the second homes with a staff of hundreds

Freshly-laid eggs at your door? An on-call professional golfer to perfect your swing? A planner who can whip up a “real” (or near enough) mermaid for your daughter’s birthday? It seems the sky’s the limit for owners of elevated serviced second residences — holiday homes within a community or resort that usually come with housekeeping, 24-hour security, leisure facilities and a concierge. This doesn’t come cheap, however: annual fees can run into the tens of thousands. 

“For our owners, it’s like having a staff of 200-plus at their fingertips,” says Tina Necrason, executive vice-president for residential at Montage International, which operates Pendry Residences in the US and Mexico. “It’s a spectrum. Many just want their fridge stocked, car serviced or the heating turned on before they arrive.” Others relish “the option of serious luxury.”

Buyers are not driven by price per square foot, but lifestyle per square foot. They no longer want the hassle of larger homes — they want to focus on experiences

Her words echo those of a recent trend report by real estate firm Coldwell Banker, which found that among the top echelons of buyers, “turnkey is king”. On their wish lists are second homes that come with additional perks and amenities that provide “a lifestyle experience”.

According to Knight Frank, this hybrid way of living — part-independent home, part-hotel, part-members’ club — is a sector that’s growing by around 12 per cent annually, with the biggest development pipelines in the US, the UAE, Mexico, the UK and Saudi Arabia. Between 2024 and 2026, more than 6,500 new luxury managed multi-home residences are expected to come to market. 

Pendry is about to open the doors of its latest offering at Natirar, a New Jersey community in the grounds of a historic mansion once owned by the King of Morocco. Currently, there are 12 residences — an additional 12 are planned. Ten of the two-bedroom town houses, which start at $4mn, have been sold, says Necrason. An annual management fee of approximately $26,000 provides access to the concierge service, hotel services and amenities (including spa and dining), utilities, on-call maintenance, housekeeping, in-room dining and 24-hour security. 

“Buyers here are not driven by price per square foot, but lifestyle per square foot,” Necrason says. “They are looking at everything they can indulge in: growing their own organic vegetables on the farm, enjoying the spa facilities and the social club. Most are aged between 50 and 80 with teenage or grown-up families. They no longer want the hassle of larger homes — they want to focus on experiences.”

She adds that as well as the more fun aspects of the amenities, round-the-clock security is a growing priority. The latest analysis on this theme by Knight Frank (in 2020) found that 68 per cent of wealthy individuals considered security and stability important when choosing the location of their primary residence, and 65 per cent when choosing a secondary residence. “Buying a property with on-site staff and concierge makes the process of owning a property you might not be occupying on a full-time basis easier for many buyers to contemplate,” adds Liam Bailey, global head of research at Knight Frank.

For some, the cosseted concept may seem anathema. “We’re certainly not for everyone,” caveats John Hitchcox, who co-founded The Lakes by Yoo in the Cotswolds with French designer Philippe Starck. Hitchcox describes himself as “a maverick”. Twenty-five years ago, “people thought I was mad. No one believed there was a variation on the model of buying a cottage in the Cotswolds and spending your weekends mowing the lawn.” 

The idea for The Lakes by Yoo was born out of the experience of buying a second home in East Sussex. “We decided to convert an old barn, but it was a mistake. I’d pack the kids into the car Friday night and we’d arrive to endless maintenance. And my social life was compromised. I didn’t want to be trying to make friends at the end of a bar. So, I thought, let me find 10 friends, and we’ll build 10 houses near each other. I never expected it to become 180 homes and growing.”

The Lakes by Yoo is in expansion mode, with three new, three-bedroom lakefront cabins (priced from £1.8mn), as well as the recent acquisition of neighbouring Cotswolds Waters, an estate of 77 lakeside homes and 63 lake-fronted apartments. Hitchcox says the majority of buyers are international or returning expats seeking out community, rather than families with long-standing roots in the UK. With access to a spa, tennis courts, fishing, paddleboarding, a kids club and regular talks (recent speakers include Deepak Chopra and “manifesting queen” Roxie Nafousi), “it’s a shot of social life in the countryside,” he says.

That managed homes help maximise downtime for the cash-rich, time-poor is the repeated refrain of a number of developers. But there’s also the allure of a potential good investment. A decade ago, the Swiss ski village of Andermatt saw the arrival of a hotel and managed residences, led by Egyptian billionaire Samih Sawiris, chief executive of Orascom Development. Since 2015, the Orascom-backed Andermatt Swiss Alps AG has sold around 750 managed residences in the village, worth SFr1.5bn ($1.73bn). Prices for homes climb upwards from SFr1.125mn, with average management fees around SFr10,000. 

With a special dispensation given to Andermatt as one of the few resorts in Switzerland where foreigners can buy and sell properties without a complicated raft of restrictions, homeowners have benefited from a good resale value. According to the UBS Alpine Property Focus Report 2024, average price growth for Andermatt has been 7 per cent a year, over the past 10 years. 

For others, luxury managed homes are less about investment, more about mental wellbeing. “When I was building my business, I was running the rat race, juggling multiple companies. I lost vision of the reason for making the money in the first place,” says Chris Riddle, an entrepreneur. Downtime was spent at managed homes in the Cotswolds and abroad. This led him to co-found Woolfox in 2020, a combined private members’ club and residential community near Stamford in Rutland, an hour from King’s Cross (with Land Rover Defenders on hand for station collections). 

Located on a 185-acre former golf course, Woolfox is a private members’ club with gym, pool, and café; London-based kid’s club Tarka hosts pop-up camps during school holidays for children aged three to eight. Now, Riddle is in the process of adding managed properties, with planning permission for 60 four- to five-bedroom homes. Built in locally-sourced Stamford Stone with larch cladding, prices start at £1.8mn for 3,000 sq ft. So far, three have sold. 

“The aim was to create somewhere for multigenerational families to spend time together,” says Riddle, a father of two. “We wanted to encourage children to get outside and work in teams and use their brains, whilst giving parents a chance to unwind.” Easy proximity to London was key. “There’s a benefit to being a train ride from London rather than having to board a flight after an exhausting week,” he says. 

Still, plenty of second homebuyers are happy to fly — if it’s close to an airport, and especially if there’s a golf course attached. One such example is Costa Navarino, on Greece’s south-west Peloponnese peninsula — with four 18-hole golf courses, it was named world best emerging golf destination 2022.

With luxury golf resorts a perennial favourite, it’s no surprise that serviced properties on courses are growing. Another is Rosewood Hotels’ Old Lighthouse in Los Cabos, Mexico, which gives owners private access to a Jack Nicklaus course. Knowing their audience, the launch of their initial 144 residences takes place simultaneously with a PGA golf tournament in Los Cabos in early November. 

And on Sicily’s Agrigento coast another golf mecca is in the making. Twenty of the new Rocco Forte Villas (from €3mn) — part of the Verdura Resort — are complete, and another 47 are in planning. Alongside two championship golf courses, services include a spa, seven restaurants, a tennis and padel centre, private beach and a children’s club. 

A serviced second home is not for everyone. But for some, there is a definite appeal in escaping to a retreat where you needn’t worry about stocking your fridge — or, for that matter, booking a mermaid. 

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