have the privilege of invitations to bespoke events, Playboy Club London evenings and, of course, the best parties in town.
From 20th March 2012, the Club will be home to a series of art exhibitions starting with celebrity photographer Philip Townsend and 'Sorry you missed the 60s'. Philip was the first to photograph The Rolling Stones, The Beatles and many other 60s legends. Annual membership costs £1,200 plus a £1,000 joining fee. Lifetime membership costs £15,000. Simply e-mail your preferred contact details to firstname.lastname@example.org and the membership manager will call you at a convenient time to discuss your personal membership preference. Wine tasting: We were welcomed into The Private Dining room, nestled away at the rear of The Playboy Club London’s buzzing casino. It seats just 12 guests for an intimate meal in a quintessentially Playboy-themed setting. Head Sommelier James Lloyd hosted the fine wine evening alongside executive chef Judy Joo. Joo’s choice of cuisine perfectly complements each of the wines selected by James. We were fortunate to taste a 6 course menu, ranging from Hand Dived Scallops and Foie Gras to Cinnamon Beignet with Wholemeal Ice Cream. Each course was cooked and presented with finesse. The passion and knowledge of both Joo and Lloyd shone throughout the evening, and we can detect the drive that brought Judy Joo from a successful career in the city, starting at Goldman Sachs, to pursuing her love of food working with Gordon Ramsey and at the renowned Fat Duck. James selected a varied range of wine, and provided an educated guide through the flavours and history of each wine and its region. We certainly look forward to returning for another wine evening at The Playboy Club: 10/10 for taste, ambiance and hospitality. £50 per person, available to non-members, first Wednesday of every month.
Salvatore’s at Playboy Club London award whammy! The Playboy Club London has only been open for under 6 months but already it’s making its mark in the bar industry with a host of award wins and nominations! Not only was the delightful Sophian Ejjanfi – Bar Manager extraordinaire at Salvatore Calabrese’s self-titled bar at Playboy – shortlisted for the Class Awards ‘Best Bar Manager in UK’ award, but the Maestro himself, the esteemed Mr Calabrese won the ‘Outstanding Achievement to the Industry’ award, a massive accolade indeed. This award reflects a lifetime’s work, from Dukes, to the Lanesborough, to Fifty and now at Playboy; for spreading the love of cocktails, and for making a few of his own; for his high standards; for his work with the UKBG; and for spawning something of a cocktail dynasty. Salvatore has helped cultivate the craft of the cocktail and the vision of the UK as a cocktail centre of the world. The icing on the cake for the man himself and proud management at the iconic Playboy Club on Old Park Lane, is that Salvatore’s talented bartenders have beaten the best bartenders in the UK not once, but twice in the last week – firstly they won The Hendricks Gin Cup beating the Savoy (whose team included last years World's Best Bartender), The Connaught, The Artesian Bar, and The Experimental Cocktail Club to name but a few. Then in front of an excited and inspired 400 people-strong crowd, they won The Grand Marnier competition again by beating extremely tough competition from the Savoy, Mahiki and many other top venues. Both competitions were judged by the crowd, making the victory all the more special! Says Salvatore Calabrese ‘The Maestro’ of his most recent successes: “I cannot tell you how delighted I am that my fantastic team has been recognised by those in the industry. They are so deserving – highly talented and I feel I have the best bartenders I could ever wish for. My vision was to create the best, most luxurious cocktail bar experience in the world – we have only been open for six-months and to already receive this recognition and praise is a reward for all the hard work. My own award is of course very special to me, but nothing is more satisfying than seeing your own colleagues rewarded.” Salvatore’s at the Playboy Club London is a bespoke design, created by Salvatore in conjunction with acclaimed London-based interior designers Jestico & Whiles. Salvatore brought his own hand-picked staff, ensuring that his bar provides the ultimate experience for members. These awards elevate exclusive private members club Playboy Club London to one of London’s most prestigious entertainment venues – only six-months into its lifespan in Mayfair.
HELP LONDON PLAYBOY BUNNY CHLOE SAVE NEPHEW MITCHELL’S LIFE… 22-year-old London Playboy Bunny Chloe, is urgently fundraising for her six-year-old nephew Mitchell Huth, suffering from Stage 4 Neuroblastoma – with the help of her colleagues at Playboy Club London, family and friends, including a charity 2012 calendar for sale at www.playboyclublondon.com However, time is of the utmost importantance. Mitchell needs £150,000 to have life-saving treatment in America, and we need your help to make it happen. Mitchell has had a range of treatments including surgery, high dose chemotherapy with stem cell rescue and radiotherapy. However, Mitchell has recently relapsed and needs to go abroad for treatment for a chance of surviving. Mitchell’s mother makes this appeal: “Please help us build this fund for Mitchell, to give him the best chance of life he so rightly deserves. With all my heart, thank you. Mitchell’s mummy.” Please help us raise money for Mitchell. Below is a link to his charity page which contains all the info about him and his plight – http://www.bmycharity.com/MitchellHuthAppeal
Exclusive – Chartwell Magazine gets the first magazine interview with COOPER Hefner’s son – Cooper Name: Cooper Hefner Age: 20 Status: Eligible bachelor Born with his surname, and strikingly similar looks to his father, Cooper is the youngest son of Playboy tycoon Hugh Hefner and Kimberley Conrad, who was 1989 Playmate of the year. Cooper is currently studying film and history at Chapman University in Southern California and is on track to graduate in 2013. Cooper has tried to keep a low profile whilst studying, though he recalls a moment at university when his fellow students told him of his resemblance to ‘Hugh Hefner’, which Cooper played down, but was quickly caught out when they googled him! Cooper remains grounded and still has the same group of friends now, as he did in his early childhood. New Years Eve 2011/12 was Cooper’s first solo
public appearance in the UK, in which he hosted a black and white tie event, sponsored by Moet & Chandon at The Playboy Club London. Cooper says he definitely sees himself “spending more time in London” and even enjoyed the delights of the local (Mayfair) Rose & Crown pub, and one of his favourite London night spots – Mahiki, a favourite with the young royals. Cooper confirms to Chartwell that it is his intention to step into the family business, and that his father is “incredibly supportive”, though he is not yet sure what type of role he will take. He is exploring different avenues of the business to find where he best fits. We look forward to watching Cooper's star rise, and wish him every success in the future.
GIGA 5 Welcome to a world where the coffee loverâ€™s dreams come true, where the rules have been rewritten to satisfy the most discerning standards, and where perfection, precision and professionalism have been married with style, aesthetics and sophistication. Welcome to a world of uncompromising quality, where Swiss engineering and innovation generate new ideas, where design and function are reinterpreted and take on a whole new aspect. Welcome to a world of freedom, where the gourmet can choose from thousands of blends and roasts to convey the full, natural bouquet of aromas from bean to cup. Welcome to the world of GIGA, where the concept of a premium product is redefined.
For availability and stockists of GIGA 5 and other Jura coffee machines visit : www.jurauk.com or call 0800 652 5527 www.jura-giga.com
QUALITY WITHOUt compromise JURA, leaders in luxury Swiss made bean-to-cup technology, host the most lavish range of machines, all of which combine sophistication, performance and perfection.
The technical ingenuity at the heart of all machines, allows for a simple-to-operate ‘one touch’ selection process, which has the ability to prepare a range of professional coffees – bringing barista quality to the home. Boasting the world’s smallest ‘one touch’ automatic coffee machine, JURA’s ENA 9 Micro is both compact and stylish, making it desirable for all those looking for that extra something to be part of their home. Available in sophisticated chrome and paired with its petite qualities, the ENA 9 Micro can sit within the surroundings of any room with real elegance. An extension of the ENA range sees the slimmest fully automated coffee machine in the ENA 9. Particularly easy to use but with features to create the finest coffee, the ENA 9 is dually suited to first time coffee machine buyers and coffee connoisseurs alike. With the stunning Piano Black and sophisticated chrome colour options, the ENA 9 offers choices that can harmonise with existing fixtures and fittings in any property.
On a grander scale, JURA’s award-winning J9 One Touch TFT, offers a further air of refinery. Cased within a dazzling metallic-look lacquer shell and polished front, the TFT is the perfect showpiece for the home. With a digital display and rotary selection process, it is even easier to select and prepare a list of speciality coffees in just minutes. Hailed as the flagship of the JURA fleet, the GIGA 5’s intuitive technology for the first time, offers features that have previously only ever been available in coffee bars and restaurants. Such innovations efficiently allow the user to create the ultimate café latte at their very desire. With never before accomplished standards of precision and professionalism, the GIGA 5 heralds a new era in coffee making. At its super premium height, the GIGA 5 is a machine to take coffee connoisseurs beyond the next level and is one that belongs in a home to be proud of. The intelligent technology hailed by these JURA machines ensures a unique milk foam quality of a feather-light consistency for every coffee. Furthermore, they are fitted with Zero-Energy Switches that allow them to use up to 40% less energy, making them more eco-friendly yet without compromising on enjoyment or beauty. For availability and stockists of JURA coffee machines visit: www.jurauk.com or call 0800 652 5527.
ENA 9 Micro
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Our Monaco girl-about-town brings you exclusive events to shake your tail to...
Recommends 21 April – 7 May 8 May 11 –13 May 24 – 27 May 8 – 10 June 19 – 23 June 25 June – 8 July 27 June – 1 July 4 – 6 July 6 – 8 July 26 July 18 – 19 August 5 – 7 September
Guards Polo Club, The Keith Prowse Spring Tournament Chartwell Linley Event Historic Grand Prix of Monaco Monaco Grand Prix Mint Polo, Hurlingham Boodles Tennis at Stoke Park Wimbledon Maggie's Club at Henley Upon Thames Royal Regatta Concours d’Elegance Wireless Festival Playboy Club London’s Summer Party V Festival Salon Privé
All the best-dressed hounds should be wearing a Harman and Rose dog collar. My favourite shown above, with its 22kt hardware, Swarovski crystal surround and pure Italian leather can be found exclusively at Harrods.
COMPETITIONS WIN A 3 NIGHT STAY WITH SMALL LUXURY HOTELS OF THE WORLD™ Small Luxury Hotels of the World™ is an unrivalled portfolio of some of the world's finest small independent hotels. Comprising over 520 hotels in more than 70 countries, the diversity of the individual properties, and the experiences that they offer, is exceptional. From cutting-edge design hotels to palatial 17th century mansions, city centre sanctuaries to remote private islands, historic country houses to idyllic resorts, Small Luxury Hotels of the World offers a world of luxurious locations.
Small Luxury Hotels of the World™ is exclusively offering Chartwell Magazine readers the chance to win three nights for two at any SLH property around the world. The prize is subject to availability and is valid for standard double room accommodation only for stays within one year. Terms and conditions apply. For your chance to win visit www.slh.com/chartwell and enter by 31st May 2012.
YOU ARE NOW PRECISELY ONE MILLION MILES AWAY FROM ROUTINE.
Where will your imagination take you? To the end of the boardroom table? Or to the place of your dreams? Of course, how you get there is important. Perhaps you should consider one of the worldâ€™s finest yachts with proven performance and unsurpassed build quality, designed to take you as far away from the routine as possible. To discover a world of difference, from 46 to 125 feet, please call +44 (0)1473 695 005 or email us at email@example.com
SAIL | BROKERAGE | CHARTER | REFIT
Nic Wing explores the relationship between this world-renowned vintage Champagne and its most distinguished devotee and customer â€“ Sir Winston Churchill.
With the possible exception of James Bond and his shaken Martini, few famous people are as closely associated with one drink as Sir Winston Churchill’s renowned love for Pol Roger Champagne. Sir Winston famously said: “A single glass of champagne imparts a feeling of exhilaration. The nerves are braced, the imagination is agreeably stirred, the wits become more nimble.” The Champagne House of Pol Roger was established in Epernay in 1849. Today it is one of very few family-owned independent Champagne houses. It has “a respect for nature, a devotion to quality and a certain joie de vivre”. Pol Roger owns 87 hectares of vineyards on prime sites in the Vallée d'Epernay and the Côte des Blancs. Its cellars, extending to 7 km, lie on three levels in the chalk below the streets of Epernay and are among the deepest and coolest cellars in the region: contributing to the slow maturation and creation of fine, persistent bubbles which are the hallmark of all Pol Roger champagnes. In 1908 Sir Winston Churchill, at the time in the Cabinet as President of the Board of Trade, was a customer of the historic Berry Brothers & Rudd store in St James’s Street and the store's records, including his earliest invoice show that at that time he was buying the 1895 Pol Roger vintage. In 1944 his long friendship with Odette Pol Roger the grand dame of the famous champagne house began. Churchill first met her at the British Embassy in November 1944. Churchill became Pol Roger’s most influential, customer. Odette sent him a case of his favourite vintage (the 1928) for his birthday every year while stocks lasted. When the 1928 ran out he moved onto the 1934 vintage which he drank until his death. Odette had a “merry smile, ebullient charm and love of parties, she had no trouble in fulfilling the task she set for herself – ‘to encourage people to enjoy champagne’ – and she soon came to seem the sparkling embodiment of Pol Roger.”
My favourite story about Odette Pol Roger is taken from her obituary published in the Daily Telegraph in December 2000. She spent summers at her chateau in Normandy on the Andelle, one of the best trout rivers in France, to which she often invited friends from Britain. There was little that could distract her from the chance of a fine catch. “The other night,”she told The Daily Telegraph in 1970, “I was in Paris, dining at the Embassy with Christopher Soames, and afterwards I got into my car and drove to Normandy. “As the sun was coming up I was thinking of getting a bit of sleep when I looked down from my bedroom window and saw a huge trout in the stream which runs through the property. So I grabbed my rod and rushed down and caught him – still in my dinner gown. Well! Life must be enjoyed, no?” When Churchill died in January 1965, as a tribute to their most loyal client, through whose cellar it is estimated more than 500 cases of Pol Roger had passed in the last ten years of his life, a black border was added to the labels of all bottles of ‘White Foil’ sold in the United Kingdom. In 1984, The Pol Roger Cuvée Sir Winston Churchill was launched made from a secret blend, and only produced in exceptional years, is a Champagne of exquisite finesse and balance and one that rivals the very best of the region. The grapes are all from Grand Cru vineyards which were under vine during Churchill’s lifetime. It is made in a style which Churchill himself favoured: robust, mature and long-lived. The strong links to Britain were confirmed when the guests at the wedding of Prince William and Kate Middleton drank Pol Roger Champagne.
Remember gentlemen, it’s not just France we are fighting for, it’s Champagne! Sir Winston Churchill
Experience the unhotel
At onefinestay, the world’s first unhotel, they’ve sifted through some of the most decadent, elegant, and quirky homes in London to curate a collection of over 350 wonderful and characterful places to stay. A compelling alternative to a traditional hotel, onefinestay gives you the run of a distinctive, high-end home for your visit. Teamed with their fluffy towels, 5* linens, White Company toiletries and other hotel-style amenities, we think it’s the best of both worlds. The collection of homes is extensive, ranging from a stately apartment overlooking Hyde Park to a dainty Notting Hill mews house. One of the most spectacular homes must surely be Richmond Bridge – formerly a historic vicarage, its new owners have preserved the best of its original features, and then nursed it into the new millennium with bespoke furniture and sumptuous interiors. Your host is an entrepreneur, while your hostess is an eminent interior designer – her work featuring in every corner of her stunning home. And whilst they’re away, you can pretend it’s yours for a few days. Approach the private driveway that leads to a breath-taking double fronted entrance, where you’ll be personally met by a member of the onefinestay team. After they’ve helped you deposit your suitcases in the grand entrance hall, settle into the open plan kitchen diner and acquaint yourself with its high spec gadgetry and sonos stereo, or go outside, light up the firepit and bounce on the sunken trampoline. Once you’ve perused the collection of books in the study, explore the opulent sitting room with its intricate fireplace and admire the view from the comfort of the window seat. An imposing staircase sweeps you up to the first floor, where the dramatic master suite boasts a superking sized bed, mirrored dressing room, and ensuite with an envy-inducing deep chrome bathtub. When you’ve discovered the six further bedrooms and think you’ve seen it all, you’ll happen upon the games room, fully equipped with foosball, a snooker table and oodles of toys to keep the family occupied.
Booking a stay is as easy as booking a hotel room – with the service to match.
If you can bear to leave the grandeur of Richmond Bridge, take the chance to wander through leafy Richmond Village, with its boutiques, bars and Michelin-starred restaurants. Kew Gardens are also spectacular and if you want to get into town, you can be in zone one in less than thirty minutes. Booking a stay with onefinestay is as easy as booking a hotel room – with the service to match. Nobody wants to be a tourist, so the homes come with recommendations from the owners, all loaded onto a handy iPhone which is yours for the duration of your stay. For everything else, they’re there 24/7. The comprehensive service doesn’t stop with guests, as onefinestay also provide a full spectrum of services, from photography and marketing to insurance and cleaning, for members. Members earn an income from their home whilst they are out of town, and return to find it even tidier than it was when they left. To find out how to become a member or book accommodation with onefinestay, visit www.onefinestay.com or call the team on: +44 800 612 4377 (reservations), or +44 20 7097 8948 (general enquiries)
Elegant. Evocative. Exalted.
Artist rendering. Subject to change.
Exclusive Private Villas
The Shore Club, located on Long Bay Beach on the exclusive island of Providenciales (Provo) in Turks & Caicos Islands is that and much more. The third beachfront project for leading developer Stan Hartling and The Hartling Group, The Shore Club introduces a new type of luxury real estate to the sun drenched Caribbean island. “When people ask me what is unique about this project, I can’t answer them with just one or two words, because we are offering many new and innovative features at The Shore Club,” says Stan Hartling. “From the design concept to the location, this is a very special project.” And indeed it is. Located just four kilometers from the popular and top ranked (#1 in the world according to Condé Naste and TripAdvisor) Grace Bay Beach, The Shore Club is nestled on spectacular Long Bay Beach. It is the first resort real estate development on Long Bay and, due to the limited availability of further development lands on that shoreline, is likely to be the only such development there in the foreseeable future. The Shore Club features 820 feet of beachfront and unobstructed views of Turks & Caicos’ famous turquoise waters from every suite and villa. This low-density development consists of just 38 suites in two low-rise buildings and six detached villas. Suites are available from 2,227 sq ft (two bedroom plus den) to an expansive 6,240 sq ft penthouse, which is called the Governor’s Perch. Every suite includes a lock-out, to permit additional privacy for guests or maximise rental income potential.
Artist rendering. Subject to change.
Luxury Beachfront Condos
The six magnificent villas each occupy approximately 0.4 acres of land, interior living space of approximately 5,400 sq ft., and a further outdoor living space of 2,700 sq ft. Each villa has a private swimming pool and maid/nanny quarters. Furnishings and fixtures reflect a classic Barbadian theme throughout this stylish property. Three swimming pools, a fitness centre, spa and wellness centre, restaurant and tennis courts are just some of the facilities and services owners can enjoy at The Shore Club. “This project is already 60% sold out,” states Hartling. “That’s a stunning achievement given the current economic climate and considering the fact we have not yet commenced construction. I believe it is a testament to the success we enjoyed on our past projects – The Sands and The Regent Palms – and the reputation for quality and credibility that we have earned in Turks & Caicos.” Hartling hastens to add that the early success of The Shore Club project is also about the unique attributes the project offers to prospective purchasers. “Once prospective purchasers see the natural vegetation, the prime location and the seclusion it offers while at the same time being so close to all conveniences, buyers find it pretty hard to resist!” Construction will start in 2012 on The Shore Club. T: +44 (0) 207 409 0533 E: firstname.lastname@example.org W: www.chartwellestates.co.uk
T: +44 (0) 207 409 0533 E: email@example.com W: www.chartwellestates.co.uk
Turks & Caicos ISLANDS This unparalleled 30,000 sq ft luxury mansion is ideally situated on a private island paradise, adjoined to the mainland by its own private swing bridge. This island extravagance encompasses 10 elegant bedrooms, an exquisite 40 ft high living room ceiling with a two storey high open entryway to and from the patio. A three storey library featuring a detailed spiral staircase creates the ambience of sophistication. Relaxing gazebos boast panoramic 360 degree views and the homeâ€™s west facing position captures soothing sounds of the sea, flowing natural light and gorgeous sunset views. Other fascinating highlights include first class marinas furnished with master craft boats, a full service gymnasium, a 10 person state-of-the-art home theatre and a cool wine cellar.
Are you getting the builders in?
Neil Russell, CEO of Chartwell Bespoke suggests that if you are, then you shouldn’t call Chartwell Bespoke. Chartwell Bespoke’s approach to design, construction and project delivery could not be further removed from the perceived traditional approach to construction. All of our clients are different, and as such the services required by each are particularly distinctive requiring a measured, conversant and therefore bespoke approach. The style of project where architects draw up plans latterly executed in isolation by the contractor is something that Chartwell Bespoke does not do nor represent. In fact, contractor is a word rarely uttered in our Mayfair offices. “Through our experience in Central London and around the globe, we understand that to achieve true client satisfaction, construction must be approached in an entirely different way.” In recent years, our involvement in projects has consistently started before a property has been acquired or a drawing sketched. This is as a direct result of the continuing success of Chartwell Estates and the synergy of the Chartwell Group from our offices in Mayfair. This approach results in cohesion throughout the often problematic development process. Chartwell Bespoke forges a unique partnership between the elements of any property development: the client, the property, the design and delivery, and more over, our ambition to deliver assets that are second to none in vision, excellence and finish. Understanding our clients’ expectations, desires and lifestyle is at the nucleus of everything we do; from commencement of design through to personal styling and dressing of the property ready for the client to ease into their new acquisition or newly restored property. When dealing with the creation of a new home or space for our typically high-net-worth individuals, we transcend simple design and construction and strive to fundamentally understand our clients’ influences, inspirations and aspirations before boots hit the ground. Understanding the individual’s personal requirements and intentions allows Chartwell Bespoke to become a trusted ally in what no longer needs be a daunting process. This is the raison d'être for Chartwell Bespoke. We present a solution to any problem that the most creative imaginations may present. At the core of what we achieve is our staff. The appointment of our management team has been given careful consideration. We consider our world-class staff and structure paramount. Strength in experience, heart and collaboration is what makes each Chartwell Bespoke project a marked success. We have attracted experienced professionals from an international forum, all of whom have achieved a consistent delivery of high value, fast paced projects in London, Europe and the rest of the world. It is our unified team’s abilities to think and operate on an international scale, yet provide the utmost quality locally that differentiates us. The experience, passion and drive from our team from top to bottom result in assured delivery encompassing an unrivalled catalogue of manufacturers, designers and suppliers from the finest Italian marble, to atypical fabrics from Asia; artisan residential couturiers in London, to technology advisors in Tokyo, Seoul and New York. “None of the preparation, planning and effort is remembered if the construction delivery is a failure.” Chartwell Bespoke’s history is steeped in the highest quality of construction and renovation. Our more than 400 completed, unique construction and renovation projects across the South of France, Monaco and London are held with pride in our offices, and represent the continuing mindset of our company. “Our projects are successful because we understand, manage and own every part of the project, down to the very minute and specific detailing demanded by our clients.” Chartwell operate in some of the most prestigious and valuable properties in Central London. With recent projects completed in St James, Knightsbridge, Mayfair, Hyde Park and Kensington, the opportunities for the second half of 2012 and beyond are especially exciting for Chartwell Bespoke. The continually increasing desire driven from our clients has resulted in even more imaginative solutions, collaborative results and delivered ambition in a field consistently held up to rigorous scrutiny. Acrimony no longer need exist in the development culture where experience, structure and vision are met with purpose on both sides of the balance sheet. It is very much the opinion and belief of Chartwell Bespoke that it can and will be done. The business caters to a range of international clients that have single line decision on a project proceeding, to the most involved partners who are not only ‘hands on’ but discover a team who enrich their projects with a creativity that isn’t found in simple ‘construction’. Neil Russell, Chief Executive Officer of Chartwell Bespoke may be contacted in our London Office on +44(0)207 409 0533
PENSIONS, PROPERTY & TAX – A PARADISE FOUND? Following proposals on property tax unveiled in the last UK budget, and after recent changes to further liberalise UK pensions legislation, now is the time to unlock the potential of Offshore Pensions – known as Qualifying Non-UK Pension Schemes or 'QNUPS'.
Many UK expatriates are unaware that despite living outside the UK, they are quite likely to remain UK-domiciled, and will therefore be liable to UK Inheritance Tax (IHT) on their worldwide estate on their death. And with UK Inheritance Tax rates of 40%, after very limited allowances, this could prove to be extremely costly. Equally, anyone owning assets in the UK, such as property or investment portfolios, may also be unaware that regardless of where they live, assets held in the UK remain liable to UK Inheritance Tax. So what are the possibilities for mitigating this liability? For UK expatriates, there is the possibility of losing their domicile, (usually acquired by birth), and therefore their liability, at least on non-UK situated assets. However this remains a long-term option and one which can always be challenged by the UK Inland Revenue (HMRC). It does not, however, avoid the liability on UK held assets, either for UK expatriates or those who simply hold assets within the UK. One alternative is to give assets away. However, to avoid UK Inheritance Tax entirely, the individual must survive seven-years, and must not continue to enjoy the benefits of the assets gifted away, as this is what is termed a Reservation of Benefit. There is a number of other alternatives of course, many of which are extremely complicated, but one simple option, which is finding increasing favour amongst UK and non-UK expatriates alike, is what is known as a Qualifying Non-UK Pension Scheme – or a ‘QNUPS’. The legislation behind QNUPS lies in the UK Finance Act 2008, subsequently passed into law by the Inheritance Tax (QNUPS) Regulations 2010. Since 2006 it has been possible to transfer pensions outside the UK, using QROPS (Qualifying Recognised Overseas Pensions Schemes) into recognised trusts abroad, however this only applies to UK pensions, and not other UK assets. QNUPS – the ‘son’ of QROPS – were introduced by the UK Government to clarify the UK inheritance tax treatment of QROPS and other overseas pension arrangements, and offer significant tax planning opportunities.
Key attractions • No UK income tax payable on pension/trusts assets. • No capital gains tax on sale of assets within the QNUPS. • No Inheritance Tax on widest range of pension assets. • No tax on the growth of UK equity portfolio. • Loans can be made to members, if not already retired. • Not subject to UK pension sharing orders on divorce. A QNUPS can invest in a wide range of assets, much greater than a normal UK pension. For example a QNUPS can invest in residential property (when let on a commercial basis), an equity portfolio, private company shares or even art or wine collections. One of the biggest advantages of QNUPS, however, is that they are also exempt from UK Inheritance tax on the member’s death. The UK Government has recently abolished IHT for approved UK pension schemes, although this has been replaced by a tax charge of 55%, levied before the benefits are paid out to the beneficiary. This applies if you have not started taking benefits before age 75 or have started to take your pension and are over 75 at time of death. The charge applies regardless of where the member was resident before death, and where the beneficiary receiving the benefit is resident. However a QNUPS fund is exempt from the new 55% tax charge. Some QNUPS limitations • A QNUPS is first and foremost a pension, and as such you will need to take some income from the pension. • Retirement age must be the same as for the UK. • It is not designed for ‘death-bed’ estate planning but as part of a co-ordinated tax planning strategy. • A QNUPS must be recognised as a pension scheme in the territory in which it is established. Specifically, and in addition, a QNUPS must provide that at least 70% of the funds are designated by the
scheme manager for the purpose of providing the member with a (pension) income. The remaining 30% (in the case of Guernsey for example) is available as a lump sum. Pension benefits must commence after age 55 and at least before age 75. By way of a caveat, there can sometimes be problems where an individual is in ill health and sets up a QNUPS with the sole objective of avoiding IHT. In this case the HMRC may seek to challenge the QNUPS on the basis that it had little or no basis in pension planning. In the event of the death of the member, all remaining funds in the QNUPS will pass to the member’s heirs or beneficiaries free of UK Inheritance Tax. Who should consider investing via a QNUPS? • If you are a UK expatriate and you own assets of substantial value. • If you are a resident in the UK with assets in the UK. • If you are non UK domiciled but own assets in the UK. • If you want your assets to grow free of UK Capital Gains tax. • If you wish to invest into an offshore pension without limits. • If you wish to reduce your UK Inheritance tax liability at the same time. As always, expert guidance is required. Christopher Marriott, Managing Director of Blackden Financial, a specialist firm of independent wealth managers based in Geneva, Switzerland since 2003 advises on QNUPS structures in collaboration with Christopher Coleridge Cole, managing partner of Gresham Street Partners, one of the leading proponents of QNUPS worldwide. For more information please contact Christopher Marriott on 0041 22 755 0800, or firstname.lastname@example.org or visit www.blackdenfinancial.com
Pig Victoria Sheppard reviews this traditional country kitchen restaurant with a modern twist set in the heart of Hampshireâ€™s New Forest National Park.
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T h e L a r g est O r g a n i s a t i on o f L u x u r y L i v i n g
For the first time since its creation more than three hundred years ago, the Galerie des Glaces (“Hall of Mirrors”) at the famed Palace of Versailles has been entirely restored. A working site like no other, where state-of-the-art technology would come together with arts and crafts as they were performed under the reign of Louis XIV
Cinzia Pasquali’s team restores the second half of the ceilings and walls of the Hall of Mirrors at the Palace of Versailles.
I Group Team Partnership Cinzia Pasquali I Group Decorators Team offers its experience and mastery to cover all technical
requirements for restoration and keeps us as at the forefront of the evolution
and scientific research relating to works of art from restoration to preventive
of performance techniques and new materials.
conservation. The team has restored easel paintings, painted decorations and works of mixed For 25-years, the Cinzia Pasquali’s Team has specialised in modern and
media as well as complex materials such as photographs, collages, plastics,
contemporary art, developing restoration techniques and methodologies
cuts, montages, waxes, organic materials, and recycled materials for museums,
for preventive conservation – at the forefront of current scientific
galleries, private residential and commercial areas.
techniques. Our continuous research allows the team to successfully meet the
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Facilitating a world of luxury and choice where no dream is unachievable and no vision is compromised
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PROTECTION WITHOUT COMPROMISE HIGH PERFORMANCE, LUXURY ARMOURED VEHICLES, PROVIDING THE PREMIUM SECURITY SOLUTION FOR YOUR VIPS
Land Roverâ€™s range of armoured vehicle solutions covers a spectrum of requirements difficult to match by any other original equipment manufacturer. They cover needs that range from head-of-state level . to those of key workers operating in hostile environments.
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Published on Apr 18, 2012
Chartwell Magazine showcases some stunning property across the globe and also reflects the lifestyle of its readership with content dedicate...