Fine Living On Four Seasons’ Floating Flagship

Source : Property Report "October 2007"

Singapore was a recent stop on the ongoing global tour for the unveiling of the Four Seasons Ocean Residences, exclusive private apartments aboard the world’s first ‘branded’ ship.

The private preview and off-plan sales of the 719-foot Four Seasons, which is being developed by BV International Ocean Holdings Ltd, took place in mid-September at an invitation-only event at the Four Seasons Hotel, organised by sales agent Savills International.

Savills, which previously helped sell units in the only comparable ship sailing today, The World managed by ResidenSea, said the response in Asia to the 13-deck, 48,600-tonne Four Seasons was staggering.

“The response in the Far East is about 10 times what it was five years ago (for sales of The World). The increasing wealth in the region is amazing,” David Vaughan of Savills told Property Report. “To get the name of Four Seasons, the top hotel operator in the world, is quite the most amazing achievement for the developers. The ship will be a moving flagship for the Four Seasons.”

Built by the Aker shipyard in Finland and set for completion in 2010, the ship will feature 112 private residences and 70,000sqft of public space, featuring four restaurants, bars, a Monte Carlo-style casino, designer retail outlets and a gourmet market.

Leisure facilities include a stunning swimming pool, a lavish 11,000sqft Four Seasons Spa and fitness centre, a jogging track, driving range and putting greens, and watersports ‘toys’, including a Riva speedboat. There will also be a business centre, tutoring facility, medical facility with a full-time doctor and an operating room, and a helipad that can be used for emergencies, as well as standard passenger transfers.

All of the residential units are fully furnished and available in three design schemes: traditional, contemporary and maritime. Notably, Four Seasons will be the first ship in which every single bedroom has an outside deck, with wall-to-ceiling windows offering grand views of the stunning scenery, which will include everything from tropical Caribbean islands to Antarctic icebergs.

The residences are definitely for the well heeled. The majority are located on decks 6-10 and range in price from just under US$4 million for a one-bedroom apartment (797sqft) to over US$12 million for a three-bedroom apartment (2,418-2,899sqft).

On the upper decks, 11-13, there are six penthouses (2,914-7,860sqft), with prices ranging from just over US$15 million to over US$40 million for a four-bedroom triplex.

“This ship has been set up for the wealthiest people in the world,” Vaughan said. “Buyers will come from all the major areas from around the world, and will represent both old and new money, as well as everything in-between.” Ownership of units is via a 50-year leasehold, which is transferable and can be resold, while the Resident’s Association will have the right to renew at the end of the 50-year term.

The Four Seasons, which can accommodate 550 guests and 220 crew (who each have their own cabin), is scheduled to start sailing on June 1, 2010. There are hopes that Queen Elizabeth will be able to officially launch the ship later that month in Greenwich, London.

Already there is a day-by-day global itinerary planned for the first two years, with the ship in port for about 250 days a year. The ship will spend three months in Europe, followed by 11 months around the American continent, before crossing the Pacific via Hawaii to the Pacific islands, Australia and New Zealand.

From January 2012, the ship will head north to Asia, with stops in Indonesia, Malaysia, Vietnam, Thailand, Singapore, Sri Lanka, India and the Maldives. It will then spend the April and May in the Seychelles and mainland Africa and finally Spain.

“The route has been planned meticulously to follow all the ocean currents. The ship will stop at all the major sports and cultural events, like the 2012 Olympics in London, Rio carnival, Monaco Grand Prix, America’s Cup, and so on,” Vaughan said.

“We expect most owners to typically use their residence for two to three months a year, although older owners, perhaps retired, may use it for six months or so. Some will live on the ship all year round. Owners can stay in touch with anyone around the world, all the time, as the communication facilities onboard are mind-blowing.”

Buyers of each apartment can nominate five people who may also use their residence. However, the policy for renting out apartments will not be finalised until all the residences have been sold and the association of owners decide on a common policy. It has already been confirmed that no outside rentals will be for less than 30 days.

“It’s a lifestyle choice, not an investment. Of all the people we’ve talked to, nobody’s mentioned income [from rental],” added Vaughan, who expected buyers to range in age from 35 to 75. “Buyers of such an apartment are more concerned with security and staying in the company of like-minded owners. There’s no desire to see many strangers aboard.”

Savills Singapore is handling all local enquiries, while the ‘unveiling’ road show will continue around the world, including an exhibition booth at Cityscape Dubai from October 16-18.