2023-05-12 12:43:06
Nexus Luxury Collectionan investment company that counts among its partners the famous golfers Tiger Woods and Ernie Els and artist Justin Timberlake, is going to develop a luxury complex around the Cypress golf course in Wellington, a city in South Florida near Palm Beach famous for its equestrian competitions. The project has a luxury hotel, shopping center, and ‘branded residences’ from 3 million dollars, 2.7 million euros.
The plans contemplate single-family houses, apartments, a hotel and a golf club on a project that covers 243 hectares. The mall will also include shops, restaurants and offices. Work is scheduled to begin next month with upgrades to the existing golf course. The promoters expect other club facilities to take shape in the coming years.
Wellington, something less famous than Palm Beach, has a long tradition of equestrian and polo competitions, and a significant influx of tourists during the winter months. But with the pandemic, it has attracted thousands of workers from financial firms who now want to live here or have at least a second home. The promoters affirm that now there is not a sufficient offer, according to Christopher Anand, executive director and managing partner of Nexus Luxury Collection
The group was founded by British billionaire Joe Lewis joined by Woods, Timberlake and golfer Ernie Els. “We have a real opportunity to redefine what it is to live for many families in South Florida year-round.”
The apartments and single-family houses will begin to be marketed between 4 and 5 million dollars, 3.6 and 4.5 million euros at the current exchange rate. Custom houses or ‘branded residences’ will have wide spaces, from 1,000 m2 to 2 Ha with starting prices of 3 million dollars2.7 million euros.
Quite a bargain compared to Palm Beach, according to the promoters, where you can’t find anything under 10 million dollars, 9.1 million euros. Nexus already manages a resort in Albany, the capital of the state of New York, and another in the Bahamas islands. It also has a private club in lower Manhattan.
Wellington’s population has grown rapidly and has become more expensive, where celebrities such as Bill Gates, actor Tommy Lee Jones and rocker Bruce Springsteen have had properties in the area. The average sale price of a single-family home was $680,000 in the first quarter (621,650 euros), according to appraiser Miller Samuel Inc. and real estate agency Douglas Elliman Real Estate. Four years ago, the median was 235,000 dollars, almost 215,000 euros.
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