While riding his moped through Somerset on a family vacation
back in 2006 hedge fund manager Lawrence Doyle spotted a beautiful
old Bermuda property sitting empty along the railway trail.
To his delight, when he investigated further he discovered the
property was up for sale.
Today he is only three years away from the completion of what
developers are touting simply the most satisfying place on earth
the new Lantana.
Last Friday Mr. Doyle was in Bermuda to unveil his plans for the
property, which include hotel condominiums and residences, a beach
club and pool.
"When I first saw the property it was intact but the old
cottages were sitting empty," Mr. Doyle explained. "It has the
waterfront location, the hillside, the vegetation whats not to
The site was put up for sale in the summer of 2006, with an
asking price of $18.5 million. Mr. Doyle purchased the property two
years later and plans to invest $135 million out of his own pocket
in its redevelopment. The 9.4-acre property will house a 28-unit
cottage colony, with waterfront restaurant, private beach, a full
service restaurant, private water shuttle, secluded sun decks,
croquet lawn and a 24-hour fitness centre and spa, as well as
providing its guests with room service, high speed Internet access,
concierge service, housekeeping service and gold membership at
Newstead Belmont Hills.
Each of the hotel residences will be between 2,000 to 4,000
square feet and have three or four bedrooms, a full kitchen and
dining area, living room, multiple bathrooms and will be fully
There will also be one and two bedroom suites available. Owners
can purchase a hotel residence located at the North end of the
property and then choose the design of that building. Kevin Petty
of Moongate Resorts Ltd. will develop and manage the cottage
The Planning Department is currently running the rule over the
proposed development. "When I eventually purchased it I thought the
plans for the property were too dense for what I wanted to do," Mr.
Now, after plans were changed, the cottages have much more
breathing room. There are hotel residences which people will be
able to purchase almost immediately. Dozens of the original
buildings were demolished eight months ago. And, of course, Mr.
Doyle says he plans to keep one of the residences for himself and
There have been a number of proposals to redevelop and reopen
Lantana over the years, which opened as one of the first cottage
colony resorts in the 1950s. It had a reputation for friendliness
and first class service until its closure in 1998 and was a hot
spot for tourists because of its immaculate gardens, Sunday brunch
and water ski shows.
"I hope it retains all the charm it had for 50 years," Mr. Doyle
said of the property. "It was very successful for many years. There
will be new cottages with a new feel but in pretty much the same
spots as the old ones. The uniting theme of the cottages is still
being worked out."
All photos by Kageaki Smith